The financial industry tops the best paid list for university graduates, with an average annual income of 58,388 yuan (8,322 U.S. dollars) in 2007, followed by the IT and the medical industries. Insiders say that although the phenomenon is linked to last year's stock market boom, it largely stems from the financial and information industry's traditional place as high-salaried industries.

    According to the report's regional breakdown, the annual income for Shanghai graduates fell to 37,007 yuan (5,275 dollars) in 2007, but this was not enough to topple Shanghai from the number one spot for high paying cities, followed by Beijing, Shenzhen and Guangzhou.

    Salaries for graduates from junior colleges sustained a marked decline from 2006 to 2007, decreasing by 23.86 percent. On the up side, salaries for graduates with doctor's degree rose by 18.93 percent. Analysts say that the increasing corporate demand for doctoral graduates has driven the increase in salary.