The US government has included data science and financial analytics degree to the current list of degrees that allow a three-year visa extension for international students after graduating. The standard extension period of visa extension for other programmes is one year. With this, the three-year waiver ‘optional practical training’ waiver gets a broader coverage.
The announcement has come as a part of the initiatives to make the country more attractive for international students. American universities have experienced a dip in international student enrolment during the last five years, with a growing inclination for destinations like the UK and Canada. The reasons include cheaper education and an easier path to getting a permanent resident status in the country.
Besides visa extensions for international students, the Biden administration has also allowed students with J-1 visas to work in the country for up to three years. Additionally, scientific researchers now have more universities to work on J-1 visas. It paves the way for immigration aspirants struggling to get the H-1B, which continues to be the most popular visa type.
According to the latest salary figures for H-1B visa holders, the recent data science and analytics graduates working for US banks earn USD 85,000-190,000 depending on their role. The highest salaries for finance technologists are offered by JPMorgan in California, while entry-level candidates have relatively low salaries at Wells Fargo in Charlotte.
There are new guidelines for helping professionals in STEM fields by enabling people with extraordinary ability to apply for O-1 visas. Additionally, more guidelines are impending to ease the green card process for STEM professionals by permitting them to skip a step.