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In 2024, Malaysian employees between the ages of 45 and 49 years old earned the highest average monthly salary, at  Malaysian ringgit. With a retirement age of just 60 years old, Malaysian workers could look forward to earning more monthly average wage starting from around 40 years old. 

Economic outlook

Malaysia is one of the biggest and strongest economies of South-East Asia, with a relatively low unemployment rate. The average monthly salary steadily increased from Malaysian ringgit in 2014 to  Malaysian ringgit in 2024. Employees with a university degree could expect to earn almost twice as much.

Can wages keep up with the cost of living?

However, when seen in the context of rising living costs, wages in Malaysia have not been able to keep up. Despite having a relatively low inflation rate, prices have still gone up. Malaysians spent more than ** percent of their income on housing and food. In May 2022, the Malaysian government increased the minimum wage to 1,500 Malaysian ringgit monthly, or 7.21 Malaysian ringgit hourly, in the hopes of easing the financial burdens of its citizens.