The 2024 employment competitiveness survey report for overseas returnees has recently been unveiled, providing valuable insights for students studying abroad who are looking to return to China for job opportunities. The data from this year’s campus recruitment survey revealed that the top sectors for overseas graduates who returned to China to find jobs were in the computer, internet, telecommunications, and electronics industries. Following closely behind were sectors such as accounting, finance, banking, and insurance.
Interestingly, the energy, environmental, and chemical sectors saw a significant surge in 2023, becoming the third-largest employment sectors for returnees. This information was jointly released by overseas consultancy EIC Education and recruitment portal 51Job, shedding light on the evolving job market trends for overseas returnees.
While first-tier cities like Shanghai, Beijing, and Shenzhen have traditionally been top choices for employment, the report noted a decline in preferences for these cities. Instead, emerging major cities such as Chengdu, Hangzhou, Nanjing, and Wuhan have seen a rise in popularity among returnees seeking job opportunities.
Employers are increasingly willing to offer overseas returnees more competitive compensation, including better salaries and promotion opportunities. In foreign and private companies, over 60 percent of returnees were found to occupy mid to senior-level management roles, showcasing the value placed on their international experience.
The survey highlighted that employers had a high demand for overseas graduates with master’s degrees, followed by bachelor’s degree holders. Additionally, government and research institutions showed a particular interest in PhD returnees, indicating a need for specialized expertise in certain sectors.
For students, research and development positions and management trainee roles were identified as the most common jobs for overseas graduates. Interestingly, marketing roles surpassed financial consulting to become the third-largest category of positions, reflecting changing industry demands.
The job search duration for returnees has lengthened, with only 30 percent securing employment within three months last year. Around 35 percent required three to six months to find a job, emphasizing the importance of persistence and patience in the job search process.
When seeking employment, returnees prioritized factors such as salary, career development opportunities, benefits, workload, and commute time. The report also highlighted the significance of internship experience, with over 80 percent of returnees having completed internships before entering the job market.
Returnees with STEM degrees were found to earn significantly higher annual incomes within three years of graduation compared to those with business or humanities degrees. Job stability was also noted to be relatively high, with over 60 percent of returnees remaining in their positions for one to three years, and nearly 30 percent staying for more than three years.
Overall, the 2024 employment competitiveness survey report provides valuable insights for overseas returnees looking to navigate the job market in China. With evolving trends and preferences, it is essential for students studying abroad to stay informed and adapt to the changing landscape of employment opportunities upon their return.