Shanghai Offers Better Career Progression
China is one of the fastest growing economies in the world, and it just so happens to be one of the most popular destinations for British expatriates heading Asia. The interest from Brits and others from the western world has not been diminished in anyway, even though the economy in China has begun to slow down.
Living in China, specifically Beijing and Shanghai, has been attractive to British expatriates heading to Asia due to potentially better salaries and career progression opportunities. These positives have covered up any negatives, pollution being a perfect example. However, due to the negatives many Chinese companies have felt the need to increase salaries to compensate.
Other cities closing salary gap
Shanghai is expected to show the biggest salary growth as it works to become a global financial hub, a goal which the city aims to achieve by 2020. Research carried out by recruitment agents Hays have shown that almost 66% of employers in the mainland of China have increased salaries by 6% at the very minimum.
The problem Shanghai have is that its competitor cities are closing the salary gap quickly. While other cities may have their own advantages, it is Shanghai which offers new and current employees and even British expatriates heading to Asia with the best opportunities to see their own careers advance.
Now the question is, which areas are in-demand? The answer to which is, the areas directly associated with China’s economic development. Specifically, this includes accounting and roles in banks.