What Is the Average Salary in Malaysia? Latest Insights and Data
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Malaysia's rapid and inclusive economic growth over the past five decades has brought it close to achieving high-income status. Domestic demand continues to drive the economy, with exports rebounding as external demand strengthens. Despite global challenges, Malaysia’s economy has remained resilient, with inflation well-managed.
Ranked fourth among Southeast Asian nations, Malaysia boasts an average salary of RM6,610, according to a study by Time Champ reported by Tempo. Salary Explorer further supported it by citing that the nation’s highest average salary reaches RM29,400, while the lowest is RM1,670.
Median salary according to DOSM
As of March 2024, Malaysia’s labor force consists of just over 16 million workers, including employers, employees, self-employed individuals, and unpaid family workers. In 2023, DOSM began reporting formal sector wages quarterly, using administrative data from the Employees Provident Fund (EPF), Social Security Organization (SOCSO), and DOSM itself. This data covers over 6 million employees, representing around 60% of Malaysia's formal workforce.
Key wage data for March 2024 shows the median monthly salary for workers across Malaysia stands at RM2,844, with Kuala Lumpur notably higher at RM4,256.
The distribution of wages highlights a stark contrast in earnings, with the majority of workers earning below RM3,000 per month:
Average salary by years of experience
According to a 2024 report by SalaryExplorer, the wage increase tied to experience is clear across various industries in Malaysia. As employees gain more experience, their earning potential increases significantly, with the largest salary jumps occurring within the first 10 to 15 years of a professional’s career.
Below are key insights into salary growth based on years of experience:
- 2 to 5 years of experience: Employees in this range typically earn 32% more than entry-level or junior workers.
- 5 to 10 years of experience: Professionals with more than five years of experience tend to see a 36% salary increase.
- 10 to 15 years of experience: After a decade of work, salaries rise by 21%, rewarding professionals for their expertise and ability to take on higher responsibility roles.
- 15 to 20 years of experience: Employees who have been in the workforce for over 15 years typically enjoy a further 14% boost in their salaries. At this stage, professionals often occupy senior or managerial roles, which command higher compensation.
- 20+ years of experience: For employees with more than 20 years of experience, salaries continue to grow, albeit at a slower pace, with an average increase of 9%.
These percentages represent general trends, but specific job roles, industries, and locations may influence actual salary increments. Nonetheless, for many professionals, their salaries often double by the time they reach the 10-year milestone in their careers.
Average salary by education
According to 2024 labor statistics, professionals with higher educational qualifications tend to earn more than their peers with the same level of work experience but lower educational attainment. Here’s a breakdown of average salary increases based on education level:
- Employees with a certificate or diploma earn 17% more than those who only have a high school diploma.
- Those with a Bachelor’s Degree see a 24% increase in salary compared to certificate or diploma holders.
- Professionals with a Master’s Degree earn 29% more than their peers with just a Bachelor’s Degree.
- Individuals with a Ph.D. typically command the highest salaries, earning 23% more than those with a Master’s Degree in the same roles.
The relationship between education and salary, however, varies depending on the field and location. These averages represent trends across multiple industries and job titles. For more specific figures, one should look at data for particular job roles or industries.
Is Pursuing Higher Education Worth It?
Investing in advanced degrees, such as a Master’s or MBA, can be a substantial financial commitment in Malaysia. During this time, professionals may not see significant salary increases until they complete their degree, as salary reviews often occur after obtaining new qualifications.
However, higher education is often a pathway to transitioning into higher-paying roles. Studies show that individuals who switch jobs after earning a higher degree receive a salary increase of about 10% beyond the usual annual raise.
Ultimately, the decision to pursue advanced education should factor in personal circumstances, career goals, and financial capacity. For those who can manage the financial cost, the potential to recoup these expenses within a year of obtaining a degree makes it an attractive option for long-term career growth.
