HR Vendors of the Year Awards is back again for its 5th year with a fascinating gala night to celebrate the best HR vendors in Hong Kong. Winning is both an affirmation of the exceptional quality of your work in the industry and among peers. Enter Awards now
Contact us now for more details.
The Department of Statistics, Malaysia (DOSM) has released its annual Salaries & Wages Survey for 2017, which reports that the median monthly salaries and wages received by employees rose 7.7% per annum from RM2,000 in 2016 to RM2,160 in 2017.
On the other hand, the mean monthly salaries and wages increased to RM2,880 as compared to RM2,657 in 2016, at a growth rate of 8.1%. Both these figures represent compounded annual growth rate, i.e. CAGR.
The findings were presented by demographic and socioeconomic characteristics, namely in gender, educational attainment, and strata.
According to the report, median monthly salaries and wages for both male and female employees posted high growth of 8.2% and 7% respectively. In terms of mean monthly salaries and wages, female employees recorded a higher growth of 9.1% while male employees were at 7.5%, also at CAGR.
By educational attainment
Meanwhile, the value of median and mean monthly salaries and wages for employees with tertiary education grew by 3% and 7.7% respectively, both figures in CAGR.
In 2017, the CAGR for median monthly salaries and wages of employees in urban areas increased by 6.6% per annum to RM2,260. Meanwhile, the median monthly salaries and wages for employees in rural areas grew 3.6%.
The CAGR in mean monthly salaries and wages of employees in both urban and rural areas was higher at 7.7% and 6.3% respectively.