The US government has announced a $100,000 fee for new H-1B visas, a move that could reshape how companies hire skilled foreign workers. The fee applies to applicants currently outside the United States.
Jamie Dimon, CEO of JPMorgan Chase, one of the largest users of H-1B visas, has raised concerns. He said the US needs strong border security but should also remain open to highly skilled talent. Dimon warned there could be “some pushback on the H-1Bs.”
Jamie Dimon’s take: Skilled immigration is critical
Dimon supports border security. He says it is necessary for national safety. But he emphasizes that “good immigration” is equally important. Speaking at JPMorgan's 10th annual India Investor Conference, Dimon noted that limiting access to top STEM talent could affect innovation and business growth.
"I think there will be some pushback on the H-1Bs," Dimon said, stressing the need for skilled immigration alongside border security.
JPMorgan sponsored nearly 2,000 H-1B visas in fiscal 2024. These visas allow the company to move employees internationally. They help firms respond to global business needs and maintain operational flexibility. Dimon warned that high fees could make the US less attractive to top foreign professionals.
Potential impact on US businesses
JPMorgan economists say the new fee could cut H-1B approvals by as many as 5,500 a month. Many of these applications need consular processing, which the fee will directly affect.
Companies may start rethinking where they put high-skilled jobs. Some could move roles overseas to avoid the cost. A 2023 study from the Wharton School found that stricter visa rules often push multinational companies to shift work to other countries.
US firms carry out about 80% of American research and development. Losing access to skilled foreign workers could slow innovation and make it harder for the country to stay competitive globally.
Consequences for students
The new H-1B fee could make life harder for foreign students. Landing a job after graduation may become more expensive and uncertain. For some, this might even make them think twice about coming to the US to study.
Students already in the country might not feel the effects right away. The H-1B cap for fiscal 2026 has already been reached, so the short-term impact could be limited. But over time, fewer visa opportunities may push talented students to other countries with simpler rules.
This could have long-term consequences for the US. Other nations are actively competing to attract the best STEM graduates. If fewer international students stay in the US, it could slow innovation and affect the future workforce.
Industry reactions: Divided opinions
Some tech leaders, such as Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman, support the fee. They argue it could raise the bar for talent entering the US.
However, most corporate leaders, including Dimon, warn the policy could backfire. Firms may offshore more work. Domestic hiring of high-skilled roles may slow. Businesses fear the fee could reduce the overall competitiveness of the US labor market.
Looking ahead: The US at a crossroads
Dimon’s warning highlights just how complicated US immigration policy has become. Policymakers need to keep the country safe while also making sure skilled workers can come to the US. High visa fees may help control borders, but they could also make the country less appealing to top talent around the world.
The $100,000 H-1B fee is a major shift. Its effects on businesses, students, and the job market will become clearer in the coming months. For now, it shows how delicate the balance is between protecting national interests and welcoming the skilled workers who help the US stay competitive.
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