TARP repayment and H1 restrictions

[Andy Nguyen]

What does it mean? GC as in hiring people with GC or sponsoring GC for people? None of that is applicable to this context.

 

[vkaul]

What does it mean? GC as in hiring people with GC or sponsoring GC for people? None of that is applicable to this context.

I mean do hedge funds or banks sponsor GC at all? I said it is an important thing to know because GC for an Indian national takes about 6 years and you would want to join in places where such a possibility exists in future.
Also are hedge fund jobs more volatile than bank jobs?

 

[Andy Nguyen]

You are confusing between H1B sponsorship and GC sponsorship, the first may not lead to the second. I assume you know all about H1B visa.
The hiring firm may/not file labor cert and I-140 as part of the package. You need them to do these paper before you can apply for GC. You can verify this prior to the hiring. Even then, the firm may decide to do that after you work there a few years.
At the same time, you can move firm using your H1B visa so it's a trade off here.
Once your I140 is approved and current, you can file I-485 for your GC. As you can see this takes a while specially people from China, India,
Take a look at the current visa bulletin to see where they stand Visa Bulletin for July 2009

The EB2 category has a 9 years wait for people from China, India. And if you work and file for the paper in New York City, add more time to it as NYC has the biggest immigration backlog anywhere in this country.

I'll say that a lot will change within these long years. Life is too short to worry. :dance:

 

[Uncle Max]

HF usually don't go through the hassle unless it is really worthy.

I know one of this year Baruch's graduates who got a job in a hedge fund and they started GC right away. I don't think any big bank will do that now days.

It's not much hassle to get H1B paperwork done and it cost very little for hedge funds. Thus, if they find someone, they won't think something like: "Oh, let's put this person on hold because we need to do all that H1B stuff. Maybe someone with papers will apply for position in a week or two".

 

[vkaul]

So big banks won't sponsor the green card, only hedge funds will? IF there is a 9 year wait it is good to start the processing asap, right?

 

[Uncle Max]

Big banks don't want to deal with any H1B things now because if they do, TV channels will immediately report that bank YYY is the reason for 10%+ unemployment in the country because it's hiring foreigners. Banks are easy targets for media now, so they want to stay away from possible troubles.

Also, there is new "stimulus" package on the way as it was announced today. Everybody wants a piece of that and one of the conditions to get it is not to mess with the government right now.

 

[vkaul]

Basically banks are ruled out for H1-B what to speak of green card. Should I ask hedge fund guys whether they will be doing GC?

 

[woody]

I don't know if stating your immigration status on your resume is a good idea. The phone interview won't be a waste of time and you never want to give them a reason not to call you. After you speak to them for 10 minutes, and then they find out your status, they may decide it's worth pursuing anyway.

A friend of mine called me a while back and asked me for advice on his resume. There was a several-year gap in his work history where his kidney failure and subsequent heart attack left him on dialysis and unable to work. He had already sent out 50 resume/cover letters for jobs before asking my advice. If he'd asked me sooner, I would have told him not to explain the gap until you talk to the people. Get in the door. Only one of the 50 called him back and it was because the guy had a relative who went through the same thing. He got the job.

Another story to belabor the point. My father worked for the state, counseling people on how to find a job. Most clients were coming off welfare or from jail. One guy asked him "where do I put the four years I was in jail on my resume?" My dad told him that you don't put it on the resume.

I'm not trying to equate kidney failure or jail with the need for H1b sponsorship, but the point is that you want to provide as few reasons as possible for them to not call you, especially when the job market has so many qualified applicants for so few jobs.

Just my 2 cents.

 

[vkaul]

putting Masters on your CV

Thanks for your great responses. I have one more question; I am doing a PhD in Electrical and computer Engineering and I have Masters in Aerospace Engineering(doing Control Theory), Electrical and Computer Engineering and Mathematics in that order. Should I omit the M.S in aerospace engineering from my CV as three masters with none in finance will look awkward.

 

[Yan He]

Never ask questions about benefit or sponsorship during interview. If they want you, they will take care of this.

Basically banks are ruled out for H1-B what to speak of green card. Should I ask hedge fund guys whether they will be doing GC?

 

[Stefan Zota]

I know one of this year Baruch's graduates who got a job in a hedge fund and they started GC right away. I don't think any big bank will do that now days.

It's not much hassle to get H1B paperwork done and it cost very little for hedge funds. Thus, if they find someone, they won't think something like: "Oh, let's put this person on hold because we need to do all that H1B stuff. Maybe someone with papers will apply for position in a week or two".

Each bank has a certain guideline for greencard approval. They are generic, hence many exceptions. Usually you need to wait around 2 years at least.
With this market, the banks are even more reluctant to support for greencard.

 

[IlyaKEightSix]

People who are completely legal to work in the United States can't find work. Here's a nice little statistic. 80% of the class of 2009 has no job. I think the last thing on anybody's list is jumping through legal hoops to sponsor someone when they can throw darts and hit a qualified candidate.

It's a complete disaster here in the states.

 

[vkaul]

Are u talking about baruch??

 

[Andy Nguyen]

likely something from top of his head.

 

[alain]

Here's a nice little statistic. 80% of the class of 2009 has no job.

Is that 80% made of the same morons, idiots and imbeciles that you always talk about?

I think the last thing on anybody's list is jumping through legal hoops to sponsor someone when they can throw darts and hit a qualified candidate.

That is not necessarily true, if a company finds somebody that can produce money for them, they will jump through any kind of hoops to hire him/her.

 

[DominiConnor]

That is not necessarily true, if a company finds somebody that can produce money for them, they will jump through any kind of hoops to hire him/her.

As a headhunter I have to say that only applies when a manager has met you and decided that you are that good.

I regularly get told "no one we need to get a visa for", and that was before racist Democrats attacked H1s through TARP.

If I took that literally, then I would simply never send in resumes of that sort of candidate, so they'd never get a chance to impress.

As it happens last week I spent some time with the MD of a large quant group at big bank, and got him round to being willing to look at H1s.
Was not trivial.

So if you are very good indeed at this line of work, you ought to be in contact

 

[IlyaKEightSix]

Is that 80% made of the same morons, idiots and imbeciles that you always talk about?

That is not necessarily true, if a company finds somebody that can produce money for them, they will jump through any kind of hoops to hire him/her.

That 80% was BS degrees, according to Seth Godin. Which also makes me wonder...with that statistic, are firms just going to start hiring the class of 2010 like the class of 2009 all got employed nice and peachy?

I'm really wondering what employers expect the class of 2009 to do here...