Job market picks up for Hong Kong graduates, with high demand for engineering, technology sub-degree holders
- The average annual salary of fresh graduates rose 6 per cent to HK$281,000 from HK$266,000 in 2020
- Brain drain from city’s tech sector led desperate employers to pay more for sub-degree graduates
The job market for Hong Kong’s fresh graduates improved last year from 2020, with most receiving better pay too, according to the latest data for the city’s eight publicly funded universities.
The graduate unemployment rate improved, but the proportion of jobless graduates from Chinese University (CUHK) was the highest for the second year running.
Those who enjoyed the biggest pay rises were graduates of sub-degree courses in engineering and technology, whose average annual salary rose by nearly a quarter to HK$229,000 (US$29,174) from HK$186,000 in 2020.
The jobs data, released by the University Grants Committee (UGC) which funds the eight universities, showed an improvement across the board following a rare dip in 2020 after the Covid-19 pandemic hit the city.
Together, they produced 22,333 graduates of degree programmes and 2,002 graduates of sub-degree programmes last year.
The graduate employment survey was conducted by the respective universities and covered a total of 19,269 graduates, with a response rate of 88.4 per cent.
Overall, the average annual salary of fresh graduates from the eight universities rose 6 per cent to HK$281,000 from HK$266,000 in 2020.