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Financial Manager Average Salary in Kuala Lumpur 2024

How much money does a person working as Financial Manager make in Kuala Lumpur?


Average Monthly Salary
13,900 MYR
( 166,000 MYR yearly)

LOW
6,800
MYR
AVERAGE
13,900
MYR
HIGH
21,600
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 as Financial Manager in Kuala Lumpur typically earns around 13,900 MYR. Salaries range from 6,800 MYR (lowest) to 21,600 MYR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Financial Manager salaries in Kuala Lumpur vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Financial Manager Pay Scale and Salaries in Kuala Lumpur

Median and salary distribution Kuala Lumpur Financial Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
12,900 MYR or more
10% of people earn
11,400 to 12,900 MYR
20% of people earn
8,060 MYR or less
65% of people earn
8,060 to 11,400 MYR
Minimum Salary
6,800 MYR
Median
12,900 MYR
Maximum
21,600 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 for the position Financial Manager in Kuala Lumpur range from 6,800 MYR (starting salary) to 21,600 MYR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 12,900 MYR, half of the professionals who work as Financial Manager in Kuala Lumpur earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Financial Manager in Kuala Lumpur earn less than 10,600 MYR, while 75% earn more. Similarly, the chart shows that 75% earn less than 14,800 MYR while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Financial Manager in Kuala Lumpur compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 8,060 MYR to 11,400 MYR. About 20% of salaries are below the 8,060 MYR mark, while 10% fall within the range of 11,400 MYR to 12,900 MYR. Only 5% of individuals have salaries exceeding 12,900 MYR.

Salary Comparison by Years of Experience / Financial Manager / Kuala Lumpur

How do experience and age affect pay?

0 - 2 Years
8,060 MYR
2 - 5 Years+29%
10,400 MYR
5 - 10 Years+38%
14,300 MYR
10 - 15 Years+24%
17,700 MYR
15 - 20 Years+7%
19,000 MYR
20+ Years+7%
20,200 MYR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Kuala Lumpur Financial Manager
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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. We broke down salaries by experience level for people working as Financial Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 8,060 MYR.

While someone with an experience level between two and five years is expected to earn 10,400 MYR, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 14,300 MYR, 38% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 17,700 MYR, 24% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 19,000 MYR, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 20,200 MYR, 7% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Financial Manager / Kuala Lumpur

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Financial Manager.

Certificate or Diploma
10,400 MYR
Bachelor's Degree+34%
13,900 MYR
Master's Degree+53%
21,300 MYR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Kuala Lumpur Financial Manager
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Financial Manager in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 10,400 MYR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 13,900 MYR, 34% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 21,300 MYR, 53% more than the previous level.



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.

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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Financial Manager / Kuala Lumpur

Salary comparison by gender Malaysia Financial Manager monthly
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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? For the people who work as Financial Manager in Malaysia, the average difference between the salary of male and female employees is 5%.

Male
13,000 MYR
Female-5%
12,300 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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Average Annual Salary Increment Percentage / Financial Manager / Kuala Lumpur

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

Individuals working as Financial Manager 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 Financial Manager
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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

Annual Salary Increment Rate Malaysia
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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
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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 / Financial Manager / Malaysia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Malaysia Financial Manager
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100% of surveyed staff 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.

