Recruiting in China

SHANGHAI university students who graduated in 2008 have an average monthly salary of 2,899 yuan (US$424) from their first job, ranking the highest among six major cities in the country and followed by Shenzhen and Beijing.

The average salary in Shenzhen, Guangdong Province is 2,816 yuan and 2,699 yuan in Beijing.

The average Shanghai salary is up 10 percent compared to last year, according to statistics cited by zhaopin.com, Shanghai Evening Post reported today.

The 2008 salary report compiled by zhaopin.com, a popular job hunter Website, indicated the growth rate of university graduate salaries in the city ranks second in China, just 1 percent behind Nanjing, capital city of Jiangsu Province.

Four other cities including Guangzhou and Beijing also experienced increases in average salaries for university graduates this year, according to the report.

The best paid graduates were usually those who majored in finance, high-tech, manufacturing, real estate and the consumer goods industry, the report said.

Those who majored in finance enjoyed the most rapid salary growth and have an average salary of 2,725 yuan. Graduates recruited by private enterprise also had a quick increase in salary but still start at 2,106 yuan.

Graduates who work for wholly foreign-owned enterprises have the highest starting salary of 2,957 yuan, but the lease growth rate, the report said.

The report said people working in marketing or product-related jobs experienced about a 10 percent increase this year but graduates in human resources and information and technology have taken a cut of 1 percent compared to last year.

The report also pointed out graduates with higher degrees can enjoy a higher growth in salaries this year. Masters degree graduates have had a 12 percent boost while college degree students only jumped 5 percent.