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According to Kelly Services 2018 Malaysia Salary Guide, the residents can expect a 5.1% rise in nominal gross national income from RM40,713 in 2017 to RM42,777 per capita in 2018. Additionally, a stronger currency is in the works with the ringgit charting 9.5% against the US Dollar in 2017.
These factors could result to a continuing rise in income for Malaysia, encouraging further investment into research, education and innovation. In turn, increasing labour productivity and inclusive, sustainable economic development.
Human resources and administrative salary trends
Jobs that are in demand in the HR sector currently are HR manager and office manager. A HR manager can earn between RM8,000 to RM12,000 while an office manager can expect between RM6,200 to RM7,900 monthly.
Meanwhile, a CHRO with upto 20 years of experience can look forward to earning a salary in the range of RM40,000 to RM50,000 per month this year.
As a reminder, by end-2018, all government-linked investment companies, government-linked companies and statutory bodies would be required to set aside 30% of their board seats to women.
Banking and financial services salary trends
Banks are forecasted to see higher core earnings this year compared to 2017 as activity in the capital markets picks up and a higher interest rate environment boosts net interest margins. That being said, an in-demand job, strategic planning and financial analysis can look forward to a monthly salary of RM12,000 to RM38,000.
In corporate banking, global wholesale banking, and investment banking, experience of upto 15 years is to be valued in the range of RM 28,000-48000 per month.
Finance and accounting salary trends
With stricter enforcement of tax regulations after the 2015 implementation of the goods & services tax, professionals with strong taxation expertise remain valuable hires for companies. So, corporate planning managers could expect to earn between RM10,300 and RM18,000 while financial analysts can look forward to a salary RM4,600 to RM7,800.
At the highest level, the CFOs of MNCs, with 15-20 years of experience, are expected to take in between RM 40,000-60,000 per month.
Engineering salary trends
In the engineering sector, 200,000 engineers will be needed by 2020 to pursue developed nation status. This will mean tripling nearly 70,000 registered engineers of the talent pool. As a result, those as head of production could earn RM15,000 to RM25,000 and those as head of quality assurance could be looking at a salary of RM12,000 to RM20,000.
The coveted head of production job those those with upto 10 years of experience is valued at a salary of RM 15,000-25,000 per month.
Information and technology salary trends
Meanwhile, IT spending in 2018 is forecast to rise 5.7% to RM65.2 billion.The increased spending will be focus on adopting business digitalisation, blockchain technology and big data to encourage learning and artificial intelligence. A project manager can now expect a salary between RM8,000 and RM14,000 while and inside sales manager could earn RM6,500 to RM10,000.
For CIOs with 12-18 years of experience, RM 25,000-42000 is the expected per-month salary.
Sales and marketing salary trends
Jobs that are currently sought after in this sector include sales manager, senior key account manager, brand or product manager, and marketing communications manager. A sales manager can look forward to a salary of RM7,700 to RM15,8000 while a senior key account manager can expect to earn RM8,800 to RM13,700.
Regional sales directors with upto 10 years of experience can expect to fetch in the range of RM 30,000-35,000 salary per month.
The data was compiled from salaries and job titles recorded in the database of Capita Global and Kelly Services Malaysia.
Lead Photo / Kelly Services
Photo / Kelly Services