Guys, what's a fair salary for someone around 24-25 years old? Is ~RM4k monthly gross pay (basic + pro-rated bonus) considered OK? Is it low/lower-mid/middle/upper-mid/high range?We're talking about local financial institution here.

TQ!

Eh, none of those. 1 yr working experience, no union.

What kind of salary is RM4k gross per month considered for that age range? Hard for me to find info on this.

This post has been edited by contestchris: Mar 15 2018, 11:27 PM

If your basic is RM2,400 and you have a prorated 13th month bonus salary equally divided to every month (meaning RM200 bonus)...that means your monthly gross take home is RM2,600.

Usually, when you go and negotiate with another company for a new job and you are comfortable with disclosing your current salary...will you say RM2600 or RM2400?

How will this usually be stated on the payslip every month?

RM2400 - salary
RM200 - bonus

OR

RM2600 - salary

This post has been edited by contestchris: Apr 1 2018, 10:13 PM

Guys, for monthly salary, do you take 13th month salary into account? For me, the 13th month salary is prorated every month. So if for example my pay rm2400, I get gross rm2600 monthly.

In such situation, what is my “monthly” salary folllowing normal convention?

What kind of role? Sales, cs, operations, analytics, risk, compliance, audit, credit, treasury?

I would assume RM4k would be a fair number...but not sure. Wait for others to chime in.

Share your info like others. Then we can comment

3yrs experience...your gross take home at ~RM4.75k...26 yrs old...I don't think this is underpaid. Better than a lot of people IRL (but of course not better than most in this thread, due to self-selection bias).

You need to jump bro. Finance in the early years, every one or two years...jump jump jump!!!

But make sure you have some competencies lah and understand the bigger picture of what you're doing (example, understand your industry be it commercial banking, investment banking, asset management, insurance etc).

I also start at a "standard" RM2.8k when I was aged 23. Then within a year later I got a job that paid >30% higher. But I really do have a passion for what I do and am able to see things on a bigger picture. So that definitely helped in getting something better for myself.

If I waited a few months I probably could get a near 50% jump but the company I joined is so amazing and I'm sure whatever I learn here will be of great help.

Job Title : Executive
Job Description : Risk Management
Age : 25
Years spent in company : 0.5 yrs
Industry: Finance
Tenure : Permanent
Employment Level : Executive
Experience before joining (years) : 1 yr
Highest paper qualification/ education background : Bachelor's Degree
Location : Kuala Lumpur
Average Working Hours Per Week (excl. lunch hours): 40 hrs
Basic Salary + Fixed Allowance: RM4,000/month
Benefits: 22 days AL, unlimited medical insurance coverage (individual), other misc benefits such as flexi hours, dental etc

-----------------

I love my work. I didn't do well in university at all (got a < 3.0) but I have a good job at a good company, with a really great team and the environment all around is positive.

Hey guys, curious abt something. If the basic is RM2,600 and there is a 13th month salary which is paid out every month (~RM200), what should the "monthly salary" be like for me?

Should it be RM2.6k or RM2.8k? Is it wrong if I say my monthly salary is RM2.8k?

TQ!

Banks still have a starting pay of RM2.8k. I moved after one year to another company in same line of work with a monthly pay of RM4.0k. Somehow I feel this is “low”. I’m 25 with slightly less than 2 yrs experience.

Current job is good but I’m just worried my salary is still too low. Can anyone comment if RM4.0k for two years experience is decent? Stay one more year and then move, or try to move now? I’m fairly confident I can get 30% increment at least.

Anyone can provide input on this pls. In my situation what will you do?

I'm on finance side in financial institution. Actually the RM4k was obtained after one year of working, if by the end of the second year I would have got an increment and it would be around RM4.3k.

Should be UOB as OCBC will not give 16% EPF off the bat, plus OCBC have a 13th month salary.

Pls be serious man. 3170 is good...some banks still starting at 2800. I did hop 3 months into my first job but it was not due to salary. I just wanted to do something that aligned to my longer term interests.

How are you a "pioneer" for actuarial science in Malaysia, when it's been established here for 10+ years, and there are 10+ universities currently offering it with a current student count of at least 5,000?

Well I know one of it is Sunway University, not sure about the other.

It's awesome you're so much more than a lecturer and have such a passion for the field. Great work and all the best!

Usually insurance companies have a reward program with auto increment for those on actuary track. Excluding promotions and normal increments, going from zero to fully qualified can get you anywhere between RM4-6k in increments (depending on your appraisals). If you start at RM3k, and say you earn RM5k in increments in getting fully qualified (every year RM1k, for simplicity), and then add with normal 5% annual increment and one 15% increment due to promotion...you at over RM10k liao after 5 years.

The early papers like Exam P ~RM200, the latter papers such as the FAP can be almost RM1k.

Studies fully sponsored and you get a week off for each paper!

This post has been edited by contestchris: Feb 14 2019, 12:15 AM

I believe with financial institutions, and possibly GLC and major conglomerates, where everything is structured and HR reigns supreme, it is impossible to choose to not disclose your salary. They will just move on to the next candidate. They also tend to have rules like max 30% increment. Yes, they can have exceptions, but exceptions are rare...less than 5% of new hires will come from the exception list.

To me, just don’t worry about the salary. Ask what you really want. Or 10% premium to that. Then go to the interview, excel and wait for their offer. If they lowball, reject outright respectfully. They will either say kthnxbai or come back with an improved offer. Key is...you need to have options. Do not be or appear desperate. And the most powerful negotiation tool you will ever have is the willingness to walk away. This is why it is important to continue interviewing periodically (say once a year) eve though you are happy in your current job. Cause then your negotiating hand is super powerful and this will show through during the interview as well.

This post has been edited by contestchris: Mar 6 2019, 07:09 PM

Don't consider age lah. Some people graduate and working at 21...by 26 of course they should be earning ~RM5k. Contrast with someone who graduated at 24...by 26 to earn RM3.5k is considered OK.

So yeah, more important than age is the years of experience.

How come you cannot live with anything below RM4K? I used to live under RM1k, even in the third year of my working (though granted I lived with my parents at the time).

Even say you have car installment RM600 and rent a good place at RM1.5k....that still comes up to RM3k only!