Exceptional Ability - EB-2
The employment-based 2nd preference category is for aliens who are members of the professions holding advanced degrees, or aliens of exceptional ability.  Advanced degree means any United States academic or professional degree or a foreign equivalent degree above that of baccalaureate.  The United States baccalaureate degree or a foreign equivalent degree followed by at least five (5) years of progressive experience in a specialty occupation shall be considered the equivalent of a master's degree.

Exceptional Ability
Exceptional ability in the sciences, arts, or business means a level of expertise significantly above that ordinarily encountered in the sciences, arts, or business. 

Profession
Profession means one of the occupations listed in Section 101(a)(32) of the Act, as well as any occupation for which a United States baccalaureate degree or its foreign equivalent is the minimum requirement for entry into the occupation. 

The regulations set forth the type of documentation needed to establish that the alien has the requisite degree or that the alien is of exceptional ability in the sciences, arts, or business.  Every petition under this classification must be accompanied by an individual labor certification from the Department of Labor, or USCIS may exempt the requirement of a job offer, and thus of a labor certification, for aliens of exceptional ability in the sciences, arts, or business if such an exemption would be in the national interest.  To apply for this exemption the alien must submit significant evidence to support the claim that such exemption would be in the national interest.