The Trump administration’s overhaul of the H-1B system could impact finance industry hiring with a new $100,000 fee. Financial firms use H-1B visas, with the top 10 U.S. financial firms getting 12,000 visas in 2025. JPMorgan received 2,440, making it the biggest recipient.

H-1B holders in finance fill engineering and technology roles crucial for banking. Prospect Rock Partners says the $100,000 fee will make hiring entry-level junior analysts or tech workers too expensive. Banks may need to hire more offshore workers if skills are hard to find in the U.S.

JPMorgan CEO Jamie Dimon said the bank will discuss the H-1B issue with policymakers. The Trump administration aims to favor higher-skilled workers with the visa changes, opening more jobs for U.S. tech workers. Wall Street banks and other companies declined comment on the proposal.

Professional services firms must assess the impact of the H-1B visa changes on their workforce. The $100,000 fee for new H-1B visas will significantly increase the cost of hiring. Alternatives include different visa categories and accelerating green card sponsorship to maintain talent pipelines.

Employers must analyze the impact of the new H-1B visa fee on their talent pipelines and consider alternative visa options. Fragomen advises companies to assess cost and workforce strategies in response to the changes. The $100,000 fee is a one-time charge and does not apply to visa renewals.

Read more at Yahoo Finance: Analysis-Financial firms to feel outsized impact from Trump’s H-1B overhaul