How Much Salary for Fresh Graduates in Malaysia
How Much Salary for Fresh Graduates in Malaysia
It is pertinent to note that Malaysia has one of the most successful economies you will find in Asia.
Malaysia has changed from just being a producer of raw materials into being an industrialized market economy. Its current economy entails two vital sectors which are manufacturing and international trade.
Understand that, over half of the labor force in Malaysia, is based on the services sector. Nonetheless, the focus of the country is on:
- Medicine, and;
Interestingly, all of these will make the environment an ideal one for you to start your international career. An added advantage for you will be its low cost of living.
For the fresh graduates who want to know how much they can make working in Malaysia, this article is for you.
Average Salary In Malaysia
First and foremost, the average gross salary in Malaysia as of 2019 was roughly $22,803 yearly, $1900 monthly, and $10.86 hourly.
Note that, salaries vary greatly between jobs and cities. If you want to be paid the highest wage, then they will have to be working in cities like:
- Kuala Lumpur – $2060 monthly
- Ipoh- $2033 monthly, and;
- Petaling Jaya – $2004 monthly
The currency in Malaysia is the Malaysian Ringgit (MYR) and it equals $0.24. This country is on the right track to having a highly flourishing economy and a stable labor force.
However, this does not mean your chances of employment are high as a foreigner. The fact is that the Malaysian companies tend to hire foreign workers when there is no Malaysian to fill the job role.
It is advisable to secure a job before you relocate instead of trying to get one before your arrival.
Understand that, in this country, you do not necessarily need to be a doctor, lawyer, or even an engineer before you start earning huge bucks. The professionals like expert gamers, executive chefs, and even ESL teachers are highly paid.
For Fresh graduates like you planning to begin a business or seeking employment in Malaysia, some of the monthly salaries you will discover for specific professions are:
- An attorney gets paid $2863
- A teacher gets paid $1519
- An architect gets paid $1777
- A pharmacist gets paid $2242
- An accountant gets paid $1280
- A human resources manager gets paid $2583
- An internal auditor gets paid $2023
- A receptionist gets paid $1075
- A dentist gets paid $4415
- A CEO gets paid $4400
Nevertheless, the percentage salary gap between professions is dependent on the employer, level of education, hierarchical position of the employee, and the location of the company.
For those who work in urban centers like Kuala Lumpur and Putrajaya, they are paid about fifty percent higher than the people working in rural areas.
Research has also revealed that those with degrees earn roughly sixty-four percent more than people with diplomas and they are paid about 2.8 times more than those with certificates.
The Top paying sector is the quarrying and mining sector and they earn roughly $1382.16. They are followed closely by real estate, education, financial services, insurance, and finally, information and communication.
Bear in mind that all of the salaried workers in Malaysia are demanded to pay income taxes on all the different types of income. This includes:
- Monthly salary
- Bonuses, and even;
Those who earn over $785.85 after deduction gets to pay tax on every one of their sources of income be it businesses, rent, dividends, or even employment.
However, you do not have to pay tax on income that you earn outside Malaysia or if you have worked in Malaysia for less than sixty days.
Note that, over thirty percent of the revenue of the government is gotten from the Petronas national oil company. Their labor force is concentrated within the industrial sector and this entails:
- Automotive, and;
- Construction industries
Another productive sector is the tourism sector. Malaysia is rich with lots of tourist attractions and its agricultural sector is productive especially in cash crops like palm oil and rubber.
Employment Law In Malaysia
It is vital to note that, the employment law in Malaysia is established on legislation like the EA, Employment Act. Understand that, employees that are protected under the EA are fully entitled to be completely paid:
- Sick leave
- Protection against any illegal decrease of wages
- Paid annual leave
- Overtime payment for those who work outside the normal working hours
- Eleven gazetted paid holidays, and;
- Minimum wage
While fathers do not have any statutory right to paternity leave, the new mums are fully entitled to ninety days of maternity leave and are paid in full.
Minimum Wage In Malaysia
It is worth noting that the minimum wage refers to the lowest salary that employees can be legally paid. The Malaysian government, they have set the standardized minimum wage at RM1050 monthly and RM5.05 hourly.
Note that, the minimum wage commensurate with productivity gains by being relatively in tandem with the productivity growth and economic activities in the state and the difference in the cost of living.
It is evident to note that any increase found in the minimum wage is gradual and never drastic. For the manufacturing industry, the workers receive allowances on top of their salary monthly.
So, if the minimum wage is high it will affect their overtime, increments, and bonus payments. It will also result in the high cost of the labor force which will result in extreme measures like retrenchment.
As for a drastic increase in the minimum wage, it will result in the increased outflow of foreign exchange in the form of none other but remittances.
With the existence of a minimum wage for the nation, some employees earn lower than this while others earn ninety times as much.
This has resulted in a vast pay gap between the poor and the rich as both parties are on the extreme ends. Note that, the salary is meant to cover:
- Income taxes
- House mortgage, and;
- Car credit for those with cars.
Note that, most of the workers in Malaysia live basic lives and are not able to save much except those that earn much.
Cost Of Living
The general cost of living in this country is quite lower when compared to some other amazing expatriation destinations. For the expats, you are to try embracing the way of life of the Malaysians.
It is advisable that you eat where the locals eat as western food at their restaurants is very expensive. You can get noodles for as low as one dollar in the places where you will find the locals eating.
Rather than purchase the expensive imports from the malls, you will save costs when you buy vegetables and fruits from locals. The houses that are within and near the cities are quite expensive.
This is why it is recommended that you live far from the cities. One-bedroom apartments within the city center cost roughly $578.6 monthly. And it costs just $325 monthly outside the city.
You can purchase a house for about $2088 per square meter in the city center. As an expat, mortgages are being provided for those who will want to purchase a property.
The information we have provided for you in this article is a glimpse of what a fresh graduate can earn monthly in Malaysia.
You must bear in mind that wages tend to change from time to time and there are some other wage determinants like market supply and demand, academic credits of employees, their skills, and working experience.
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