Vietnamese graduates have unrealistic salary expectations - survey

By VnExpress   March 11, 2017 | 12:00 am GMT+7
Vietnamese graduates have unrealistic salary expectations - survey
New graduates look for job opportunities at a career center in Hanoi. Photo by the Vietnam News Agency

Fresh graduates overestimate their chances of getting well-paying jobs in Vietnam, and they're not alone.

A survey conducted by employment site Jobstreet has found that Vietnamese university graduates have salary expectations that are out of sync with the local job market.

About 35 percent of the 1,600 new graduates surveyed expected a monthly salary of VND4 million-5 million ($175 - $220), and over 21 percent wanted to be paid as much as VND6 million ($264), based on the survey. Vietnam's average annual income was around $2,200 last year.

However, the average monthly salary on offer for new starters currently stands at $175 per month.

The survey also found that Vietnamese graduates aren't the only ones out of whack with reality.

For example, Hong Kong graduates expect average first-year salaries of $2,252-2,320, much higher than the average wage of $1,772 on offer.

In Singapore, university graduates actually make an average of $1,966 per month, but their expectations range from $2,416 to $2,609.

The Malaysia-based Jobstreet survey highlighted the fact that millennial students, those born in 1980 or later, asked for unrealistic salaries and benefits.

Millennials are very likely the largest group in the current workforce. According to audit, tax and consulting services provider PWC, as many as 45 percent of the population comprises of millennials, and an estimated 60 percent of the world’s millennials are expected to live in Asia by 2020.

A survey conducted by Business Insider revealed 69 percent of millennials said that money matters most in a job. That means pay is still the primary reason for companies to attract and retain their millennials and is also the deciding factor when changing jobs.

This is not surprising given better standard of living for millennials, said Jobstreet.

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