BEIJING, July 17, 2017 /PRNewswire/ -- Zhaopin Limited
(NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career
platform[1] in China
focused on connecting users with relevant job opportunities
throughout their career lifecycle, released its 2017 second-quarter
report on China labor market
supply and demand for white-collar workers. As the competition for
jobs eased in the second quarter, the average monthly salary
dropped by 3.8% over the previous quarter, the first
quarter-over-quarter decline in two years.
Second-Quarter of 2017 China White-Collar Labor Market
Highlights:
- The average monthly salary dropped to RMB7,376 in the second quarter of 2017, down 3.8%
over the first quarter. This was the first salary decline in
China since the second quarter of
2015.
- The falling average salary for white-collar workers was mainly
caused by the plunge in salaries at micro-sized companies, which
cut their salaries by 31% in the second quarter of 2017.
- Beijing continued to be the
city with the highest pay in the second quarter of 2017, with an
average monthly salary of RMB9,791,
representing a drop of RMB151 from
the first quarter.
- Competition among white-collar workers for jobs eased in the
second quarter of 2017, with an average of 35.8 applications per
job vacancy, down from 44.6 applications in the first quarter.
- Telecommunication/carrier operators/value-added service
replaced online games as the most competitive sector for job
seekers in the second quarter of 2017, with 57.3 applications per
vacancy.
- The most competitive occupation in the second quarter of 2017
was software/internet development/system integration with 122.7
applications per vacancy.
Declining Salaries
Based on online job postings in 37 key cities in China compiled by Zhaopin, the average monthly
salary in the second quarter of 2017 was RMB7,376, down 3.8% over the first quarter. This
was the first time that the average monthly salary declined
quarter-over-quarter since the second quarter of 2015 when Zhaopin
began to calculate the nationwide average salary for white-collar
workers.
The falling average salary for white-collar workers was mainly
caused by the plunge in salaries at micro-sized companies, which
cut their salaries by 31% in the second quarter. With investment
waning, many small start-ups became more rational and could no
longer offer higher salaries to attract talents. An additional
factor contributing to the overall decline in salaries in the
second quarter of 2017 was that more jobs were located in
lower-tier cities, where pay is normally lower.
Average monthly
salary for white-collar workers
|
Quarter
|
Average salary
(RMB)
|
Change over
previous quarter
|
Q2 2016
|
7,233
|
3.1%
|
Q3 2016
|
7,531
|
4.1%
|
Q4 2016
|
7,606
|
1.0%
|
Q1 2017
|
7,665
|
0.8%
|
Q2 2017
|
7,376
|
- 3.8%
|
Among job postings in the second quarter of 2017, 32.8% of
positions offered monthly salaries between RMB4,001 and 6,000, and 25.9% offered monthly
salaries of more than RMB8,000. About
20.3% of positions offered monthly salaries between RMB2,001 and 4,000.
Breakdown of
positions by monthly salaries in the second quarter of
2017
|
Salary
(RMB)
|
Percentage of
positions
|
Over 8,000
|
25.9%
|
6,001 to
8,000
|
19.8%
|
4,001 to
6,000
|
32.8%
|
2,001 to
4,000
|
20.3%
|
Below
2,000
|
1.1%
|
Beijing continued to be the
city with the highest pay in the second quarter of 2017, with an
average monthly salary of RMB9,791,
representing a drop of RMB151 from
the first quarter. The average monthly salary also declined
slightly in Shanghai and
Shenzhen in the second quarter.
The salary in Hangzhou actually
went up to RMB7,933, jumping to the
4th in ranking.
