In 2022 there were 474,421 applications, and in 2023 there were 780,884 applications filed for the H-1B lottery. The number of H-1B applications was almost twelve times the places available in 2023. The number of H-1B applications is increasing rapidly with the Biden administration, and there may be a million H-1B applications this year.
Most people wait for their implementation partners to sponsor them for the H-1B lottery, and the implementation partner HR would keep them waiting till the last minute and may postpone their H-1B sponsorship, claiming that they have too many candidates available for that year, and H-1B sponsorship is available only based on seniority.
Prospective H-1B candidates should start looking for H-1B consulting employers as soon as possible for the next H-1B lottery in March 2024. Finding a good IT consulting employer at the last minute would be difficult. Small to mid-sized IT consulting companies are more amenable to hiring employers from overseas due to the shortage of skilled workers in the USA.
H-1B employees' earning potential has skyrocketed with remote work post- covid. H-1B employees can find work remotely from any location in the USA, do two or more H-1B projects, and earn extra income. H-1B employees doing multiple projects can earn up to a quarter million dollars annually. This income potential is four to five times the income of an IT worker in Canada, the UK, and Australia, where return-to-office mandates are more common.
Candidates should also evaluate the pros and cons of the L-1B visa. It is challenging for an L-1B employee to transfer to a new employer. The income potential for L-1B employee is much lower. After five years, the L-1B employee has to depart the United States or change to an H-1B visa. However, the L-1B employee may not be selected in the H-1B lottery and cannot switch to an H-1B visa. It is very difficult for an employee to be sponsored for a green card by an employer under the L-1B category.
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If you are in a full-time job located in the USA and looking for a second IT project, please email your resume to info@globalsofttech.us.
If you are laid off from your current job or a layoff is imminent, located in USA, or need 2024 H-1B sponsorship from overseas, please email your resume to info@globalsofttech.us.
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