February 24, 2024

We are creating some awesome events for you. Kindly bear with us.

Projected rise in tech salaries for 2019 to boost Malaysia’s digital ambitions

According to a recent report, the salaries of Malaysian employees have been projected to increase by 5.2% in 2019, according to the survey. This marks a slight increase from 2018 where salaries were found to increase by 5.0%.

The survey noted that wages in Malaysia are increasing faster than in Singapore (3.8% in 2018) and in line with Thailand where salaries increased by 5.2% in 2018.

The company that commissioned and carried out the survey also noted that the Malaysia economy is expected to remain resilient amid volatility in global financial markets and oil prices, including worries of the rising trade conflict between its largest trading partners (China and the United States). A GDP growth of 5.0% has been projected in 2019.

The Managing Director of at the company’s Malaysia and Philippines branch noted that in the midst of growing economy and steady salary increases, employers must rework their compensation packages to ensure they can continue to attract and retain the best talent in Malaysia.

The MD added that an organisation’s best performers are often able to command premium pay – and ultimately, play key roles in driving strong business results.

Additionally, the survey found that fresh graduates working in tech and engineering-related fields, as well as professionals with specialist skill sets, enjoy a pay premium above the general industry average.

Fresh graduates in the engineering, telecommunications and high-tech industries take home a premium of 12.1%, 21.3% and 23.0% respectively, with engineering and project design roles offering the highest starting salaries at over RM 3,500 a month.

Meanwhile, those working in IT services and e-commerce roles are paid 5.7% and 6.5% above the general industry average.

Professionals with specialist skill sets such as legal managers also enjoy pay premiums, taking home 16% more than the market average.

Concurrently, employers are also looking at key attributes such as innovation, critical problem-solving, and strong business acumen.

This is demonstrated by the pay premiums in the engineering and tech-related industries. For example, project managers in those industries earn 7% more than the market average, while planning and business development managers take home 9% more.

The Practice Lead at the company’s Malaysian arm noted that as Malaysia’s economy grows, employers must look to align their rewards practices with those of developed economies. Performance-driven rewards systems have become the norm, and productivity bonuses, sales incentives, and long-term incentives (LTI) are increasingly prevalent among Malaysian employers. These must be backed by fair performance assessment processes and robust corporate governance.

This news is in line with the country’s efforts to drive technology and innovation this year.

An earlier report by OpenGov Asia noted that the next decade of innovation will take the nation into the next era of Human-Machine Partnerships, wherein global tech experts predict that technology will impact the future of living, work and the economy.

Moreover, as members of the Gen Z population get ready to enter the workforce, those in charge of hiring them to expect these digital natives, with their nuanced and universal understanding of technology and its potential to transform how we work and live, lead the charge in driving Malaysia’s tech efforts.

Coupled with the news of the salary increase as incentives, 2019 is expected to be a good year for the Malaysian economy. The tech and engineering-related sectors, specifically, are poised the benefit from this as a result of the government’s efforts to channel resources and talent into these sectors.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend