While the competition for jobs in China continued to ease in the third quarter, the average monthly salary for white-collar workers went up to reach RMB7,599, representing a 3% increase over the previous quarter, according to Zhaopin Limited’s 2017 third-quarter report on China labor market supply and demand for white-collar workers.
The overall economy was picking up in the third quarter, and emerging first-tier cities were offering higher salaries and subsidies to attract more talent, which pushed up the average monthly salary for white-collar workers in China.
Beijing continued to be the city with the highest pay in the third quarter of 2017, with an average monthly salary of RMB9,900, up from RMB9,791 in the second quarter.
Competition for jobs among white-collar workers continued to ease in the third quarter of 2017, with an average of 30.4 applications per job vacancy, down from 35.8 applications in the second quarter.
Online games returned to the top as the most competitive sector for job seekers in the third quarter of 2017, with 50.0 applications per vacancy.
The most competitive occupation in the third quarter of 2017 was software/internet development/system integration with 101.2 applications per vacancy.
The best-paying sector in the third quarter of 2017 continued to be professional services/consulting (finance and accounting, legal and Human Resources, etc.) with an average monthly salary of RMB10,187, followed by RMB9,703 for funds/securities/futures/investment and RMB9,336 for academic/R&D.
The top three occupations with the highest monthly salaries in the third quarter of 2017 were senior management (RMB20,019), IT management/project coordination (RMB14,127) and securities/futures/investment management/service (RMB11,690).
Wholly foreign-owned enterprises offered the highest average monthly salary of RMB8,286 in the third quarter, followed by RMB8,163 for joint ventures and RMB8,080 for public companies.
In terms of employer size, companies with 1,000 to 9,999 employees were the most competitive for job seekers, with an index of 39.7, followed by 34.1 for companies over 10,000 employees. The competition for positions in small and micro-sized companies was relatively low due to low brand recognition.