To a large number of observers, the now financial center of the universe is London, not New York City (see this and this [1]). I’m sure many of you will find it ridiculous but well, whatever you believe doesn’t change the deteriorating reality. Let’s see why what is what from an immigration view point [1.5]. Historically, America was famous as the Disneyland for talents. It doesn’t seem to be the case nowadays.

US. H1B Program.

Suppose that you’re an international citizen. You will need to apply for an H1B visa in order to work in the US. It’s a complex program but generally speaking, here are some relevant facts to keep in mind:

  • You need a job offer and the sponsorship from an American company/institution in order to apply for the visa. Even if you’re a semi-superman but living in another country (or your country) at the time you apply for jobs, it isn’t that easy to get such an offer.
  • Let’s keep assuming that you’re a semi-superman. You still may have to enter the H1B lottery game to decide your fate. The lottery is very likely if you don’t hold an advanced degree (Master or PhD).

How many talents would be crossed out by this system? A lot, I assume. Moreover, this complicated and hilarious process does discourage many smarties and a good percentage of them just don’t give a damn working in the US.

UK. Points-based Immigration System.

The UK has a fundamentally different program called Highly Skilled Migrant Program (HSMP) [2], besides the usual work permit system. Basically, you earn points by your track record including education level, age (the younger the better), income, UK experience, etc.. If you have enough points (75), you are automatically qualified to enter and work/do business in the country. No a priori job offer needed. No sponsorship. No quota and no lottery.

If you’ve received a PhD (50 points) from a UK university (5pts) and you’re 27 (20pts), then boom: they (British people) red carpet to welcome you. If your PhD is from somewhere else, a little income will qualify you as well. Until recently, an MBA from a top business school would also give you the unconditional access. Try this HSMP calculator to see if you fit in this highly discriminating system.

Is it similar to America post World War II?

Footnotes

[1] The NYTimes and Fortune magazine articles were published in 10/2006 and 08/2007 (respectively), when the US economy was much stronger than it is now. There are also numerous other writings on this newly debated subject.

[1.5] The rising or London (or decline of NYC) and their immigration policies are correlated. However, this article doesn’t assert with confidence that one is the cause of the other. On the cause, some joked that the British merely benefits from the influx of Russian millionaires/billionaires.

[2] The HSMP is being phased out and replaced by a similar program called Points-based Immigration System – Tier 1.