Let's say that this was honestly true. H-1Bs have been around for what, 30ish years now? If we assume that the sole purpose of H-1Bs was to lower wages, then we should've seen slow wage growth or wage depression for software engineers.
But the reality seems to be the opposite which is that salary growth for H-1B positions seems to be among the highest wages in the country. It seems absurd to make that claim considering many other countries pay software engineers far less and America is considered an outlier with how much we tend to be paid.
This isn't to say that H-1Bs aren't abused because H-1Bs themselves do tend to be paid a lot less and come with a whole host of restrictions that make job seeking difficult. But overall I don't think the claim that it depresses wages necessarily holds water. If anything what would be likely is companies expanding international offices (which many already are doing) so that they can have access to the same cheap labor pool and avoid paying the absurd SV rates for Americans.
There are some convincing studies that suggest otherwise. Combined with the fact that tech CEOs speak openly that salaries are too high, and conspire with each other to lower them, it seems fairly likely this is what's happening.
Specifically, this study, which is convincing to me, but always interested in other ideas. This one is a kind of natural experiment so the data are randomized (because companies are awarded via lottery): https://gspp.berkeley.edu/assets/uploads/research/pdf/h1b.pd...
Let's say that this was honestly true. H-1Bs have been around for what, 30ish years now? If we assume that the sole purpose of H-1Bs was to lower wages, then we should've seen slow wage growth or wage depression for software engineers.
But the reality seems to be the opposite which is that salary growth for H-1B positions seems to be among the highest wages in the country. It seems absurd to make that claim considering many other countries pay software engineers far less and America is considered an outlier with how much we tend to be paid.
This isn't to say that H-1Bs aren't abused because H-1Bs themselves do tend to be paid a lot less and come with a whole host of restrictions that make job seeking difficult. But overall I don't think the claim that it depresses wages necessarily holds water. If anything what would be likely is companies expanding international offices (which many already are doing) so that they can have access to the same cheap labor pool and avoid paying the absurd SV rates for Americans.