PT Financial Companies, LLC · Chicago, Illinois
Case #I-200-21195-461017
PT Financial Companies, LLC filed an H-1B petition for a Investment Banking Senior Analyst position in Chicago, Illinois at $90k per year — 12% above the prevailing wage of $80k. The case was denied in 6 days during the FY FY2021 cycle. This position is for continued employment.
| Case Number | I-200-21195-461017 |
| Case Status | Denied |
| Visa Class | H-1B |
| Fiscal Year | FY 2021 |
| Employer | PT Financial Companies, LLC |
| Employer Location | Chicago, Illinois |
| Job Title | Investment Banking Senior Analyst |
| SOC Code | 13-205100 – Financial Analysts |
| Worksite | Chicago, Illinois |
| Annual Wage | $90k |
| Prevailing Wage | $80k |
| Wage Premium | +12.4% |
| Positions | 1 (0 new, 0 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Investment Banking Senior Analyst | $90k | CERTIFIED | Jul 21, 2021 |
This Labor Condition Application (LCA) was filed by PT Financial Companies, LLC for the position of Investment Banking Senior Analyst in Chicago, Illinois. The offered annual salary is $90k, compared to the prevailing wage of $80k for this occupation and location. This represents a wage premium of +12.4% 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, PT Financial Companies, LLC filed LCA case number I-200-21195-461017 to sponsor a Investment Banking Senior Analyst 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 $90k compares to the DOL prevailing wage of $80k for Financial Analysts positions in the Chicago, Illinois area. The positive wage premium of +12.4% 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 PT Financial Companies, LLC'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 Jul 14, 2021 and a decision was rendered on Jul 20, 2021, a processing time of approximately 6 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 Senior 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 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 Banking Senior Analyst position at PT Financial Companies, LLC is $90k. The Department of Labor prevailing wage for this occupation and location is $80k. The offered wage represents a +12.4% premium over the prevailing wage.
This H-1B filing is for a position located in Chicago, Illinois. The employing company, PT Financial Companies, LLC, is headquartered in Chicago, Illinois.
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 PT Financial Companies, LLC, located in Chicago, Illinois. PT Financial Companies, LLC filed this Labor Condition Application (case number I-200-21195-461017) for a Investment Banking Senior Analyst position during fiscal year FY 2021. View all PT Financial Companies, LLC 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.