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 Risk Specialists positions in Utah, the average prevailing wage is $80k, while employers typically offer $92k — representing a 15% premium above the floor.
Employers hiring Financial Risk Specialists professionals in Utah offer an average salary of $92k against a prevailing wage of $80k. On average, H-1B employers pay 15% above the prevailing wage for this occupation. This data is based on 9 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 Risk Specialists in Utah is $80k. Employers typically offer $92k, which is a 15% premium above the prevailing wage, based on 9 filings.
Prevailing wages vary by geographic region based on local cost of living and labor market conditions. Utah's prevailing wage for Financial Risk Specialists of $80k reflects the regional labor market. Employers should consult the DOL's Online Wage Library for the most current figures.