Tough Living On A Fresh Graduate’s Pay In Malaysia
KUALA LUMPUR, 14 April 2013 - JobStreet.com recently conducted a survey to see how fresh graduates were coping with the cost of living in Malaysia.
The majority of fresh graduates surveyed informed that their average basic salary per month is RM2, 500 and most struggle to make ends meet. 77% said that their salary does not leave them with any savings after spending on essentials. When asked what these essentials were, 63% of the respondents said that car and study loans were their major commitments. With fuel prices becoming increasingly expensive, they mentioned that transportation cost is also among their top expenses.
63% of respondents said they spend an average of RM1, 500 per month from their salary on these essential expenditures. To save cost, nearly half of the fresh graduates surveyed live with their parents, 30% rent out with their friends and only 20% stay on their own.
The survey also showed that 87% of respondents did not have any other income besides their salary. This is why most fresh graduates ask for higher than average salary during job interviews. 60% said they expect a salary of RM3, 500 for their first job while 30% even expected to be paid as high as RM6, 500 as their starting pay in order to live comfortably.
However 66% of employers when polled in the JobStreet.com survey said that they were only prepared to offer fresh graduates a starting salary of between RM2, 500 and RM2, 800 depending on their qualifications and the job requirements.
To cope with the increasing cost of living, it is no surprise that fresh graduates are always on the lookout for a new job with a higher salary. This creates the high turnover experienced by companies who hire fresh graduates.
Note: A total of 2,062 fresh graduates across various industries in Malaysia participated in this survey conducted in March 2014.
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About JobStreet.com
JobStreet.com ( www.jobstreet.com ) is a leading online recruitment company presently covering the employment markets in Malaysia, Singapore, Philippines, Indonesia, Japan, and Vietnam. The Group currently services over 230,000 corporate customers and over 13 million jobseekers in its database. JobStreet.com is listed on the Main Board of Bursa Malaysia Securities (JOBST).
Media Contacts:
Debby Ho
Sr. Marketing Manager
JobStreet.com
Tel:03-21760482 Fax: 03-26987200
For more information about this news release, or to schedule an interview with JobStreet.com, please email Junie Lim at [email protected]
