Financial Investment Analyst

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About This H-1B Filing

This Labor Condition Application (LCA) was filed by Goal Investment Group, Inc. for the position of Financial Investment Analyst in San Diego, California. The offered annual salary is $4,456k, compared to the prevailing wage of $86k for this occupation and location. This represents a wage premium of +5100.0% 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: Denied. This means the Department of Labor has denied the application, possibly due to wage or documentation issues.

Understanding This LCA Filing

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.

Why Employers File LCAs

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, Goal Investment Group, Inc. filed LCA case number I-200-24079-813691 to sponsor a Financial Investment Analyst position at their worksite in San Diego, California. 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.

What Wage Levels Mean

The DOL establishes four wage levels for each occupation and geographic area, representing the progression from entry-level to fully competent workers:

• Level 1 (Entry) — Workers who have a basic understanding of the occupation and perform routine tasks under close supervision. Typically offered to recent graduates or those new to the role.
• Level 2 (Qualified) — Workers who have a good understanding of the occupation and can exercise independent judgment on moderately complex tasks.
• Level 3 (Experienced) — Workers who have a deep understanding and special skills, capable of handling unusual or complex problems with minimal supervision.
• Level 4 (Fully Competent) — Workers who are recognized experts in the field, exercising authority and independent judgment on the most complex aspects of the occupation.

For this filing, the offered wage of $4,456k compares to the DOL prevailing wage of $86k for Financial and Investment Analysts positions in the San Diego, California area. The positive wage premium of +5100.0% indicates the employer is offering above the DOL-determined average for this occupation and location.

What is Prevailing Wage?

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.

How to Interpret This Data

What Denied Means for This Application

A "Denied" status means the DOL has determined that Goal Investment Group, Inc.'s LCA did not meet one or more regulatory requirements. Common reasons for denial include: the offered wage falling below the prevailing wage, errors in the application, failure to properly attest to working conditions, or prior violations by the employer. The employer may correct the identified issues and submit a new LCA.

Processing Time

This LCA was received by the DOL on Mar 19, 2024 and a decision was rendered on Mar 21, 2024, a processing time of approximately 2 business days. The standard DOL processing time for LCA applications is 7 to 10 business days. This application was processed within the standard timeframe.

Comparing to Industry Standards

The offered salary of $4,456k for this Financial Investment 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 13-205100 (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.

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