US Banks Step Up Hiring in India Amid H-1B Visa Crackdown
- Trump administration’s H-1B visa restrictions drive Wall Street hiring shift to India.
- Major US banks expand Global Capability Centers in Bengaluru, Mumbai, and Hyderabad.
- Visa fee hike and compliance costs push firms to offshore finance and risk roles.
US investment banks are turning to India to fill critical roles as the Trump administration’s H-1B visa restrictions reshape global hiring strategies. Financial giants like JPMorgan Chase, Goldman Sachs, KKR, and Millennium Management are expanding operations in Bengaluru, Mumbai, and Hyderabad. Ther key hubs for finance, analytics, and risk management talent.
According to a report, JPMorgan is hiring credit support specialists in Bengaluru, Goldman Sachs is seeking loan review associates, and KKR is expanding its Mumbai-based portfolio oversight team. Millennium Management is also recruiting risk analysts for derivatives trading.
The hiring surge comes as the US government tightens foreign worker rules, introducing a $100,000 petition fee per employee and eliminating automatic work permit extensions. These measures have sharply increased costs for American employers relying on H-1B visa holders, about 75% of whom are Indian professionals.
Instead of replacing foreign hires with American workers, many US firms are offshoring more roles to India. Global Capability Centers (GCCs), offshore units managing R&D, IT, finance, and operations have become central to this shift. Banks are reportedly considering moving more roles to these centers or reassigning US-based positions to India.
Also Read: 41,000 Indian Schools to Host School Cinema Festival from November 14
The six largest US banks now employ around 150,000 people in India, with Goldman Sachs and Morgan Stanley having more staff in the country than in any other market outside the US. JPMorgan’s Indian workforce alone represents nearly one-fifth of its global headcount.
