Good salary in Malaysia | FAQ (2024)

FAQs

How much salary is good enough in Malaysia? ›

On average, junior executives can earn a salary range from RM 3,000 to RM 4,500, with the average being RM 3,400 across all industries. Most specialisations in Malaysia's junior executive level list of best-paying jobs are in the technical field.

In general 10K RM is quite enough. But if you want to live in high society, if you want expense more, if you need to lead 3 or more family members then its not enough. After all 10K RM salary is pretty good.

RM2,500 to RM4,000 will get you further, and anything above RM5,000 will afford you a pretty comfortable life in KL. Read all about Living & Working in Malaysia.

Kuala Lumpur is a good city to work and live peacefully except for the humid climate. In regards to your question, yes 12000 ringgit p.m. is sufficient for a expat couple to work and live comfortably covering all the needs.

For more insight on this, read the full guide to apartment hunting in Kuala Lumpur. On average, I would estimate my living expenses including housing, utilities, and transportation for central living are about 3000-3500 MYR ($700-$815 USD) per month.

What is the Minimum Salary to Pay Income Tax in Malaysia for Individual? Individuals who earn a minimum of RM34,000 (approximately RM2,833 per month or RM3,000 net income after EPF deductions) from all sources of income, including but not limited to salary, must register for a tax file.

Median wealth of adult population in Malaysia 2014-2019

In 2019, the median wealth per adult in Malaysia was at around 8.9 thousand U.S. dollars. In that year, 53.4 percent of the adult population had wealth valued at under ten thousand U.S. dollars.

Is 5k salary high in Malaysia? ›

It is a very high salary for Malaysia at your age, but the COL here is getting quite high, especially if you want to transport your current lifestyle here.

25-34 years old group average wages were 12% lower than the overall average. Specifically, the average wages (RM1,659) for this age group were 45% smaller than the overall mean (RM3,037).

Originally Answered: Is 5,000 Malaysian ringgit a month enough to have a decent life in Kuala Lumpur? More than enough. If your life almost similar during your university year, even better. It the best time to save your money.

From the point of view as Malaysian, RM8,000 is a very good salary. Since your company also provide food, accommodation and transportation, most likely you can save your whole salary into bank, after deduct entertainment fees and other expenses.

If you are living modestly, 7000 monthly is a huge sum. You can even save up for your kid's future studies (please do. Tertiary study fees are a killer in Malaysia too).

Is 6000 RM a good salary for an expat having 3 years of experience in Malaysia? TL;DR: RM6,000 is not bad. But you can get a much better offer. If that's the max you can get.

Want to live in Malaysia? A luxury lifestyle and low living costs are the main attractions for expats moving to Malaysia. Other advantages include a highly developed infrastructure and excellent healthcare, along with superb shopping facilities and delicious local cuisine.

An individual, whether tax resident or non-resident in Malaysia, is taxed on any income accruing in or derived from Malaysia.

How much money do you need to retire in Kuala Lumpur? ›

Applicants over 50 years of age require a fixed deposit of about $35,000 USD (150,000 RM) in a local bank or $70,000 USD (300,000 RM) per couple. After two years, 40 percent of this could be withdrawn to buy a house, car, pay for medical expenses or pay for education.

Housing Costs in Malaysia

Though Kuala Lumpur is the most expensive city in the country, housing is extremely affordable compared to the U.S. It costs about 74.5% less to rent an apartment in Kuala Lumpur than it does to rent in the United States.

The UNHDP Report shows that the richest 10% in Malaysia control 38.4% of the economic income as compared to the poorest 10% who control only 1.7%.

The country remains trapped in a middle income economy today, Rafizi said, even as he noted Malaysia's closeness to joining the list of nations with a high per capita income.

Surrounded by nature and a breathtaking view to boot, the residents of Taman Duta are privy to plenty of upscale choices – from shopping to healthcare, education, lifestyle, and more. Coupled with easy access to the Kuala Lumpur City Centre, this neighbourhood is every millionaire's dream come true.

