Business / Economy

Big cities in China luring talent despite drawbacks

By Su Zhou (China Daily) Updated: 2015-12-16 07:22
Related story: Interest in SOE jobs declines for third straight year, by Su Zhou, China Daily

Interest in jobs with State-owned enterprises-once regarded as the best choice for college students because such jobs offered a decent income with no risk of being laid off-has fallen for the third year in a row, a new report shows.

Zhaopin, a Chinese human resources website, conducted a poll at 20 universities in China. Only 21.7 percent of interviewees said they would go to State-owned enterprises. Last year, 22.6 percent expressed such an interest, and in 2013, 29 percent did so.

However, such jobs remain the second choice of college students, with the top choice being to work for multinationals.

"The interest in working for State-owned enterprises has seen ups and downs in the past decade, and it has tight connections with macroeconomic policies," said Guo Sheng, CEO of Zhaopin. "In 2005, multinationals were the most popular choice. In 2009 and 2010, State-owned enterprises took the chair. And now another change has made multinationals and the private sector, especially Internet companies, the popular choices."

The report also noted a trend that further study is becoming more prominent, with about 16.5 percent of college students saying they would not seek jobs but would continue their education instead.

"Part of the reason is the downward pressure on the economic situation. It is harder and harder to get a satisfactory job in the job market. On the other hand, it would be easier to get a good job with a better educational background," the report said.

A record 7.49 million students graduated from China's universities and colleges in July. The ever-rising number of graduates is rapidly becoming a challenge: Last year, the figure was 7.27 million, and in 2013 it was 6.99 million.

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