People’s Daily carried an article on a report that the Market and Media Research Center of Beijing University recently published on the average income of college graduates in China. One area of the report focused on the job market for the college graduates who were born in the 1990’s. The research results showed that, even though GDP grew four times in the past ten years and the minimum wage grew from 380 (US$62) a month to 1400 (UD$229) a month, the average salary for college graduates was 2,443 (US$399) a month in 2014 compared to 1,550.7 (US$253) a month in 2003 [an increase of just over 1.5 times for that period]. The report showed that the starting salary varies in different geographic locations, with those in Shanghai, Beijing, and Shenzhen earning 3,241 (US$529), 3,109 (US$507), and 2,905 (US$474) respectively versus those in the Midwestern regions who make as little as 2,000. Moreover, even for those who graduate from elite colleges or with a Masters’ degree, the income gap is getting smaller. In addition, the major that has the highest income has shifted from computer science, business management, and industrial technology in 2003 to hotel management, telecommunications, and e-business in 2013.
Source: People’s Daily, September 28, 2014