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I am working for a company as a Software developer on Fulltime basis for last 1.5 year .I have 4 years of experience . Its a product based company with about 60 employees. I am working on Java,PHP and MySql . The company holds my H1b , although they wont be doing the green card process . I am paid 75k / year + benefits . My friend who are consulting they are making around 100k / year . Will it be worth it to switch to consulting company rather than being a fulltime employee ?

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You friend would always 'make' more than you/ other side is greener. I'd suggest you to stay with your FTE. It's peace of mind. You need to choose peace of mind or money. Ask to your employer if you can hire your own attorney to file your employer based GC. Consulting means, more money, more travel, more complex job, more risk of being out of job, more risk of immigration issues.

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Only you can answer that. Are they getting benefits? Is the visa process smooth for them or are they skulking here for long periods with the consequent inability to travel. To be honest the amounts you mention are not totally unknown in India. About your skill set I have no idea. But you have a few years to get into maybe the Redmond company and likewise.

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It depends on your plans for the future. If all you want is to gain a few years of work experience and then return to your country, then Green Card is not an issue.

If you plan to remain here for a very long time/fully emigrate, then you need a company that will sponsor Green Card for you. This means you should start looking for such a company and one that will pay at least the 75k that you are currently earning. There are large software companies (especially in Silicon Valley and other tech hubs) that pay at least 75K and are willing to sponsor your Green Card

Also, consulting companies are not the only ones who will pay you up to 100k. The big Silicon Valley companies are supposedly paying big money to attract software engineers. Even if you decide to go consulting, you can try management consulting companies such as Deloitte, Mckinsey, Ernst and Young, etc. Those ones pay better, are usually willing to sponsor Green Cards and their employees don't have much of a problem getting their H1B stamp

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