How many H-1B petitions were made by Maryland employers classified under the Finance and Insurance industry during 2024?

Employers classified under the Finance and Insurance industry based in Maryland submitted 358 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, 353 were approved (98.6%), while five were denied (1.4%).

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, Maryland employers across all industries submitted 13,045 petitions during the same period, achieving an approval rate of 97%.

While the Professional, Scientific, and Technical Services industry led the H-1B filings with 10,580 petitions, representing 81.1% of all submissions in Maryland during 2024, the next largest contributor was the Educational Services industry, which accounted for 740 petitions and represented 5.7% of the total. Among petitions from employers in the Educational Services industry, 10,231 were approved and 349 were denied.

The Maryland employers which made the most petitions in the Finance and Insurance sector during 2024 included Government Employees Insurance Company Geico with 235 petitions, T Rowe Price Associates, Inc. with 61 petitions, and Common Securitization Solutions, LLC with five petitions.

Compared to 2023, the Finance and Insurance sector in Maryland saw a 16.7% 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.

Rank	Industry	Total Petitions	% of All Submissions	% Approved	% Denied
1	Professional, Scientific, and Technical Services	10,580	81.1%	96.7%	3.3%
2	Educational Services	740	5.7%	98.8%	1.2%
3	Manufacturing	475	3.6%	97.7%	2.3%
4	Health Care and Social Assistance	446	3.4%	97.5%	2.5%
5	Finance and Insurance	358	2.7%	98.6%	1.4%
6	Accommodation and Food Services	113	0.9%	99.1%	0.9%
7	Information	83	0.6%	96.4%	3.6%
8	Wholesale Trade	67	0.5%	100%	0%
9	Construction	45	0.3%	100%	0%
10	Administrative and Support and Waste Management and Remediation Services	40	0.3%	90%	10%
11	Other Services (except Public Administration)	30	0.2%	100%	0%
12	Retail Trade	22	0.2%	100%	0%
13	Public Administration	19	0.2%	100%	0%
14	Real Estate and Rental and Leasing	10	0.1%	100%	0%
15	Mining, Quarrying, and Oil and Gas Extraction	6	0.1%	83.3%	16.7%
16	Management of Companies and Enterprises	5	0%	100%	0%
17	Transportation and Warehousing	3	0%	100%	0%
18	Arts, Entertainment, and Recreation	2	0%	100%	0%
19	Utilities	1	0%	100%	0%

Rank	Company Name	Total Petitions	% Approved	% Denied
1	Government Employees Insurance Company Geico	235	99.2%	0.9%
2	T Rowe Price Associates, Inc.	61	100%	0%
3	Common Securitization Solutions, LLC	5	100%	0%
4	Bill ME Later, Inc.	4	75%	25%
4	Walker and Dunlop, LLC	4	100%	0%
6	Eagle Bancorp D B a Eaglebank, Inc.	3	100%	0%
6	Legg Mason and Company, LLC	3	100%	0%
6	Davis Vision, Inc.	3	100%	0%
6	New Day Financial, LLC	3	66.7%	33.3%
6	Lafayette Federal Credit Union	3	100%	0%
6	Kochasoft, Inc.	3	100%	0%
12	Hannon Armstrong Capital, LLC	2	100%	0%
12	Durable Capital Partners LP	2	100%	0%
12	Ullico Investment Advisors	2	100%	0%
12	Institutional Shareholder Services	2	100%	0%
16	Multiplan, Inc.	1	100%	0%
16	Temple View Capital, LLC	1	100%	0%
16	Kelly Integral Solutions, LLC	1	100%	0%
16	CBI of Maryland, Inc.	1	100%	0%
16	USA EB5 Immigration, LLC	1	100%	0%
16	Metropolitan Wealth Advisors, LLC	1	100%	0%
16	Kalamata Capital Group, LLC	1	100%	0%
16	Brown Investment Advisory and Trust Company	1	100%	0%
16	United Educators Management Company	1	100%	0%
16	Maryland Technology Development Company	1	100%	0%
16	Superior Vision Benefit Management, Inc.	1	0%	100%
16	Ivy Mortgage, Inc.	1	100%	0%
16	Bluepath Finance, Inc.	1	100%	0%
16	Ullico, Inc.	1	100%	0%
16	Mariner Finance, LLC	1	100%	0%
16	Service 1st Financial, LLC	1	100%	0%
16	Institutional Shareholder Services, Inc.	1	100%	0%
16	Banner Life Insurance Company	1	100%	0%
16	TRT LLC, M.D.	1	100%	0%
16	New Century Advisors, LLC	1	100%	0%
16	Hrgi Holdings, Inc.	1	100%	0%
16	Topone Mortgage, Inc.	1	100%	0%
16	Christopher Gordon Wealth Manageme	1	100%	0%