Olden Lane, Inc. · Bridgewater, New Jersey
Case #I-200-24068-784494
A Investment Banking Associate position at Olden Lane, Inc. in Bridgewater, New Jersey was filed at $90k per year, offering 9% above the prevailing wage of $82k. The case was denied in 4 days during the FY FY2024 cycle. This position is for continued employment. The filing covers 2 positions.
| Case Number | I-200-24068-784494 |
| Case Status | Denied |
| Visa Class | H-1B |
| Fiscal Year | FY 2024 |
| Employer | Olden Lane, Inc. |
| Employer Location | Bridgewater, New Jersey |
| Job Title | Investment Banking Associate |
| SOC Code | 13-205100 – Financial and Investment Analysts |
| Worksite | Bridgewater, New Jersey |
| Annual Wage | $90k – $100k |
| Prevailing Wage | $82k |
| Wage Premium | +9.4% |
| Positions | 2 (2 new, 0 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Investment Banking Associate | $90k | CERTIFIED | Mar 26, 2024 |
| Investment Banking Associate | $90k | WITHDRAWN | Mar 8, 2024 |
This Labor Condition Application (LCA) was filed by Olden Lane, Inc. for the position of Investment Banking Associate in Bridgewater, New Jersey. The offered annual salary is $90k, compared to the prevailing wage of $82k for this occupation and location. This represents a wage premium of +9.4% 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: Denied. This means the Department of Labor has denied the application, possibly due to wage or documentation issues.
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, Olden Lane, Inc. filed LCA case number I-200-24068-784494 to sponsor a Investment Banking Associate position at their worksite in Bridgewater, New Jersey. 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 $90k compares to the DOL prevailing wage of $82k for Financial and Investment Analysts positions in the Bridgewater, New Jersey area. The positive wage premium of +9.4% 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 "Denied" status means the DOL has determined that Olden Lane, 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.
This LCA was received by the DOL on Mar 8, 2024 and a decision was rendered on Mar 12, 2024, a processing time of approximately 4 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 $90k for this Investment Banking Associate 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.
This LCA covers 2 positions (2 new hires, 0 continued employment), indicating that Olden Lane, Inc. has multiple openings for this role. Multi-position LCAs are common among larger employers who need to hire several workers for the same job classification and location.
The offered annual salary for this Investment Banking Associate position at Olden Lane, Inc. is $90k to $100k. The Department of Labor prevailing wage for this occupation and location is $82k. The offered wage represents a +9.4% premium over the prevailing wage.
This H-1B filing is for a position located in Bridgewater, New Jersey. The employing company, Olden Lane, Inc., is headquartered in Bridgewater, New Jersey.
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 Olden Lane, Inc., located in Bridgewater, New Jersey. Olden Lane, Inc. filed this Labor Condition Application (case number I-200-24068-784494) for a Investment Banking Associate position during fiscal year FY 2024. View all Olden Lane, Inc. H-1B filings.
Denied means the U.S. Department of Labor has rejected this Labor Condition Application. Common reasons for denial include offering a wage below the prevailing wage, incomplete documentation, failure to properly attest to working conditions, or prior violations.