GFG Securities, LLC · Miami, Florida
Case #I-200-23122-986025
In FY2023, GFG Securities, LLC sought H-1B sponsorship for a Investment Assistant VP in Miami, Florida at $160k per year, which is 29% above the prevailing wage of $124k. The case was certified in 15 days during the FY FY2023 cycle. This position is for continued employment.
| Case Number | I-200-23122-986025 |
| Case Status | Certified - Withdrawn |
| Visa Class | H-1B |
| Fiscal Year | FY 2023 |
| Employer | GFG Securities, LLC |
| Employer Location | Miami, Florida |
| Job Title | Investment Assistant VP |
| SOC Code | 13-205100 – Financial and Investment Analysts |
| Worksite | Miami, Florida |
| Annual Wage | $160k – $160k |
| Prevailing Wage | $124k |
| Wage Premium | +29.3% |
| Positions | 1 (0 new, 1 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Investment Assistant VP | $160k | CERTIFIED | May 10, 2023 |
This Labor Condition Application (LCA) was filed by GFG Securities, LLC for the position of Investment Assistant VP in Miami, Florida. The offered annual salary is $160k, compared to the prevailing wage of $124k for this occupation and location. This represents a wage premium of +29.3% 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Case status: Certified - Withdrawn.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, GFG Securities, LLC filed LCA case number I-200-23122-986025 to sponsor a Investment Assistant VP position at their worksite in Miami, Florida. 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 $160k compares to the DOL prevailing wage of $124k for Financial and Investment Analysts positions in the Miami, Florida area. The positive wage premium of +29.3% 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 May 2, 2023 and a decision was rendered on May 17, 2023, a processing time of approximately 15 business days. The standard DOL processing time for LCA applications is 7 to 10 business days. This application took longer than the standard timeframe, which may indicate additional review was required.
The offered salary of $160k for this Investment Assistant VP 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 13-205100 (Financial and Investment 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 Investment Assistant VP position at GFG Securities, LLC is $160k to $160k. The Department of Labor prevailing wage for this occupation and location is $124k. The offered wage represents a +29.3% premium over the prevailing wage.
This H-1B filing is for a position located in Miami, Florida. The employing company, GFG Securities, LLC, is headquartered in Miami, Florida.
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 GFG Securities, LLC, located in Miami, Florida. GFG Securities, LLC filed this Labor Condition Application (case number I-200-23122-986025) for a Investment Assistant VP position during fiscal year FY 2023. View all GFG Securities, LLC 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.