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 Jobs that have faster chance to get RM20k/mth?

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TSFinancier
post Apr 13 2019, 01:57 AM, updated 5y ago

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I come to a realization that Southeast Asia (SEA), particularly Malaysia is different from the rest of the world when it comes to jobs that pay high..and I mean really high..

In SEA, jobs that pay high is very different from the other geographical locations especially among developed countries..

What we traditionally thought of high paying jobs; Law, Accounting, Banking, Medicine, while allowing those practicing it to live comfortably with an above average paycheck, these jobs cannot make a person rich.

Meanwhile, jobs like Oil and Gas pays more than those aforementioned careers above, at least in Malaysia. An oil and gas engineer I spoke to earns around RM30-40k all in (base pay + allowance + miscellaneous) at an early age (say at 30).

If you compare to the previous careers I mentioned, a chartered accountant with ACCA only earns RM8-12k at that similar age. Same goes to lawyers and bankers i suspect.

So as a person living off paycheck to paycheck, what kind of jobs REALLY increases the chance for someone to earn big at an early age, if you exclude those who have successful business.

My list:

- Offshore Oil and Gas engineers
- Pilots
- ...

I can only think of two sadly..

Note: Please dont include successful entrepreneurs, ONLY salaried workers who exchange time and effort for money...

This post has been edited by Financier: Apr 13 2019, 01:59 AM
garlicpesto
post Apr 13 2019, 03:42 AM

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tishaban
post Apr 13 2019, 09:03 AM

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Ask yourself these questions

1. are you investing enough into learning your chosen field? Are you becoming the expert early enough in your career?

2. Are you spending time/effort/money to look into your big picture/strategic growth? This could mean learning related fields or investing in further education etc.

In other words go wide instead of just going deep. If you're in oil and gas engineering are you looking into how IoT might change production or what renewables are doing to the economics, or if you're in FSI do you learn how machine learning can help in compliance?

3. do you have the EQ for future growth and if not go back to question 2? Are you building up your own branding and taking the correct risks? When you have free time do you spend time on LYN biggrin.gif or are you mentoring people or writing articles on LinkedIn/Medium?

I have a friend in subsurface engineering, earning probably RM40-50k per month. He told me he took a pay cut to join McKinsey as a consultant, but the growth trajectory after a McKinsey exit is far different from just oil and gas.

Also wealth is more than just money, it's also your time, health, financial management, etc. Personal example, I work in the IT industry, focused deep on open source early in my career (question 1) then branched out into business management mid career (question 2) although still struggling to build my branding (question 3). I made roughly RM3m in the past 5 years or so as a salaried person, very happy with health/work life balance but could do far better with financial management (5% savings only, minimal investments biggrin.gif)

Good luck!

genryou
post Apr 13 2019, 09:43 AM

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QUOTE(tishaban @ Apr 13 2019, 09:03 AM)
Ask yourself these questions

1. are you investing enough into learning your chosen field? Are you becoming the expert early enough in your career?

2. Are you spending time/effort/money to look into your big picture/strategic growth? This could mean learning related fields or investing in further education etc.

In other words go wide instead of just going deep. If you're in oil and gas engineering are you looking into how IoT might change production or what renewables are doing to the economics, or if you're in FSI do you learn how machine learning can help in compliance?

3. do you have the EQ for future growth and if not go back to question 2? Are you building up your own branding and taking the correct risks? When you have free time do you spend time on LYN biggrin.gif or are you mentoring people or writing articles on LinkedIn/Medium?

I have a friend in subsurface engineering, earning probably RM40-50k per month. He told me he took a pay cut to join McKinsey as a consultant, but the growth trajectory after a McKinsey exit is far different from just oil and gas.

Also wealth is more than just money, it's also your time, health, financial management, etc. Personal example, I work in the IT industry, focused deep on open source early in my career (question 1) then branched out into business management mid career (question 2) although still struggling to build my branding (question 3). I made roughly RM3m in the past 5 years or so as a salaried person, very happy with health/work life balance but could do far better with financial management (5% savings only, minimal investments biggrin.gif)

Good luck!
*
^
This, read this OP, you shouldn't need further answer.

