Career Choices

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In a startling sign of the times, and an early indication of how education and career choices are likely to change in the future “compensation levels in China’s finance sector continue to lose ground to the tech industry, with the latest example being scientists and researchers who are now better paid than financial professionals” according to the South China Morning Post. “The average annual income for workers employed by companies in the telecoms, software and information technology fields reached 161,352 yuan (US$22,998) per person, followed by an average annual income of 133,459 yuan in the scientific research and technical services industry and 131,405 yuan in finance”.

“The average annual wage in information technology was 1.78 times higher than the annual average for all industries, while the scientific research sector was 1.47 times higher, a sign that the country is now heavily investing in technology and scientific development. China is seeking ways to become technologically self-sufficient in domestic tech sectors such as semiconductors, 5G and data centres as it fights a trade and technology war with the United States and tries to stimulate domestic demand to boost a slowing economy”.


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