CIBC Bank USA · Chicago, Illinois
Case #I-200-23255-339270
CIBC Bank USA filed an H-1B petition for a Credit Portfolio Manager position in Chicago, Illinois at $146k per year — 18% above the prevailing wage of $124k. The case was certified in 7 days during the FY FY2023 cycle. This position is for continued employment.
| Case Number | I-200-23255-339270 |
| Case Status | Certified |
| Visa Class | H-1B |
| Fiscal Year | FY 2023 |
| Employer | CIBC Bank USA |
| Employer Location | New York, New York |
| Job Title | Credit Portfolio Manager |
| SOC Code | 13-209901 – Financial Quantitative Analysts |
| Worksite | Chicago, Illinois |
| Annual Wage | $146k |
| Prevailing Wage | $124k |
| Wage Premium | +17.5% |
| Positions | 1 (0 new, 1 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Managing Director, Sr. Portfolio Manager, Mid-Corporate Bank | $159k | CERTIFIED | Sep 19, 2025 |
| Managing Director, Sr. Portfolio Manager, Mid-Corporate Bank | $159k | CERTIFIED | Sep 18, 2025 |
| Risk Data and Transformation Lead | $185k | CERTIFIED | Sep 17, 2025 |
| Director, Application Development | $237k | CERTIFIED | Sep 17, 2025 |
| Data Governance Analyst | $202,738k | CERTIFIED | Aug 14, 2025 |
This Labor Condition Application (LCA) was filed by CIBC Bank USA for the position of Credit Portfolio Manager in Chicago, Illinois. The offered annual salary is $146k, compared to the prevailing wage of $124k for this occupation and location. This represents a wage premium of +17.5% 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: Certified. This means the Department of Labor has certified that the employer meets the wage and working condition requirements.
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, CIBC Bank USA filed LCA case number I-200-23255-339270 to sponsor a Credit Portfolio Manager position at their worksite in Chicago, Illinois. 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 $146k compares to the DOL prevailing wage of $124k for Financial Quantitative Analysts positions in the Chicago, Illinois area. The positive wage premium of +17.5% 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" status means the DOL has reviewed CIBC Bank USA's attestations and determined that the LCA meets all regulatory requirements. The employer has demonstrated that the offered wage of $146k meets or exceeds the prevailing wage for Credit Portfolio Manager positions in the Chicago, Illinois area. It is important to understand that LCA certification does not guarantee H-1B visa approval. The next step is for the employer to file Form I-129 with USCIS, which evaluates whether the position qualifies as a specialty occupation and whether the beneficiary has the required qualifications.
This LCA was received by the DOL on Sep 12, 2023 and a decision was rendered on Sep 19, 2023, a processing time of approximately 7 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 $146k for this Credit Portfolio Manager 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 Credit Portfolio Manager position at CIBC Bank USA is $146k. The Department of Labor prevailing wage for this occupation and location is $124k. The offered wage represents a +17.5% premium over the prevailing wage.
This H-1B filing is for a position located in Chicago, Illinois. The employing company, CIBC Bank USA, is headquartered in New York, New York.
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 CIBC Bank USA, located in New York, New York. CIBC Bank USA filed this Labor Condition Application (case number I-200-23255-339270) for a Credit Portfolio Manager position during fiscal year FY 2023. View all CIBC Bank USA H-1B filings.
Certified means the U.S. Department of Labor has approved this Labor Condition Application, confirming that CIBC Bank USA has attested to meeting all wage and working condition requirements. A certified LCA does not guarantee H-1B visa approval — the employer must still file a separate petition (Form I-129) with USCIS.