China's 5G Sector Offers Better Wages Than Finance Amid Skilled Staff Shortage
Guo Jinhui
DATE:  Oct 22 2019
/ SOURCE:  yicai
China's 5G Sector Offers Better Wages Than Finance Amid Skilled Staff Shortage China's 5G Sector Offers Better Wages Than Finance Amid Skilled Staff Shortage

(Yicai Global) Oct. 21 -- Job adverts in China's fifth-generation wireless sector offered larger salaries than traditional high-earning careers such as finance in the first five months of this year, according to online recruitment platform Zhaopin. This is largely due to a shortage of skilled professionals.

The average monthly income for 5G-related positions was CNY15,644 (USD2,211) between January and May, 44 percent higher than the same period last year, according to a development report released by Beijing-based Zhaopin during the sixth World Internet Conference in Wuzhen yesterday.

The increase came against a backdrop of generally slower salary growth. Public sector employees in China's cities earned an average CNY82,461 (USD11,659) each last year, while workers in private companies took home CNY49,575, according to official data released in May.

The entire 5G sector is short of skilled professionals and is actively searching, Zhaopin Executive Vice President Li Qiang told Yicai Global. The supply and demand gap is likely to widen in the fourth quarter as 5G commercialization gathers pace, he added.

The situation is largely caused by difficulties in training talent with the required skills set, Li said. Most companies are looking for computer science and information technology graduates from well-known universities who already have work experience in reputable firms.

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Keywords:   5G,Zhaopin,Salaries