Average monthly
salary for cities in the second quarter of 2017
|
Ranking
|
City
|
Average
monthly salary (RMB)
|
Ranking
|
City
|
Average
monthly salary
(RMB)
|
1
|
Beijing
|
9,791
|
20
|
Changsha
|
6,721
|
2
|
Shanghai
|
9,337
|
21
|
Wuxi
|
6,704
|
3
|
Shenzhen
|
8,866
|
22
|
Lanzhou
|
6,638
|
4
|
Hangzhou
|
7,933
|
23
|
Kunming
|
6,592
|
5
|
Guangzhou
|
7,754
|
24
|
Nanchang
|
6,538
|
6
|
Dongguan
|
7,552
|
25
|
Hefei
|
6,516
|
7
|
Ningbo
|
7,423
|
26
|
Tianjin
|
6,477
|
8
|
Nanjing
|
7,263
|
27
|
Zhengzhou
|
6,448
|
9
|
Urumqi
|
7,230
|
28
|
Jinan
|
6,447
|
10
|
Xiamen
|
7,206
|
29
|
Qingdao
|
6,343
|
11
|
Suzhou
|
7,198
|
30
|
Dalian
|
6,213
|
12
|
Foshan
|
7,152
|
31
|
Xi'an
|
6,089
|
13
|
Haikou
|
7,145
|
32
|
Shijiazhuang
|
6,027
|
14
|
Chongqing
|
6,978
|
33
|
Taiyuan
|
5,959
|
15
|
Guiyang
|
6,918
|
34
|
Changchun
|
5,871
|
16
|
Nanning
|
6,908
|
35
|
Yantai
|
5,868
|
17
|
Chengdu
|
6,850
|
36
|
Shenyang
|
5,810
|
18
|
Fuzhou
|
6,785
|
37
|
Harbin
|
5,701
|
19
|
Wuhan
|
6,762
|
|
|
|
The best-paying sector in the second quarter of 2017 continued
to be professional services/consulting (finance and accounting,
legal and Human Resources, etc.) with an average monthly salary of
RMB10,165, followed by RMB9,475 for funds/securities/futures/investment
and RMB9,159 for intermediary
services.
Top 10 highest
paid sectors in the second quarter of 2017
|
Sector
|
Average
monthly
salary (RMB)
|
Professional
service/consulting (finance and accounting, legal and HR,
etc.)
|
10,165
|
Funds/securities/futures/investment
|
9,475
|
Intermediary
service
|
9,159
|
Cross-industry
operation
|
8,832
|
Banking
|
8,578
|
Trust/warrant/auction/pawn
|
8,339
|
Real
estate/construction/building materials/engineering
|
8,305
|
Insurance
|
8,246
|
Telecom/carrier
operators/value-added service
|
8,143
|
Energy/mineral/mining/smelting
|
7,934
|
The top three occupations with the highest monthly salaries in
the second quarter of 2017 were senior management (RMB18,818), IT management/project coordination
(RMB13,915) and
securities/futures/investment management/service (RMB11,546).
Top 10 highest
paid occupations in the second quarter of 2017
|
Occupation
|
Average
monthly
salary (RMB)
|
Senior
management
|
18,818
|
IT management/project
coordination
|
13,915
|
Securities/futures/investment
management/service
|
11,546
|
Sales
management
|
10,455
|
Civil servant/public
institution/research institution
|
10,168
|
Real estate
development/broker/agency
|
9,979
|
Banking
|
9,665
|
Software/internet
development/system integration
|
9,559
|
Trust/warrant/auction/pawn
|
9,361
|
Project
management/project coordination
|
9,348
|
Wholly foreign-owned enterprises offered the highest average
monthly salary of RMB8,064 in the
second quarter, followed by RMB8,025
for public companies and RMB7,903 for
joint ventures.
Average monthly
salaries from different types of companies
in the second
quarter of 2017
|
Type of
Company
|
Average
monthly
salary (RMB)
|
Wholly foreign-owned
enterprises
|
8,064
|
Public
companies
|
8,025
|
Joint
ventures
|
7,903
|
State-owned
enterprises
|
7,662
|
Private
companies
|
7,118
|
Public
institutions
|
7,109
|
The average monthly salary of micro-sized companies with fewer
than 20 employees plunged from RMB9,532 in the first quarter to RMB6,568 in the second quarter. With investment
waning, many start-ups could no longer afford to offer higher
salaries as before to attract talents.
Average monthly
salaries for companies of different sizes
in the second
quarter of 2017
|
Size of company
by
employee numbers
|
Average monthly
salary (RMB)
|
Below 20
|
6,568
|
20-99
|
7,014
|
100-499
|
7,217
|
500-999
|
7,651
|
1,000-9,999
|
8,098
|
Above
10,000
|
8,097
|
Job market competition easing for white-collar
workers
Zhaopin publishes the quarterly competitive index for the labor
market based on data collected from its online platform. The
competitive index is calculated based on the number of resume
applications divided by the number of job vacancies. For the second
quarter of 2017, the competitive index was 35.8, which means there
were an average of 36 applications per job vacancy, down from 44.6
in the first quarter of 2017.
Compared with the previous four quarters, the job market
competition for white-collar workers eased in the second quarter of
2017. With the aging demographic, the labor supply began to dwindle
in China. Meanwhile, job seekers
were more cautious and tended to submit fewer resumes than
before.