This post has been edited by genryou: Apr 13 2019, 09:44 AM
wywy2020
post Apr 13 2019, 10:13 AM

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QUOTE(Financier @ Apr 13 2019, 01:57 AM)
I come to a realization that Southeast Asia (SEA), particularly Malaysia is different from the rest of the world when it comes to jobs that pay high..and I mean really high..

In SEA, jobs that pay high is very different from the other geographical locations especially among developed countries..

What we traditionally thought of high paying jobs; Law, Accounting, Banking, Medicine, while allowing those practicing it to live comfortably with an above average paycheck, these jobs cannot make a person rich.

Meanwhile, jobs like Oil and Gas pays more than those aforementioned careers above, at least in Malaysia. An oil and gas engineer I spoke to earns around RM30-40k all in (base pay + allowance + miscellaneous) at an early age (say at 30).

If you compare to the previous careers I mentioned, a chartered accountant with ACCA only earns RM8-12k at that similar age. Same goes to lawyers and bankers i suspect.

So as a person living off paycheck to paycheck, what kind of jobs REALLY increases the chance for someone to earn big at an early age, if you exclude those who have successful business.

My list:

- Offshore Oil and Gas engineers
- Pilots
- ...

I can only think of two sadly..

Note: Please dont include successful entrepreneurs, ONLY salaried workers who exchange time and effort for money...
*
How about design engineer for oil n gas onshore office based. How much they earn a month? The same to project manager of oil and gas project.
thurtin
post Apr 15 2019, 04:23 PM

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QUOTE(Financier @ Apr 13 2019, 01:57 AM)
I come to a realization that Southeast Asia (SEA), particularly Malaysia is different from the rest of the world when it comes to jobs that pay high..and I mean really high..

In SEA, jobs that pay high is very different from the other geographical locations especially among developed countries..

What we traditionally thought of high paying jobs; Law, Accounting, Banking, Medicine, while allowing those practicing it to live comfortably with an above average paycheck, these jobs cannot make a person rich.

Meanwhile, jobs like Oil and Gas pays more than those aforementioned careers above, at least in Malaysia. An oil and gas engineer I spoke to earns around RM30-40k all in (base pay + allowance + miscellaneous) at an early age (say at 30).

If you compare to the previous careers I mentioned, a chartered accountant with ACCA only earns RM8-12k at that similar age. Same goes to lawyers and bankers i suspect.

So as a person living off paycheck to paycheck, what kind of jobs REALLY increases the chance for someone to earn big at an early age, if you exclude those who have successful business.

My list:

- Offshore Oil and Gas engineers
- Pilots
- ...

I can only think of two sadly..

Note: Please dont include successful entrepreneurs, ONLY salaried workers who exchange time and effort for money...
*
According to official stats from EPF, only 3% out of the estimated 14.5 million working Malaysians make more than RM10,000 a month. SOS

If you believe in data, basic analysis of this is saying that the system and odds are already against you in the first place. Yes, there are jobs that pay higher than the usual jobs, but expect the odds to be even lower when you are competing against so many other people who are probably better if not just as good as you for the same small pool of jobs.

There are so many tips and advice out there to help you go further in your career so I won't go into any of them. I don't believe there is a magic formula that fits everyone anyways.

You should focus on what is your passion, what you are good at and work the hell out of it. You might be surprised at what you can achieve in the end. Good luck.







Topace111
post Apr 16 2019, 10:36 AM

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If you don’t include bonus/ commission into the equation, I will exclude investment bankers as their AVPs/SMs can easily reach those figures in their 30s.

Purely basic salary, you have to find non-sales or back-end jobs which tend to have higher base but lower bonuses.

You have to find MNCs as they have no issue paying you more. Look for those that treat Malaysia as a hub rather than a full-ranged centres which tend to normalise the remuneration range.

To reach 20k, you need to be either a specialist, people manager or project manager. Either of the 3 skills will carry you far.

TSFinancier
post Apr 16 2019, 10:42 AM

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QUOTE(Topace111 @ Apr 16 2019, 10:36 AM)
If you don’t include bonus/ commission into the equation, I will exclude investment bankers as their AVPs/SMs can easily reach those figures in their 30s.

Purely basic salary, you have to find non-sales or back-end jobs which tend to have higher base but lower bonuses.

You have to find MNCs as they have no issue paying you more. Look for those that treat Malaysia as a hub rather than a full-ranged centres which tend to normalise the remuneration range.

