Fresh graduates from the class of 2020 in Hong Kong earned an average monthly starting salary of HK$16,077, a drop for the second consecutive year. Of these, only 76% are satisfied with their first job, a decrease of 11% compared to last year, according to JobsDB's latest survey.
The average salary of medical services (HK$20,050) remains at the top of the industries surveyed, followed by building/construction (HK$18,500) and financial services (HK$18,321).
While compensation and benefits continues to be the key factor for graduates to determine their level of satisfaction towards their first job, lack of career development and on-the-job training (15%) and detachment with one’s personal interests (11%) contributed to job dissatisfaction.
The government and public organisations (14%) are still the most preferred industry despite a slight drop of 2%, followed by banking (8%) and advertising/public relations/marketing services (6%). Education and training (6%) and medical/pharmaceutical (6%) have become more popular, with both experiencing significant growth compared to other industries.
Asian countries are popular destinations for work
Hong Kong remains an ideal workplace for most of the respondents (70%) despite the economic impact of recent events on the employment environment. Respondents desire to work overseas mostly because they “plan for migration” (26%), “like the culture of the country” (25%) and see “good economic development in the region” (15%). Countries in Asia (such as Japan, South Korea and some in South East Asia) are viewed favourably by graduates (8%), followed by USA/Canada (6%), United Kingdom (5%) and Australia/New Zealand (3%).