Pierre Saint-Louis, a senior legal adviser at the Dacheng Law Firm in
Shanghai, agreed with Wang.
Another big factor in the competitive market, he said, is the increasing
number of young Chinese students who have studied overseas and return to develop
their careers.
But Saint-Louis, a Canadian, pointed out that Chinese do have one negative
point in the foreign business community: They change jobs too frequently.
He said he has been living in the country for nearly seven years, and the
longest time he has had an assistant is a year and a half.
"It is unbelievable that they jump from jobs like that to gain more work
experience and more money as a result," he said.
"However, it makes foreign companies suspicious of their loyalty; they might
not keep them. So, they prefer to employ foreign staff in certain positions as
they, at least, work longer for the companies. From that point of view, there
are still some opportunities for expatriates."
There are more than 30,000 foreign enterprises in Shanghai, and more and more
of the world's top 500 companies have placed regional offices in the city.
According to Xinhuanet, the average turnover rate of employees at foreign
enterprises was 16.5 per cent from 2004 to 2005, compared with the 5-15 per cent
figure that CEOs considered reasonable.
In particular, the turnover averaged 30 per cent in real estate and over 20
per cent in the fields of consumer goods, energy, tourism and hotels.
Looking for life experience
According to the labour and social security bureau, nearly 90 per cent of
foreign employees hold a bachelor's degree or higher.
The salaries for foreign staff with less than two years of work experience
ranges from 5,000 to 10,000 yuan (US$625-1,250) per month. But the salary to
teach English is from 5,000 to 8,000 yuan (US$625-1,000), which is not much
higher than locals are paid.
"Peter" is a German in his 20s who has a job in Shanghai that pays about
10,000 yuan a month. He didn't want to give his real name because he doesn't
want to risk the job he has while looking for a better paying one.
Peter, who also went to the Foreign Cookie Club function, said it is
impossible to find a job in Shanghai with an annual income of 450,000 yuan
(US$56,000), which he used to earn back home.
Rideout says he is realistic about his pay. He majored in biology but is
looking for a business development sales job, and his salary expectation is
around 10,000 yuan.
For some foreigners, though, the point is not how much money they can earn.
"I am more interested in getting experience than money," Peter said.
"What I really want to do here is learn Mandarin and know about Chinese
culture. I want to establish my own consulting company when I return to Germany
in two or three years, and of course, the business will be related to China."
Eskil Fredriksson arrived in Shanghai from Sweden in August 2005.
After studying Chinese at Fudan University for a year, he looked for a job in
finance and business. Fortunately for him he found a good one in just more than
a week.
He wouldn't say where because he also is looking for another job and also
attended the Fortune Cookie Club function. But he did say: "I like working in a
multi-cultural environment."
Although Western countries are known for high-paying jobs with good benefits,
Fredriksson said he doubted he could have found a better job in Sweden.
"China is very dynamic, and that is also reflected in my job," he said.
"Of course, the welfare system in Sweden is very good, but for me
opportunities are more important, and Sweden cannot compete with China in the
opportunities it offers."
But Fredriksson said the abundant opportunities were not the main reason he
chose to come to China.
"I came to China because I really like the country's culture and language,"
he said.
"The way China is heading in its development is really incredible, and I
think the quality of life for me here is much higher than in Sweden, especially
when I look at things like the optimism in the people, the safety, the
friendliness of the Chinese and the culture.
"I think I have settled here. As it appears now, China might well become my
permanent home."
If he lives in Shanghai, the more than 50,000 expats who live there
permanently already will just have to make room for one more.
