What’s The Average Salary in China in 2021?

Other developed economies like the United States and Japan have higher average salaries than in China. The typical Chinese employee earns around 3,51,600 Yuan per year on average (USD 54,422).

What is China's Average Salary?

China's average wage varies considerably across regions and cities. Wages are greater in Chinese cities like Beijing, Shanghai, Tianjin, Shenzhen, and Hangzhou.

The average income is also influenced by a number of other variables, such as education, industry, degree of experience, and industrial sector (the public and private sectors).

As of July 2021, the average monthly income in China is 29.300 Yuan (Chinese Yuan), or about USD 4,534 (US dollars).

RMB stands for Renminbi, and it is China's official currency. However, for the sake of this essay, we'll use the Chinese Yuan (CNY), which is the currency's commonly used worldwide moniker.

Let's take a closer look at China's average wage now, shall we?

The Median Hourly Wage

The average Chinese monthly income is 31,100 Yuan (US$ 4,813).

That implies that about half of the population has an annual income that is lower than the median.. The other half, on the other hand, is compensated above the median. The amount of individuals earning over the median income has a direct correlation to the country's economic growth.

Salary Range: Maximum and Minimum

The lowest and highest monthly salaries in China vary from 7,410 Yuan (USD 1,145) to 1,31,000 Yuan (USD 20,245). The minimum wage in China is 7,410 Yuan, while the maximum monthly income is 1,31,100 Yuan.

An increase in the annual average salary

Every 15 months, Chinese workers may expect a pay increase of around 9%, depending on their job title.

Although the phrase "annual pay" suggests an increase in income every year, this isn't always the case. Annual salaries are a little misleading. It varies from business to company how often employees get a raise.

The bare-bones salary required by law

The local government sets the minimum wage in China. Living costs, local salaries, and the availability and demand for workers are all factors.

Minimum wages vary widely between large and small cities for the reasons stated above.

Comparison of salaries based on years of experience, level of education, and location

In China, an employee's pay may range widely. A breakdown of the wage comparison based on factors such as experience, education, and location can be seen below.

Extensiveness of Knowledge

A person's pay naturally rises in line with his or her level of experience. Employees in China with two to five years of experience earn 32% more than their less experienced counterparts across all sectors, according to Payscale.

More experienced working professionals make 36% more than less experienced ones. After 10 years of experience, the typical salary of a worker doubles.

Salaries vary widely from one area to the next when factors such as education are taken into account. However, the information shown here is the average of many jobs.

To begin with, an ESL instructor in Shanghai makes an average of 15,952 Yuan a month.

People with diplomas earn 17% more than those who just completed high school. Those who have earned a bachelor's degree earn 24% more than those who just have a diploma.

Furthermore, those with a Master's degree earn 29% more than those with a Bachelor's degree. Ph.D. holders in China make 23 percent more than those with a Master's degree, according to the National Bureau of Economic Research.

Suzhou, Keelung, and Shanghai complete out the top five best paying cities, with an average yearly income of 5,39,175 yuan.