H-1B Visa New Job? How to Succeed Financially

If you are starting a job on H-1B visa, there are  a couple things you should do for long-term financial success. 


Every year, the government conducts an H-1B lottery to determine who will get a chance to actually file and process their H-1B working visa. (1)

There is a cap of 65,000 and another 20,000 for those with master’s degrees. (2)

If you are one of the lucky ones to be selected and approved, you’ll be starting at your new job in October of 2021.

The H-1B visa gives you the right to work and earn a living initially for 3 years. It can be extended for a further 3 years for a total of 6 years.

There is a possibility to have a longer extension, but that only happens under special circumstances while waiting for your green card to be processed.

During those 3 or 6 years, you’ll have a U.S. address, a social security number, and the right to make the most of your income.  The first two are key to becoming a participant in the US financial system.

Most of the H-1B visas end up with people working in the STEM space. This means, you are likely going to be making 6 figures or very high 5 figures.

If new to the country, it can be very confusing on what to do first or what to sign up for. It’s possible to waste a lot of time trying to figure things out.

To help you out, I have created another FREE resource that will address the top 6 things to do to set yourself up financially, if starting on a new job as a visa holder.

The post refers to H-1B visa, but it’s applicable to any type of work visa for example TN, L etc.

It’s especially important if you are coming from a country with a financial system different from the U.S. 

In this FREE resource, I highlight a couple areas that will lead to financial success. Some of the areas, I discuss include

Workplace Benefits on H-1B Visa

I discuss some of the common workplace benefits, like HSA accounts, retirement vehicles, legal help etc. which are available to everyone. But even more critical to somebody starting out fresh.

Career Success on H-1B Visa

There are certain things you want to do to ensure that you not only keep your job, but that you also thrive and succeed. I discuss a few of these items, including how to relate to your boss and other people in the company. I go into details on company culture and the actual definition of success.

Integrating Into the Community on H-1B Visa

This last one will be a key factor in being able to adapt quickly to your new country. It will also be vital in helping you make connections that are so key to not only good mental health, but your overall wellbeing.

It’s a lot easier to mix with people from your background especially when you are starting out. But it’s key to know the local community and become a part of your neighborhood.

We fear what we don’t understand, and we sometimes discriminate against those we don’t know. Hence, it’s important to become a part of your local community to help mitigate some of these issues.

There are other areas of finances to investigate, like

I’ll be addressing more of this in future posts, but in the meantime, grab this free resource for yourself and get started right away.

6 Top Things To do to Set Yourself up for Success if Starting a Job on H-1B Visa


(1) https://www.uscis.gov/working-in-the-united-states/temporary-workers/h-1b-specialty-occupations-and-fashion-models/h-1b-electronic-registration-process

(2) https://www.uscis.gov/working-in-the-united-states/temporary-workers/h-1b-specialty-occupations-and-fashion-models/h-1b-cap-season

To continue being a part of the conversation on financial issues that  affect foreign-born families subscribe to Elgon’s blog posts by  email here.

Disclaimer:  This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for the purchase or sale of any security, investment advisory services, or legal advice. I encourage you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Jane Mepham and all rights are reserved. Read the full disclaimer here.

Jane Mepham, CFP® is a Fee-Only financial planner who loves simplifying the complexities of the U.S. financial system for immigrants and foreign nationals on work visas and those in tech. She’ll work with you to map out a personal strategy that addresses all areas of your financial life while avoiding key financial mistakes that could derail your American dream.

Recent Articles

Investing on a work visa

If On A Work Visa, Should I Invest In 401k And Other Special Accounts?

One of the questions I get all the time is how to invest in the US stock market using special accounts like Roth IRAs, HSAs, 401ks, 529, etc. on an H-1B or other work visa (L-1, O-1, H1B1, TN, and E3)

This is keeping in mind that work visas are by nature temporary non-immigrant visas and technically the holder is expected to depart the US after the work assignment.

The post is a summary of a more in-depth technical, nerdy paper written for advisors on the Nerds Eye View Blog by Michael Kitces.

money lessons from my mother

You Know What My Mother Taught Me About Money?

My mother grew up in a very male-dominated society, where girls had to do extra to make it. She wanted her girls to have a better shot at this thing called life than she did. To accomplish this she embarked on a lot of life lessons, especially on money matters.

In this post, I discuss the three money lessons she taught us, in honor of Mother’s Day.

Unique Financial Planning Strategies for immigrants

Unique Financial Planning Strategies For Immigrants & Foreign Nationals

What financial planning strategies do you need if you are foreign-born (immigrant) or a foreign national?”

If you are one of the 45 million foreign-born individuals now calling the US home, you have specific financial planning needs that go beyond what a traditional financial planner offers.

Read on for strategies that will allow you to maximize your US resources and your worldwide assets while staying tax compliant.