CFA Institute finds Finance and STEM most attractive for career prospects for Graduates in mainland China

The 2023 China Graduate Outlook Survey released today by CFA Institute, the global association of investment professionals, found that more than a half (51%) of the 1,000 respondents feel most confident about their career prospects in finance, followed by STEM (science, technology, engineering and mathematics) at 37%.

Compared to what respondents felt at the start of their university studies, more than a half of the undergraduate (52%) and young professional respondents (54%) now find the finance sector the most appealing, an increase of 10 percentage points. Investment professional (28%) and IT engineer (21%) topped the list of ideal jobs.

“A record number of university students graduated in mainland China this year, adding to an already highly competitive job market. Despite the uncertain environment, most students and recent graduates have maintained their confidence in their career prospects, most notably in finance,” said David Zhang, Country Head, China, CFA Institute. “The survey shows a desire for graduates to prolong their time in education, through certifications and training, with a clear understanding that this is a powerful way to continue to grow professionally and advance their careers. The financial industry is constantly evolving, especially in volatile times like today. It is essential to stay curious and work hard to be equipped with new skills, such as data science, artificial intelligence, and ESG investing, to remain relevant and competitive. This is where CFA Institute plays a vital role to help equip talent with the finance skills of the future, by being where you come to skill, upskill, and reskill.”

While respondents said that a good salary remains important, more than two in five cited clear progression opportunities (43%) as what they most seek in an employer, followed by a flexible working environment (34%). More than a quarter view a lack of career progression (26%) and jobs in their preferred sector (25%) as their biggest concerns regarding their career prospects.

Given the uncertain environment since the pandemic’s onset, the survey found that more than four in five (81%) plan to prolong their time in higher education while the job market remains volatile. Respondents expressed robust confidence in the importance of higher education qualifications. Four in five say professional certifications have a large impact on their earnings prospects, job fulfillment, and opportunities. More than nine in 10 said post-graduate qualifications and professional certifications will help secure higher earnings (92%) and give an edge in the current job market (90%). Given the impact of artificial intelligence on finance jobs, three in four of the undergraduate respondents show more willingness to gain global professional certifications.

In terms of preferred work location, nearly four in five of the young professional respondents (89%) who are currently studying abroad plan to return to mainland China for employment.