50% of Malaysians unable to earn minimum living wage (2024)

FAQs

What is the minimum income to live in Malaysia? ›

However, here are some general ballpark figures based on our survey and current economic trends: Kuala Lumpur: RM6,000 - RM12,000 per month (singles), RM12,000 - RM20,000 per month (families)

Malaysia's minimum wage of RM1,500 (≈$347 per month) is slightly higher than many of the countries that surround it. Malaysia's closest neighbor, Singapore does not have a national minimum wage. However, with the higher cost of living wages in Singapore are, on average, much higher than those in surrounding countries.

California's $16 hourly minimum wage may be much higher than a “poverty wage” by federal standards, but high housing costs still make it difficult for low-wage workers to make ends meet in the state, according to a new report by the nonpartisan Legislative Analyst's Office.

Opponents of raising the minimum wage believe that higher wages could lead to inflation, make companies less competitive, and result in job losses.

DOSM also highlighted that Malaysia's absolute poverty rate is at 6.2% in 2022. This is a decrease from the 8.2% recorded in 2021. This means that almost 6 out of 100 households in Malaysia still could not afford to meet basic needs for food.

A salary ranging between RM 6,590 and RM 17,600 per month is considered sufficient for a comfortable life in Malaysia. But, the definition of “good” may vary from person to person, depending on their standard of living, financial commitments, and other circ*mstances.

Malaysia's economic growth model has left workers earning less than enough to survive. PETALING JAYA: Salaries are low in Malaysia and it all boils down to a model of economic growth that suppresses wage increases. This model, according to an expert, has been enabled by policy and the institutional environment.

Contrary to popular belief, an increase in minimum wage curtails the increase in the unemployment rate. The Department of Statistics of Malaysia (DOSM) reported a stagnant unemployment rate coinciding with the year when the minimum wage was raised. The curtail in the unemployment rate is due to increase overtime costs.

The average monthly salary in Malaysia is approximately 6,610 MYR(1414 USD), according to SalaryExplorer, which sums up to about 79300 MYR (16971.64 USD) annually. This total includes such like housing, transport and any other benefits and the variation varies between the different careers.

Working for minimum wage does not give most people a living wage. Many states and cities have a higher minimum wage in place, more than double in some cases, but workers still struggle to make ends meet.

Is $15 an hour enough to live on? ›

“Most of us can't do the math in our heads. If we could, we'd realize that $15 an hour amounts to only $31,200 a year, assuming full-time work—about half of the U.S. median income and a painfully small amount for living and raising children in most American cities.” It can be painfully small outside of cities, too.

In many places, $15 per hour wouldn't be a sufficient living wage for a single person. Even without children, living wages in Hawaii and Washington D.C. are $19.43 and $20.49, respectively.

There's a divide between those who argue that increasing the minimum wage would reduce poverty and stimulate consumer spending and those who believe it could lead to higher unemployment and negatively impact small businesses and the economy.

In general, increasing the federal minimum wage would raise the earnings and family income of most low-wage workers and thus lift some families out of poverty—but doing so would cause other low-wage workers to become jobless, and their family income would fall.

With higher wages, millions of Americans would be closer to economic stability and peace of mind. Policymakers must work to raise the federal and state minimum wages to benefit workers; help employers attract and retain them; boost consumption spending; and stimulate local economies.

Do I Need to Obtain a Visa to Move to Malaysia? If you plan on staying in Malaysia for a period longer than 90 days (three months), you need to obtain a long-stay visa. Otherwise, you will not be allowed to stay in Malaysia.

Your budget should account for accommodation, travel, food, utilities, and other expenses. Without rent, the personal monthly expenses for a single individual are between MYR 100 - MYR 200. The estimated monthly cost of living in Malaysia for international students is MYR 1,500 or MYR 18,000 annually.

Additionally, the average monthly cost of living in Malaysia for international students is estimated to range from 1,200 to 2,500 MYR, which includes accommodation, food, transportation, entertainment, and health care.

Highly skilled professionals can apply for a permanent residence permit, under specific requirements. For instance, they should provide evidence they worked in a private company or Malaysian government agency for at least 3 years. Recommendations from relevant authorities are also accepted.