HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Banking Average Salaries in Kuala Lumpur 2024

How much money does a person working in Banking make in Kuala Lumpur?


Average Monthly Salary
7,800 MYR
( 93,600 MYR yearly)

LOW
2,440
MYR
AVERAGE
7,800
MYR
HIGH
15,900
MYR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Banking in Kuala Lumpur typically earns around 7,800 MYR. Salaries range from 2,440 MYR (lowest average) to 15,900 MYR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in Kuala Lumpur exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Banking
AML Analyst11,500 MYR
Assistant Bank Branch Manager9,870 MYR
Assistant Bank Manager13,100 MYR
ATM Manager11,300 MYR
ATM Service Technician2,850 MYR
Bank Accounts Analyst4,160 MYR
Bank Accounts Collector2,710 MYR
Bank Accounts Controller5,420 MYR
Bank Accounts Executive8,160 MYR
Bank Accounts Manager9,600 MYR
Bank Auditing Manager9,330 MYR
Bank Branch Manager13,300 MYR
Bank Branch Operations Coordinator5,830 MYR
Bank Clerk2,560 MYR
Bank Client Service Associate3,700 MYR
Bank Collector2,760 MYR
Bank Compliance Specialist7,100 MYR
Bank Manager15,200 MYR
Bank Operational Risk Manager14,800 MYR
Bank Operations Head15,000 MYR
Bank Operations Officer6,280 MYR
Bank Operations Specialist9,630 MYR
Bank Process Manager8,470 MYR
Bank Product Manager 9,710 MYR
Bank Programme Manager10,800 MYR
Bank Project Manager12,700 MYR
Bank Propositions Manager11,300 MYR
Bank Quantitative Analyst8,060 MYR
Bank Regional Manager16,200 MYR
Bank Regional Risk Officer8,470 MYR
Bank Relationship Manager12,100 MYR
Bank Relationship Officer5,310 MYR
Bank Sustainability Analyst8,830 MYR
Bank Teller2,700 MYR
Banker5,640 MYR
Banking Business Analyst8,190 MYR
Banking Business Development Officer4,880 MYR
Banking Business Planning Executive11,600 MYR
Banking Data Analyst9,200 MYR
Banking Product Manager9,660 MYR
Banking Reference Data Manager9,200 MYR
Banking Regulatory Compliance Officer9,590 MYR
Banking Risk Analyst8,020 MYR
Banking Technical Analyst4,200 MYR
Bankruptcy Coordinator5,810 MYR
Bill and Account Collector2,860 MYR
Blockchain Analyst7,210 MYR
Blockchain Architect7,690 MYR
Blockchain Auditor6,920 MYR
Blockchain Compliance Analyst7,250 MYR
Blockchain Consultant7,720 MYR
Blockchain Trade Facilitator6,520 MYR
Budget Analyst8,250 MYR
Capital Risk Manager15,700 MYR
Cards Marketing Manager9,820 MYR
Cash Management Manager13,900 MYR
Check Processing Manager10,400 MYR
Chief Blockchain Officer8,830 MYR
Commercial Vault Associate7,610 MYR
Corporate Banker5,710 MYR
Corporate Dealer8,740 MYR
Credit Analyst6,520 MYR
Credit and Collections Manager10,400 MYR
Credit Card Fraud Investigator8,090 MYR
Credit Portfolio Manager15,200 MYR
Credit Risk Analyst8,750 MYR
Credit Risk Associate8,530 MYR
Cryptocurrency Accountant5,130 MYR
Cryptocurrency Adviser10,100 MYR
Cryptocurrency Analyst7,680 MYR
Cryptocurrency Compliance Manager9,680 MYR
Cryptocurrency Trader7,960 MYR
Digital Banking Manager11,200 MYR
Digital Currency Analyst7,990 MYR
Direct Bank Sales Representative5,630 MYR
Exchange Control Consultant8,360 MYR
Executive Account Analyst8,280 MYR
Financial Bank Planning Consultant10,800 MYR
Financial Banking Analysis Manager12,100 MYR
Financial Banking Assistant3,970 MYR
Financial Banking Systems Manager11,500 MYR
Foreign Exchange Manager11,300 MYR
Fraud Analyst8,800 MYR
Fraud Detection Associate5,680 MYR
Fraud Detection Manager12,900 MYR
Fraud Detection Supervisor6,970 MYR
Internal Bank Audit Manager15,000 MYR
Internal Bank Auditor8,080 MYR
Internal Private Banker5,860 MYR
International Banking Manager15,700 MYR
Investment Banking Analyst11,500 MYR
Loan Analyst8,140 MYR
Loan Area Manager9,840 MYR
Loan Audit Team Leader9,210 MYR
Loan Branch Manager9,260 MYR
Loan Business Development Officer5,070 MYR
Loan Clerk2,720 MYR
Loan Collection and Recovery Manager9,490 MYR
Loan Collection Manager9,340 MYR
Loan Collector2,630 MYR
Loan Examiner3,560 MYR
Loan Officer3,020 MYR
Loan Processing Manager8,910 MYR
Loan Processor3,780 MYR
Loan Quality Assurance Auditor7,790 MYR
Loan Quality Assurance Manager8,800 MYR
Loan Quality Assurance Representative5,960 MYR
Loan Review Manager9,130 MYR
Loan Team Leader8,280 MYR
Loans Manager10,500 MYR
Mortgage Advisor5,780 MYR
Mortgage Collection Manager9,890 MYR
Mortgage Collector2,530 MYR
Mortgage Credit Analyst4,180 MYR
Mortgage Credit Manager8,930 MYR
Mortgage Development Manager10,400 MYR
Mortgage Document Reviewer3,590 MYR
Mortgage Funding Manager10,800 MYR
Mortgage Operations Manager14,100 MYR
Mortgage Payment Processing Clerk3,160 MYR
Mortgage Processing Manager8,780 MYR
Mortgage Processor3,500 MYR
Mortgage Quality Assurance Auditor8,290 MYR
Mortgage Quality Assurance Manager8,720 MYR
Mortgage Servicing Clerk2,750 MYR
Mortgage Servicing Manager8,870 MYR
Mortgage Underwriter3,310 MYR
Online Banking Manager13,500 MYR
Open Banking Strategist8,400 MYR
Payment Processing Clerk2,800 MYR
Personal Banker6,010 MYR
Personal Banking Advisor 5,850 MYR
Phone Banker3,950 MYR
Private Banker5,800 MYR
Reconciliation and Investigation Specialist6,400 MYR
Tax Officer4,700 MYR
Teller2,860 MYR
Trade Officer3,380 MYR
Trade Product Manager9,840 MYR
Trader3,780 MYR
Treasury Operations Officer6,900 MYR
Wealth Management Advisor11,300 MYR


