5 High Paying Jobs in Malaysia That Will Earn You Better Money

Malaysia’s last minimum wage increase, from RM 1,100 to RM 1,200 back in February 2020, was a welcome relief for workers when the Covid-19 pandemic hit. But was it enough? It seems the current RM 55,000 average yearly salary of Malaysian professionals leaves something to be desired. More talents are expected to change jobs or move companies this year as a result of the rising cost of living and a general eagerness for change after two years of working from home. And since salary is still a determining factor in candidates’ career choices, perhaps it is time to review your chances at some of the highest paying careers in Malaysia.

Short of going back to graduate school (for jobs in healthcare and law, for example), many fresh graduates and executives alike may still be up for the challenge of switching job roles or even forging entirely new career paths in other industries. Below are several senior-level high salary jobs that may inspire you to make that move.

(Read more: Chase Your Dreams Without Going Broke 7 Smart Ways to Manage Finances)

High paying jobs in Malaysia you should know about

1. Head of Banking

A career in banking is highly rewarding in Malaysia, with banking chiefs earning between RM 350,000 to RM 390,000 per year. And that is no surprise because this high-risk job entails being responsible for large amounts of funds and investments.

Mid-level bank managers that handle the day-to-day operations of bank branches earn anywhere from RM 82,500 to RM 99,500 a year, depending on their years of experience and whether they are involved in commercial or corporate banking.

A degree in finance or accounting is immensely helpful if you decide to pursue a new role in banking. Major analytical, bookkeeping, and interpersonal skills will also be beneficial. However, it is not uncommon for graduates of other fields to climb the ladder, starting at junior-level roles of bank teller, mortgage assistant, or customer service advisor.

2. Chief Executive Officers

CEOs take home a whopping RM 14,700 per month on average. Because of the enormous responsibility of ensuring the success of an entire organisation, the heads of Malaysia’s top corporations can even earn up to RM 600,000 per year.

This role requires extraordinary leadership skills. Chief Executive Officers need to be able to solve problems rapidly under pressure while managing and communicating effectively with the entire organisation. Future CEOs will have years to learn and hone these skills within their company, as it is still common for employers to promote C-suite roles internally from among their pool of executives.

One career path to consider is that of an administrative executive. In this role, you are uniquely positioned to learn leadership and management skills directly from seasoned executives. Another track would be through the role of sales executive, where you will gain valuable experience with one of the most essential components of a company — its revenue.

(Read more: 7 Effective Salary Negotiation Tips To Get The Pay You Deserve)

3. Chief Finance Officer

As the head of an organisation’s financial operations, the CFOs of Malaysia’s largest companies can command up to RM 600,000. But by and large, the senior-level pay for heads of finance is generally rewarding, whether you choose to join a multinational corporation or a startup. On average, their take-home salary is RM 13,700.

Candidates that pay meticulous attention to detail will do well in this field. Decision-making skills and the ability to analyse trends and forecasts are also highly-prized in this role. However, honesty and integrity are expected of Chief Finance Officers above all else.

Financial auditor and financial reporting analysts are excellent high salary jobs for mid-level candidates who would like to get on the CFO track.

4. College Professors

Also on the list of highest paying Malaysian jobs for 2022 is college professor. Depending on the length of tenure and the size of the school he is affiliated with, a college-level educator can take home a sizable RM 11,800 per month on average.

Communication skills are par for the course. But college professors must also have multitasking and time management skills, as their role often goes beyond teaching. Senior professors are typically expected to take on other tasks such as research, writing, and sometimes, administrative work as well.

If you happen to have extensive training in education, you may want to consider applying as a teaching assistant at any of Malaysia’s numerous universities and colleges. Kindergarten teachers may also look forward to a less-high paying but equally fulfilling career in education.

5. Marketing Directors

Last on the list of the top high salary jobs in Malaysia is a role that earns a monthly average of RM 8,820. A marketing director takes leadership of the marketing department within a company, managing its strategic efforts, ensuring the team meets its campaign targets, as well as maintaining communication with clients.

A bachelor’s degree in marketing is generally required of candidates for marketing head, although it is not uncommon for graduates of other related fields to be promoted to this position. Along with other crucial leadership skills, marketing directors must be able to stay in touch with current industry trends.

Newbies and freshers who want to break into the industry may consider applying as marketing interns. If you would like to stand out at your job interview, try to bring something new to the table with some digital skills and experience in the field of content marketing.

(Read more: 7 Important Skills For The Digital Marketer Of The Future)

Other high salary jobs in Malaysia

Nothing for you in the high paying jobs in Malaysia above? Here are the rest of the careers that made it to the top 10 list:

• Surgeons/Doctors (RM 24,000/month)
• Judges (RM 20,000/month)
• Lawyers (RM 16,700/month)
• Orthodontists (RM 13,200/month)
• Pilots (RM 9,800/month)

As an alternative, you may also consider shifting to these industries that experienced the most salary growth in Malaysia in 2021:

• Telecommunications
• Insurance
• Banking & Finance
• Electrical/Electronics
• Oil & Gas
• Consulting
• Property & Real Estate
• Consumer Goods
• Chemicals
• Science & Technology

For a more comprehensive look on salary information in Malaysia, download the Salary Report 2022 here.

Summary

All in all, things are looking up for Malaysian workers in 2022. The Ministry of Human Resources is expecting a rise in the minimum wage to around RM 1,500 per month by the end of the year. The Malaysian job market recorded an overall salary growth of 3.2% last year, signalling a shifting of the tides.

But for more immediate results, taking action is key. Explore your options in other job roles or industries. Take inspiration from the high paying jobs in Malaysia above. Who knows, you may find your dream job in the most unexpected places. 

(Read more: Know Your Worth: 7 Salary Calculators Tools to Compute Your Earnings)

Plan out your career journey with JobStreet’s Career Tools. Before you reenter the Malaysian jobs market, make sure you hit the ground running by updating your profile now. And while you are at it, search for #JobsThatMatter on the website and app. Visit the Career Resources page for more ideas and inspiration.