Average salary by job role
To provide a comprehensive overview of salary expectations in Malaysia, we have compiled data from various trusted sources, including Michael Page, JobStreet, Randstad, and Robert Walters.
These insights help illustrate the typical salary ranges for several in-demand job roles across different experience levels and sectors.
Accounting & Finance
| Role | Annual salary (MYR) |
|---|---|
| Accounts Executive | 48,000 - 72,000 |
| Internal Audit Executive | 60,000 - 96,000 |
| Tax Accountant | 60,000 - 96,000 |
| Accountant | 84,000 - 120,000 |
| Audit Manager | 120,000 - 216,000 |
| Cost/ Credit Controller | 96,000 - 108,000 |
| Tax Analyst | 84,000 - 156,000 |
| Tax/ Finance Manager | 144,000 - 192,000 |
| Corporate Finance Manager | 144,000 - 216,000 |
| Head of Corporate Finance | 240,000 - 360,000 |
| Finance Director | 360,000 - 500,000 |
Human Resources
| Role | Annual salary (MYR) |
|---|---|
| Human Resources Executive | 36,000 - 72,000 |
| Human Resources Manager | 72,000 - 120,000 |
| Talent Acquisition Specialist | 48,000 - 96,000 |
| Talent Acquisition Manager | 84,000 - 144,000 |
| Learning & Development Specialist | 36,000 - 84,000 |
| Learning & Development Manager | 84,000 - 136,000 |
| Human Resources Director | 168,000 - 240,000 |
Sales & Marketing
| Role | Annual salary (MYR) |
|---|---|
| Marketing Executive | 36,000 - 84,000 |
| Content Writer/ Editor | 48,000 - 96,000 |
| Graphic Designer | 48,000 - 96,000 |
| Corporate Communication Officer | 60,000 - 84,000 |
| Marketing Manager | 96,000 - 144,000 |
| Digital Marketing Manager | 96,000 - 156,000 |
| Brand Manager | 108,000 - 172,000 |
| Head of Marketing | 156,000 - 240,000 |
| Marketing Director | 240,000 - 480,000 |
| Key Account Executive | 36,000 - 72,000 |
| Account Manager | 72,000 - 108,000 |
| Business Development Executive | 72,000 - 96,000 |
| Business Development Manager | 96,000 - 180,000 |
Tech & Transformation
| Role | Annual salary (MYR) |
|---|---|
| Data Scientist | 144,000 - 240,000 |
| Data Engineer | 144,000 - 240,000 |
| Data Architect | 180,000 - 300,000 |
| Product Manager | 120,000 - 240,000 |
| Head of Product | 240,000 - 420,000 |
| UI/UX Designer | 96,000 - 156,000 |
| UI/UX Manager | 120,000 - 216,000 |
| Full Stack Developer | 120,000 - 216,000 |
| Front/ Back End Developer | 120,000 - 180,000 |
| Mobile Developer | 120,000 - 180,000 |
| Software Tester | 120,000 - 180,000 |
| Tech Lead | 180,000 - 240,000 |
| DevOps Engineer | 144,000 - 216,000 |
Engineering & Manufacturing
| Role | Annual salary (MYR) |
|---|---|
| Manufacturing/Operations/Plant Manager | 192,000 - 300,000 |
| Project Manager | 144,000 - 240,000 |
| Service Manager | 120,000 - 180,000 |
| Project Engineer | 84,000 - 126,000 |
| Process Engineer | 84,000 - 120,000 |
| Automation Engineer | 84,000 - 120,000 |
| Field Service Engineer | 72,000 - 96,000 |
| Sustainability Manager | 144,000 - 192,000 |
Supply Chain & Procurement
| Role | Annual salary (MYR) |
|---|---|
| Shipping Coordinator | 48,000 - 96,000 |
| Logistic Officer | 60,000 - 108,000 |
| Demand Planner | 96,000 - 180,000 |
| Trade Compliance Manager | 96,000 - 180,000 |
| Logistics Manager | 96,000 - 180,000 |
| Warehouse/ Inventory Manager | 96,000 - 144,000 |
| Procurement Officer | 60,000 - 108,000 |
| Procurement Manager | 108,000 - 180,000 |
| Supply Chain Officer | 60,000 - 120,000 |
| Supply Chain Manager | 120,000 - 204,000 |
Legal & Corporate Secretarial
| Role | Annual salary (MYR) |
|---|---|
