Yup, the first thing I thought when I read this: I hope this doesn't end up hurting non-resident applicants to YC.
The "prevailing wages" for an engineering position (the minimum salary the company can pay an engineer on a H1B visa) in CA are about $75K. This means that there is almost no leeway even if only one of the founders needs an H1B: this funding alone would not cover it.
YC is very aware and supportive of immigrant entrepreneurs though, so I am sure they are already thinking about this.
Two mitigating facts:
- It is prudent to have enough money in the bank to pay the H1B employee for a year, but this is not a requirement before filing for an H1B, especially if you can show that there are other ways the company can continue to pay the employee. Most significantly: revenue :)
- The H1B is not the only route available to non-resident entrepreneurs: the O1 visa is another option, although the requirements are more stringent.
I have had to cross a few of these bridges myself, so if I can be of help to anyone reading this, please email me: hnusername@domainINprofile.com
The company has to prove that it will be able to pay the employee's salary for the duration of the visa. A lump sum in the bank is the easiest way of doing this. A steady or growing revenue stream per month is another way.
The "prevailing wages" for an engineering position (the minimum salary the company can pay an engineer on a H1B visa) in CA are about $75K. This means that there is almost no leeway even if only one of the founders needs an H1B: this funding alone would not cover it.
YC is very aware and supportive of immigrant entrepreneurs though, so I am sure they are already thinking about this.
Two mitigating facts:
- It is prudent to have enough money in the bank to pay the H1B employee for a year, but this is not a requirement before filing for an H1B, especially if you can show that there are other ways the company can continue to pay the employee. Most significantly: revenue :)
- The H1B is not the only route available to non-resident entrepreneurs: the O1 visa is another option, although the requirements are more stringent.
I have had to cross a few of these bridges myself, so if I can be of help to anyone reading this, please email me: hnusername@domainINprofile.com