Malaysia's Global Ranking

Kuala Lumpur ranks well in the most important quality of life factor, having a 57% lower daily cost of living than some US cities such as San Francisco.

Where do the rich people in Malaysia stay? ›

Bukit Tunku is home to Malaysia's elite, with mansions and bungalows costing in the milions of Ringgit dotted around this affluent neighbourhood. The area routinely features in the most expensive property transactions in Malaysia, with average transactions often topping the RM25 million price range.

Aim to save at least 10% of your income every month before you spend. Raise your savings as and when you receive extra income, e.g. when you receive a bonus. Keep your money in a fixed deposit account. With higher interest compared to a savings account, your savings will grow faster.

RM25,000 monthly is a good salary in Kuala Lumpur. But then again it depend on your lifestyle. If u have moderate taste in everything then what you get is a luxury. Yes definitely.

Average RM 2,939 per month.

In the long-term, the Malaysia Wages is projected to trend around 3670.00 MYR/Month in 2023 and 3920.00 MYR/Month in 2024, according to our econometric models.

Gross pay: Gross pay is the income after adding allowances to the basic salary but excluding taxes and other deductions. For example, an employee earning 2,000 MYR (477.73 USD) per month means that their gross pay is 2,000 MYR, including bonuses, holiday pay, overtime, etc.

Taxation rates vary from country to country. Income taxes in Malaysia are “territorial,” which means an individual or entity is taxed only on incomes earned in the country. Personal income taxes are categorised either as progressive or flat, depending on one's type of work and tenure in Malaysia.

If you make RM 120,000 a year living in Malaysia, you will be taxed RM 25,963. That means that your net pay will be RM 94,037 per year, or RM 7,836 per month.

Which city is cheapest to live in Malaysia? ›

Which country is cheaper? Overall Thailand is a cheaper country than Malaysia for travel. We already mentioned that accommodation for families in Malaysia tends to be a little bit more expensive accommodation in Thailand for families. Overall, Malaysia is a more expensive country than Thailand.

With the average life expectancy of a Malaysian at 74 years old, and retirement age at 60 year old, your retirement fund should be able to last at least 14 years. If you spread RM1 million over a 14-year retirement, it only comes up to about RM71,428 a year or RM5,952 a month.

Foreigners with a non-resident status are subjected to a flat taxation rate of 28%, this means that the tax percentage will remain the same no matter the amount of income. As a non-resident you're are also not eligible for any tax deductions.

RM 15,000 per month is more than enough for local Malaysians. Our average income is around RM 4,000 per month I think and for a family of four living in Central Malaysia (Kuala Lumpur, Putrajaya, Cyberjaya and other developed cities in Selangor), RM 4,000 might be a little tight.

Average Daily Costs

While meal prices in Malaysia can vary, the average cost of food in Malaysia is RM87 per day. Based on the spending habits of previous travelers, when dining out an average meal in Malaysia should cost around RM35 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

Paragraph 16(d) categorises as a HNWI, an individual whose total net investment portfolio (whether personally, or jointly with his or her spouse), in any capital market products exceeds RM1 million or its equivalent in foreign currencies.

Family of four estimated monthly costs are 1,680.2$ (7,492.0RM) without rent. A single person estimated monthly costs are 478.2$ (2,132.4RM) without rent. Cost of living in Malaysia is, on average, 53.1% lower than in United States. Rent in Malaysia is, on average, 78.9% lower than in United States.

Malaysia Annual Household Income per Capita reached 5,131.896 USD in Dec 2020, compared with the previous value of 5,761.586 USD in Dec 2019. Malaysia Annual Household Income per Capita data is updated yearly, available from Dec 2002 to Dec 2020, with an averaged value of 4,426.922 USD.

How much savings should I have at 35 Malaysia? ›

Saving 15% of income per year (including any employer contributions) is an appropriate savings level for many people. Having one to one-and-a-half times your income saved for retirement by age 35 is an attainable target for someone who starts saving at age 25.