70% of Chinese overseas returnees are not satisfied with their salary

Almaty. August 14. Silkroadnews – 70% of Chinese overseas returnees are not satisfied with their salaries, Global Times reports.
“Nearly 70 percent of Chinese overseas returnees are not satisfied with their current salaries, said a report on Chinese returnees’ employment and entrepreneurship in 2017. The report was jointly released by the Beijing-based Center for China and Globalization and zhaopin.com at a press conference”, the report said.
The report is based on interviews with 1821 returnees and focuses on three key aspects – basic conditions, employment and entrepreneurship.
“A total of 432,500 students came back to China after graduating from overseas universities in 2016, the report said, adding that by the end 2016, China has a total of 2.65 million returnees. The report revealed that more than 14 percent of these returnees are from Beijing, ranking top in terms of the returnees’ birthplace, followed by Shanghai with almost six percent”, the publication reads.
It noted, the returnees are known for their global vision, knowledge of foreign languages and cross-cultural communication skills, at the same time they are not familiar with the trends and requirements of the domestic employment market.
According to the report, more than 90% of the returnees could find jobs within six months after they come back to China, but 68.9% said their current monthly salary is lower than expected. After-tax salaries of more than 40% of respondents do not exceed 6,000 yuan ($900) per month.
The majority of returnee entrepreneurs are engaged in the IT industry, and Beijing ranks first among the cities where these specialists prefer to develop their business.
It is reported that the number of graduates of Chinese universities in 2017 reached 7.95 million people, which is a 300 thousand increase compared to the last year.
“The report noted that China has attracted more students back to the country with its rapid economic growth and the rise in the number of returnees will bring more pressure on employment, which should be noted by the government”, the publication says.