| Lawyer - 1-4 yrs' PQE | 60,000 - 94,000 |
| Lawyer - 5-8 yrs' PQE | 94,000 - 160,000 |
| Lawyer - 8+ yrs' PQE | 160,000+ |
| Company Secretary - 1-4 yrs’ PQE | 44,000 - 80,000 |
| Company Secretary - 5-8 yrs’ PQE | 80,000 - 114,000 |
| Company Secretary - 8 yrs’ PQE | 114,000+ |
| Regulatory/ Compliance Administrator | 60,000 - 104,000 |
| Regulatory/ Compliance Manager | 104,000 - 188,000 |
| Head of Compliance | 188,000 - 276,000 |
Average salary by location
The average salary in Malaysia differs significantly depending on the location. According to data from the Department of Statistics Malaysia (DOSM), urban areas like Kuala Lumpur, Johor Bahru, and Penang tend to offer higher salaries compared to rural regions. This disparity is largely driven by the higher cost of living, increased demand for specialized skills, and concentration of industries in metropolitan areas. However, in rural areas, while salaries are generally lower, the cost of living is also more affordable, allowing for a different standard of living.
Below is a breakdown of the 2022 mean household income and mean expenditure in different states of Malaysia:
| State | Mean Income | Mean Expenditure |
|---|---|---|
| W.P. Kuala Lumpur | 13325 | 7823 |
| W.P. Putrajaya | 13473 | 8897 |
| Selangor | 12233 | 6770 |
| W.P. Labuan | 8250 | 4176 |
| Johor | 8517 | 5342 |
| Pulau Pinang | 8267 | 5322 |
| Melaka | 8057 | 5707 |
| Terengganu | 7248 | 4796 |
| Negeri Sembilan | 6788 | 4678 |
| Sarawak | 6457 | 3915 |
| Pahang | 5777 | 4107 |
| Perlis | 5664 | 3834 |
| Sabah | 6171 | 3342 |
| Perak | 5779 | 3903 |
| Kedah | 5550 | 3765 |
| Kelantan | 4885 | 3505 |
Source: DOSM
Average annual salary increments
According to JobStreet, the year 2023 marked a significant recovery period for companies and employees following the challenges of the Covid-19 pandemic. While 2022 saw an average salary increment of 7.2%, 2023 followed closely with an increment of 6.95% across most industries.
This slight decrease from the previous year still represents a positive trend, as the average increment exceeded the national inflation rate of 2.5% in 2023.
This means employees not only regained any losses from the challenging years but also experienced real wage growth. This growth reflects a more stable economic environment and promising prospects for the Malaysian workforce, showcasing a positive outlook for future salary reviews.
Average performance bonuses
2023 proved to be a positive year for employees, with more companies offering performance bonuses as a key part of their compensation packages. Performance bonuses remain the most popular type of bonus, with the average payout for 2023 reaching 1.7 months' salary, similar to the year before, according to JobStreet. This consistency highlights the commitment of employers to reward employees based on their performance, even as companies navigate post-pandemic recovery.
A study by Mercer indicates that performance bonuses not only enhance employee retention but also drive productivity, as employees feel rewarded for their contributions to the company's success.
Overall, this shows that companies are shifting towards a results-driven reward system, using performance bonuses as a tool to recognize and retain talent in a competitive job market.
Cost of Living in Malaysia
For a single person living in Malaysia, particularly in cities like Kuala Lumpur or Penang, the average monthly cost typically ranges from RM3,000 to RM5,000, depending on lifestyle and location.
