Editor's Note: It's almost graduation season in China, which means a slew of articles about China's university graduates and the challenges that they face from the Chinese media. This article, translated from QQ News, purports that China's class of 2015 has salary expectations that are too high for the current job market. The author also writes that founding or working for start ups is more popular than ever for Chinese graduates and graduate school enrollment is at a low.
1) Employment Goals of Chinese Graduates | |||
- Find A Job | 57.1% | ||
- Found A Start Up | 23% | ||
- Go to Graduate School | 13.2% | ||
- Go Abroad | 3.1% | ||
- Wait A Few Years to Figure It Out | 3.1% | ||
2) Chinese Graduates Who Want to Found a Start Up | |||
- 2013 | 20.4% | ||
- 2014 | 22.7% | ||
- 2015 | 23% | ||
Chinese university graduates expect a monthly salary of 5,510 for their first five years out of school. In order meet their salary expectations, many young Chinese are now looking to move into the start up scene. In the past six years, the number of university graduates who want work at or found a start up has reached an all time high.
Show Me the Salary
Chinese graduates with a bachelor's degree expect a monthly salary of 5,500 Yuan. Students with a master's degree expect a salary of 6,630 Yuan and those with a PhD expect 8,060. Due to the larger proportion of undergraduate students in China, this breaks down to an average month salary of 5,510 Yuan.
Chinese students have higher salary expectations than in previous years. In 2014, Chinese graduates expected to make a salary of 3,680 Yuan, nearly 2,000 less. However, university graduates expected to make the most money back in 2011: 5,537.5 Yuan. In 2012 graduates expected to make 5,537,5 Yuan and in 2013, 3,680 Yuan.
The number seem to rise and decline every other year or so. As prices rise, overall wages increase and salary expectations of job seekers will also increase. However, if salary expectations are too high, it is difficult for young job seekers to find a suitable position.
Start Up Dreams
More than half of Chinese graduates think that the best place to find a job is in the field of entrepreneurship. This is 10% more than in 2014.
The number of Chinese graduates who want to work at start ups and other businesses has increased, while the number considering further postgraduate study has decreased. In the past few years, about 20% of graduates want to work at or found their own start ups. In 2015, 23% of graduates hoped to work at a start up, while only 13.2% planned to continue postgraduates studies.
This suggests that highly educated job seekers are less in demand than before as a considerable portion of those who would enter graduate school are now looking for work at start ups and other businesses.
A Tough Job Market
2015 has not been the worst year for young Chinese job seekers, but it has not been the easiest. The hardest year for graduates to find jobs was actually in 2009.
2015 has not been as bad as 2009, however, it is still harder to find jobs in 2015 than it was in a number of previous years. 2013 was thought of as a very difficult year to find jobs, but the job market was about the same or even slightly better then than it is now.
With a difficult job market, it seems that Chinese graduates' salary expectations are bit too high at the moment. Therefore, it would not be surprising that if the job market gets more difficult before it gets better.
Chinese graduates looking for employment are also less happy than in previous years, according to a survey. This most likely comes from the tough job market they are currently facing.
Source: QQ News
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Keywords: Chinese job market China start ups
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It seems that planning for start-ups rather than taking the traditional route of seeking employment is growing in popularity in America, too.
Jun 15, 2015 05:09 Report Abuse
I am an entrepreneur myself, and I am very excited to find like minded and passionate young individuals that want to create opportunities for themselves! Hopefully, when I move to China, I will encounter some of these recent grads!
Jun 08, 2015 03:36 Report Abuse
A company could offer me 8500rmb a month to start up with a busy job but I I only have college degree. If I have bachelor,my start up salary would be 10000rmb if it's a busy job. If I have master degree,my start up salary would be 15000rmb. I do not know why those highly certificated people make such low salary. Hopefully those are just the salary for their first year to start working
Jun 02, 2015 19:52 Report Abuse
Seriously? Those salary expectation are too low for me.
Jun 02, 2015 19:47 Report Abuse
Have you seen how most employers treat their staff in China? If I were a Chinese graduate I would go the route of trying to start my own business. Chinese are opening up to new ideas, new products and concepts... many are bored and looking to try new things. However, you have to be in a good position to start a business right out of school. Most people won't invest in a business with someone that has little to no work experience and most students don't have a lot of money to put up the capital themselves.
Jun 02, 2015 14:14 Report Abuse
what's more interesting, is why student's salary expectations are so skewed with reality year after year. too many self-aggrandizing dream speeches, and high praise from family, perhaps? i guess students' expectations are as realistic as their skills. the startup hopefuls are really just hoping to nestle themselves near the top of a pyramid scheme, so they collect profits while others do the work. that's the Chinese understanding of running a business.
Jun 02, 2015 13:13 Report Abuse
and i love how the averages were calculated: 5500 for bachelors, 6xxx for masters, and 8xxx for PhDs. that averages out to… 5510 for all students! either there are lots of bachelors, or very few masters & PhDs.
Jun 02, 2015 13:19 Report Abuse
Starting one is one thing...keeping it operating and successful is another.
Jun 02, 2015 10:54 Report Abuse
I come from an African country and the local public health doctors had a strike cos their starting salaries were around the equivalent of 10 000 rmb. That's first year doctors in run down public hospitals not private hospitals.
Jun 02, 2015 07:33 Report Abuse
I can't believe you got 4 thumbs up for confusing PHd with medical doctors. Your information is incomplete. Is the cost of living higher in your mysterious African country
Jun 02, 2015 19:33 Report Abuse
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