Depends on what sort of engineering or if it’s is grudge work IT.
As far as a new grad, I don’t think h1bs really affect things that much.
New grads tend to be cheap. We we hired new grads, it wasn’t pay that mattered. It was how solid the candidate was. We paid the same regardless of their visa status.
I am sure though, there are plenty that would disagree though. Particularly those that aren’t engineers.