Most 2008 HKU Graduates Secured Jobs before Financial Turmoil
16 Apr 2009
1.1 The Careers and Placement Section, Centre of Development and Resources for Students (CEDARS) of the University of Hong Kong today (April 16, 2009) released the latest findings on the employment situation of its 2008 graduates. The key figures of undergraduates are:
- More than 90% students secured job offers before November, 2008, employment and remuneration not affected by financial turmoil.
- Full employment for the third consecutive year (99.4%).
- Average gross income at $18,755 per month, increased by 9.6%.
- A drop of 9 percentage points for those received two or more job offers.
- 78.2% of graduates satisfied or very satisfied with their jobs.
- 82% of graduates found jobs that are highly or partially related to their field of study.
- 55.4% of graduates planned to stay with present employer in the next three years, increased by 6.6 percentage points.
- 18% of graduates chose to pursue further studies, similar to 18.4% of last year.
2. Survey methodology
2.1 The Survey was conducted by questionnaire to all 3,934 full-time 2008 graduates of the University. A total of 3,384 graduates replied, response rate 86% (response rate of undergraduates 91.7%).
3. Most jobs secured before financial turmoil, remuneration package better than last year, yet choices of jobs seem declining
3.1 One third of graduates received the first offer before their final examination in May, similar to previous year.
3.2 Full employment rate at 99.4%, slightly less than 99.8% in the previous year. (Appendix: Table 1)
3.3 Nearly 90% of graduates secured their offers in September with an average increase in monthly gross income. The employment market for fresh graduates remained buoyant in the first three quarters in 2008.
3.4 The proportion of graduates receiving two or more job offers decreased. (Appendix: Table 2)
4. High Job satisfaction
4.1 Majority of the graduates experienced good job satisfaction.
4.2 78.2% of the graduates were either satisfied or very satisfied with their jobs.
4.3 74.6% of the graduates indicated their jobs matched or highly matched their interests. 81.9 % found their jobs matched or highly matched their abilities.
4.4 82% graduates found their jobs related or highly related to their field of study.
4.5 55.4% graduates planned to stay with present employer for the next three years, an increase of 6.6 percentage points.
5. 9.6% Increase in Average Gross Salary at $18,755 per month.
5.1 Average gross monthly income is $18,755, up by 9.6% from $17,112 in the previous year. (Appendix: Table 3)
5.2 As for the distribution of income group, jobs with monthly income $8,000 to $10,000 and $10,000 to $12,000 slightly decrease (-1.9% and -7.3% respectively), while more graduates landed on higher paid jobs at $20,000 to $22,000 and $22,000 to $24,000 (+1.6% and +2% respectively).
6. 87.5% of Mainland Undergraduates chose to stay and work in Hong Kong as ‘Immigration Arrangements for Non-local Graduates (IANG)' scheme was first introduced
6.1 60.3% Mainland China undergraduates secured their jobs, while 37.2% chose to further their studies. (Appendix: Table 4)
6.2 Among those who had secured their jobs, 87.5% of Mainland China undergraduates chose to work in Hong Kong, 6.9% in Mainland China, while the rest are working in Australia and other Asian countries. (Appendix: Table 5)
6.4 Most of them worked in the commerce and industry sector.
6.5 Average gross monthly income of Non-local graduates is $18,026, similar to local graduates.
7. Looking Ahead
7.1 Some undergraduates have received job offers in their final semester this year, while the total job offers see a decrease of 13.4% in the period of September, 2008 to February, 2009. Yet the drop is slightly mild compared to a 30 - 40% decrease in job vacancies available in market.
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Table 1: Employment Situation of 2008 undergraduates
Table 2: Number of Job Offers Received by 2008 undergraduates
Table 3: Monthly Income of 2008 undergraduates
Table 4: Employment Situation of 2008 Non-Local undergraduates
Table 5: Employment Destination of 2008 Non-Local undergraduates