Double-digit rise in some salaries
By Jia Feishang |
September 9, 2011, Friday
|
Print Edition
Print Edition
LOCAL employers in six key industries are expected to offer average salary increases of 10.8 percent this year, 0.3 percentage points higher than the previous year, according to a salary survey released yesterday.
The city's fast economic growth and soaring living costs lie behind the continuous big salary hikes, according to the survey, conducted by the China International Intellech Corp.
The average annual wage of employees from the six industries surveyed - electronic information, biomedicine, shipping and logistics, hotels, electric apparatus manufacturing and complete equipment manufacturing - reached 69,780 yuan (US$10,929) in 2010, 23,028 yuan higher than the average yearly salary of all Shanghai employees.
Those working in the transport equipment manufacturing industry enjoyed the highest average income of 91,728 yuan last year.
Among the 460 businesses interviewed, complete equipment manufacturers posted the highest salary increases of 12.4 percent from last year's wages. They were followed by hotels at 11.3 percent and shipping and logistics employers at 10 percent.
Geng Junhua, a manager with the CIIC, told Shanghai Daily yesterday that the six sectors are considered the city's pillar industries.
The survey also found the salary gap between Shanghai employees and those in neighboring cities such as Suzhou and Wuxi has been closed by as much as 20 percentage points over the last year.
The average cash income of people in Suzhou industrial parks was 83 percent of that of Shanghai employees, and the rate was 67 percent for the same workers in Wuxi.
Manufacturing companies have begun to transfer work to neighboring cities to lower their labor costs, which helps those areas' economic development, Geng said.
The city's fast economic growth and soaring living costs lie behind the continuous big salary hikes, according to the survey, conducted by the China International Intellech Corp.
The average annual wage of employees from the six industries surveyed - electronic information, biomedicine, shipping and logistics, hotels, electric apparatus manufacturing and complete equipment manufacturing - reached 69,780 yuan (US$10,929) in 2010, 23,028 yuan higher than the average yearly salary of all Shanghai employees.
Those working in the transport equipment manufacturing industry enjoyed the highest average income of 91,728 yuan last year.
Among the 460 businesses interviewed, complete equipment manufacturers posted the highest salary increases of 12.4 percent from last year's wages. They were followed by hotels at 11.3 percent and shipping and logistics employers at 10 percent.
Geng Junhua, a manager with the CIIC, told Shanghai Daily yesterday that the six sectors are considered the city's pillar industries.
The survey also found the salary gap between Shanghai employees and those in neighboring cities such as Suzhou and Wuxi has been closed by as much as 20 percentage points over the last year.
The average cash income of people in Suzhou industrial parks was 83 percent of that of Shanghai employees, and the rate was 67 percent for the same workers in Wuxi.
Manufacturing companies have begun to transfer work to neighboring cities to lower their labor costs, which helps those areas' economic development, Geng said.
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