Highest salary growth in IT sector, says Jobstreet
Published on: Wednesday, September 20, 2023
By: FMT
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JobStreet says the IT industry’s median salary growth jumped by 28% over the past 12 months, from RM3,750 to RM4,800.
PETALING JAYA: The IT industry is the employment sector with the highest median salary growth, while Malaysia’s job market is stable overall, employment portal JobStreet said.
In a salary guide analysis, JobStreet said IT industry median salary growth jumped by 28% over the past 12 months, from RM3,750 to RM4,800.
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IT specialists also have the highest median salary of RM6,000.
“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,” JobStreet managing director Vic Sithasanan said in a statement.
However, he said the growth may not be sustainable in the long run, as major tech companies around the world are laying off staff this year.
“Ideally, educational reforms across Malaysia should be implemented to lay a solid foundation to producing more skilled IT specialists in the long term,” he said.
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JobStreet also said the country’s labour market is stabilising, with 97.3% of job listings offering a similar level of salary to that of last year.
In June, Malaysian Industrial Development Finance Bhd (MIDF) predicted that the labour market in Malaysia would continue to improve throughout the year, thanks to the ongoing positive momentum in the domestic economy and the moderate growth in external sectors.
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MIDF Research expected the unemployment rate in the country to decrease to 3.5%, which is 0.2% higher than the pre-pandemic level.
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