BANK OF AMERICA N.A. · McLean, Virginia
Case #I-200-23111-954940
In FY2023, BANK OF AMERICA N.A. sought H-1B sponsorship for a Assistant Vice President; Quantitative Finance Analyst in McLean, Virginia at $123k per year, which is 40% above the prevailing wage of $88k. The case was processed in 5 days during the FY FY2023 cycle. This position is for new employment.
| Case Number | I-200-23111-954940 |
| Case Status | Withdrawn |
| Visa Class | H-1B |
| Fiscal Year | FY 2023 |
| Employer | BANK OF AMERICA N.A. |
| Employer Location | CHARLOTTE, North Carolina |
| Job Title | Assistant Vice President; Quantitative Finance Analyst |
| SOC Code | 13-209901 – Financial Quantitative Analysts |
| Worksite | McLean, Virginia |
| Annual Wage | $123k |
| Prevailing Wage | $88k |
| Wage Premium | +39.9% |
| Positions | 1 (1 new, 0 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Vice President; Senior Credit Underwriter | $160k | CERTIFIED | Sep 10, 2025 |
| Vice President; Senior Credit Underwriter | $160k | CERTIFIED | Aug 27, 2025 |
| GCIB GMC Associate | $110k | CERTIFIED | Jul 29, 2025 |
| Vice President; Risk Analysis Specialist II | $150k | CERTIFIED | Apr 25, 2025 |
| Vice President; Leasing Credit Officer II | $177k | CERTIFIED | Mar 6, 2025 |
This Labor Condition Application (LCA) was filed by BANK OF AMERICA N.A. for the position of Assistant Vice President; Quantitative Finance Analyst in McLean, Virginia. The offered annual salary is $123k, compared to the prevailing wage of $88k for this occupation and location. This represents a wage premium of +39.9% above the prevailing wage.
The LCA is the first step in the H-1B visa process. Employers must file an LCA with the Department of Labor certifying that they will pay the foreign worker at least the prevailing wage for the occupation in the area of intended employment. A certified LCA is required before the employer can file an H-1B petition with USCIS.
Case status: Withdrawn. This means the employer or their representative withdrew the application.
A Labor Condition Application (LCA) is a mandatory document that U.S. employers must file with the U.S. Department of Labor (DOL) before they can petition for a foreign worker under the H-1B, H-1B1, or E-3 visa categories. The LCA process was established under the Immigration and Nationality Act (INA) to protect both foreign and domestic workers by ensuring fair wages and working conditions.
When a U.S. company identifies a foreign national to fill a specialty occupation position, they must first obtain DOL certification through the LCA process before filing the H-1B petition (Form I-129) with U.S. Citizenship and Immigration Services (USCIS). In this case, BANK OF AMERICA N.A. filed LCA case number I-200-23111-954940 to sponsor a Assistant Vice President; Quantitative Finance Analyst position at their worksite in McLean, Virginia. By filing this LCA, the employer attests to four key conditions: (1) paying the higher of the actual wage or prevailing wage, (2) providing working conditions that will not adversely affect other similarly employed workers, (3) no strike or lockout at the worksite, and (4) providing notice of the filing to the bargaining representative or posting notice at the worksite.
The DOL establishes four wage levels for each occupation and geographic area, representing the progression from entry-level to fully competent workers:
For this filing, the offered wage of $123k compares to the DOL prevailing wage of $88k for Financial Quantitative Analysts positions in the McLean, Virginia area. The positive wage premium of +39.9% indicates the employer is offering above the DOL-determined average for this occupation and location.
The prevailing wage is the average wage paid to similarly employed workers in a specific occupation in the area of intended employment. The DOL determines prevailing wages using data from the Occupational Employment and Wage Statistics (OEWS) survey conducted by the Bureau of Labor Statistics (BLS). Employers must pay H-1B workers the higher of the prevailing wage or the actual wage paid to other employees in similar positions at the company. This requirement is designed to prevent employers from using H-1B workers to undercut domestic wages.
A "Certified-Withdrawn" status means this LCA was initially certified by the DOL but was later withdrawn by the employer. This can happen for various reasons: the foreign worker may have declined the position, found employment elsewhere, the employer may have decided to refile with updated information, or business conditions may have changed. A withdrawal does not negatively affect the employer's ability to file future LCAs.
This LCA was received by the DOL on Apr 21, 2023 and a decision was rendered on Apr 26, 2023, a processing time of approximately 5 business days. The standard DOL processing time for LCA applications is 7 to 10 business days. This application was processed within the standard timeframe.
The offered salary of $123k for this Assistant Vice President; Quantitative Finance Analyst position provides a data point for evaluating compensation trends in H-1B visa sponsorship. When reviewing H-1B salary data, consider that wages vary significantly based on geographic location, employer size, industry sector, and the worker's experience level. This position falls under SOC code 13-209901 (Financial Quantitative Analysts), which standardizes how the Bureau of Labor Statistics classifies occupations across industries. Metropolitan areas like New York, San Francisco, and Seattle typically command higher salaries due to higher costs of living, while positions in smaller markets may offer lower nominal wages but comparable purchasing power.
The offered annual salary for this Assistant Vice President; Quantitative Finance Analyst position at BANK OF AMERICA N.A. is $123k. The Department of Labor prevailing wage for this occupation and location is $88k. The offered wage represents a +39.9% premium over the prevailing wage.
This H-1B filing is for a position located in McLean, Virginia. The employing company, BANK OF AMERICA N.A., is headquartered in CHARLOTTE, North Carolina.
This Labor Condition Application is filed under the H-1B visa classification. The H-1B visa is designed for specialty occupation workers who possess at least a bachelor's degree or equivalent in a specific field related to the job.
The employer for this filing is BANK OF AMERICA N.A., located in CHARLOTTE, North Carolina. BANK OF AMERICA N.A. filed this Labor Condition Application (case number I-200-23111-954940) for a Assistant Vice President; Quantitative Finance Analyst position during fiscal year FY 2023. View all BANK OF AMERICA N.A. H-1B filings.
Certified-Withdrawn means this LCA was initially certified by the DOL but was subsequently withdrawn by the employer or their authorized representative.