71 H-1B petitions filed by Finance and Insurance employers classified under the Finance and Insurance industry in District of Columbia in 2024

71 H-1B petitions filed by Finance and Insurance employers classified under the Finance and Insurance industry in District of Columbia in 2024

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Ted H. Kim, Associate Director Refugee, Asylum and International Operations Directorate for USCIS | https://www.naco.org/

Employers classified under the Finance and Insurance industry based in District of Columbia submitted 71 H-1B petitions during 2024, according to data provided by the U.S. Citizenship and Immigration Services via the H-1B Employer Data Hub.

Of these, 69 were approved (97.2%), while two were denied (2.8%).

Employers are classified under industries based on their reported operations and may be involved in multiple industries.

The H-1B visa program allows U.S. employers to temporarily hire foreign workers in specialty occupations requiring specialized knowledge and at least a bachelor’s degree or equivalent. It is designed to address skill gaps in the U.S. workforce while ensuring wage standards to protect both U.S. and H-1B workers. Employers must certify that they will pay H-1B workers wages equal to or greater than those of similarly qualified U.S. employees or the prevailing local wage.

The average approval rate for H-1B petitions across the United States in 2024 stood at 98%, higher than 2023's 97.3%. Statewide, District of Columbia employers across all industries submitted 1,429 petitions during the same period, achieving an approval rate of 98.3%.

The Professional, Scientific, and Technical Services industry led the H-1B filings in District of Columbia during 2024, with 554 petitions (38.8% of all submissions), and an approval rate of 98.7%. Meanwhile, the Educational Services industry was the second largest contributor, filing 346 petitions (24.2% of the total), with an approval rate of 98.8%.

The District of Columbia employers which made the most petitions in the Finance and Insurance sector during 2024 included Fannie Mae with 32 petitions, The Carlyle Group Employee Company, LLC with 14 petitions, and Icma Retirement, Corp. with nine petitions.

Compared to 2023, the Finance and Insurance sector in District of Columbia saw a 36.6% decrease in the number of H-1B petitions during 2024.

The United States admits around 1 million legal immigrants annually, most of whom receive permanent residence (green cards) through family sponsorship or employment-based visas. In 2023, about 1.2 million immigrants were granted green cards, a return to pre-pandemic levels. Temporary visa programs, such as the H-1B for highly skilled workers and H-2A for seasonal agricultural workers, also play a critical role in filling workforce needs.

Public opinion on immigration varies, with 46% of Americans favoring maintaining current legal immigration levels, according to a 2024 Pew Research Center survey. Additionally, 42% believe that highly skilled workers, such as scientists, doctors, and programmers, should be prioritized for legal immigration, compared to 25% who prioritize workers filling labor shortages and 19% who emphasize family sponsorship. Despite this, family sponsorship remains the most common path to permanent residency, accounting for 63% of green cards issued in 2023.

The data in this article comes from the H-1B Employer Data Hub provided by the U.S. Citizenship and Immigration Services (USCIS). While USCIS strives for accuracy, manual data entry and errors on paper forms submitted by applicants or petitioners may result in discrepancies in employer names, tax IDs, locations, or other details.

H-1B Petitions by Industry in District of Columbia, 2024
RankIndustryTotal Petitions% of All Submissions% Approved% Denied
1Professional, Scientific, and Technical Services55438.8%98.7%1.3%
2Educational Services34624.2%98.8%1.2%
3Other Services (except Public Administration)1248.7%99.2%0.8%
4Health Care and Social Assistance1057.4%95.2%4.8%
5Information845.9%96.4%3.6%
6Finance and Insurance715%97.2%2.8%
7Public Administration342.4%100%0%
8Transportation and Warehousing241.7%100%0%
9Manufacturing221.5%95.5%4.6%
10Construction201.4%100%0%
11Arts, Entertainment, and Recreation161.1%100%0%
12Accommodation and Food Services90.6%88.9%11.1%
13Wholesale Trade80.6%100%0%
14Utilities60.4%100%0%
15Real Estate and Rental and Leasing50.4%100%0%
16Retail Trade10.1%0%100%

Top Employers in Finance and Insurance Industry in District of Columbia, 2024

RankCompany NameTotal Petitions% Approved% Denied
1Fannie Mae3296.9%3.1%
2The Carlyle Group Employee Company, LLC14100%0%
3Icma Retirement, Corp.9100%0%
4Financial Industry Regulatory Authority, Inc.366.7%33.3%
4Grain Management, LLC3100%0%
6Graph Strategy USA LP2100%0%
7Finca International, Inc.1100%0%
7Mpower Financing Public Benefit Company1100%0%
7Kenesis Management Company, LLC1100%0%
7Accion International, Inc.1100%0%
7Y Analytics PBLLC1100%0%
757 Stars, LLC1100%0%
7Tiber Capital Group, LLC1100%0%
7Galway Sustainable Capital, Inc.1100%0%

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