FAANMG uses H-1B to depress everyone’s wages
No, FAANMG does not explicitly pay less to those on visas. That’s not what’s happening. Read on...
We already know that large big-name tech companies have gone to many lengths, including illegal collusion by restricting recruiting, to prevent their employees from switching jobs. This is wage theft.
What they’re doing now, to reduce EVERYONE’s wages, is using the restrictive nature of the H-1B to discourage ~25% of their tech employees from switching jobs. This distorts the market for EVERYONE, not just for those on visas.
Consider a hypothetical 4-person team.
Situation A: Anyone on this team might leave, better give everyone a decent raise (provided their perf was fine) because I don’t want to have to find multiple people this year.
Situation B: Sid and Li definitely won’t leave because they’re on H-1B lmao. Only the 2 others might. In all likelihood, at most one person would leave. Eh, fuck it, I’ll just give a bare minimum 3% raise. I can also delay Li’s promotion, because it’s not like he’ll leave.
This is also wage theft, and is equally bad.
The problem at FAANMG is not as simple as demand/supply. As we know, most FAANMG companies have significant engineering teams in UK/India/China/Israel with expansion plans. Eliminating H-1B entirely would just make them hire people there instead of bringing them here. (Yes it would prevent Disney-type scenarios but FAANG does not engage in that).
Rather, the solution is giving everyone equal rights to freely quit their job and join another company or start their own. They should not be beholden to their employer in any way.
HR392 will enable this. If you work at a FAANMG, support HR392 and you’ll see your wages increase over the next few years regardless of your immigration status. It is not a perfect bill, but it is the only politically feasible bill. Done is better than perfect.