The local government has not released statistics for monthly average wages for either non-private or private units for 2017. The median represents the middle salary value. The figures mentioned above are good approximations and are considered to be the standard. Employees in China are likely to observe a salary increase of approximately 9% every 15 months. Naturally the more years of experience the higher the wage. Get access to our salary comparison calculator by signing up. We wrote a guide to explain all about the different scenarios. It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? As per the report, Beijing, Shanghai and Shenzhen claimed the top three spots, with average monthly salaries of 11,521 yuan, 10,967 yuan, and 10,477 yuan, respectively. These figures tend to change frequently. Compared with that of last season, the monthly salary had risen 1.5 percent in absolute value, and increased 9.1 percent from a … If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. The figures mentioned above are good approximations and are considered to be the standard. It was introduced in 1994 but was only implemented in March 2004. This page provides - China Average Yearly Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). How to compare your salary. Both are indicators. In Shanghai, the monthly average wage in 2017 was RMB 7,132 (US$ 1,056), a 9.7 percent increase from the previous year. Salaries range from 8,020 CNY (lowest average) to 142,000 CNY (highest average, actual maximum salary is higher). The cost of living changes quite a bit depending on the city, and China does not have a … Shanghai’s social insurance contribution base has grown in tandem with the rapid increase in average salaries over the past five years. The decision really depends on your situation and experience among many other factors. $54,088. Compare average salaries by job title and skillset. A person working in Shanghai typically earns around 26,100 CNY per month. Naturally the more years of experience the higher the wage. The average salary for a Consultant is 元268,341 in Shanghai, China. For example, as of September 2018, levels in the city of Shanghai are as high as 2,420 RMB per month (and 20RMB per hour). Salaried jobs pay a fix amount regardless of the hours worked. Salary variations differ from person to person. Minimum Wages in China remained unchanged at 2480 CNY/Month in 2020 from 2480 CNY/Month in 2019. And Shenyang saw the lowest wage of 6,939 yuan. It now has China’s highest monthly wage floor, at 2,480 yuan. According to the Bureau of Labor Statistics (BLS), the median wage for workers in the United States in the first quarter of 2020 was $957 per week or $49,764 per year (assuming 52 weeks of work per year). The average salary for shanghai jobs is $59,184. China does not set on minimum wage for the entire nation. Trends in wages decreased by -100.0 percent in Q4 2020. The median represents the middle salary value. Wages in China averaged 13074.47 CNY/Year from 1952 until 2019, reaching an all time high of 93383 CNY/Year in 2019 and a record low of 445 CNY/Year in 1952. The median salary is 33,000 CNY per month, which means that half (50%) of the population are earning less than 33,000 CNY while the other half are earning more than 33,000 CNY. Popular Salaries. Closely related to the median are two values: the 25th and the 75th percentiles. If you are interested in the salary of a particular job, see below for salaries for specific job titles. 43% of surveyed staff in China reported that they haven't received any bonuses or incentives in the previous year while 57% said that they received at least one form of monetary bonus. GBP 650) and the monthly minimum wage increased to RMB 2… That is quite an investment. As per the report, Beijing, Shanghai and Shenzhen claimed the top three spots, with average monthly salaries of 11,521 yuan, 10,967 yuan, and 10,477 yuan, respectively. Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. Compare salaries city by city with our free salary wizard and convert your own salary to a local salary in Shanghai. 21 High Paying Jobs That Don't Require a College Degree! * Data from weather station: Shanghai, China. Family of four estimated monthly costs are 2,406.25$ (15,597.06¥) without rent (using our estimator). Time to read the page 30 min. The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency. Croatia's median net salary is $887 a … That is a … Salaried employees are usually exempt from overtime as opposed to hourly paid staff. What does the announcement mean? So who gets paid more: men or women? By Wenham ShenStarting April 1, seven Chinese cities and provinces raised their monthly minimum wages by an average of 12.5 percent, according to China News.