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Banking Average Salaries in Malaysia 2022

How much money does a person working in Banking make in Malaysia?


Average Monthly Salary
7,160 MYR
( 85,900 MYR yearly)

LOW
2,250
MYR
AVERAGE
7,160
MYR
HIGH
14,700
MYR

A person working in Banking in Malaysia typically earns around 7,160 MYR per month. Salaries range from 2,250 MYR (lowest average) to 14,700 MYR (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst10,100 MYR
Assistant Bank Branch Manager8,710 MYR
Assistant Bank Manager11,700 MYR
ATM Manager10,200 MYR
ATM Service Technician2,620 MYR
Bank Accounts Analyst3,860 MYR
Bank Accounts Controller5,100 MYR
Bank Accounts Executive7,050 MYR
Bank Accounts Manager8,430 MYR
Bank Auditing Manager8,700 MYR
Bank Branch Manager11,500 MYR
Bank Clerk2,230 MYR
Bank Compliance Specialist6,300 MYR
Bank Manager14,300 MYR
Bank Operational Risk Manager13,600 MYR
Bank Operations Head13,700 MYR
Bank Operations Officer5,540 MYR
Bank Operations Specialist8,310 MYR
Bank Process Manager7,900 MYR
Bank Product Manager 9,010 MYR
Bank Programme Manager9,500 MYR
Bank Project Manager11,300 MYR
Bank Propositions Manager10,000 MYR
Bank Quantitative Analyst7,220 MYR
Bank Regional Manager14,200 MYR
Bank Regional Risk Officer7,620 MYR
Bank Relationship Manager10,700 MYR
Bank Relationship Officer4,610 MYR
Banker5,000 MYR
Banking Business Analyst7,440 MYR
Banking Business Development Officer4,510 MYR
Banking Business Planning Executive9,980 MYR
Banking Product Manager8,920 MYR
Banking Reference Data Manager8,320 MYR
Banking Risk Analyst6,960 MYR
Banking Technical Analyst3,940 MYR
Bankruptcy Coordinator5,100 MYR
Budget Analyst7,400 MYR
Cards Marketing Manager9,110 MYR
Cash Management Manager13,000 MYR
Check Processing Manager9,880 MYR
Commercial Vault Associate7,020 MYR
Corporate Dealer7,900 MYR
Credit Analyst5,870 MYR
Credit and Collections Manager9,500 MYR
Credit Card Fraud Investigator7,510 MYR
Credit Portfolio Manager13,300 MYR
Credit Risk Analyst8,120 MYR
Credit Risk Associate8,070 MYR
Direct Bank Sales Representative5,300 MYR
Financial Bank Planning Consultant9,680 MYR
Financial Banking Analysis Manager10,600 MYR
Financial Banking Assistant3,540 MYR
Financial Banking Systems Manager10,400 MYR
Foreign Exchange Manager10,400 MYR
Fraud Analyst7,800 MYR
Fraud Detection Associate5,300 MYR
Fraud Detection Manager11,500 MYR
Fraud Detection Supervisor6,590 MYR
Internal Bank Audit Manager13,200 MYR
Internal Bank Auditor7,240 MYR
International Banking Manager14,300 MYR
Loan Analyst7,180 MYR
Loan Area Manager8,540 MYR
Loan Audit Team Leader8,000 MYR
Loan Branch Manager8,170 MYR
Loan Business Development Officer4,540 MYR
Loan Clerk2,470 MYR
Loan Collection Manager8,620 MYR
Loan Collector2,500 MYR
Loan Examiner3,100 MYR
Loan Processing Manager7,900 MYR
Loan Processor3,400 MYR
Loan Quality Assurance Auditor7,120 MYR
Loan Quality Assurance Manager8,170 MYR
Loan Quality Assurance Representative5,610 MYR
Loan Review Manager7,890 MYR
Loan Team Leader7,270 MYR
Mortgage Advisor5,150 MYR
Mortgage Collection Manager8,940 MYR
Mortgage Collector2,330 MYR
Mortgage Credit Analyst3,900 MYR
Mortgage Credit Manager8,450 MYR
Mortgage Development Manager9,020 MYR
Mortgage Document Reviewer3,170 MYR
Mortgage Funding Manager9,690 MYR
Mortgage Operations Manager12,300 MYR
Mortgage Payment Processing Clerk2,800 MYR
Mortgage Processing Manager7,980 MYR
Mortgage Processor3,230 MYR
Mortgage Quality Assurance Auditor7,470 MYR
Mortgage Quality Assurance Manager7,970 MYR
Mortgage Servicing Clerk2,580 MYR
Mortgage Servicing Manager8,420 MYR
Mortgage Underwriter3,070 MYR
Online Banking Manager12,500 MYR
Payment Processing Clerk2,630 MYR
Personal Banker5,350 MYR
Personal Banking Advisor 5,510 MYR
Phone Banker3,480 MYR
Private Banker5,510 MYR
Reconciliation and Investigation Specialist5,940 MYR
Teller2,580 MYR
Trade Officer3,000 MYR
Trade Product Manager8,860 MYR
Trader3,460 MYR
Treasury Operations Officer6,370 MYR

Banking Jobs Salary Distribution in Malaysia

Median and salary distribution monthly Malaysia Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Malaysia range from 2,250 MYR per month (minimum average salary) to 14,700 MYR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 7,450 MYR per month, which means that half (50%) of people working in Banking are earning less than 7,450 MYR while the other half are earning more than 7,450 MYR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 4,370 MYR while 75% of them are earning more than 4,370 MYR. Also from the diagram, 75% of people working in Banking are earning less than 11,500 MYR while 25% are earning more than 11,500 MYR.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Malaysia costs anywhere from 32,900 Malaysian Ringgit(s) to 98,800 Malaysian Ringgit(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Malaysia Banking
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Malaysia who work in Banking earn 7% more than their female counterparts on average.

Male
7,460 MYR
Female-6%
6,990 MYR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Malaysia for all Careers

Salary comparison by gender monthly Malaysia
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Banking Average Annual Salary Increment Percentage in Malaysia

How much are annual salary increments in Malaysia for Banking professionals? How often do employees get salary raises?

Banking

Banking professionals in Malaysia are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Malaysia Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Malaysia / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Malaysia is 6%.

Annual Increment Rate By Industry 2021

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Malaysia for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Malaysia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Malaysia Banking
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Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

21% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 79% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
79%
No Bonus
21%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Banking Hourly Average Wage in Malaysia


41 MYR per hour

The average hourly wage (pay per hour) in Malaysia is 41 MYR. This means that the average person in Malaysia earns approximately 41 MYR for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Malaysia
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Ampang6,510 MYR
Ipoh7,660 MYR
Johor Bahru7,210 MYR
Klang6,640 MYR
Kota Kinabalu7,110 MYR
Kuala Lumpur7,760 MYR
Kuching6,950 MYR
Petaling Jaya7,540 MYR
Shah Alam7,390 MYR
Subang Jaya6,780 MYR

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Malaysia earn 9% more than their private sector counterparts on average across all sectors.

Private Sector
6,310 MYR
Public Sector+9%
6,880 MYR
Percentage increase and decrease are relative to the previous value

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