In light of the increase in youth unemployment rates, Chinese graduates are gravitating towards high-paying AI and blockchain jobs, confirming their status as top career paths this year.

In 2023, university graduates in China are encountering a propitious job landscape, particularly within the AI sector that leads the field in average salary according to insights from Liepin, a well-known Chinese recruiting platform. AI sector The growing demand for skilled professionals in AI, especially with expertise in generative AI, is catalyzed by an ongoing competition to create services similar to those offered by ChatGPT. The average salary in the AI field has increased by over 40% within the last three years, emphasizing the urgent recruitment of talent.

The report  underlines Recent graduates can now look forward to an average monthly wage of 18,592 yuan ($2,600) when entering the AI arena, which surpasses earnings in other sectors. Key positions in areas such as model pre-training, chatbots, and AI-generated content have risen dramatically, tripling over the past five years.

Following AI, blockchain emerges as the second most promising field, succeeded by industries such as elderly care, aviation, aerospace technology, and computer hardware. These sectors also offer appealing salaries ranging from 15,500 to 17,500 yuan per month.

Both AI and blockchain stand as revolutionary forces in the job market, creating new avenues for professionals. A report by the World Economic Forum predicts that AI alone could generate up to 97 million new jobs by 2025. In parallel, blockchain technology will pave the way for new business models, including cryptocurrencies and smart contracts while enhancing existing frameworks with improved security and reliability.

AI and Blockchain are Reshaping Work

Yet, the introduction of these technologies comes with its own set of hurdles and concerns for the workforce. AI may render some jobs obsolete—especially those based on repetitive tasks—prompting the necessity for employees to adapt by acquiring new skills. Moreover, it raises ethical and societal questions surrounding data privacy, biases, accountability, and governance.

AI and blockchain are redefining the employment landscape. They not only provide vast opportunities for creativity and economic success but also come with considerable challenges and uncertainties. Individuals who can adeptly navigate these technological advancements will gain a substantial competitive benefit in the global job market and contribute positively to society.

Escalating Salaries Against Economic Headwinds for China’s Graduates

Amid a fierce competition for talent, cities are leveraging high compensation packages to attract fresh graduates. Despite substantial investments in tech hubs like Xian and Hefei, fields such as IT, internet services, and video gaming remain the most appealing to new graduates. Sectors like electronics, telecommunications, and semiconductors have seen a tremendous rise, with CV submissions nearly doubling since 2021.

Even though the average starting salary for university graduates in China for 2023 is modestly lower compared to the previous year, Liepin attributes this to broader economic uncertainties, while still noting that these salaries exceed those recorded in 2021.

Examining the regional landscape, Beijing boasts the highest average salary at 13,283 yuan, succeeded by other major hubs like Shanghai, Shenzhen, and Hangzhou, which are home to tech titans like Baidu and Meituan.

Reports from SCMP highlight that China is currently wrestling with economic hurdles, a sharp rise in youth unemployment, and complications in the supply chain caused by the Covid-19 pandemic. This year saw a historic influx of 11.6 million graduates into the labor market, coinciding with youth unemployment rates skyrocketing to 21.3% in June, leading the government to halt the release of youth unemployment statistics.

Please understand that the information presented here is not designed to be, nor should it be perceived as, legal, tax, investment, financial, or any other type of professional advice. It's crucial to invest only what you can afford to lose and to seek independent financial counsel if uncertainties arise. For more details, we recommend reviewing the provided terms and conditions, as well as the help resources available from the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, yet market conditions can change without prior notice.