AI and Blockchain Jobs Offer Top Salaries to Chinese Graduates, Amid Youth Unemployment Surge
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Chinese university graduates are turning to AI jobs with an average monthly salary of US$2,600, making it the most sought-after industry in 2023.
The job market reflects the dynamic interplay between high salaries, the demand for AI skills, and the urgent need for talent.
Chinese university graduates are experiencing a lucrative job market in 2023, with the AI sector leading in average salaries, according to a recent report by Liepin, a Chinese recruitment platform.
The report underlines the intense demand for AI talent in China, particularly for generative AI skills, driven by the race to develop services akin to ChatGPT. The average AI industry salary has surged by more than 40 percent over the past three years, marking an urgent need for talent.
College graduates in China can expect an average monthly salary of 18,592 yuan ($2,600) when entering the AI industry, outstripping all other sectors. The most promising roles, which involve pre-training models, conversational bots, and AI-generated content, have grown threefold in the last five years.
After AI, the second leading sector is blockchain, followed by elderly care services, aviation, aerospace equipment, and computer hardware. These roles offer competitive salaries ranging between 15,500 and 17,500 yuan per month.
AI and Blockchain are Reshaping Work
AI and blockchain are two of the most disruptive technologies that are reshaping the world of work and creating new opportunities for professionals. According to a report by the World Economic Forum, AI will create 97 million new jobs by 2025. Blockchain, on the other hand, will generate entirely new business models, such as cryptocurrencies and smart contracts, as well as enhance existing ones with security and transparency.
However, these technologies also pose some challenges and risks for workers. AI will eliminate some occupations, especially those that involve routine or repetitive tasks, and require workers to acquire new skills and competencies to adapt to the changing demands of the market. Moreover, artificial intelligence will also create ethical and social dilemmas, such as data privacy, bias, accountability, and governance.
AI and blockchain are not only changing the future of jobs. They also offer immense possibilities for innovation, growth, and prosperity, but also entail significant challenges and uncertainties. Workers who can leverage these technologies wisely and effectively will have a competitive edge in the global market and contribute to a better world.
Rising Salaries Amid Economic Challenges for China’s Graduates
In the midst of a nationwide talent war, compensation is a key tool to attract graduates, making them a focal point for various cities. While the tech sector has attracted substantial investments in cities like Xian and Hefei, information technology, internet and video gaming continue to be the most sought-after fields for graduates. Electronics, telecommunications and semiconductors have gained popularity and received almost double the number of CV submissions compared to 2021.
Although the average salary for university graduates in China in 2023 is slightly lower than the previous year, Liepin attributes this decline to macroeconomic uncertainties, emphasizing that salaries still surpass those of 2021.
In terms of cities, Beijing offers the highest average salary of 13,283 yuan, followed by Shanghai, Shenzhen, and Hangzhou, home to tech giants like Baidu and Meituan.
According to SCMP, China is currently grappling with economic challenges, rising youth unemployment, and supply chain disruptions due to the Covid-19 pandemic. A record 11.6 million college and university graduates entered the labor market this year, and unemployment among people aged 16 to 24 reached a record high of 21.3 percent in June, prompting the government to suspend the release of youth unemployment data.
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