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Foreign study fails to boost salaries

(China Daily)

10:13, November 04, 2011

BEIJING - Young Chinese people returning from studying overseas and lacking in work experience are likely to earn a starting salary similar to those of graduates from domestic universities, because of white-hot competition in the job market, a recent survey showed.

That's according to a report released on Tuesday by the Education International Cooperation Group (EICG), a consultative agency for study overseas.

The report shows that graduates returning from foreign study earn an average starting salary of 3,000 yuan ($472) a month. And more than 70 percent of them return to China following graduation.

As many as 7,000 returnees responded to the survey. Only 18 percent of them are earning more than 10,000 yuan a month, a 50 percent decline compared with 2010, according to the report.

It said that the increasing number of returnees in recent years has resulted in competition for jobs becoming stiffer.

Statistics from the Ministry of Human Resources and Social Security show that 632,200 returnees were working in China by the end of 2010. That number is set to increase by more than 500,000 during the next five years.

Wen Dongmao, director of the Graduate School of Education at Peking University, said the employment prospects of returnees are not much better than those of domestic graduates, so it is not surprising that their starting salaries are similar.

Returnees who lack work experience suffer the most. About half of them do not have work experience overseas or in China, and most of them are unable to earn more than 5,000 yuan a month, the report said.

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