A Brief Look At the State of the H1B Visa at Big Banks in the U.S.

Updated on April 10, 2024

At a Glance

  • Major banks in the U.S., including Capital One, Wells Fargo, TD Bank, Bank of America, and Citibank, actively hire skilled foreign nationals through H1B visa sponsorships.
  • H1B salaries for these positions can vary, typically ranging from $70,000 to $160,000.
  • While traditional banks may be hesitant to provide personal loans to foreign nationals, online lenders like Stilt offer options with competitive interest rates and flexible terms.
  • This makes it easier for H1B visa holders to obtain financing for relocation and other expenses.

The U.S. is experiencing a time of political turmoil. The recent government shutdown and corresponding policies have many prospective visa applicants in two minds about their futures in America. The good news is that some big banks are still looking to employ and sponsor foreign nationals on H1B visas.

Let’s look at the past needs and trends according to which big banks employ and sponsor H1B visa holders. We’ll also show you a way to help finance your journey to your new employer.

H1B Visas and Major Banks in the U.S.

The major banks in the U.S. have always had an appetite for excellent skills. That is why thousands of foreign nationals are employed every year by banks in very specialized fields.

President Trump’s latest push for a decrease in the employment of foreign nationals has already had an impact on the amount of H1B visa grants. But, the government’s push for local citizens to be employed won’t lower the qualifications and requirements needed for jobs. The best and sharpest minds will still be considered for H1B sponsorships in the banking industry. Let’s look at what some of the major banks are looking for lately.

Capital One H1B

This major U.S. bank has always had many yearly H1B filings for sponsorship. In the last year, they have been active in acquiring skilled professionals in the fields of software engineering, data analysis, business management, and senior management. Capital One H1B salaries will differ. The salaries will depend on the job description and responsibilities, but in the last year, they fell in the bracket between $70,000 and $120,000.

Wells Fargo H1B

Wells Fargo is one of the older banks in the U.S. It has been around since March 18, 1852. Its history may be rich and long, but that doesn’t mean its strategies are too. They are also consistently looking for great skills from abroad. Quite a lot of Wells Fargo H1B filings took place in 2018. They have certified 167 applicants for Wells Fargo H1B visas. The average Wells Fargo H1B salary for the 2018 year was $149,060. Wells Fargo especially employs people in the fields of advanced analytics (economists, statisticians, and quantitative analysts). They also employed application system engineers and senior managers.

TD Bank H1B

TD Bank H1B filings are much fewer than the industry standard. It could be due to the fact that the company is based in Canada, so most of the bank’s employees are probably based in Canada. But for the few TD Bank H1B filings that did take place in the U.S., the average salary for 2018 was $97,250. Quantitative analysts, senior management, and risk managers were at the top of the recruiting list.

Bank of America H1B

Bank of America was established in 1998. Their methods are high tech and so are their recruiting strategies. Bank of America H1B filings totaled to the amount of 1039 for the year 2018. A few were denied but the success ratio is still well in the 90%. The average salary for Bank of America H1B employees was $119,291 in 2018. They were looking for software engineers, senior management, quantitative managers, and programmers of various kinds.

Citibank H1B

Citibank is also one of the older banks in the U.S. It was established on June 16, 1812. This means it is one of the larger banks in the U.S. and thus also have big recruiting efforts for foreign national skills. Citibank H1B filings were more than 600 in 2018. The salaries for these filings were predominantly between $80,000 and $160,000 (depending on the responsibilities of the job). Citibank H1B sponsorships were mainly for business and financial analysts, application programmers, senior management, and statistical analysts with applied knowledge to the banking industry.

Personal Loans for H1B Visa Holders in the U.S.

According to U.S. law, the employer must pay the filing costs for H1B sponsorship. So you don’t need to finance your way into an H1B visa job. But, you will need to pay for the plane tickets, the moving costs, the rent deposits and any other set up costs for you to move to your new job.

These costs can easily add up to a couple of thousand. What options do you have as an international moving to the U.S. to help you finance these upcoming costs? Here are some options you can explore.

Bank Personal Loans

Traditional banks have always supplied credit in some form to the public. That is partially how a bank makes money. But, banks are a bit shy to lend money to foreign nationals. People on visas in the U.S. often can’t meet the minimum requirements of the traditional banks. H1B personal loans generally need to come from a different type of lender.

