Chinese university graduates entering the job market in 2023 are finding the highest average salaries in the artificial intelligence (AI) sector, according to a report by Chinese recruitment platform Liepin. Recruiters in China's AI industry are offering an average monthly salary of 18,592 yuan (approximately $2,600) to college graduates this year, surpassing all other industries. Blockchain ranks second in terms of salaries, followed by elderly care services, aviation and aerospace equipment, and computer hardware, which offer an average monthly salary ranging from 15,500 to 17,500 yuan.
This report highlights the growing demand for AI talent in China, as companies rush to hire individuals with generative AI skills in the competitive landscape of AI-driven services. The average salary offered by the AI industry in 2023 has seen a substantial increase, up more than 40% over the past three years, as noted in the report.
Previous data from Liepin revealed a threefold increase in China's demand for AI talent over the last five years, with specific roles related to pre-training models, conversational bots, and AI-generated content in high demand.
The intense competition for talent in China has made recent graduates a focal point for cities seeking to bolster their tech sectors, with competitive compensation packages being a pivotal tool to attract top talent. Cities like Xian and Hefei are investing heavily in the technology sector to draw in skilled professionals.
Although jobs related to information technology, the internet, and video gaming remain a popular choice for graduates, there has been a slight decline in enthusiasm in these fields over the past two years. In contrast, positions in electronics, telecommunications, and semiconductors have become the third most sought-after category, with the number of CV submissions nearly doubling since 2021.
On average, Chinese recruiters offered university graduates a monthly salary of 10,342 yuan in 2023, slightly lower than the 10,575 yuan offered in 2022. The expected average salary for graduates was 8,033 yuan, 100 yuan less than in the previous year. This decline in salaries is attributed to macroeconomic uncertainties in recent years, although they still exceed the levels seen in 2021.
In terms of cities, Beijing, home to tech giants such as Baidu and Meituan, offers the highest average salary at 13,283 yuan, followed by Shanghai, Shenzhen, and Hangzhou.
This report comes at a time when China is grappling with economic challenges, including slowing growth, rising youth unemployment, and disruptions in supply chains caused by the COVID-19 pandemic and related measures. This year, a record 11.6 million college and university graduates have entered the job market, with youth unemployment reaching a record high of 21.3% in June. The Chinese government has suspended the release of youth unemployment data following this surge.
By fLEXI tEAM