Last year, the job market for college graduates faced a "freezing cold," with students lowering their base salary expectations repeatedly. In 2010, signs of recovery are evident everywhere, both in the economy and the job market.As the first wave of graduate job seekers approaches, beyond the hustle of job hunting, students are most concerned about salary trends, including wages and the "four insurances." For fresh graduates, two key benchmarks exist for understanding Shanghai's compensation landscape: the city's published graduate salary guidelines, minimum wage guidelines, and last year's average employee wages.
Benchmark 1:
Graduate Salary Guidelines Released by the Municipal Human Resources and Social Security Bureau
Recently, the Municipal Human Resources and Social Security Bureau released last year's graduate salary guidelines.
The survey covered 1,465 enterprises of various economic types in the city, targeting graduates from 2009 who had been employed for less than six months (including postgraduates, undergraduates, college graduates, and vocational school graduates). The valid sample size was 9,051 graduates, with 230 job positions published.
Benchmark 2:
Minimum Wage Guidelines vs. Previous Year's Average Employee Wage
Annually, the Municipal Human Resources and Social Security Bureau typically releases the previous year's average employee wage alongside the current year's minimum wage guidelines. While the city's minimum wage guidelines hold limited reference value for bachelor's degree holders, many enterprises set base salaries for sales positions at the city's minimum guideline level, supplementing it with performance-based commissions.This year's minimum wage guideline has just been released at 1,120 yuan, with the hourly minimum wage adjusted from 8 yuan to 9 yuan.
Another crucial reference point is the previous year's average employee wage. This figure not only gives recent graduates an understanding of Shanghai's general salary levels but also helps them determine the minimum contribution base for their social insurance and housing fund payments. Generally, the minimum contribution base for these funds in our city is 60% of the previous year's average employee wage, while the maximum base is three times that average.
If the contractual wage agreed upon between an employee and employer falls below this threshold, contributions are made based on Shanghai's minimum base. For wages exceeding the minimum but below three times the average, contributions are calculated using the actual wage stipulated in the labor contract. For reference, Shanghai's 2008 average annual wage was ¥39,502, with a monthly average of ¥3,292. The 2009 average wage has yet to be released.