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.
|Job Title||Average Salary|
|AML Analyst||10,100 MYR|
|Assistant Bank Branch Manager||8,710 MYR|
|Assistant Bank Manager||11,700 MYR|
|ATM Manager||10,200 MYR|
|ATM Service Technician||2,620 MYR|
|Bank Accounts Analyst||3,860 MYR|
|Bank Accounts Controller||5,100 MYR|
|Bank Accounts Executive||7,050 MYR|
|Bank Accounts Manager||8,430 MYR|
|Bank Auditing Manager||8,700 MYR|
|Bank Branch Manager||11,500 MYR|
|Bank Clerk||2,230 MYR|
|Bank Compliance Specialist||6,300 MYR|
|Bank Manager||14,300 MYR|
|Bank Operational Risk Manager||13,600 MYR|
|Bank Operations Head||13,700 MYR|
|Bank Operations Officer||5,540 MYR|
|Bank Operations Specialist||8,310 MYR|
|Bank Process Manager||7,900 MYR|
|Bank Product Manager||9,010 MYR|
|Bank Programme Manager||9,500 MYR|
|Bank Project Manager||11,300 MYR|
|Bank Propositions Manager||10,000 MYR|
|Bank Quantitative Analyst||7,220 MYR|
|Bank Regional Manager||14,200 MYR|
|Bank Regional Risk Officer||7,620 MYR|
|Bank Relationship Manager||10,700 MYR|
|Bank Relationship Officer||4,610 MYR|
|Banking Business Analyst||7,440 MYR|
|Banking Business Development Officer||4,510 MYR|
|Banking Business Planning Executive||9,980 MYR|
|Banking Product Manager||8,920 MYR|
|Banking Reference Data Manager||8,320 MYR|
|Banking Risk Analyst||6,960 MYR|
|Banking Technical Analyst||3,940 MYR|
|Bankruptcy Coordinator||5,100 MYR|
|Budget Analyst||7,400 MYR|
|Cards Marketing Manager||9,110 MYR|
|Cash Management Manager||13,000 MYR|
|Check Processing Manager||9,880 MYR|
|Commercial Vault Associate||7,020 MYR|
|Corporate Dealer||7,900 MYR|
|Credit Analyst||5,870 MYR|
|Credit and Collections Manager||9,500 MYR|
|Credit Card Fraud Investigator||7,510 MYR|
|Credit Portfolio Manager||13,300 MYR|
|Credit Risk Analyst||8,120 MYR|
|Credit Risk Associate||8,070 MYR|
|Direct Bank Sales Representative||5,300 MYR|
|Financial Bank Planning Consultant||9,680 MYR|
|Financial Banking Analysis Manager||10,600 MYR|
|Financial Banking Assistant||3,540 MYR|
|Financial Banking Systems Manager||10,400 MYR|
|Foreign Exchange Manager||10,400 MYR|
|Fraud Analyst||7,800 MYR|
|Fraud Detection Associate||5,300 MYR|
|Fraud Detection Manager||11,500 MYR|
|Fraud Detection Supervisor||6,590 MYR|
|Internal Bank Audit Manager||13,200 MYR|
|Internal Bank Auditor||7,240 MYR|
|International Banking Manager||14,300 MYR|
|Loan Analyst||7,180 MYR|
|Loan Area Manager||8,540 MYR|
|Loan Audit Team Leader||8,000 MYR|
|Loan Branch Manager||8,170 MYR|
|Loan Business Development Officer||4,540 MYR|
|Loan Clerk||2,470 MYR|
|Loan Collection Manager||8,620 MYR|
|Loan Collector||2,500 MYR|
|Loan Examiner||3,100 MYR|
|Loan Processing Manager||7,900 MYR|
|Loan Processor||3,400 MYR|
|Loan Quality Assurance Auditor||7,120 MYR|
|Loan Quality Assurance Manager||8,170 MYR|
|Loan Quality Assurance Representative||5,610 MYR|
|Loan Review Manager||7,890 MYR|
|Loan Team Leader||7,270 MYR|
|Mortgage Advisor||5,150 MYR|
|Mortgage Collection Manager||8,940 MYR|
|Mortgage Collector||2,330 MYR|
|Mortgage Credit Analyst||3,900 MYR|
|Mortgage Credit Manager||8,450 MYR|
|Mortgage Development Manager||9,020 MYR|
|Mortgage Document Reviewer||3,170 MYR|
|Mortgage Funding Manager||9,690 MYR|
|Mortgage Operations Manager||12,300 MYR|
|Mortgage Payment Processing Clerk||2,800 MYR|
|Mortgage Processing Manager||7,980 MYR|
|Mortgage Processor||3,230 MYR|
|Mortgage Quality Assurance Auditor||7,470 MYR|
|Mortgage Quality Assurance Manager||7,970 MYR|
|Mortgage Servicing Clerk||2,580 MYR|
|Mortgage Servicing Manager||8,420 MYR|
|Mortgage Underwriter||3,070 MYR|
|Online Banking Manager||12,500 MYR|
|Payment Processing Clerk||2,630 MYR|
|Personal Banker||5,350 MYR|
|Personal Banking Advisor||5,510 MYR|
|Phone Banker||3,480 MYR|
|Private Banker||5,510 MYR|
|Reconciliation and Investigation Specialist||5,940 MYR|
|Trade Officer||3,000 MYR|
|Trade Product Manager||8,860 MYR|
|Treasury Operations Officer||6,370 MYR|
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).
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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.
The average salary for Banking is 9% more than that of All Jobs.
|Johor Bahru||7,210 MYR|
|Kota Kinabalu||7,110 MYR|
|Kuala Lumpur||7,760 MYR|
|Petaling Jaya||7,540 MYR|
|Shah Alam||7,390 MYR|
|Subang Jaya||6,780 MYR|
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.