To reach 20k, you need to be either a specialist, people manager or project manager. Either of the 3 skills will carry you far.
*
Hmm not sure if I can agree with you with Investment bankers... IB in Malaysia is not as attractive and active, and deal flows are generally slow. If yourr talking about bankers in USA or Europe or Hong Kong, Singapore, yes they earn a fat paycheck..but Malaysia..im skeptical they earn as much..
DuFfz
post Apr 16 2019, 10:57 AM

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QUOTE(tishaban @ Apr 13 2019, 09:03 AM)
Ask yourself these questions

1. are you investing enough into learning your chosen field? Are you becoming the expert early enough in your career?

2. Are you spending time/effort/money to look into your big picture/strategic growth? This could mean learning related fields or investing in further education etc.

In other words go wide instead of just going deep. If you're in oil and gas engineering are you looking into how IoT might change production or what renewables are doing to the economics, or if you're in FSI do you learn how machine learning can help in compliance?

3. do you have the EQ for future growth and if not go back to question 2? Are you building up your own branding and taking the correct risks? When you have free time do you spend time on LYN biggrin.gif or are you mentoring people or writing articles on LinkedIn/Medium?

I have a friend in subsurface engineering, earning probably RM40-50k per month. He told me he took a pay cut to join McKinsey as a consultant, but the growth trajectory after a McKinsey exit is far different from just oil and gas.

Also wealth is more than just money, it's also your time, health, financial management, etc. Personal example, I work in the IT industry, focused deep on open source early in my career (question 1) then branched out into business management mid career (question 2) although still struggling to build my branding (question 3). I made roughly RM3m in the past 5 years or so as a salaried person, very happy with health/work life balance but could do far better with financial management (5% savings only, minimal investments biggrin.gif)

Good luck!
*
Good advice. But my question to you sifu, until when you want to be a salary man?
Harry_Bobinski
post Apr 16 2019, 11:29 AM

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Branch out for your business la. I work as a salaried man but on my free time I work as a freelance M&E consultant and currently building my own app with a friend of mine. But I sacrifice my work/life/balance. You can definitely get more than 20k if you work hard enough.

Topace111
post Apr 18 2019, 10:23 AM

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QUOTE(Financier @ Apr 16 2019, 10:42 AM)
Hmm not sure if I can agree with you with Investment bankers... IB in Malaysia is not as attractive and active, and deal flows are generally slow. If yourr talking about bankers in USA or Europe or Hong Kong, Singapore, yes they earn a fat paycheck..but Malaysia..im skeptical they earn as much..
*
True if you compared to SG & HK as they are regional hubs. However, IB here still command larger bonus than average market. In addition, most corporation desire IB staff. Most companies are creating their internal IB dept (Ie: CF/ M&A). Guess where these staffs come from. You can just easily check linkedin.

You can also check Robert walters salary survey for other professions.

Redshelf411
post Apr 20 2019, 04:05 PM

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Offshore pays high but remember you'd be bored AF working offshore. And the risk???

Same thing for pilot, high stress pulak.
Stamp
post Apr 23 2019, 01:50 PM

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QUOTE(Financier @ Apr 13 2019, 01:57 AM)
I come to a realization that Southeast Asia (SEA), particularly Malaysia is different from the rest of the world when it comes to jobs that pay high..and I mean really high..

In SEA, jobs that pay high is very different from the other geographical locations especially among developed countries..

What we traditionally thought of high paying jobs; Law, Accounting, Banking, Medicine, while allowing those practicing it to live comfortably with an above average paycheck, these jobs cannot make a person rich.

Meanwhile, jobs like Oil and Gas pays more than those aforementioned careers above, at least in Malaysia. An oil and gas engineer I spoke to earns around RM30-40k all in (base pay + allowance + miscellaneous) at an early age (say at 30).

If you compare to the previous careers I mentioned, a chartered accountant with ACCA only earns RM8-12k at that similar age. Same goes to lawyers and bankers i suspect.

So as a person living off paycheck to paycheck, what kind of jobs REALLY increases the chance for someone to earn big at an early age, if you exclude those who have successful business.

My list:

- Offshore Oil and Gas engineers
- Pilots
- ...

I can only think of two sadly..

