[dragonwriter]

> But right now H1b is basically the only way to get hired as an immigrant.

No, it's not. (It's technically not even a way to be hired as an immigrant, and there are work-based immigrant visas as well.as other work-eligible non-immigrant visas.)

> If you made it wage-prioritized there would be basically no way to get an h1b for entry level jobs

That's not even theoretically the purpose of the H-1B, and I'm not really convinced we need to import entry level workers.

> which would really suck for new graduates.

I'm not sure “it would reduce the incentive for US colleges to train foreigners rather than Americans for entry-level jobs in high-demand, high-paying professions in America” is an argument against a policy change.