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Phila Siu

The median monthly income of fresh university graduates has dropped by almost 20 per cent in the last 20 years, a study has found, prompting calls for a review of education policy.
Two groups monitoring public policy – New Forum and New Youth Forum – looked into data from the Census and Statistics Department on the salaries of university graduates.
They found the monthly salary for fresh graduates in 1993 was HK$13,158, but had dropped to HK$12,452 for those graduating in 1998.
It further dipped to HK$11,148 in 2003, and remained almost unchanged at HK$11,759 by 2008.
In 2013, it was only HK$10,860, representing a 17 per cent decrease from 1993.
“One reason is that the number of university places has increased a lot over the years,” said Chan Wai-keung, a council member of New Forum.
According to a report by the two groups, only 10.6 per cent of young people in 1993 obtained a university degree. That figure has since risen, to 47 per cent in 2013.
Chan, a lecturer in communication and social sciences at Hong Kong Community College, said there was a mismatch between the types of degrees available for study and the jobs up for grabs.
“Some people who graduate with a bachelor’s in business administration may end up working as a general office worker instead of taking up a managerial role that they were taught for at university,” he said.
He said an abundant supply of graduates in specific sectors meant employers did not feel it necessary to offer competitive salaries.
He said the government should focus on providing more opportunities in vocational education as Hong Kong was in huge need of talent in many such professions, including the construction industry.
The report said the number of jobs in the city requiring skilled workers had risen by only 66,500 between 1993 and 2013. But the number of university graduates that could fill these positions increased by 699,600 over that period.
Separately, the report said Hong Kong’s house prices skyrocketed 160.6 per cent over the two decades, while rents increased 58.6 per cent.
Cliff Tang Wing-chun, convenor of New Youth Forum, said it was tough for graduates to buy a flat because house prices had gone through the roof while salaries were worse than they were 20 years ago.
He said the government should increase the housing supply to stabilise prices.
The government earlier predicted the city would need almost 3.8 million workers by 2022 against a labour pool of 3.67 million.


Salaries of Hong Kong’s university graduates dropped 20 per cent in last 20 years, study finds

Students from the Hong Kong University of Science and Technology's business school celebrate their graduation.  Salaries for fresh graduates have fallen, research has found. Photo: SCMP Pictures

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Hong Kong

Hong Kong Economy

Median monthly income for fresh graduates in 1993 was HK$13,158 but had fallen to HK$10,860 by 2013
