The prevailing wage is the minimum salary the Department of Labor requires H-1B employers to pay for a given occupation and location. For Financial Managers positions in New Jersey, the average prevailing wage is $181k, while employers typically offer $193k — representing a 7% premium above the floor.
Employers hiring Financial Managers professionals in New Jersey offer an average salary of $193k against a prevailing wage of $181k. On average, H-1B employers pay 7% above the prevailing wage for this occupation. This data is based on 11 H-1B filings.
The prevailing wage is determined by the Department of Labor based on the occupation, skill level, and geographic area. It ensures that hiring foreign workers does not adversely affect the wages of similarly employed U.S. workers. Employers must pay H-1B workers at least the prevailing wage or the actual wage paid to similar employees, whichever is higher.
The average prevailing wage for Financial Managers in New Jersey is $181k. Employers typically offer $193k, which is a 7% premium above the prevailing wage, based on 11 filings.
Prevailing wages vary by geographic region based on local cost of living and labor market conditions. New Jersey's prevailing wage for Financial Managers of $181k reflects the regional labor market. Employers should consult the DOL's Online Wage Library for the most current figures.