Competitive
index
|
Quarter
|
Competitive
index
|
Q2 2016
|
45.1
|
Q3 2016
|
37.8
|
Q4 2016
|
40.3
|
Q1 2017
|
44.6
|
Q2 2017
|
35.8
|
(Competitive index = number of applications/number of job
vacancies)
Beijing was by far the most
competitive city for white-collar workers, with a competitive index
of 89.9 in the second quarter of 2017, down from 96.0 in the first
quarter of 2017.
Competitive index
for cities in the second quarter of 2017
|
Ranking
|
City
|
Index
|
Ranking
|
City
|
Index
|
1
|
Beijing
|
89.9
|
20
|
Zhengzhou
|
20.6
|
2
|
Shenzhen
|
48.5
|
21
|
Lanzhou
|
20.5
|
3
|
Shanghai
|
42.7
|
22
|
Wuxi
|
19.0
|
4
|
Chengdu
|
42.4
|
23
|
Haikou
|
18.9
|
5
|
Shenyang
|
42.1
|
24
|
Shijiazhuang
|
18.8
|
6
|
Dalian
|
36.3
|
25
|
Kunming
|
18.0
|
7
|
Xi'an
|
35.4
|
26
|
Guiyang
|
17.1
|
8
|
Tianjin
|
34.0
|
27
|
Hefei
|
16.6
|
9
|
Guangzhou
|
29.1
|
28
|
Jinan
|
16.1
|
10
|
Chongqing
|
28.1
|
29
|
Yantai
|
14.6
|
11
|
Changsha
|
26.9
|
30
|
Urumqi
|
14.5
|
12
|
Wuhan
|
26.8
|
31
|
Fuzhou
|
14.3
|
13
|
Harbin
|
26.8
|
32
|
Nanchang
|
13.0
|
14
|
Suzhou
|
26.7
|
33
|
Xiamen
|
12.4
|
15
|
Hangzhou
|
25.4
|
34
|
Dongguan
|
12.1
|
16
|
Nanjing
|
25.1
|
35
|
Foshan
|
11.4
|
17
|
Changchun
|
23.9
|
36
|
Nanning
|
10.9
|
18
|
Taiyuan
|
22.0
|
37
|
Ningbo
|
10.0
|
19
|
Qingdao
|
21.5
|
|
|
|
Competitive index =
number of applications/number of job vacancies
|
First-tier cities (Beijing,
Shanghai, Shenzhen and Guangzhou) continued to be the top four cities
with the highest job demand in the second quarter of 2017. Emerging
first-tier cities, including Chengdu, Nanjing, Hangzhou, Tianjin and Xi'an, were also among the top ten cities with
the highest job demand.
Top ten cities
with the highest job demand
in the
second quarter of 2017
|
Ranking
|
City
|
1
|
Beijing
|
2
|
Shanghai
|
3
|
Shenzhen
|
4
|
Guangzhou
|
5
|
Zhengzhou
|
6
|
Chengdu
|
7
|
Nanjing
|
8
|
Hangzhou
|
9
|
Tianjin
|
10
|
Xi'an
|
The top ten cities with most job applications in the second
quarter of 2017 were the same cities with the highest job demand,
indicating that cities with high job demand were also attracting
job seekers.
Top ten cities
with most job applications
in the
second quarter of 2017
|
Ranking
|
City
|
1
|
Beijing
|
2
|
Shanghai
|
3
|
Shenzhen
|
4
|
Chengdu
|
5
|
Guangzhou
|
6
|
Xi'an
|
7
|
Tianjin
|
8
|
Hangzhou
|
9
|
Zhengzhou
|
10
|
Nanjing
|
In terms of employer size, companies with 1,000 to 9,999
employees were the most competitive for job seekers, with an index
of 42.5, followed by 40.5 for companies with 500 to 999 employees.
The competition for positions in small and micro-sized companies
was relatively low due to low brand recognition.
Competitive index for
different size companies
in the
second quarter of 2017
|
Size of
Company by
employee numbers
|
Index
|
Below 20
|
26.2
|
20-99
|
31.4
|
100-499
|
38.5
|
500-999
|
40.5
|
1,000-9,999
|
42.5
|
Over
10,000
|
35.1
|
Supply and demand by sector
In the second quarter of 2017, the internet/e-commerce sector
still topped the list with the most job vacancies, followed by real
estate/construction/building materials/engineering and
education/training/college sectors. The booming of artificial
intelligence created huge job demand in the internet/e-commerce
sector.
