Shanghai is an expensive city. I’m not talking about the red hot housing market, we all know the housing is getting very expensive here. I was talking about the relative income vs. spending.
Yesterday evening an old friend of mine, who works for a investment research firm, told me a fresh graduate is paid CNY 3,000. This is actully fairly high pay for new college graduate, cosidering financial is a hot area, and the fresh graduate is from Tsinghua/Bei Da (think that as MIT, or Harvard of China), with very good spoken English.
Experienced people are paid more. I learned from anothetr friend who is a HR executive, about 10% of people makes more than CNY 10,000 per month. Note this is also the threshold of income tax.
In the IT arena, I know some senior developer positions at MSFT pays more than 20,000 Yuan per month. I believe other multinational companies should have equivalent pay.