For immediate release 20 May 1999
HKUST RELEASES 1998 POSTGRADUATE EMPLOYMENT STATISTICS
Nearly 97% of full-time higher degree students graduating in 1998 from the Hong Kong University of Science and Technology had either found jobs, returned to their country of origin, or were continuing their graduate studies by December last year.According to the annual employment survey conducted by HKUSTÕs Career Center, 65% had found full-time employment, 15% had returned to their country of origin, while another 15% were pursuing advanced degrees at local or overseas universities.
Of the 204 respondents, only 2% were under-employed, an improvement of two percentage points over the previous year. However, in 1998, the unemployment rate rose one percentage point to 3%. Of the seven graduates still looking for jobs, two had in fact received offers but had declined them in search of better opportunities.
Education is the largest employment sector for PhD graduates who earn an average income of HK$29,231 per month. Research and taught masterÕs degree recipients, on the other hand, join the education, industry, and commerce and business sectors. Here, the average income of research degree graduates is HK$17,022, and of taught masterÕs degree recipients HK$21,009 per month.
ÒWe find the overall employment record of our advanced degree graduates satisfactory but the impact of the economic downturn on our graduates has been rather mixed,Ó said Cheryl Lee, counselor at HKUSTÕs Career Center, who was responsible for the survey.
ÒCompared with their counterparts who graduated in 1997, research graduates, including PhDs and MPhils, have a higher employment rate but lower salaries. Taught masterÕs degree (MSc/MBA/MA)recipients, on the other hand, are finding it more difficult to secure jobs, but they earn more,Ó continued Ms Lee.
An earlier survey revealed that HKUSTÕs bachelorÕs degree recipients have also maintained a satisfactory employment record. More than 95% of them had found jobs, started businesses, or been accepted for further studies by December last year. Of 1,807 respondents, 80% had found full-time jobs, earning a mean gross monthly salary of HK$12,269. Less than 5% were unemployed.
Note to Editors:
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