Industrial and Commercial Bank of China Limited · NEW YORK, New York
Case #I-200-21218-508008
In FY2021, Industrial and Commercial Bank of China Limited sought H-1B sponsorship for a ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER in NEW YORK, New York at $132k per year, which is 31% above the prevailing wage of $100k. The case was certified in 7 days during the FY FY2021 cycle. This position is for continued employment.
| Case Number | I-200-21218-508008 |
| Case Status | Certified |
| Visa Class | H-1B |
| Fiscal Year | FY 2021 |
| Employer | Industrial and Commercial Bank of China Limited |
| Employer Location | New York, New York |
| Job Title | ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER |
| SOC Code | 13-205100 – Financial Analysts |
| Worksite | NEW YORK, New York |
| Annual Wage | $132k |
| Prevailing Wage | $100k |
| Wage Premium | +31.4% |
| Positions | 1 (0 new, 1 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Accounting Data Analyst | $112k | CERTIFIED | Dec 27, 2024 |
| ASSISTANT VICE PRESIDENT | $85k | CERTIFIED | Jul 24, 2023 |
| Data Governance Officer – DR | $180k | CERTIFIED | Jun 16, 2023 |
| Vice President | $170k | CERTIFIED | Apr 5, 2023 |
| Credit Analyst | $129k | CERTIFIED | Mar 20, 2023 |
View all Industrial and Commercial Bank of China Limited filings →
This Labor Condition Application (LCA) was filed by Industrial and Commercial Bank of China Limited for the position of ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER in NEW YORK, New York. The offered annual salary is $132k, compared to the prevailing wage of $100k for this occupation and location. This represents a wage premium of +31.4% 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, Industrial and Commercial Bank of China Limited filed LCA case number I-200-21218-508008 to sponsor a ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER position at their worksite in NEW YORK, New York. 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 $132k compares to the DOL prevailing wage of $100k for Financial Analysts positions in the NEW YORK, New York area. The positive wage premium of +31.4% 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 Industrial and Commercial Bank of China Limited's attestations and determined that the LCA meets all regulatory requirements. The employer has demonstrated that the offered wage of $132k meets or exceeds the prevailing wage for ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER positions in the NEW YORK, New York 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 Aug 6, 2021 and a decision was rendered on Aug 13, 2021, 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 $132k for this ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER 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 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/MONEY MARKET TRADER position at Industrial and Commercial Bank of China Limited is $132k. The Department of Labor prevailing wage for this occupation and location is $100k. The offered wage represents a +31.4% premium over the prevailing wage.
This H-1B filing is for a position located in NEW YORK, New York. The employing company, Industrial and Commercial Bank of China Limited, 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 Industrial and Commercial Bank of China Limited, located in New York, New York. Industrial and Commercial Bank of China Limited filed this Labor Condition Application (case number I-200-21218-508008) for a ASSISTANT VICE PRESIDENT/MONEY MARKET TRADER position during fiscal year FY 2021. View all Industrial and Commercial Bank of China Limited H-1B filings.
Certified means the U.S. Department of Labor has approved this Labor Condition Application, confirming that Industrial and Commercial Bank of China Limited 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.