Average monthly salary of employees in Malaysia 2019, by age group

In 2019, Malaysian employees between the ages of 55 to 59 years old earned the highest average monthly salary, at around 4.14 thousand Malaysian ringgit. With a retirement age of just 60 years old, Malaysian workers could look forward to earning the highest salary of their career right before retiring.

Economic outlook

Malaysia is one of the biggest and strongest economies of South-East Asia, with a relatively low unemployment rate. The average monthly salary steadily increased from around 1.8 thousand Malaysian ringgit in 2010 to around 3.2 thousand Malaysian ringgit in 2019. Employees with a university degree could expect to earn almost twice as much.

Can wages keep up with the cost of living?

However, when seen in the context of rising living costs, wages in Malaysia have not been able to keep up. Despite having a relatively low inflation rate, and the removal of the unpopular six percent goods and services tax by the Pakatan Harapan government in 2018, food costs in Malaysia have not gone down. The high cost of foodstuff is a financial strain on low-income households, who spent close to 40 percent of their income on food. In January 2019, Malaysia increased the minimum wage in the private sector to RM 1,100 monthly, or RM 5.29 hourly, in the hopes of easing the financial burdens of the bottom 40 percent.

Average monthly salary of employees in Malaysia in 2019, by age group

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Source

Release date

September 2020

Region

Malaysia

Survey time period

2019

Special properties

figures are for are Malaysian citizens

Supplementary notes

1 Malaysian ringgit is equal to 0.24 U.S. dollars and 0.20 euros as of October 2020.

Average refers to the mean salary.

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