No major change in salaries

THERE has been no substantial change in median salaries across most sectors of the economy from the previous year even though the cost of living keeps rising due to inflationary factors.

This is a major concern and corporations will face challenges in hiring quality talent.

For Malaysians, financial compensation and work-life balance are top deal-breakers when accepting a job. This is in line with what job seekers around the world want.

However, Malaysians do put more emphasis on retirement benefits and paid time off, according to the JobStreet Malaysia Salary Guide 2023.

Since the digital economy is booming, industries such as information technology (IT) and computer have seen year-on-year increases in median salary growth.

But the food and beverage industry experienced salary drops across different positions. Entry-level positions start barely above the minimum wage at RM1,600.

It said the computer and IT industry saw the highest median salary growth, with a 28% increase from RM3,750 to RM4,800.

Computer and IT specialist roles also have the highest median salary among all specialisations at RM6,000.

In terms of job ads, sales and marketing specialisations continued to skyrocket, jumping 44% to mark over 76,000 job ads posted, which is the highest across all specialisations for the second consecutive year.

Entry-level positions in particular for sales and marketing specialisations showed the highest growth at 20%. In comparison, the marketing and advertising industry saw a 2.2% net decrease in salary overall.

It added that the insurance industry is among the top-three highest paid for both small and medium enterprises (SMEs) and corporates, with SMEs paying slightly higher at RM5,250 versus RM5,150.

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