Wall Street’s H-1B hiring slows under new rules

The New H-1B Rules: A Costly Shift

Last year, tighter H-1B visa regulations reshaped how Wall Street banks approach global hiring. The changes were drastic:

• A $100,000 fee per application
• Social media scrutiny for applicants
• A lottery system favoring higher salaries

The result? A dramatic divergence in strategy among financial giants.

The Big Retreat: JPMorgan, Goldman Sachs Slash Requests

Federal data reveals a 10% drop in approved H-1B visa requests from major banks in Q4 2025 compared to the previous year. But the real story lies in the details:

• JPMorgan: Approvals plummeted from 724 to 516 (a 29% decline)
• Goldman Sachs: A steeper 60%+ drop, signaling a sharp pullback

Both banks primarily target tech roles—a sector now under pressure from both visa restrictions and AI-driven hiring shifts.

The Bold Moves: Citi, Barclays, Morgan Stanley Expand

While some banks retreated, others aggressively pursued visas:

• Citi: Requests rose nearly 20%
• Barclays: A 67% surge
• Morgan Stanley: A 25% increase

Even Capital One bucked the trend, focusing on data and AI roles, including senior engineers.

Why the Split? The Unspoken Divide

Banks remain tight-lipped on their strategies, but experts suggest:

• Uncertainty over new rules is forcing a cautious approach
• AI fears may be reducing sponsorship demand in tech-heavy roles

With final numbers still fluctuating, one thing is clear: H-1B visa hiring is no longer business as usual.