Top ten sectors
with the highest job demand in the second quarter of
2017
|
Ranking
|
Sector
|
1
|
Internet/e-commerce
|
2
|
Real
estate/construction/building materials/engineering
|
3
|
Education/training/college
|
4
|
Funds/securities/futures/investment
|
5
|
Computer
software
|
6
|
Professional
service/consulting (finance and accounting, legal and HR,
etc.)
|
7
|
Trade/export and
import
|
8
|
FMCG (food, drinks,
alcohol and tobacco, and chemicals for daily use)
|
9
|
IT services
(system/data/maintenance)
|
10
|
Media/publishing/movie and TV/culture
communications
|
Telecommunication/carrier operators/value-added service replaced
online games as the most competitive sector for job seekers in the
second quarter of 2017, with 57.3 applications per vacancy. The
competitive index for most sectors declined in the second quarter
of 2017 from the previous quarter.
Top ten most
competitive sectors in the second quarter of 2017
|
Ranking
|
Sector
|
Index
|
Ranking in
previous quarter
|
1
|
Telecom/carrier
operators/value-added service
|
57.3
|
3
|
2
|
Online
games
|
53.4
|
1
|
3
|
Aviation/aerospace
research and manufacturing
|
49.9
|
4
|
4
|
IT services
(system/data/maintenance)
|
47.8
|
5
|
5
|
Real
estate/construction/building
materials/engineering
|
47.4
|
2
|
6
|
Cross-industry
operation
|
45.1
|
8
|
7
|
Computer
software
|
44.9
|
6
|
8
|
Internet/e-commerce
|
42.7
|
7
|
9
|
Computer
hardware
|
42.1
|
14
|
10
|
Government/public
service/non-profit
|
41.7
|
10
|
Insurance continued to be the least competitive sector in the
second quarter of 2017, with 15.5 applications per vacancy,
followed by 19.4 for intermediary service and 22.1 for office
supplies and equipment.
Least competitive
sectors in the second quarter of 2017
|
Sector
|
Index
|
Insurance
|
15.5
|
Intermediary
service
|
19.4
|
Office supplies and
equipment
|
22.1
|
Printing/packaging/papermaking
|
23.4
|
Home
furnishing/interior design/decoration
|
25.5
|
Outsourcing
service
|
25.9
|
Banking
|
26.5
|
Processing and
manufacturing (raw material processing/mould)
|
26.7
|
Hotel/restaurant
|
27.3
|
Healthcare/nursing/beauty
|
27.3
|
The sectors with the most job applications in the second quarter
of 2017 included internet/e-commerce, computer software and real
estate/construction/building materials/engineering.
Top ten sectors
with the most job applications in the second quarter
of 2017
|
Ranking
|
Sector
|
1
|
Internet/e-commerce
|
2
|
Computer
software
|
3
|
Real
estate/construction/building materials/engineering
|
4
|
Funds/securities/futures/investment
|
5
|
IT services
(system/data/maintenance)
|
6
|
Education/training/college
|
7
|
Professional
service/consulting (finance and accounting, legal and HR,
etc.)
|
8
|
Media/publishing/movie and TV/culture
communications
|
9
|
FMCG (food, drinks,
alcohol and tobacco, and chemicals for daily use)
|
10
|
Trade/export and
import
|
Supply and demand by occupation
The top occupations with the most vacancies for white collar
workers in the second quarter of 2017 were almost the same as in
the first quarter of 2017, including sales,
administration/logistics/secretary, and software/internet
development/system integration.
Top ten
occupations with the highest job demand in the second
quarter of 2017
|
Ranking
|
Occupation
|
1
|
Sales
|
2
|
Administration/logistics/secretary
|
3
|
Software/internet
development/system integration
|
4
|
Sales
management
|
5
|
Education/training
|
6
|
Finance/auditing/tax
|
7
|
Customer
service/pre-sales and after-sales support
|
8
|
Human
resources
|
9
|
Civil
engineering/construction/decoration/municipal
engineering
|
10
|
Marketing
|
The most competitive occupation in the second quarter of 2017
was software/internet development/system integration with 122.7
applications per vacancy, followed by 88.4 for IT quality
management/testing/configuration management, and 67.4 for
finance/auditing/tax.
Top 10 most
competitive occupations in the second quarter of
2017
|
Ranking
|
Occupation
|
Index
|
Ranking in
previous quarter
|
1
|
Software/internet
development/system integration
|
122.7
|
1
|
2
|
IT quality
management/testing/configuration management
|
88.4
|
4
|
3
|
Finance/auditing/tax
|
67.4
|
2
|
4
|
Transportation
services
|
60.4
|
5
|
5
|
Senior
management
|
58.2
|
6
|
6
|
Human
resources
|
53.6
|
7
|
7
|
Civil
engineering/construction/decoration/municipal
engineering
|
51.2
|
3
|
8
|
Administration/logistics/secretary
|
44.6
|
9
|
9
|
IT management/project
coordination
|
42.6
|
14
|
10
|
Purchasing/trade
|
42.0
|
8
|
The least competitive occupations in the second quarter of 2017
were healthcare/beauty/hairdressing/bodybuilding with 9.6
applications per vacancy, followed by 12.4 for
community/residency/housekeeping, and 12.7 for insurance.
