I left Shanghai in 1990 and now living in Shanghai working for a US company, supervising people across Asia. I would say I have the most difficult time managing recruits in Shanghai.
I ran into quite a few people looking for jobs. They are not suitable for my organization because we look for people with experience. However, in dealing with them most of them expressed the same sentiment like the author. I am not surprised by their dissatisfaction. I am appaled by their total out-of-touch with reality.
The fact that they are university graduates does not warrant high salary. Meanwhile, not getting high salary does not give them reason to feel bad for themselves. It is a start. Young people have the best asset - being young, with room for development.
What some new graduates always fail to realize is that they cannot expect to be successful without enduring harshness and difficulty for a few years. Unless someone has connections, otherwise it is true for everyone. Do not blame that people do not see your value. If you have value, people will discover it sooner or later. Develop yourself. The world does not revolve around graduates. If they are paid RMB 1200 and cannot make a living in Shanghai, that is their problem. I remember the days that I lived on $400 a month when I went to school and worked part-time in US (yeah $400 > RMB 1200 but anyone stayed in US knew it would be difficult. No car. Sharing apartment). $400 = RMB 3200 is probably what some young "white collar" here spend a month on shopping, partying, and playing.
Well, it is time to be welcome back to reality.