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BEIJING, Oct. 19, 2017 /PRNewswire/ -- Zhaopin Limited ("Zhaopin" or the "Company"), a leading career platform[2] in China focused on connecting users with relevant job opportunities through their career lifecycle, released its 2017 third-quarter report on China labor market supply and demand for white-collar workers. While the competition for jobs continued to ease in the third quarter, the average monthly salary for white-collar workers went up to reach RMB7,599, representing a 3% increase over the previous quarter.

Third-Quarter of 2017 China White-Collar Labor Market Highlights:

• The average monthly salary reached RMB7,599 in the third quarter of 2017, up 3% over the second quarter.
• The overall economy was picking up in the third quarter, and emerging first-tier cities were offering higher salaries and subsidies to attract more talent, which pushed up the average monthly salary for white-collar workers in China.
• Beijing continued to be the city with the highest pay in the third quarter of 2017, with an average monthly salary of RMB9,900, up from RMB9,791 in the second quarter.
• Competition for jobs among white-collar workers continued to ease in the third quarter of 2017, with an average of 30.4 applications per job vacancy, down from 35.8 applications in the second quarter.
• Online games returned to the top as the most competitive sector for job seekers in the third quarter of 2017, with 50.0 applications per vacancy.
• The most competitive occupation in the third quarter of 2017 was software/internet development/system integration with 101.2 applications per vacancy.

Salaries going up slightly

Based on online job postings in 37 key cities in China compiled by Zhaopin, the average monthly salary in the third quarter of 2017 was RMB7,599, up 3% over the second quarter. The overall economy was picking up in the third quarter, and emerging first-tier cities were offering higher salaries and subsidies to attract more talent, which pushed up the average monthly salary for white-collar workers in China.

Among job postings in the third quarter of 2017, 32.6% of positions offered monthly salaries between RMB4,001 and 6,000, and 27.6% offered monthly salaries of more than RMB8,000. About 21% of positions offered monthly salaries between RMB6,001 and 8,000.

Beijing continued to be the city with the highest pay in the third quarter of 2017, with an average monthly salary of RMB9,900, up from RMB9,791 in the second quarter. Ningbo climbed to 5^th in the ranking with an average monthly salary of RMB7,843 in the third quarter, and Haikou jumped to 7^th from 13^th with an average monthly salary of RMB7,722. Both cities were making efforts to lure talents with attractive packages.

The best-paying sector in the third quarter of 2017 continued to be professional services/consulting (finance and accounting, legal and Human Resources, etc.) with an average monthly salary of RMB10,187, followed by RMB9,703 for funds/securities/futures/investment and RMB9,336 for academic/R&D.

The top three occupations with the highest monthly salaries in the third quarter of 2017 were senior management (RMB20,019), IT management/project coordination (RMB14,127) and securities/futures/investment management/service (RMB11,690).

Wholly foreign-owned enterprises offered the highest average monthly salary of RMB8,286 in the third quarter, followed by RMB8,163 for joint ventures and RMB8,080 for public companies.

Larger companies offered higher salaries in the third quarter. Small and micro-sized companies were not competitive to attract talent.

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 third quarter of 2017, the competitive index was 30.4, which means there were an average of 30.4 applications per job vacancy, down from 35.8 in the second quarter of 2017.

Compared with the previous four quarters, the job market competition for white-collar workers continued to ease in the third quarter of 2017. Autumn is traditionally a slow season for job hopping, and white-collar workers were more cautious in seeking new opportunities.

(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 82.4 in the third quarter of 2017, down from 89.9 in the second quarter of 2017.

First-tier cities (Beijing, Shanghai, Shenzhen and Guangzhou) continued to be the top four cities with the highest job demand in the third quarter of 2017. Emerging first-tier cities, including Chengdu, Hangzhou, Nanjing and Xi'an, were also among the top ten cities with the highest job demand.

Eight of the top ten cities with most job applications in the third quarter of 2017 were also cities with the highest job demand, indicating that these cities with high job demand were also attracting job seekers.

In terms of employer size, companies with 1,000 to 9,999 employees were the most competitive for job seekers, with an index of 39.7, followed by 34.1 for companies over 10,000 employees. The competition for positions in small and micro-sized companies was relatively low due to low brand recognition.

Supply and demand by sector

In the third quarter of 2017, the internet/e-commerce sector continued to top the list with the most job vacancies, followed by real estate/construction/building materials/engineering and education/training/college sectors.

Online games returned to the top as the most competitive sector for job seekers in the third quarter of 2017, with 50 applications per vacancy. The competitive index for most sectors declined in the third quarter of 2017 from the previous quarter.

Insurance continued to be the least competitive sector in the third quarter of 2017, with 12.5 applications per vacancy, followed by 15.6 for intermediary service and 17.0 for office supplies and equipment.

The sectors with the most job applications in the third quarter of 2017 included internet/e-commerce, computer software and real estate/construction/building materials/engineering.

Supply and demand by occupation

The top occupations with the most vacancies for white collar workers in the third quarter of 2017 were almost the same as in the second quarter of 2017, including sales, administration/logistics/secretary, and software/internet development/system integration.

The most competitive occupation in the third quarter of 2017 was software/internet development/system integration with 101.2 applications per vacancy, followed by 87.1 for IT quality management/testing/configuration management, and 59.3 for senior management.

The least competitive occupations in the third quarter of 2017 were healthcare/beauty/hairdressing/bodybuilding with 9.7 applications per vacancy, followed by 10.3 for community/residency/housekeeping, and 10.5 for insurance.

The top ten occupations with the most job applications in the third quarter of 2017 were almost the same as in the second quarter of 2017.

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 June 30, 2017, number of registered users as of June 30, 2017 and number of unique customers[3] for the three months ended June 30, 2017. The Company's over 140.0 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, 2017, approximately 49.3 million job postings[4] were placed on Zhaopin's platform by 613,083 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.

For more information, please contact:

ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
Edmond.Lococo@icrinc.com

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SOURCE Zhaopin Limited