Least competitive
occupations in the second quarter of 2017
|
Occupation
|
Index
|
Healthcare/beauty/hairdressing/bodybuilding
|
9.6
|
Community/residency/housekeeping
|
12.4
|
Insurance
|
12.7
|
Sales
|
12.9
|
Cooking/catering/food
R&D
|
14.4
|
Mechanic/operator
|
15.1
|
Hospital/medical
care/nursing
|
15.7
|
Education/training
|
16.1
|
Farming/forestry/animal husbandry/fishery
|
16.5
|
Customer
service/pre-sales and after-sales
support
|
18.3
|
The top ten occupations with the most job applications in the
second quarter of 2017 were the same as in the first quarter of
2017 with some changes in rankings.
Top ten
occupations with the most job applications in the
second quarter of 2017
|
Ranking
|
Occupation
|
1
|
Software/internet
development/system integration
|
2
|
Finance/auditing/tax
|
3
|
Administration/logistics/secretary
|
4
|
Human
resources
|
5
|
Civil
engineering/construction/decoration/municipal
engineering
|
6
|
Sales
|
7
|
Internet
product/operation management
|
8
|
Art/design
|
9
|
Sales
management
|
10
|
Purchasing/trade
|
About Zhaopin Limited
Zhaopin is a leading career platform in China, focusing on connecting users with
relevant job opportunities throughout their career lifecycle. The
Company's zhaopin.com website is the most popular career platform
in China as measured by average
daily unique visitors in each of the 12 months ended March 31, 2017, number of registered users as of
March 31, 2017 and number of unique
customers[2] for the three months ended March 31, 2017. The Company's over 135.0 million
registered users include diverse and educated job seekers who are
at various stages of their careers and are in demand by employers
as a result of the general shortage of skilled and educated workers
in China. In the fiscal year ended
June 30, 2016, approximately 36.9
million job postings[3] were placed on Zhaopin's
platform by 509,813 unique customers including multinational
corporations, small and medium-sized enterprises and state-owned
entities. The quality and quantity of Zhaopin's users and the
resumes in the Company's database attract an increasing number of
customers. This in turn leads to more users turning to Zhaopin as
their primary recruitment and career- related services provider,
creating strong network effects and significant entry barriers for
potential competitors. For more information, please visit
http://www.zhaopin.com.
Safe Harbor Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Zhaopin may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about Zhaopin's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: Zhaopin's goals and strategies; its future business
development, financial condition and results of operations; its
ability to retain and grow its user and customer base for its
online career platform; the growth of, and trends in, the markets
for its services in China; the
demand for and market acceptance of its brand and services;
competition in its industry in China; its ability to maintain the network
infrastructure necessary to operate its website and mobile
applications; relevant government policies and regulations relating
to the corporate structure, business and industry; and its ability
to protect its users' information and adequately address privacy
concerns. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. All information
provided in this press release is current as of the date of the
press release, and Zhaopin does not undertake any obligation to
update such information, except as required under applicable
law.
[1]
Zhaopin's website is the most popular career platform in China as
measured by average daily unique visitors in each of the 12 months
ended March 31, 2017, the number of registered users as of
March 31, 2017 and the number of unique customers for the three
months ended March 31, 2017.
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[2] A
"unique customer" refers to a customer that purchases the Company's
online recruitment services during a specified period. Zhaopin
makes adjustments for multiple purchases by the same customer to
avoid double counting. Each customer is assigned a unique
identification number in the Company's information management
system. Affiliates and branches of a given customer may, under
certain circumstances, be counted as separate unique
customers.
|
[3]
Zhaopin calculates the number of job postings by counting the
number of newly placed job postings during each respective period.
Job postings that were placed prior to a specified period - even if
available during such period - are not counted as job postings for
such period. Any particular job posting placed on the Company's
website may include more than one job opening or
position.
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For more information, please contact:
Zhaopin Limited
Ms. Daisy Wang
Investor Relations
ir@zhaopin.com.cn
ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
Edmond.Lococo@icrinc.com
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content:http://www.prnewswire.com/news-releases/china-white-collar-average-salary-declined-in-the-second-quarter-of-2017-300488909.html
SOURCE Zhaopin Limited