Salary is an important part of an employee’s financial security and wellbeing. It is therefore important to understand what a good salary is in Malaysia. In this article, we will explore the concept of a ‘good salary’ in Malaysia, looking at factors such as the cost of living, median salary and other considerations.
What is the Median Salary in Malaysia?
The median salary in Malaysia is RM4, 506 per month. This figure was calculated by taking into account the median wages of all full-time employees in the country. This figure is significantly lower than the median salary of other countries, such as the US or UK.
What is the Cost of Living in Malaysia?
The cost of living in Malaysia is relatively low compared to other countries. The cost of basic necessities, such as food and rent, are much lower than in other countries. Rent in particular is much lower than in other countries, with an average of RM 1,000 per month for a standard two-bedroom apartment.
What is the Minimum Wage in Malaysia?
The minimum wage in Malaysia is RM 1,200 per month. This is the lowest legal salary that employers can pay their employees. This is significantly lower than the median salary, and is rarely enough to cover basic living expenses.
What is the Average Salary in Malaysia?
The average salary in Malaysia is RM 5,814 per month, with the highest paid jobs in the finance and IT sectors. This figure is significantly higher than the median salary, and is a more accurate reflection of the average wages earned by most workers in the country.
What is the Minimum Wage for Skilled Workers in Malaysia?
The minimum wage for skilled workers in Malaysia is slightly higher than the minimum wage for unskilled workers. Skilled workers are entitled to a minimum wage of RM 1,500 per month. This is significantly higher than the minimum wage for unskilled workers, and is more reflective of the average salary earned by skilled workers in the country.
What is the Living Wage in Malaysia?
The living wage in Malaysia is RM 2,700 per month. This figure is calculated by taking into account the cost of basic living expenses, such as food and rent. This figure is significantly higher than the minimum wage and is a more accurate reflection of the salary needed to sustain a decent standard of living in the country.
What is Considered a Good Salary in Malaysia?
A good salary in Malaysia is considered to be above the living wage. This means that a salary of RM 3,000 per month or more is considered to be a good salary in Malaysia. This figure is significantly higher than the minimum wage and is enough to cover basic living expenses and provide a comfortable lifestyle.
What Other Factors Should I Consider When Negotiating Salary in Malaysia?
When negotiating salary in Malaysia, there are a few other factors that should be considered. These include:
- Experience: Your experience and qualifications will play a large role in determining your salary. The more experience and qualifications you have, the higher the salary you can expect.
- Location: Location is also a major factor in determining salary. Wages are typically higher in major cities such as Kuala Lumpur and Penang, as opposed to less populous areas.
- Industry: The industry you are working in will also affect your salary. Wages in the finance and IT sectors are typically higher than in other industries.
Conclusion
In conclusion, a ‘good salary’ in Malaysia is considered to be above the living wage of RM 2,700 per month. Other factors such as experience, location and industry should also be taken into account when negotiating salary.
With this information in mind, you should be able to make an informed decision about what a good salary is in Malaysia.