According to JobStreet’s Salary Guide 2023, though Malaysia’s job market is stabilising but median salaries across most sectors (97.3%) reporting no substantial changes from the previous year,
The computer & IT industry experienced the highest median salary growth, with a 28% increase from RM3,750 to RM4,800. Computer & IT specialist roles also have the highest median salary among all specialisations at RM6,000, according to the report released by Malaysia’s leading online employment platform operated by SEEK.
Despite a lower number of job advertisements within the industry, compensation for entry-level, senior executive and manager-level positions recorded year-on-year increases. This trend highlights the strong demand for entry-level IT professionals, which is driving up salaries despite a potentially challenging job market.
While computer & IT functions were the highest-paid specialisations, the corporate computer & IT industry experienced a high 57.4% salary growth – far surpassing the second-highest industry (communication service 7.7%). Conversely, SME professionals specialising in computer & IT experienced a 10.3% salary decrease.
JobStreet Malaysia managing director Vic Sithasanan said, “Malaysia’s heightened focus on digital transformation initiatives, spurred by the government’s ongoing push in this area, is likely the reason for this surge in demand for IT roles.”
He also added, “However, it’s also clear from the layoffs impacting major tech companies around the world earlier this year that this growth may not be sustainable in the long run. Ideally, educational reforms across Malaysia should be implemented to lay a solid foundation for producing more skilled IT specialists in the long term.”
The manufacturing industry is also experiencing some growth, posting the highest number of job advertisements for the second consecutive year, up 12.6% in 2023. This is in line with the industry’s steady, ongoing expansion – though salaries offered remained mostly unchanged.
Companies may also be expanding teams and turning their focus towards business growth and sales, as job advertisements for sales and marketing specialisations continued to surge, jumping 43.6% to mark over 76,000 job ads posted – 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%. Interestingly, the marketing and advertising industry saw a 2.2% net decrease in salary overall in comparison.
Meanwhile, the F&B sector recorded salary drops across all position levels, except for senior managers.
The report also examined salary changes by locations and found most cities saw salaries decline across most positions. Only Kuching experienced a 9.6% increase in median salary, while Putrajaya experienced no change at all. Positions in Kuantan were the most heavily affected, with a 29.4% salary drop. Overall, junior and non-executive roles experienced the highest decline.
