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I did a bit more googling and from all the reports, the answer seems to be yes. Banks want to do as they wish with executives compensation and hiring which is restricted as long as they will have TARP money.Will the H1-restrictions cease to exist once the banks return the TARP money.
Why are they rushing? They want more flexibility in compensation and hiring than they is possible under TARP restrictions. By having greater flexibility than other banks still strangled by TARP regulations they will be able to lure the best and brightest employees from banks who can't offer the same level of compensation.
yan you are in morgan stanley right?
So is nobody sponsoring h1 in finance industry right now?
I know firms are hiring right now.
So you are saying HF wouldn't do H1B sponsorship, or less likely to do that for their prospective employees? That may be true for the small ones but I would imagine the more established ones like Citadel have lawyers and HR personnel just like the big banks.HF usually don't go through the hassle unless it is really worthy.
I believe the old rules are still in place, where a company must prove that there are no qualified American applicants or that the foreign applicant has a special needed skill. Correct me if I'm wrong about this for large companies.