Swiss Re Management (US) Corporation · New York, New York
Case #I-200-21152-359471
Swiss Re Management (US) Corporation filed an H-1B petition for a Portfolio Manager position in New York, New York at $132k per year — 0% above the prevailing wage of $132k. The case was certified in 1,045 days during the FY FY2021 cycle. This position is for continued employment.
| Case Number | I-200-21152-359471 |
| Case Status | Certified - Withdrawn |
| Visa Class | H-1B |
| Fiscal Year | FY 2021 |
| Employer | Swiss Re Management (US) Corporation |
| Employer Location | Armonk, New York |
| Job Title | Portfolio Manager |
| SOC Code | 13-209901 – Financial Quantitative Analysts |
| Worksite | New York, New York |
| Annual Wage | $132k – $135k |
| Prevailing Wage | $132k |
| Wage Premium | 0.0% |
| Positions | 1 (0 new, 1 continued) |
| Job Title | Salary | Status | Date |
|---|---|---|---|
| Credit Risk Manager | $122k | CERTIFIED | May 28, 2024 |
| Legal Counsel | $193k | CERTIFIED | Feb 23, 2024 |
| Engineering Lead IP Quality Assurance | $145k | CERTIFIED | May 17, 2024 |
| Nat Cat Specialist | $87k | CERTIFIED | Apr 17, 2024 |
| Junior Portfolio Manager | $113k | CERTIFIED | Apr 15, 2024 |
This Labor Condition Application (LCA) was filed by Swiss Re Management (US) Corporation for the position of Portfolio Manager in New York, New York. The offered annual salary is $132k, compared to the prevailing wage of $132k for this occupation and location. This represents a wage premium of 0.0% 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Case status: Certified - Withdrawn.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, Swiss Re Management (US) Corporation filed LCA case number I-200-21152-359471 to sponsor a Portfolio Manager 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 $132k for Financial Quantitative Analysts positions in the New York, New York area. The positive wage premium of 0.0% 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 Jun 1, 2021 and a decision was rendered on Apr 11, 2024, a processing time of approximately 1045 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 $132k for this Portfolio Manager 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 13-209901 (Financial Quantitative 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 Portfolio Manager position at Swiss Re Management (US) Corporation is $132k to $135k. The Department of Labor prevailing wage for this occupation and location is $132k. The offered wage represents a 0.0% premium over the prevailing wage.
This H-1B filing is for a position located in New York, New York. The employing company, Swiss Re Management (US) Corporation, is headquartered in Armonk, 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 Swiss Re Management (US) Corporation, located in Armonk, New York. Swiss Re Management (US) Corporation filed this Labor Condition Application (case number I-200-21152-359471) for a Portfolio Manager position during fiscal year FY 2021. View all Swiss Re Management (US) Corporation 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.