The AI industry offers the highest average salary for university graduates in China, followed by blockchain, according to a report by Liepin. Jobs related to information technology, internet and video gaming areas remain the most popular target for graduates, the report says. — SCMP
Jobs in the artificial intelligence (AI) sector have the highest average salaries for Chinese university graduates this year, according to a report released by Chinese recruitment platform Liepin.
Recruiters in China’s AI industry are offering an average salary of 18,592 yuan (RM12,021 or US$2,600) per month to college graduates in 2023, beating all other industries, according to the report released on Wednesday.
Blockchain came second followed by elderly care services, aviation and aerospace equipment and computer hardware, which offered an average salary of between 15,500 yuan (RM10,020) and 17,500 yuan per month, according to the report.
The report, which underlines the urgent need for AI talent, comes as Chinese companies are scrambling to hire people with generative AI skills amid a heated race to draw users to their own ChatGPT-style services. The average salary offered by the AI industry this year is up more than 40% over the levels seen in the past three years, the report says.
Earlier data compiled by Liepin showed that China’s demand for AI talent surged threefold from five years ago, with roles involving pre-training models, conversational bots, and AI-generated content in particular demand.
“The nationwide talent war has made graduates a key point of contention for cities, with compensation one of the most advantageous tools to attract people,” said the report, adding that Chinese cities like Xian and Hefei are doubling down on investment in the tech sector.
Jobs related to information technology, internet and video gaming areas remain the most popular target for graduates, although some of the enthusiasm has dropped off in the past two years, according to the report.
Jobs related to electronics, telecommunications and semiconductors, meanwhile, became the third most popular category, with the rate of CV submissions almost double the level in 2021.
Generally, recruiters in China offered an average salary of 10,342 yuan to university graduates in 2023, slightly lower than 10,575 yuan in 2022. The average expected salary of graduates was 8,033 yuan, 100 yuan lower than the amount seen in 2022, the report says.
Liepin attributes the decline in average salaries to macroeconomic uncertainties in recent years, noting that salaries are still beyond the levels seen in 2021.
In terms of cities, Beijing, home to many Chinese tech giants such as Baidu and Meituan, offers the highest average salary of 13,283 yuan, followed by finance hub Shanghai, and the tech hubs of Shenzhen and Hangzhou.
The report comes as the world’s second-largest economy struggles with faltering growth, rising youth unemployment and battered supply chains in the wake of the Covid-19 pandemic and related control measures.
This year, a record 11.6 million college and university graduates entered the labour market. Unemployment among people aged 16 to 24 increased to a record high of 21.3% in June, after which the government said it was suspending the release of youth-unemployment data. – South China Morning Post
