Pay rises for new graduates

College graduates seek jobs at a job fair in Qingdao, Shandong province on Sept 9, 2017. [Photo/VCG]  

The average pay for college graduates has gone up by 7.4 percent year-on-year, according to a survey published Wednesday by China International Intellectech Corporation, a State-owned human resources company.

The survey shows the average pay for college graduates this year is 4,854 yuan ($741) for graduates, 6,791 yuan for postgraduates and 9,982 yuan for PhD graduates.

The starting salary in first-tier cities is 5,218 yuan for graduates, 7,612 yuan for postgraduates, and 10,077 yuan for PhD graduates.

It indicates 47 percent of the employers have hired more people this year, while 21 percent cut down on their recruitment numbers.

Sixty two percent of the polled enterprises said hiring desirable employees became more difficult this year, due to excessively high expectations of graduates and low name recognition of employers.

The survey polled more than 2,800 enterprises in sectors including finance, internet and manufacturing.

A record 7.95 million graduates entered the workforce this year.