Average Hourly Wage / Financial Manager / Kuala Lumpur


80 MYR per hour

The average hourly wage (pay per hour) for individuals working as Financial Manager in Kuala Lumpur is 80 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 as Financial Manager in Kuala Lumpur is 39 MYR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner3,970 MYR-71%
Account Executive6,300 MYR-55%
Accountant5,160 MYR-63%
Accounting Analyst6,090 MYR-56%
Accounting Assistant4,100 MYR-70%
Accounting Associate3,890 MYR-72%
Accounting Clerk3,140 MYR-77%
Accounting Coordinator4,760 MYR-66%
Accounting Head9,980 MYR-28%
Accounting Manager10,600 MYR-24%
Accounting Officer3,740 MYR-73%
Accounting Specialist6,930 MYR-50%
Accounting Supervisor6,940 MYR-50%
Accounting Technician3,780 MYR-73%
Accounting Unit Controller8,430 MYR-39%
Accounts Executive6,700 MYR-52%
Accounts Officer4,070 MYR-71%
Accounts Payable and Receivable Specialist5,280 MYR-62%
Accounts Payable Assistant4,180 MYR-70%
Accounts Payable Associate4,520 MYR-67%
Accounts Payable Clerk3,770 MYR-73%
Accounts Payable Manager10,200 MYR-26%
Accounts Receivable Administrator7,860 MYR-43%
Accounts Receivable Clerk3,890 MYR-72%
Accounts Receivable Financial Analyst7,220 MYR-48%
Accounts Receivable Manager10,300 MYR-26%
Accounts Receivable Team Leader7,290 MYR-47%
Algorithmic Trading Specialist9,130 MYR-34%
Assistant Accountant4,140 MYR-70%
Assistant Accounting Manager9,490 MYR-32%
Assistant Auditor5,270 MYR-62%
Assistant Corporate Controller7,290 MYR-47%
Assistant Finance Manager10,700 MYR-23%
Assistant Financial Controller7,180 MYR-48%
Audit Director12,300 MYR-11%
Audit Supervisor9,460 MYR-32%
Auditing Clerk4,070 MYR-71%
Auditing Manager10,300 MYR-26%
Billing Clerk4,100 MYR-70%
Billing Coordinator4,490 MYR-68%
Billing Specialist5,530 MYR-60%
Billing Supervisor7,960 MYR-43%
Bookkeeper3,480 MYR-75%
Bookkeeping Specialist5,150 MYR-63%
Budget Analyst9,220 MYR-34%
Budget Manager10,100 MYR-27%
Business Support Analyst5,950 MYR-57%
Capital Markets Associate7,650 MYR-45%
Cash Flow Analyst7,540 MYR-46%
Cash Management Manager10,000 MYR-28%
Cash Management Officer5,910 MYR-57%
Cashbook Clerk3,490 MYR-75%
Chartered Accountant6,670 MYR-52%
Chief Accountant7,390 MYR-47%
Chief Financial Technology Officer10,800 MYR-22%
Collections Clerk3,290 MYR-76%
Collections Representative4,530 MYR-67%
Collections Specialist5,200 MYR-63%
Corporate Controller8,040 MYR-42%
Corporate Treasurer9,750 MYR-30%
Cost Accountant4,960 MYR-64%
Cost Accounting Manager10,300 MYR-26%
Cost Accounting Supervisor8,150 MYR-41%
Cost Analyst8,370 MYR-40%
Credit and Collection Manager9,820 MYR-29%
Credit and Collection Staff4,000 MYR-71%
Credit and Loans Officer3,850 MYR-72%
Credit Controller7,110 MYR-49%
Credit Manager11,300 MYR-19%
Debt Adviser8,920 MYR-36%
Debt Collector3,990 MYR-71%
Debtors Clerk3,700 MYR-73%
Debtors Controller3,740 MYR-73%
Deputy CFO13,900 MYR+0%
Deputy Head of Finance14,300 MYR+3%
Derivative Trader8,640 MYR-38%
Director of Finance16,000 MYR+15%
E-commerce Accountant5,170 MYR-63%
Economist12,300 MYR-11%
Equity Analyst9,090 MYR-34%
Escrow Assistant4,440 MYR-68%
Executive Accountant6,010 MYR-57%
External Auditor7,080 MYR-49%
Finance Administrator5,990 MYR-57%
Finance Analyst9,580 MYR-31%
Finance Associate4,530 MYR-67%
Finance Data Analyst8,030 MYR-42%
Finance Director15,600 MYR+12%
Finance Executive10,700 MYR-23%
Finance Licensing Clerk3,670 MYR-74%
Finance Licensing Manager9,850 MYR-29%
Finance Licensing Specialist5,670 MYR-59%
Finance Manager15,000 MYR+8%
Finance Officer4,930 MYR-64%
Finance President16,000 MYR+15%
Finance Relationship Manager11,600 MYR-16%
Finance Release Analyst6,060 MYR-56%
Finance Specialist8,150 MYR-41%
Finance Team Leader 11,900 MYR-14%
Financial Accountant5,020 MYR-64%
Financial Actuary8,000 MYR-42%
Financial Administrator8,710 MYR-37%
Financial Advisor9,080 MYR-35%
Financial Analyst9,770 MYR-30%
Financial Applications Specialist6,390 MYR-54%
