China’s number of applicants to graduate schools dropped for the first time in nine years as jobseekers see a declining advantage to having a master’s degree in a bleak job market, reports Caixin. The number of graduate school applicants has climbed every year since 2015, and nearly tripled to 4.74 million for the class starting in 2023 from 1.65 million in 2015. But the number of applicants for the class starting in 2024 dropped by 358,000, the first decline in nine years.
In 2022, the admission rate for Chinese graduate schools was 24.22%, down from 29.05% in 2020.
As graduate programs are becoming more selective, increasingly demanding entrance exams make potential applicants flinch, Caixin learned from students. Meanwhile, the salary benefits brought by a higher degree are decreasing amid a record level of youth unemployment, prompting more college graduates to look for jobs immediately rather than continuing studies in graduate school.