Fresh graduates in engineering-related and research and development fields earn the most, according to the Aon Hewitt Malaysia survey.
KUALA LUMPUR: More than half of fresh graduates entering employment earn less than RM2,500 per month.
Fresh graduates in Engineering, R&D and Project Management are earning the most – being paid more than RM3,500 per month, according to the latest survey from Aon Hewitt Malaysia.
Malaysian employers are expected to continue paying a premium for jobs in high-tech and engineering-related fields this year.
The Aon Hewitt Malaysia 2016 Total Compensation Measurement Survey also shows that high-tech industries paid fresh graduates 27% more than property and construction last year.
Salary increases declined by 0.4% to 5.2% in 2016, compared with the previous year, said the survey report by the global talent, retirement, and health solutions business of Aon plc.
The decline in salary increases translates to real wages diminishing for the Malaysian workforce, says the report.
As a result, employers are being pressured to rework their compensation packages to engage their talent more effectively this year.
The report predicts that performance-driven reward systems will become the norm.
The gulf in pay for specialised talent will also shape the way employee demographics are structured in the future of work.
The survey also found that strategic planners in managerial positions earned RM2,500 more than all other managers across functions in Malaysia.
Finance managers in the high-tech industry were paid 16% more than the market midpoint, while human resources managers received 21% more.
This is further evidence, the report states, that this industry as a whole more readily invests in their people as an invaluable asset to the organisation.
Aon Hewitt Malaysia managing director Prashant Chadha said: “Fresh graduates, while inexperienced, are digital natives who possess relevant skills in today’s market, and will be key to success in the future of work.
“Furthermore, these economically challenging times have placed great pressure on Malaysian businesses to redefine their talent needs. The workforce demographic is being reshaped year on year, and employers don’t hesitate to pay for critical talent.”
Original source: Free Malaysia Today
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