Credit Personal Unions

Credit unions exist to serve specific groups of people. You need to meet the demographic requirements to be eligible for membership of a specific credit union. Credit unions only have a limited pool of money with which to serve their members and often charge interest rates that are more expensive than that of traditional banks.

Once again an H1B personal loan is hard to come by at credit unions. Foreign nationals won’t be able to meet the minimum requirements of credit unions. But, there is an alternative form of personal loans that can help you.

Online Personal Lenders

Online personal lenders don’t operate the same as traditional banks or credit unions. They often serve people with poor credit histories and foreign internationals like yourself.

Many online personal lenders will perform soft credit checks when loan applications are processed which means you don’t take a knock on your credit score before you apply. With online lenders, you only need to fulfill the basic requirements to be eligible for a personal loan.

Online lenders offer competitive interest rates and some may even have lenient and flexible loan terms as well. Let’s look at how you can get a personal loan for H1B visa with an online lender.

Getting a Personal Loan as an H1B Visa Holder with Stilt

You can get a loan between $1,000 and $25,000 with interest rates that start at 7.99% with Stilt. Stilt especially provides loans to immigrants and visa holders. Even foreign national students can get a loan with Stilt.

Take a look at the basic eligibility criteria and get your paperwork ready to apply. Here are the basic steps.


As Stilt is an online lender, you apply for a loan online. This makes the process a lot easier and faster than traditional banks. Make sure you submit all supporting information for your application and any relevant information. Stronger applications will receive better loan offers.

Get Approved

After 24 hours you will receive feedback on your application. Once your application is approved, you’ll receive a promissory note and a loan offer. Please sign and return that note if you wish to accept the loan.

Start Repayment

The funds will reflect in your account within 2-3 business days of your acceptance. After you’ve received the funds and utilized it for your specific purpose, you can set up your payment method online. Stilt’s autopay option will help you to repay your loan on time every time, as it automatically deducts your monthly repayment from your account.

Getting a loan with Stilt is that simple!

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The U.S. still offers great opportunities and careers in the banking industry for H1B visa holders. You can make your own American dream a reality by financing your move with an H1B visa personal loan. Get your H1B sponsorship in order and apply today!

Frequently Asked Questions (FAQ)

What is the State of the H1B Visa at Big Banks in the U.S.?

Big banks in the U.S. continue to use the H1B visa program to hire skilled foreign workers, especially in roles requiring specialized knowledge in finance, analytics, and technology. However, the extent of usage varies among banks and is subject to changing immigration policies and market demands.

Which Big Banks in the U.S. Are Known to Sponsor H1B Visas?

Banks like JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup are known to sponsor H1B visas for various specialized positions.

How Has Recent U.S. Immigration Policy Affected H1B Visas in Banking?

Recent U.S. immigration policies have brought more scrutiny and tighter regulations to the H1B visa process, potentially affecting the number of visas approved and the duration of visa processing for banking positions.

What Types of Positions at Banks Typically Require H1B Sponsorship?

Positions often requiring H1B sponsorship in banks include financial analysts, investment bankers, IT professionals, risk management specialists, and other roles requiring specific technical or financial expertise.

Are H1B Workers at Big Banks Affected by the Visa Cap?

H1B workers at big banks are subject to the annual H1B visa cap unless they qualify for exemptions, such as working at a non-profit entity affiliated with higher education institutions.

How Competitive is it to Secure an H1B Visa Position at a Big Bank?

Securing an H1B visa position at a big bank is highly competitive due to the limited number of visas and the high demand for skilled professionals in the banking sector.

What is the Typical Duration of H1B Visas in the Banking Industry?

The typical initial duration of an H1B visa in the banking industry is three years, which can be extended. The total maximum duration is generally six years, with exceptions under certain circumstances.

Can H1B Visa Holders at Banks Apply for Green Cards?

Yes, H1B visa holders at banks can apply for Green Cards. Many banks support or sponsor their H1B employees’ permanent residency applications.

What Challenges Do H1B Applicants Face in the Banking Industry?

Challenges include navigating complex visa regulations, the competitive nature of visa allocation, and uncertainty due to changing immigration policies.

Are Training and Development Opportunities Available for H1B Employees in Banks?

Many big banks offer training and development opportunities for H1B employees, focusing on career growth, skill enhancement, and adapting to the U.S. banking environment.

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Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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