For-profit firms are limited in their ability to hire new, foreign-born, highly-educated workers after quotas on H-1B work permits are met each year, though they are able to hire existing H-1B employees at for-profit firms. Universities and other non-profit research institutions do not face the same restrictions. Available permits are exhausted quickly in some but not all years. This paper estimates how H-1B scarcity affects wages paid to H-1B workers. Wage offers to H-1B workers with an advanced degree from US institutions increased 3.1% after general H-1B quotas were reached in 2007 — a year of acute permit scarcity. Offers to established H-1B workers declined 2.2%.