H-1B Insights: Employers classified under the Finance and Insurance industry file 130 petitions in Arizona throughout 2024

H-1B Insights: Employers classified under the Finance and Insurance industry file 130 petitions in Arizona throughout 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 Arizona submitted 130 H-1B petitions during 2024, according to data provided by the U.S. Citizenship and Immigration Services via the H-1B Employer Data Hub.

All of the petitions submitted in the period were approved.

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, Arizona employers across all industries submitted 6,313 petitions during the same period, achieving an approval rate of 98.3%.

While the Manufacturing industry led the H-1B filings with 3,468 petitions, representing 54.9% of all submissions in Arizona during 2024, the next largest contributor was the Professional, Scientific, and Technical Services industry, which accounted for 1,157 petitions and represented 18.3% of the total. Among petitions from employers in the Professional, Scientific, and Technical Services industry, 3,422 were approved and 46 were denied.

The Arizona employers which made the most petitions in the Finance and Insurance sector during 2024 included Edelman Financial Engines, LLC with 26 petitions, Western Alliance Bank with 24 petitions, and Early Warning Services, LLC with 18 petitions.

Compared to 2023, the Finance and Insurance sector in Arizona saw a 36.8% increase 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 Arizona, 2024
RankIndustryTotal Petitions% of All Submissions% Approved% Denied
1Manufacturing3,46854.9%98.7%1.3%
2Professional, Scientific, and Technical Services1,15718.3%97.2%2.8%
3Educational Services6259.9%98.1%1.9%
4Health Care and Social Assistance2363.7%98.3%1.7%
5Information1762.8%98.3%1.7%
6Finance and Insurance1302.1%100%0%
7Retail Trade1252%98.4%1.6%
8Construction751.2%98.7%1.3%
9Mining, Quarrying, and Oil and Gas Extraction661.1%97%3%
10Wholesale Trade631%100%0%
11Accommodation and Food Services470.7%97.9%2.1%
12Real Estate and Rental and Leasing460.7%95.7%4.4%
13Administrative and Support and Waste Management and Remediation Services420.7%100%0%
14Utilities190.3%100%0%
15Transportation and Warehousing140.2%92.9%7.1%
16Public Administration100.2%100%0%
17Other Services (except Public Administration)90.1%100%0%
18Arts, Entertainment, and Recreation30.1%100%0%
19Agriculture, Forestry, Fishing and Hunting20%100%0%

Top Employers in Finance and Insurance Industry in Arizona, 2024

RankCompany NameTotal Petitions% Approved% Denied
1Edelman Financial Engines, LLC26100%0%
2Western Alliance Bank24100%0%
3Early Warning Services, LLC18100%0%
4Freedom Financial Network Funding, LLC14100%0%
5Private National Mortgage Acceptan8100%0%
6Cascade Financial Services4100%0%
7Freedom Financial Asset Management, LLC3100%0%
7Copperpoint Insurance Company3100%0%
9Keen Vision Systems, LLC2100%0%
9Nuvei Technologies, Inc.2100%0%
9Drivetime Sales and Finance, LLC2100%0%
9Brightside Benefit, Inc.2100%0%
9Blue Cross Blue Shield of Arizona2100%0%
14Plain Green, LLC1100%0%
14Virtix Health, LLC1100%0%
14Lendage, LLC1100%0%
14CNA National Warranty Corporation1100%0%
14Offerpad Holdings, LLC1100%0%
14Unlock Technologies, Inc.1100%0%
14Truly Investor Capital Division of Oaktree Funding, Corp.1100%0%
14Fusion Wealth Management, LLC1100%0%
14Nova Financial and Investment Corporation1100%0%
14Directed Trust Company1100%0%
14Soaren Management, LLC1100%0%
14Moria Development D B a People, Inc.1100%0%
14Davis Selected Advisers NY, Inc.1100%0%
14Singularity Capital, LLC1100%0%
14Beyond Risk Management, Inc.1100%0%
14Zinclusive, LLC1100%0%
14Medical Security Card Company, LLC1100%0%
14Credit Spectrum, Corp.1100%0%
14Fortitude Family Office, LLC1100%0%
14Mas Life Services, LLC1100%0%

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