China’s new graduates earn US$588 a month ... less than the cost of an iPhone
Those entering internet-related hi-tech industries fare the best, a survey found, but some say their actual earnings are much lower
China’s newest college graduates earn 4,000 yuan (US$588) a month on average – not enough to buy the cheapest iPhone 7 model, a recent survey showed.
Those who work in industries related to internet applications and development earn the most, taking home more than 5,600 yuan a month, which would be just enough to cover the cost of the iPhone, according to Beijing-based research firm MyCos’ annual report on graduate employment.
The survey polled nearly 290,0000 people who graduated from universities and colleges across the country last year. MyCos, which specialises in higher education management data analytics, has conducted the poll every year since 2009.
Fresh graduates’ earnings were more than 40 per cent higher than the average Chinese urban resident’s 2016 monthly disposable income of 2,801 yuan, according to the report. Disposable income refers to income left over after deducting taxes and social insurance. They were also 30 per cent higher than the 3,366 yuan of just four years ago.