Banking Jobs Pay Scale and Salaries in Kuala Lumpur

Median and salary distribution Kuala Lumpur Banking monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/malaysia/kuala-lumpur/banking/median-and-salary-distribution-monthly-kuala-lumpur-banking.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
7,680 MYR or more
10% of people earn
6,360 to 7,680 MYR
20% of people earn
3,450 MYR or less
65% of people earn
3,450 to 6,360 MYR
Minimum Salary
2,440 MYR
Median
6,860 MYR
Maximum
15,900 MYR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Banking in Kuala Lumpur range from 2,440 MYR (starting average salary) to 15,900 MYR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 6,860 MYR, implying that half of the workforce in Kuala Lumpur earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in Kuala Lumpur earn less than 5,130 MYR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 8,440 MYR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in Kuala Lumpur. The analysis revealed that roughly 65% of all reported salaries fell within the range of 3,450 MYR to 6,360 MYR. Approximately 20% of salaries were below the 3,450 MYR mark, while 10% ranged from 6,360 MYR to 7,680 MYR. Only 5% of individuals earned a gross salary of 7,680 MYR or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

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 in Banking in Kuala Lumpur 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.


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.
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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

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.

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 degree levels across many jobs in Banking in Kuala Lumpur, 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 certificate 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 33,100 MYR to 99,200 MYR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Banking / Kuala Lumpur

Salary comparison by gender Malaysia Banking monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/malaysia/banking/salary-comparison-by-gender-monthly-malaysia-banking.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Banking in Malaysia, the average difference between the salary of male and female employees is 7%.

Male
7,510 MYR
Female-6%
7,030 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/malaysia/salary-comparison-by-gender-monthly-malaysia.jpg

Average Annual Salary Increment Percentage / Banking / Kuala Lumpur

How much are annual salary increments in Kuala Lumpur for individuals working in Banking? How often do employees get salary raises?

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

Annual Salary Increment Rate Malaysia Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/malaysia/banking/annual-salary-increment-rate-malaysia-banking.jpg


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

Annual Salary Increment Rate Malaysia
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/malaysia/annual-salary-increment-rate-malaysia.jpg

The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Banking / Malaysia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Malaysia Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/malaysia/banking/annual-salary-bonus-rate-malaysia-banking.jpg

100% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

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

Received Bonus
%
No Bonus
100%

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.

Hourly Average Wage / Banking / Kuala Lumpur


45 MYR per hour

The average hourly wage (pay per hour) in Banking in Kuala Lumpur is 45 MYR.This is the rate they get paid for every worked hour.


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

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Banking in Kuala Lumpur is 14 MYR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Ampang6,550 MYR
Ipoh7,700 MYR
Johor Bahru7,260 MYR
Klang6,680 MYR
Kota Kinabalu7,150 MYR
Kuala Lumpur7,800 MYR
Kuching7,000 MYR
Petaling Jaya7,590 MYR
Shah Alam7,430 MYR
Subang Jaya6,820 MYR

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Malaysia is 9% on average across all career fields.

Private Sector
6,340 MYR
Public Sector+9%
6,900 MYR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Banking in Kuala Lumpur?

A good and competitive compensation would range anywhere between 6,860 MYR and 8,440 MYR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Banking in Kuala Lumpur ranges from 2,440 MYR to 5,130 MYR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


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

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison Arabic

©Salary Explorer 2024