H1Bs instead need to be paid more than the prevailing wage for the position, the theory being that they will therefore not be favoured over Americans.
Here's how it *really* works:
First, realize that the largest two companies who hoover up H1-B visas are... companies HQ'd in India. Infosys and Tata, to be specific, who combined swallow the vast majority of the visas. They in turn offer their 'consultants' to companies like Disney on a contract basis. This in turn means that Disney actually pays way less per head... here's why:
* The contractor status of each H1-B means that Disney no longer has to pay the 401k/insurance/regulatory/etc costs that they would have to pay an employee, thus cutting their base cost per head by roughly half.
* To comply with your assertion (which is correct, BTW), Disney pays Tata/Infosys something like 110% of the typical posted (not actual, but "posted") salary for the job per head, thus fulfilling your requirement, but still saving Disney roughly half the cost per head or more, depending on what they were paying the guy that the H1-B replaced.
* Tata/Infosys in turn pay their 'consultants' a pittance - say 50-70% of what they get - which generates profit for them.
Now you may be thinking that the consultants are victims, but in reality they're not: In return, the H1-B 'consultant' comes here, busts his ass, and tries like Hell to find a means to stay here permanently. He doesn't mind the pittance, because he's after the opportunity to stay on after the contract is up. Failing that, he is still infinitely more marketable job-wise back in India once he returns, so it's all upside for him, in exchange for busting ass here.