Undergraduates expect to earn about HK$18,000 a month – a drop of 4.8 per cent – survey shows
PEACE.CHIU@SCMP.COM
UPDATED : Tuesday, 24 May, 2016, 10:27pm
Having a friendly working environment topped a list of 40 employer attributes among Hong Kong undergraduates. Photo: Ricky Chung
Undergraduates in the city are expecting a lower salary after graduation than a year ago, a study has found, with experts attributing the “gloomy” view to an economic slowdown in Hong Kong and around the world.
The survey findings were released shortly after Hong Kong’s economy contracted 0.4 per cent in the first three months of the year compared with the quarter before – the steepest drop since 2011. The city’s latest unemployment rate remained at 3.4 per cent – the highest level in two years.
The study by Universum, an employer-branding company based in Sweden, polled over 5,500 students from six universities in Hong Kong from September last year to January.
The students expected an annual salary of HK$214,934, about HK$18,000 a month. That was a drop of 4.8 per cent compared with the findings of the previous survey, and the biggest since Universum began conducting such studies in Hong Kong in 2009.
Stephen Ching Tang-foon, associate professor at the University of Hong Kong’s school of economics and finance, said the pessimistic outlook could stem from the economic slowdown both in Hong Kong and worldwide.
Students are also a choosing a strong culture and attractive working environment over reputation and image when it comes to their preference for employers.
Having a friendly working environment topped a list of 40 employer attributes, while three other factors related to people and culture – leaders who support their development, an employer that enables them to integrate personal interests into their schedule, and a creative and dynamic working environment – also made the top 10.
Along the same thread, 64 per cent of those surveyed selected work-life balance as one of their top three career goals.
Among the countries polled, Hong Kong was only just behind Singapore (66 per cent) in coveting this goal most, while only 49 per cent of those surveyed in mainland China and 42 per cent of those in Thailand picked this factor as one of their top three career goals.
On the other hand, students were less enticed by companies’ reputation and image. None of the employer attributes relating to their reputation and image made it to the top 10. In comparison, one such factor – inspiring management – was included in the list last year.
These jobseekers tend to care more about themselves, hence seeking jobs that have a good work environment and colleagues
KENNETH LAW, CHINESE UNIVERSITY
Kenneth Law Shing-keung, a professor at Chinese University’s department of management, said the findings could be related to changing values of millennials.
“It is possible that in the past, jobseekers tended to have more children, so they were focused on finding jobs with good future prospects, which could be linked to the image and reputation of a company, to support their family,” he said.
“Because of the changing family structure, with millennials having fewer children, and this generation being more self-oriented, these jobseekers tend to care more about themselves, hence seeking jobs that have a good work environment and colleagues.”
http://m.scmp.com/news/hong-kong/economy/article/1953386/salary-hopes-slide-hong-kong-students-lower-expectations-amid
