HKU graduates' employment rate reaches 98.8%, with average monthly salary edging up to HK$32,000

Several publicly-funded universities in Hong Kong have been releasing employment survey data of their latest undergraduate graduates. The University of Hong Kong (HKU) released the survey results yesterday (Aug. 2), which showed that only for those who intend to seek employment, the employment rate of its 2023 graduates is as high as 98.8%, and the average monthly salary has continued to grow to about HK$32,000, an increase of 3.4% compared with that of the previous year.

The HKU also analyzed the careers of last year's non-local graduates. 48.7% of them chose to seek jobs and take up employment, with the percentage of those who stayed in Hong Kong to work exceeding 70% for three consecutive years.

In terms of employment distribution, about 46% of HKU graduates joined the industrial and commercial sector, which is the most important employment sector, while the proportion of those who joined the social and personal services sector increased from 21.3% to 23.3%, and the proportion of those who joined the government sector increased from 12.5% to 14.4%, which is a relatively larger growth area.

As for salaries, the average monthly income of last year's HKU graduates was HK$31,982, a slight increase of 3.4% over HK$30,919 of the Class of 2022, while the median monthly income was maintained at HK$25,000. HKU graduates who joined the insurance and real estate sectors earned HK$27,154 and HK$23,852 per month respectively, with increases of 8% and 7.1% respectively, making them the sectors with the highest salary increases.

A total of 3,065 full-time HKU undergraduates participated in this survey, with a response rate of over 85%. Based on the total number of graduates, the percentage of employed graduates was 73.7%, a slight decrease of 0.6 percentage points compared to 2022, while the percentage of those pursuing further studies increased by 0.5 percentage points to 22.6%, and the percentage of those who are not yet in the labor market was only 0.9%, which is close to full employment. Among the employed group, 97.1% were offered their first job by the end of last year.

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