Younger staff receive higher pay rise
Print Edition
CHINESE employers are offering a bigger pay rise for fresh college graduates than for experienced workers this year as salaries remain the biggest concern for young workers, separate industry reports revealed yesterday.
Recruitment portal 51job.com found employers are offering 10 percent higher salary for fresh graduates this year than last year, according to its survey of 263 companies with more than 2,000 employees each.
The salary increase for newcomers to the job market has outpaced the overall 6-8 percent expected pay rise for experienced workers, the website said.
“The starting salary for fresh graduates is on the rise in recent years as the young job seekers are not willing to yield to unsatisfactory salaries,” said Jenifer Feng, chief researcher of 51job.com.
The financial sector was the most generous for graduates as only 9.1 percent of the companies offered starting salaries below 5,000 yuan (US$806), 51job.com said.
Recruitment agency Hudson found 75 percent of employees aged between 20 and 35 years old pointed to higher salaries as their major factor when considering a job, according to its survey covering 1,262 employers and employees on China’s mainland.
“With salary and benefits in the top five of job seekers’ wish list, employers would be wise to take heed by ensuring that their salary and benefits packages are in line with competitor offerings in the market,” said Lily Bi, Hudson Shanghai joint general manager.
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