Hong Kong graduates earn just HK$1,800 more than their predecessors 20 years ago

Young university graduates in Hong Kong are earning just HK$1,800 more than their predecessors did 20 years ago, lagging way behind inflation and increases in tuition fees and property prices over the same period, according to the latest figures.

Data from the Census and Statistics Department shows a 20 per cent rise in median income – compared with a 45 per cent increase in the Composite Consumer Price Index, 75 per cent in tuition fees and a near-tripling of private property prices.

Employers could be less willing to make attractive job offers possibly because of a mismatch between market demand for university graduates and dramatic growth in their numbers, Simon Lee Siu-po, assistant dean of undergraduate studies at Chinese University’s Business School, said.

Read more: Hong Kong's university graduates must seek opportunities beyond city's shores

“I believe the growing number of undergraduates in Hong Kong over the decades is the main reason,” Lee said.

He also criticised local students for their poor working attitude and language skills.

“Youngsters nowadays, compared to the last generation, are less skilful and are reluctant to learn,” he said. “Many employers are disappointed by the young generation.”

Employers eyeing global expansion would rather hire mainland Chinese graduates who had a better command of Putonghua and English, Lee said. More importantly, he said, they tended to have broadened their horizons.

Lee predicted the slow income increment would continue in the coming years and urged youngsters to better equip themselves.