International marketing talents recruitment: special session
Marketing Talents - China Opportunities
Helping Chinese companies locate international talents
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Salaries in China and minimum wages for foreigners
As a result of the significant increase in salaries seen in China over the course of the last few years, many foreigners no longer have to necessarily wait for their firms to give them attractive expat contracts. You may make a significant amount of money in China if you have the talents and expertise that Chinese enterprises consider to be desirable. As you can see, this is the case.
In addition, when growth occurs with an increase in the level of education held by the local workforce, we are seeing a decrease in the need for highly paid expatriates, in comparison to a decade earlier. This pattern is also seen in Hong Kong, where a growing number of people from other countries are taking jobs in the local community.
There are significant variations in salaries between Chinese cities.
I have compiled a list of China's largest and most well-known cities, which are also the locations where the majority of expatriates end up working in China. First things first, let's have a look at the different pay scales in Shanghai.
The average expat salary in Shanghai was around USD 202,200 in 2017, making it one of the cities in the world with some of the highest expat wages. That was more than twice as much as was seen everywhere else in the world and was greater than the amounts seen in places such as Singapore, Hong Kong, and Tokyo.
It is important to note that rentals in Shanghai are also rather pricey, and that most of the time, firms would pay their foreign employees for the cost of their rent.
Having said that, keep in mind that earnings might vary greatly depending on the occupation.
People who work in banking, for instance, bring in a monthly salary of around RMB 36,100, which is equivalent to $5,157 in the United States. The wages range from a minimum of RMB 20,400 (about USD 2,914) all the way up to a maximum of RMB 66,800. (USD 9,542).
In 2018, Beijing had the highest incomes on average, and there was a considerable pay disparity between those working in private and non-private sectors in the city.
The incomes of expatriates are comparable to those in Shanghai, and working as an expat in Beijing may easily result in an income of 100,000 to 200,000 United States Dollars.
According to the website Payscale.com, the following is a list of the salary that residents make based on their profession:
RMB 228,000 for the position of Human Resources (HR) Manager Software Engineer. RMB 384,000 for the position of Project Manager, General or Unspecified Type RMB 234,000
RMB 495 000 for the position of Marketing Director
Shenzhen is a center for the technology industry, and elite earners make ten times more than the people with the lowest salaries. According to statistics provided by the government, professionals working in technology and finance have the highest average salaries, whilst manufacturing professions and catering positions have the lowest average salaries.
In 2017, the median incomes in the highest paying industries were RMB 25,274 per month, which is equivalent to USD 3,610. This is an increase from RMB 24,305 (3,472) in 2016.
If you want to live in a one-bedroom apartment in the central regions of the city and save some money each month, I would advise that you need have a monthly income of at least RMB 20,000. Shenzhen has seen significant rent increases over the last few years; nonetheless, the city is still less expensive to live in than Shanghai and Beijing.