Foreign graduates of American universities are out-earning their U.S.-born peers and making a significant impact on the economy, according to a new analysis by the Economic Innovation Group.

In 2023, workers who first arrived in the United States on student visas earned a median salary of $115,000. In comparison, native-born workers with at least a college degree earned $87,000. This 32 percent wage premium applies to about 2.1 million full-time workers who originally came to the U.S. as international students.

Foreign graduates tend to have higher education levels. They are nearly twice as likely to hold a master’s degree and more than six times as likely to have a PhD compared to native-born workers. Over half of these graduates earned degrees in science, technology, engineering, math, or health, fields that are in high demand.

The wage gap is even more pronounced in certain industries. In the information sector, foreign graduates earn $86,000 more than their native-born counterparts. Graduates from India and China are among the top earners, with Indian graduates reporting a median income of $146,000.

Foreign graduates also play a crucial role in research and innovation. Twenty-seven percent work in research and development, compared to just 12 percent of native-born workers. Studies show that a 10 percent increase in foreign graduates leads to a 2.0 to 3.6 percent rise in new patents. Immigrant founders, many of whom first arrived on student visas, are behind 20 percent of venture-capital-backed startups and one quarter of billion-dollar “unicorn” companies.

These findings come as U.S. immigration policy faces new restrictions. The Trump administration has announced plans to revoke visas for Chinese students, raising concerns about the future supply of high-skilled talent. The Economic Innovation Group warns that limiting international students’ ability to stay and work in the U.S. would harm the country’s research and development ecosystem.