In the findings from Universum’s latest annual global talent survey, Hong Kong’s university graduates are expecting nearly a 20% higher annual salary for their first full-time job compared to 2021. The research sets out to track the career aspirations and preferences of the future talent pool as they look to enter the job market for the first time.
According to the 2022 survey, students are looking for a 19% increase on the basic expected annual salary in 2021. This year, graduates’ expected annual salary rose to HK$ 303k (HK$ 25.3k per month) compared to HK$254.4k (HK$ 21.2k per month) in 2021. Engineering and natural science students expected the largest increase (24%) whilst business/commerce students’ expectations increase by 20%.
This year, business/commerce students ranked J.P. Morgan in the top position as an ideal employer followed by HSBC, whereas the HKSAR Government ranks as the number one employer for engineering/natural science students. Tech giants such as Google and Apple also rank amongst the top five most attractive companies for students across both groups.
Mike Parsons, Managing Director APAC, Universum said, “The survey clearly highlights current concerns amongst Hong Kong’s young talent in relation to the rising cost of living as well as other economic and inflationary challenges. Their expected salary to enter the workforce has jumped significantly this year which is unsurprising given the backdrop of the pandemic and economic impacts.”
“The data also shows Hong Kong’s emerging talent pool is also looking more confidently at the job market through the lens of preferred attributes and while they continue to rank high future earnings, professional training and development as priorities, they are increasingly interested in working from home with reduced concerns on the impact this may have on their social or work life development.”
Paul Arkwright
Publisher
