Pan Lu, a graduate of Tongji University, said that he was offered a satisfactory salary by several start-ups but ultimately declined because he feared losing his job.

"Finding a job is not easy, especially if you want to work in top companies and State-owned enterprises that have good reputations. The high standards these top companies have set close the door for many graduates," said Pan.

But not all new graduates desire to be in well-known companies. Zheng Yang, a post-graduate student of Zhejiang University, said he would rather begin his career in a start-up as there are more opportunities to take the lead and learn.

The rising entrepreneurship fever in the country is also proving detrimental for start-ups looking for manpower. Since Chinese Premier Li Keqiang initiated the national push toward mass entrepreneurship and innovation in 2014, the government has implemented numerous preferential policies to support new businesses.

According to official statistics, an increasing number of graduates today are choosing to start their own business. In the past two years, authorities in Shanghai have helped more than 10,000 people start their own companies. Over 60 percent of these individuals are university graduates.

In addition, a growing number of graduates are also choosing to slow down their lifestyle. Based on the findings of a survey released by a major recruitment website, about 10 percent of the 93,420 graduates polled said they would not embark on a job hunt immediately after graduation.

Instead, these individuals said they are highly hesitant about taking on a job they have no interest in and would rather explore working on things they like.