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Full Graduate Employment Despite Financial Tsunami

15 Apr 2010

Graduates of the year 2009 of the University of Hong Kong (HKU) secured full employment despite the sustained impact of the financial tsunami, the University's annual survey on graduates revealed.

1. Summary

The Careers and Placement Section of the HKU Centre of Development and Resources for Students (CEDARS) today (April 15, 2010) released the latest findings of the employment situation of its 2009 undergraduates. The key figures are:

Full employment for the fourth consecutive year (99.8%)
More graduates (22.7%) opted for further studies than in 2008 (18.0%)
Average gross salary per month dropped by 11.4% from $18,755 to $16,625
More graduates chose civil service and education sectors probably for more job security during the economic downturn.
More graduates changed jobs within six months upon graduation (16.5%, up from 11.4% in 2008). This reflects a gradual economic recovery towards the end of 2009.
More graduates fell into the gross monthly income group of $10,000 or below (14.6%, as compared to 4.1% in 2008).
Hong Kong continues to be the major employment destination (91.7%) for non-local graduates.

2. Survey methodology

The survey was conducted in the form of questionnaires to all 3,955 full-time graduates at all levels of the University. A total of 3,490 graduates replied, representing a response rate of 88.2% Among the Bachelor Degree graduates, the response rate was 90.6%.

3. Lower salaries, more job changes

The survey recorded a full employment rate at 99.8% among respondents, slightly higher than 99.4% recorded last year (Table 1).

The average gross salary dropped by 11.4% from $18,755 to $16,625. The drop is less severe among those in the civil service sector (-6.8%) and education sector (-0.5%) (Tables 2 & 3). The drop pushed the average gross salary back to the 2007 level. More graduates fell into a gross monthly income group of $10,000 or below, indicating that they were adjusting to the change in the employment market.

More graduates chose to be employed in the civil service (+2.7 percentage points) and the education sector (+1.6 percentage points) than in 2008 (Table 4). This contrasts with fewer graduates securing employment in commerce and industry (-3.7). It is common for graduates to opt for more job stability during an economic downturn.

As the economy recovered gradually towards the end of 2009, more graduates changed jobs within six months upon graduation this year (16.5%, up from 11.4% in 2008). Among them, 35.0% were given a better offer after landing their first job (Tables 5 & 6).

While the territory-wide total job vacancies in the four traditional pillar industries and six industries (as referred to by the Hong Kong SAR Government) declined (Tables 7 & 8), the fall in offers to HKU graduates has been less severe.

About 30.3 % of graduates joined the four traditional pillar industries, a slight drop from 32.8% in 2008, while 46.2% graduates chose to work in the six industries, same as last year.

More graduates need to travel frequently outside Hong Kong (16.8%), as compared to 13.4% recorded in 2008 (Table 9).

4. More graduates opted for further studies

More 2009 graduates (22.7%) opted for further studies than in 2008 (18.0%) (Table 1). This may be a result of the lower expectations of the graduates amidst a depressed employment market during the first months of 2009 and hence their decision to go for further studies to better equip themselves for future employment.

The pattern was somewhat similar to that of the economic downturn in 2003, when 26% of the students opted for further studies.

5. Hong Kong continues to be the major employment destination for non-local graduates.

About 91.7% of non-local graduates stayed in Hong Kong for employment after their graduation, up from 87.2% in 2008.

6. Looking Ahead

In the next three years (Table 10). They expect the future to be better than the present and to provide better employment opportunities.

For media enquiries, please contact Ms Trinni Choy, Assistant Director (Media) (Tel: 2859 2606 / Mobile: 9464 3431 / E-mail: pychoy@hku.hk ), or Ms Eva Ho, Careers and Placement, CEDARS, HKU (Tel: 2859 2303 / E-mail: eva.ho@cedars.hku.hk )

（from left）Dr Albert Chau, Dean of Student Affairs; Mr Herman Chan, Director of Careers and Placement; Mr Martin Mak, Technical Officer	HKU graduates of the year 2009 have secured full employment, according to an annual survey by the University
（from left）HUI Chi Lap (chemical technician);CHAN Chin Chun (looking to develop a new business in creative industry on the web); WEI Kaiyin Karl (research analyst, asset management); LIU Chung Ling (Education and Programme Officer of Videotage, a non-profit new media art organization); Sin Sai Lung (research assistant)

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