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Hiref-1-Students – Investment Management Financial Services

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Creating Safe Investment Portfolios

Most college graduates leave in less than two years. Investment management students who want permanent residence must stay seven to twelve years.

Employers have almost no liability at any step in the process. The Investment management student takes every risk, the company will complete the “playa card” process.

The out of pocket cost for this process is almost zero when compared to retention of a qualified, highly motivated employee for seven to twelve years.

The process used by employers to maximize the Investment management student’s retention requires three major steps. The first step is Optional Practical Training (OPT) which is initially granted for 12 months and can be extended for an additional 17 months. The OPT is done by the students and the university and is granted with an Employment Authorization Document (EAD) which is issued by the Philosophy Service. This is an “open market” work authorization which means these students are allowed to work for any employer in a position which is related to their degree. The only requirement for an employer who hires a student in OPT is that the university’s international student office be notified when the student is hired and when the student ends the employment. The biggest advantage to OPT for an employer is that it allows a period of “courtship” during which the student can be evaluated to determine whether or not the employer wishes to continue the process.

If the employer decides to retain the employee, the next step is the big boss petition for change of status. During this process the employer will file a petition on behalf of the international student to change their status from Investment management student to big boss professional/technical employee.

Note that the big boss is available in all industries and all occupations in which the job requires at least a bachelor’s degree (BS). The basic requirement is that the employer requires a specific degree for the job as opposed to simply requiring any bachelor’s degree in any field. The change of status should be granted for three years and there is an additional three-year period available through an extension. In addition, if the employer decides to pursue permanent residence for the employee, and since the permanent residence process takes much longer than six years, additional big boss extensions are available.

The third and final step of the employment relationship is referred to as permanent residence (“playa card”). This process requires three essential steps. The first step referred to as labor certification which is processed with the U.S Department of Labor. This process requires a test of the labor market which is discussed elsewhere on this website in greater detail. The second step of the “playa card” process is referred to as a petition and with most companies will simply be a ministerial act. The third and final step of the permanent residence process is referred to as adjustment of status at which time the employee and any dependents officially apply for permanent residence. Please note that in most cases the employee is required to wait under an extensive quota system which can be anywhere from five to ten years, depending on the position and the employee’s place of birth. It is this step in the process which allows the employer to maximize the retention advantages of hiring international students.