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Sunday, Oct 02, 2022

Uni graduates' annual salary expectations rise 20pc from last year: survey

Uni graduates' annual salary expectations rise 20pc from last year: survey

University graduates are expecting an average annual salary of HK$303,000 this year, that is, a monthly salary of more than HK$25,000, a survey says.
Consultancy firm Universum surveyed nearly 4,500 students from nine universities in Hong Kong. The results suggested that their salary expectations have increased significantly, with the expected average annual salary rising by 20 percent from HK$254,000 in 2021 to HK$303,000 this year.

Mike Parson, Executive Director of Asia Pacific at Universum, believed that the hike in expected salaries was related to changes under the Covid-19 pandemic and other economic factors.

It also reflected the concerns of young people in Hong Kong about the rising cost of living and other economic challenges, including inflation.

On the other hand, the survey found that graduates in Hong Kong are increasingly interested in working from home, with 75 percent of respondents saying they welcome working remotely in 2022, an increase of 8 percent over last year.

At the same time, they were found to be less nervous about the impact that working from home might have on their social or professional lives.

Universum said employees are reassessing their life and career goals, while employers need to clearly understand their target talent's priorities and identify areas where they can outperform their competitors to develop effective retention strategies.

As for the most attractive employers, J.P. Morgan and HSBC topped the list among business students this year, while the Hong Kong SAR government continues to be favored by engineering and natural science students. Technology giants Google and Apple both made the top five in the list of ideal employers in both categories.

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