Research by JobStreet Malaysia has revealed that the Computer & IT industry has 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.
The job search platform says that the emphasis and demand for IT professionals comes as no surprise, as the digital economy continues to grow in Malaysia.
In their latest Salary Guide 2023, they found that Malaysia’s job market is now stabilising, with median salaries across most sectors (97.3%) reporting no substantial changes from the previous year.
Despite a lower number of job ads within the industry, compensation for entry level, senior executive, and manager level positions all 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.
JobStreet Malaysia
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%).
However, small and medium enterprise (SME) professionals specialising in Computer & IT experienced a 10.3% salary decrease.
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. 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 to producing more skilled IT specialists in the long-term.
JobStreet Malaysia Managing Director Vic Sithasanan
