A recently released report from Universum Global, a human resources consulting firm, revealed the nations with the highest and the lowest salary expectations.
The rankings, as reported by Forbes, were based on a survey of 533,351 business and STEM (science, technology, engineering, and mathematics) students from 29 countries.
Young respondents were asked to answer the question: What salary do you expect to earn in your first job after graduation?
Recent graduates from Sweden, Norway, Denmark, the US, and Germany had the highest expectations upon receiving a degree, with salary requirements ranging anywhere from 50,000-70,000 USD.
While the Czech Republic ranks rather high on the Forbes Best Countries for Business list – and boasts a growing GDP and talented workforce – Czechia was listed among the nations with the lowest salary expectations in the world.
According to the report, Czech business students expected to earn a starting salary of $14,901; STEM students sought $15,527.
In the Czech Republic, the average monthly salary is roughly 29,050 CZK before tax, meaning per this survey Czech business students expect to earn 25,300 CZK per month while STEM students seek 26,260 CZK per month.
Students in Kazakhstan expected the lowest pay in the world, followed by Indonesia.
One explanation for the results of the poll is psychology: Czechs have been historically reluctant to ask for higher salaries, say HR experts. Additional factors include the possibility of perceived competition in these fields, as well as a lower cost of living.
An article in today’s iDnes says that the wage demands of young people are, in fact, on the rise.