Average monthly salary of employees in Malaysia 2022, by age group
In 2022, Malaysian employees between the ages of 45 to 49 years old earned the highest average monthly salary, at around 4.13 thousand Malaysian ringgit. With a retirement age of just 60 years old, Malaysian workers could look forward to earning more monthly average wage starting from around 40 years old.
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 three thousand Malaysian ringgit in 2022. 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, prices have still gone up. Malaysians spentmore than 40 percent of their income on housing and food. In May 2022, the Malaysian government increased the minimum wage to 1,500 Malaysian ringgit monthly, or 7.21 Malaysian ringgit hourly, in the hopes of easing the financial burdens of its citizens.
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 three thousand Malaysian ringgit in 2022. 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, prices have still gone up. Malaysians spentmore than 40 percent of their income on housing and food. In May 2022, the Malaysian government increased the minimum wage to 1,500 Malaysian ringgit monthly, or 7.21 Malaysian ringgit hourly, in the hopes of easing the financial burdens of its citizens.
