Overseas Graduates Earn Less Than Expected

Returning graduates with overseas degrees are finding their salaries significantly lower than anticipated. A survey by New Oriental Education & Technology Group reveals that many are earning about a third less than expected, with an average first salary of 7,928 yuan (US$1,097) per month, falling short by 2,700 yuan.

A record high 11.79 million university students are expected to enter China’s job market this year. Photo: Getty Images

High Youth Unemployment Rates Persist

The unemployment rate for Chinese youth aged 16-24 remains high at 15.3% as of April. This stagnant figure highlights the ongoing challenges in the job market, even as China sees a record 11.79 million new university graduates entering the workforce this year.

University students attend a job fair in Wuhan, in central China’s Hubei province on 6 March 2024. (AFP)

Expectations vs. Reality for Graduates

Graduates with master’s degrees also face disappointment, earning an average monthly salary of 9,526 yuan, still 2,200 yuan below their expectations. High self-confidence among students contrasts with the tough reality of securing high-paying jobs immediately after graduation.

Economic and Geopolitical Influences

The economic downturn and geopolitical tensions have influenced Chinese families’ decisions on overseas education. There is a noticeable decline in the number of parents willing to send their children abroad, with fewer middle-class families considering it due to financial constraints and changing economic conditions.

Top Destinations for Studying Abroad

The UK remains the most popular destination for Chinese students due to shorter course durations and a more stable political environment. Middle-class families are increasingly choosing more affordable study destinations in Asia and Europe, allocating less than 300,000 yuan for education costs.