Basic Salary In Malaysia 2017

There is a tripartite body known as the national wages consultative council which is formed to recommend the minimum wages rate to the government and once approved by the government the minister of human resources makes a minimum wages order. Malaysia salary guide 2017 report for a human resources specialist in search of staff to hire or a professional in transition to a new job knowing about the malaysian job market and what salaries to expect for certain levels of qualification and diplomas will come in handy. Let s take into account the standard rm9 000 individual tax relief as well as a maximum relief of rm6 000 for epf contributions.

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Based on jobstreet malaysia s 2017 salary report salaries for entry level positions can start as low as rm800 to as high as rm5 533.

Basic salary in malaysia 2017. Malaysia s minimum wages policy is decided under the national wages consultative council act 2011 act 732. That s an annual income of rm55 000. Well according to the latest salaries wages survey report released by the department of statistics malaysia the average salary for malaysians is rm2 880 per month in 2017. Minimum wages in malaysia is expected to reach 1200 00 myr month by the end of 2020 according to trading economics global macro models and analysts expectations.

The average monthly salary steadily increased from around 1 8 thousand malaysian. But not all jobs are created equal. Say you are earning a rm40 000 per year salary you have a rm2 000 local bank interest income as well as rm13 000 from property rental income a year. Malaysia is one of the biggest and strongest economies of south east asia with a relatively low unemployment rate.

In the long term the malaysia minimum monthly wages is projected to trend around 1200 00 myr month in 2021 and 1300 00 myr month in 2022 according to our econometric models. On average however fresh graduates can expect a starting salary between rm1 800 to rm2 600. This is good news as it has risen by 8 from 2016.