Financial Assistant4,180 MYR-70%
Financial Associate4,850 MYR-65%
Financial Claims Analyst7,160 MYR-48%
Financial Claims Manager9,610 MYR-31%
Financial Claims Supervisor8,190 MYR-41%
Financial Clerk3,780 MYR-73%
Financial Commercial Analyst7,630 MYR-45%
Financial Compliance Analyst8,360 MYR-40%
Financial Compliance Officer7,990 MYR-42%
Financial Consultant7,000 MYR-50%
Financial Controller8,370 MYR-40%
Financial Coordinator4,820 MYR-65%
Financial Customer Service Manager9,080 MYR-35%
Financial Data Scientist9,530 MYR-31%
Financial Dealer and Broker5,780 MYR-58%
Financial Director15,300 MYR+10%
Financial Encoder4,270 MYR-69%
Financial Manager13,800 MYR-0%
Financial Modelling Analyst9,340 MYR-33%
Financial Operations Manager12,800 MYR-8%
Financial Policy Analyst7,910 MYR-43%
Financial Project Manager10,700 MYR-23%
Financial Quantitative Analyst8,640 MYR-38%
Financial Reporting Consultant7,630 MYR-45%
Financial Reporting Manager9,750 MYR-30%
Financial Section Head10,000 MYR-28%
Financial Services Manager12,800 MYR-8%
Financial Services Sales Agent5,720 MYR-59%
Financial Technology Consultant8,300 MYR-40%
Financial Wellness Coach11,000 MYR-21%
FinTech Analyst8,470 MYR-39%
Fixed Assets Administrator5,230 MYR-62%
Forensic Accountant5,840 MYR-58%
Fraud Detection Supervisor6,220 MYR-55%
Fraud Prevention Manager10,500 MYR-24%
Fund Accountant4,980 MYR-64%
Grants Coordinator4,000 MYR-71%
Green Finance Analyst7,980 MYR-42%
Group Financial Manager15,500 MYR+12%
Internal Auditor6,860 MYR-51%
Internal Control Adviser7,940 MYR-43%
Internal Control Officer4,470 MYR-68%
International Tax Director11,900 MYR-14%
Inventory Accountant5,360 MYR-61%
Investment Advisor14,100 MYR+2%
Investment Analyst10,600 MYR-24%
Investment Associate8,780 MYR-37%
Investment Broker8,260 MYR-40%
Investment Fund Manager11,800 MYR-15%
Investment Operations Manager11,100 MYR-20%
Investment Underwriter4,580 MYR-67%
Investor6,610 MYR-52%
Investor Relations Manager10,500 MYR-24%
KYC Team Leader10,400 MYR-25%
Loan Processor4,080 MYR-71%
Management Accountant5,600 MYR-60%
Management Economist12,100 MYR-13%
Paymaster4,260 MYR-69%
Payroll Administrator6,990 MYR-50%
Payroll Benefits Coordinator5,520 MYR-60%
Payroll Billing Manager9,270 MYR-33%
Payroll Clerk4,690 MYR-66%
Payroll Manager9,030 MYR-35%
Payroll Officer4,490 MYR-68%
Payroll Specialist5,440 MYR-61%
Payroll Supervisor6,400 MYR-54%
Pensions Administrator5,500 MYR-60%
Personal Financial Advisor7,550 MYR-46%
Pricing Analyst8,190 MYR-41%
Private Equity Analyst9,600 MYR-31%
Project Accountant5,690 MYR-59%
Proposal Development Coordinator4,620 MYR-67%
Quantitative Trader7,500 MYR-46%
Receivables Accountant4,690 MYR-66%
Regulatory Accountant5,920 MYR-57%
Retirement Plan Analyst8,040 MYR-42%
Revenue Management Specialist8,490 MYR-39%
Revenue Recognition Analyst9,520 MYR-31%
Risk Management Director12,800 MYR-8%
Risk Management Supervisor10,700 MYR-23%
Staff Accountant5,000 MYR-64%
Tax Accountant4,920 MYR-65%
Tax Administrator5,580 MYR-60%
Tax Advisor8,000 MYR-42%
Tax Analyst8,120 MYR-41%
Tax Associate4,490 MYR-68%
Tax Consultant8,580 MYR-38%
Tax Director11,500 MYR-17%
Tax Examiner5,450 MYR-61%
Tax Manager10,100 MYR-27%
Tax Research Manager10,300 MYR-26%
Teller3,050 MYR-78%
Treasury Accountant5,410 MYR-61%
Treasury Analyst8,800 MYR-37%
Underwriter3,630 MYR-74%
Underwriting Assistant3,460 MYR-75%
Vice President of Finance13,800 MYR-0%

Salary Comparison By City

CityAverage Salary
Johor Bahru13,100 MYR
Kuala Lumpur13,900 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 for the job title Financial Manager in Kuala Lumpur?

A good and competitive compensation would range anywhere between 12,900 MYR and 14,800 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 a careers like Financial Manager in Kuala Lumpur ranges from 6,800 MYR to 10,600 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


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