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May 25, 2017

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High-level talent set for 25% pay raise

HIGH-LEVEL talent can expect a salary rise of up to 25 percent, although average salary may increase 8 percent and junior positions face downward pressure, two separate reports said yesterday.

Companies in China are willing to offer an 8 percent rise in average salaries this year as they are actively seeking medium to senior-level talent, recruitment firm ZW HR Consulting said in a report yesterday.

Candidates possessing English and Mandarin language skills are particularly in high demand and can expect a salary hike of 15-25 percent while those with specific in-demand skill sets and experience will get a 25 percent jump in salary, the report said.

“There is a positive outlook on hiring by Chinese companies in 2017,” said Frank Yu, chairman of ZW HR. “We expect many companies will offer wage increases to retain and attract employees as the employee turnover rate remains high.”

Hiring for accounting, finance and banking professionals will remain stable while IT, sales and marketing talent can expect a 10-12 percent hike in salaries, the report said.

However, the average salary for fresh graduates fell 751 yuan (US$109) from a year ago to 4,014 yuan, showed recruitment portal’s survey of 93,420 respondents who will graduate this year.


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