A New York Times editorial on June 4 noted that even those American graduates lucky enough to find decent work will face reduced starting salaries this year. From 2007 to 2011, wages for young college graduates, adjusted for inflation, declined 4.6 percent, or about $2,000 a year, the paper said. Many others will struggle to find work or have to settle for lower-level or lower-paid positions that don't require a college degree. "The posts available for international students are very limited at job fairs," Hu said.
For Yang Jie, who graduated in 2011 with a master's degree in business administration from New York's Fordham University, 12 months of job hunting in the US didn't end happily. After sending more than 100 application letters and getting a few phone interviews, he has yet to receive a single offer.
But Yang said he isn't frustrated. "This is quite normal. Even some American graduates might face the disappointment of moving back in with their parents, or have to work at a cafe to payoff loans," he said.
He plans to fly back to China in July and research the domestic market's potential for an education business he has in mind.
"More and more Chinese families want their children to study in the US at younger ages," he said. "I want to start my career by setting up a study-abroad website to serve Chinese applicants."
Data shows Chinese have outnumbered Indian peers to become the leading group of international students at US colleges and universities since the 2009-10 academic year.
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