Salaries of mainland China electronic engineers rising by up to 12 percent – Global Sources survey
91 percent of respondents enjoy pension plans and other non-cash benefits
Hong Kong, September 15, 2004 Global Sources Ltd. (NASDAQ: GSOL) today released the results of its 2004 Annual Salary & Career Development Survey, which compares compensation levels among electronic engineers in mainland China's manufacturing industry. Survey results indicate that salaries are on the increase, particularly among engineers with advanced degrees.
Of the 2,287 electronic engineers surveyed, those with doctorates command an annual average salary of US$10,685, up 12 percent from last year. Engineers with master’s degrees receive US$9,853, a six percent rise. Those with bachelor’s degrees earn US$7,104, an eight percent increase.
The survey, conducted since 2001 by Global Sources publication Electronic Engineering Times-China (EE Times-China), provides China-based engineers with the information they need to make important career decisions, and employers with insights into compensation trends.
Commenting on the results, Mark A. Saunderson, publisher of EE Times-China said: "Electronic engineers are in great demand in mainland China as manufacturers respond to exploding global demand for consumer goods. These professionals are receiving higher pay and better benefits, reflecting the vibrancy of the electronics industry as a whole."
The survey indicates that non-cash compensation plays an increasingly important role in attracting and retaining electronic engineers in mainland China. Seventy-four percent of survey respondents benefit from employer-sponsored pension plans, compared to 61 percent last year. Sixty-six percent receive medical or health insurance, versus 58 percent last year. Sixty-four percent receive performance bonuses, compared to 54 percent in the 2003 survey.
Surveyed engineers work an average of 48 hours a week, one hour more than last year, to earn the additional benefits. The majority develop communications systems (33 percent), consumer electronics (30 percent), and computers, systems and peripherals (18 percent).
Engineers looking for new career opportunities
Most of the surveyed engineers believe their current job helps advance their career. Nevertheless, 63 percent are actively seeking new employment. Sixty-eight percent favor using job-search Websites, 55 percent rely on personal contacts and referrals, and 37 percent attend job fairs. Given the right offer, 72 percent of those not looking for new jobs will consider the offer.
The survey also presents freelance practices, willingness to relocate, and the criteria employed by jobseekers in evaluating new jobs and employers.
Complete survey results are available at the EE Times-China Website at http://www.eetchina.com/SURVEYS/SALARY04E.PPT .
Professionals interested in job opportunities in China and career development guidance can also visit Global Sources’ job-search Website, Career Sources China at www.csc.globalsources.com .