In December, Elon Musk called for more temporary foreign workers under the H-1B visa program, which is fueling a debate among Republican voters.
For decades, tech companies have relied significantly on high-skilled tech workers under this program.
This graphic, via Visual Capitalist's Dorothy Neufeld, shows the top companies by number of approved H-1B beneficiaries, based on data from the U.S. Citizenship and Immigration Services.
As the table below shows, more than half of all H-1B visa beneficiaries in 2024 were seen among the leading petitioning companies in 2024, largely focused in the tech sector:
Data as of September 30, 2024.
For the past five years, Amazon has been the top company by number of approved H-1B visas, mainly consisting of engineers and tech jobs.
Today, many big tech firms have significant resources to hire lawyers which aid in the application process. This often gives them an advantage in the lottery system, which grants visas that are typically oversubscribed past the annual cap. In fact, many major tech companies will apply for more than they need.
Ranking in second is Infosys, a multinational IT outsourcing firm based in India. Like Infosys, India-based Tata Consultancy Services relies on the H-1B visa program. In 2024, it generated more than 50% of its revenues in North America, its largest market.
While tech companies tend to apply for higher-paying roles, IT outsourcing firms typically submit applications for less-senior positions. For instance, the median H-1B salary at Microsoft is $160,000 in contrast with $82,000 at Tata Consultancy Services in 2024.
Overall, the H-1B visa program has been shown to have a multitude of benefits. Big companies utilizing H-1Bs have been shown to have higher revenue, enhanced innovation, and longer survival rates. Going further, it has driven more U.S. patents and higher productivity across the U.S. economy.
To learn more about this topic from a U.S. labor market perspective, check out this graphic on the fastest growing jobs over the next decade.