SHANGHAI - With the growth of the national economy and the continuous development of Chinese enterprises, more middle- and high-level professionals in China now prefer to work for domestic companies rather than foreign-owned enterprises, human resources experts said.
"Multinational companies have long been in a favorable position in the recruiting market due to their liberal reward and advanced management culture," said Chen Jiewei, senior consulting manager with China International Intellectech Corporation (CIIC), a Shanghai-based HR services company.
"But over the past five years, Chinese companies have been doing excellently and many of them have been listed abroad. They have demonstrated their competitive strength," Chen told China Daily, "Now they can offer salaries and bonus plans that are competitive with foreign companies, which makes them increasingly attractive for high-level management professionals."
A report from CIIC said that the annual salary for management positions in Chinese enterprises is basically equal to that in Japanese enterprises, about 200,000 yuan ($30,880) a year (before tax), while for European and US enterprises it is about 250,000 yuan a year. For director positions, European and US enterprises generally provide an annual salary of more than 400,000 yuan, while Chinese enterprises offer more than 300,000 yuan and Japanese enterprises about 300,000 yuan .
For senior management positions, the annual salary in a European or US enterprise is about 800,000 yuan, while large Chinese enterprises offer about 600,000 yuan and Japanese enterprises about 500,000 yuan.
But Chen said that it is not only the salaries that are driving high-level talent toward Chinese companies. It is also a better personal career path.
"Multinational companies have developed for a long time in China, and practiced a localization strategy, but even so, a lot of senior management positions are still dominated by foreigners. High-level Chinese staff often find it's hard to break through the bottleneck and advance," Chen explained. "They have no scope for their particular talents."
"Some large Chinese companies, on the other hand, can provide sufficient room for people's career development," Chen added.
"Chinese enterprises have developed very fast and improved effectively over the past years in terms of the management level, working environment, compensation packages, as well as the promotion system. They have competitive advantages over their foreign counterparts in recruiting staff," said a 33- year-old man, surnamed Wang, who declined to give his full name.
Wang currently works as a department manager in a US technology company but he hopes he can move to a Chinese company, especially a State-owned company.
"State-owned enterprises have improved their market performance and have comprehensive competitiveness. That means there may be more opportunities for self-development," Wang said.
State-owned enterprises overtook foreign and private enterprises as the top destination for job-seeking graduates in 2010, according to a survey of 200,000 students conducted by ChinaHR.com. Eight of the top 10 companies named in the survey are State-owned.
Chinese companies are more popular among students born between 1980 and 1990, majoring in science and engineering, according to a survey by Aon Hewitt, a global human capital consulting company.
Aon Hewitt polled graduates over the past two years and found that China Mobile, Alibaba and Haier have overtaken Google and P&G to become the most popular employers among graduates.
BEIJING, June 9 (Xinhua) -- More Chinese college graduates are finding jobs, with the employment rate back to the pre-crisis level and a significant rise in salaries, a latest survey shows.
The employment rate of college graduates has risen over the last two years to 89.6 percent in 2010, about 2 percentage points higher than that in 2007, according to a survey by education research company MyCOS Institute released Thursday.
Some 227,000 college graduates were interviewed for the survey six months after they graduated last year.
In breakdown, 91.2 percent of the university graduates and 88.1 percent of the graduates from junior colleges and higher vocational schools found jobs within six months of graduation, according to the survey.
Meanwhile, college graduates' average monthly starting salary was 2,479 yuan (381.4 U.S.dollars) in 2010, 349 yuan higher than the starting salary of those who graduated in 2009, MyCOS said, attributing the rise to rising demand for skilled workers.
The survey also covered some 109,500 employees who graduated from college in 2007. Their average monthly income had reached 4,388 yuan, more than double what they earned three years ago when first interviewed by MyCOS.
China's eastern and costal regions were still the most attractive places to work for college graduates, with Beijing, Shanghai and Guangzhou as the most appealing cities, according to the survey.
But among those who graduated in 2007, more than 20 percent of them had left the three cities within three years of graduation, it said.
About 60 percent of the interviewees who graduated last year thought their jobs did not match their expectations.
Some 36 percent of these graduates regarded their positions as "inconsistent" with their career plan, while 22 percent of them said the work failed to match their interests.
Jobs not matching career plans was a salient reason why 34 percent of these graduates left their positions within six months of graduation, said MyCOS.
More graduates are starting their own businesses after graduation, with 1.5 percent of graduates becoming self-employed in 2010. Most of the graduates' start-up funding came from parents, relatives, friends and personal savings, according to the survey.
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