Managing these expenses effectively requires balancing everyday living costs with long-term savings and investments.
Accommodation Costs
Housing is a significant expense. For instance, renting a two-bedroom apartment in Kuala Lumpur may cost around RM2,000 per month, while in cities like Johor Bahru, similar accommodations might be priced at RM1,500. This difference can impact budgeting for those relocating to urban centres.
Utilities and Internet
On average, utilities such as electricity, water, and internet add up to about RM350 per month. These costs are fairly consistent across different regions in Malaysia.
Transportation Expenses
Public transportation is an affordable option, with the My50 travel pass offering unlimited rides for just RM50 a month. However, car ownership can significantly increase monthly expenses by an additional RM600 for fuel and maintenance.
Food and Provisions
Grocery and dining expenses can range from RM700 per month, depending on lifestyle choices. While food prices in Kuala Lumpur may be slightly higher, the wide variety of affordable local cuisine helps balance out costs.
Healthcare and Insurance
Health insurance typically costs between RM150 to RM300 monthly, depending on coverage. It’s important to assess both the cost and accessibility of healthcare services in different regions.
Miscellaneous and Entertainment:
For leisure activities and unforeseen expenses, allocating about RM500 a month is a reasonable estimate, though this can vary based on personal preferences.
All and all, this works out to be a whopping RM3,900!
| Item | Cost (RM) |
|---|---|
| Housing | 2,000 |
| Utilities and Internet | 350 |
| Transportation | 100 |
| Food and Groceries | 700 |
| Healthcare and Insurance | 250 |
| Miscellaneous and Entertainment | 500 |
| Total Monthly Budget | 3,900 |
Tips for Maximising Your Salary in Malaysia
Increasing your salary starts with self-improvement and consistently demonstrating value to your employer. Before asking for a raise, it’s essential to focus on strategies that showcase your growth and contribution to the company. Here are some effective ways to position yourself for a salary increase:
- Acquire New Qualifications: Expanding your skill set makes you a more valuable employee. By gaining additional qualifications, you strengthen your case for a salary raise and increase your chances of promotions. Formal training not only enhances your practical skills but also provides theoretical knowledge, making you a more versatile asset to your organisation.
- Maintain High Performance: Consistency is key when it comes to earning more. After receiving a raise, continue exceeding expectations and delivering exceptional results. Consistently good performance helps reinforce your value, making future salary negotiations easier, and elevates your professional reputation.
- Take on More Responsibilities: Volunteering for extra duties shows your readiness for growth and signals to management that you’re capable of handling more. Taking on new tasks provides a solid foundation for salary discussions and could open doors to more senior roles within the company.
- Earn a Stellar Performance Review: A strong performance review highlights your contributions and places you in a favorable position to request a salary increase. A great review emphasizes your value and supports your case for higher compensation.
- Seek Regular Feedback: Proactively ask for feedback from your managers to understand where you excel and what areas need improvement. Continuous feedback allows you to align your performance with company expectations, making your raise request more compelling when the time comes.
- Understand Your Role Fully: Before discussing a raise, ensure you clearly understand your role and the company’s expectations. Compare your duties with what’s required and identify areas for improvement. Mastering your responsibilities and adding unique value that no one else can offer puts you in a strong position to negotiate for a raise.
By following these strategies, you can build a solid case for salary growth and ensure your contributions are recognized and rewarded.
Make Your Money Work for You with StashAway
Saving is the first step towards building wealth, but making your money work for you is what leads to long-term financial success. To grow your savings, it’s essential to invest in a low-risk environment that offers optimal returns, especially during uncertain market conditions. StashAway Malaysia provides a smart and reliable way to achieve this.
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- 6.68% to 18.16% in USD
- 11.28% to 23.26% in MYR
With StashAway, you can confidently invest and make your money work harder for you.
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