The finance industry presents a tale of two H1B experiences: the quantitative researcher at Citadel earning $285,000 who sails through lottery with Level IV wages, and the financial analyst at a mid-size firm earning $85,000 who faces the same long odds as an offshore IT consulting employee. Understanding where your specific role falls on this spectrum is the key to building a sound H1B strategy in finance.
H1B Salary by Finance Role (DOL LCA Data)
Note: LCA data captures base salary only. Bonuses at financial firms are not included, total compensation at banks and hedge funds often exceeds LCA-certified wages by 50–200% for senior roles.
| Finance Role | Avg LCA Wage | PW Level | Filings/yr | Notes |
|---|---|---|---|---|
| Quantitative Researcher / Analyst | $198,000 | Level IV (88%) | ~3,200/yr | HFT firms pay $250K–$500K base + bonus |
| Investment Banking VP / Director | $218,000 | Level IV (86%) | ~2,800/yr | Base only; bonuses 100–200% of base |
| Fintech Software Engineer (Senior) | $175,000 | Level III–IV (78%) | ~5,400/yr | Near-FAANG wages at top firms |
| Risk Manager (Market/Credit) | $148,000 | Level III–IV (72%) | ~4,200/yr | Basel III expertise at premium |
| Data Scientist (Finance) | $162,000 | Level III–IV (74%) | ~3,800/yr | ML for trading signals, fraud, risk |
| Investment Banking Associate | $188,000 | Level III–IV (80%) | ~2,400/yr | MBA-track role; bonus-heavy |
| Financial Analyst (Corp FP&A) | $94,000 | Level II–III (62%) | ~8,200/yr | Most common finance H1B title |
| Compliance Analyst / Officer | $118,000 | Level II–III (65%) | ~3,600/yr | Regulatory expertise commands premium |
| Private Equity Analyst | $165,000 | Level III–IV (75%) | ~1,800/yr | Carry not in LCA; often MBA required |
| Actuary | $142,000 | Level III–IV (70%) | ~2,100/yr | FSA/ASA credential differential |
Source: DOL LCA FY2024 · Bonuses, carried interest, deferred comp not in LCA data
Top Finance H1B Sponsors (by LCA Volume & Wage)
| Firm | LCA Filings | Avg Wage | Focus |
|---|---|---|---|
| JPMorgan Chase & Co. | 8,400 | $145,000 | Technology + financial roles |
| Goldman Sachs | 4,200 | $198,000 | Quantitative, tech, banking |
| Citigroup | 3,800 | $138,000 | Technology, compliance, analysis |
| Bank of America | 3,400 | $135,000 | Technology, risk, analysis |
| Morgan Stanley | 2,900 | $178,000 | Technology, quant, banking |
| BlackRock | 2,200 | $158,000 | Tech, portfolio management, risk |
| Fidelity Investments | 1,800 | $142,000 | Technology, financial analysis |
| Citadel / Citadel Securities | 1,200 | $268,000 | Quantitative research, engineering |
| Two Sigma | 980 | $285,000 | Quantitative research, engineering |
| Stripe | 1,100 | $192,000 | Fintech engineering, data science |
Finance H1B Salary by State
New York dominates with 38% of all finance H1B filings. The NYC metro area's DOL prevailing wage rates are the highest in the country for finance roles, which directly maps to better lottery odds for NY-based finance workers.
| State | Share of Filings | Avg H1B Wage | Notes |
|---|---|---|---|
| New York | 38% | $185,000 | Wall Street concentration; NYC premium |
| California | 18% | $172,000 | Fintech, VC-backed finance, tech-finance |
| Connecticut | 9% | $195,000 | Hedge funds (Greenwich), family offices |
| Texas | 8% | $148,000 | Growing financial services hub |
| Illinois | 7% | $162,000 | Chicago: options trading, HFT |
| New Jersey | 6% | $155,000 | Back-office banking ops |
Fintech vs Traditional Banking: H1B Comparison
Top-Tier Fintech (Stripe, Plaid, Robinhood)
Traditional Investment Banks (GS, JPM, MS)
Frequently Asked Questions
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