Chinese graduates who return home from studies abroad tend to enjoy better salaries in the short and long-term, a recent study has revealed.
In a poll involving some 100,000 Chinese grads, Beijing-based big-data recruitment firm BossZhipin found that Chinese students armed with a foreign degree this year are paid an average 17.2 percent more than those with local qualifications.
According to the South China Morning Post, the research also found that 26.3 percent of fresh grads from foreign universities are paid over CNY10,000 (US$1,500) and 2.3 percent had more than CNY20,000 (US$3,000) per month in their first jobs in China, which is double or triple the salaries of those with local degrees.
In the long run, the salaries of overseas graduates grew even more pronounced as their career progressed as 43 percent of the returnees could expect to be paid over CNY20,000 a month after eight years in work back home. By that time, their salaries would be 30 percent more than their domestically-trained peers.
Both Beijing and Shanghai were considered the two most attractive cities for returning graduates, accounting for 24.9 percent and 28.8 percent respectively. The two major cities were followed by Shenzen, Hangzhou and Guangzhou, which attracted 8.6 percent, 6.5 percent and 4.1 percent of the graduates.
Last year, 544,500 Chinese students left to study abroad, of which 498,200 were self-funded, official Ministry of Education data shows. This year, however, the rate of returnees shot up 80 percent, compared to some 30 percent a decade ago.
Internet technology-related sectors are also overtaking financial and professional areas like finance and law, owing to higher earning potential and more promising career prospects.
While still offering attractive pay packages and identified as being ideal to build future connections, consulting, legal, accounting and auditing jobs are being overtaken recruiters in tech.
The study also showed that tech was more of the desired area for returnees wanting to work in their home country although half of them graduated in business or finance areas.
Liked this? Then you’ll love these…
You can now study ‘Dragon Dance’ at this Chinese university
Chinese ‘graduate’ filmed begging for cash, promising to repay donors