Note: Please dont include successful entrepreneurs, ONLY salaried workers who exchange time and effort for money...
*
It's not the same now for oil&gas. Salaries for oil&gas ppl have shrunk or remained constant for the past 3-4 years. Not many people think that the glory days for oil&gas (at least in Malaysia) would return any soon or at the same level a decade ago. It's similar to the glory decade of the 90s where the country was growing at a rate close to 10% each year and each public new listing in KLSE would surely double its offer price at the end of its first day of trading, until the financial meltdown in 98. Things have not been that rosy since then.

This post has been edited by Stamp: Apr 23 2019, 01:51 PM
Belphegor
post Apr 24 2019, 01:25 AM

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QUOTE(Financier @ Apr 16 2019, 10:42 AM)
Hmm not sure if I can agree with you with Investment bankers... IB in Malaysia is not as attractive and active, and deal flows are generally slow. If yourr talking about bankers in USA or Europe or Hong Kong, Singapore, yes they earn a fat paycheck..but Malaysia..im skeptical they earn as much..
*
my ex company financial controller earn at least 30k per month.
silverwave
post Apr 24 2019, 10:10 AM

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QUOTE(tishaban @ Apr 13 2019, 09:03 AM)
Ask yourself these questions

1. are you investing enough into learning your chosen field? Are you becoming the expert early enough in your career?

2. Are you spending time/effort/money to look into your big picture/strategic growth? This could mean learning related fields or investing in further education etc.

In other words go wide instead of just going deep. If you're in oil and gas engineering are you looking into how IoT might change production or what renewables are doing to the economics, or if you're in FSI do you learn how machine learning can help in compliance?

3. do you have the EQ for future growth and if not go back to question 2? Are you building up your own branding and taking the correct risks? When you have free time do you spend time on LYN biggrin.gif or are you mentoring people or writing articles on LinkedIn/Medium?

I have a friend in subsurface engineering, earning probably RM40-50k per month. He told me he took a pay cut to join McKinsey as a consultant, but the growth trajectory after a McKinsey exit is far different from just oil and gas.

Also wealth is more than just money, it's also your time, health, financial management, etc. Personal example, I work in the IT industry, focused deep on open source early in my career (question 1) then branched out into business management mid career (question 2) although still struggling to build my branding (question 3). I made roughly RM3m in the past 5 years or so as a salaried person, very happy with health/work life balance but could do far better with financial management (5% savings only, minimal investments biggrin.gif)

Good luck!
*
May i ask, how did you make that jump from IT industry to business management with zero experience? Was there some transferable skills or it's through recommendation/contact?
twiteroll
post Apr 24 2019, 10:18 AM

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tishaban
post Apr 24 2019, 10:24 AM

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QUOTE(silverwave @ Apr 24 2019, 10:10 AM)
May i ask, how did you make that jump from IT industry to business management with zero experience? Was there some transferable skills or it's through recommendation/contact?
*
It's not zero experience, I've always volunteered to do stuff. Even as an analyst I was doing departmental budgets and planning. In depth technical knowledge allowed me to work with vendors better, learning and volunteering for tasks outside my core responsibilities allowed me to link the technical, business and relationships together.

If you have zero experience, try volunteering for a task or ask to shadow someone who's already doing it. Good luck

silverwave
post Apr 24 2019, 11:17 AM

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QUOTE(tishaban @ Apr 24 2019, 10:24 AM)
It's not zero experience, I've always volunteered to do stuff. Even as an analyst I was doing departmental budgets and planning. In depth technical knowledge allowed me to work with vendors better, learning and volunteering for tasks outside my core responsibilities allowed me to link the technical, business and relationships together.

If you have zero experience, try volunteering for a task or ask to shadow someone who's already doing it. Good luck
*
That's a good tip, thanks for sharing biggrin.gif
hz428
post Apr 25 2019, 11:05 PM

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QUOTE(Financier @ Apr 13 2019, 01:57 AM)
I come to a realization that Southeast Asia (SEA), particularly Malaysia is different from the rest of the world when it comes to jobs that pay high..and I mean really high..

In SEA, jobs that pay high is very different from the other geographical locations especially among developed countries..

What we traditionally thought of high paying jobs; Law, Accounting, Banking, Medicine, while allowing those practicing it to live comfortably with an above average paycheck, these jobs cannot make a person rich.

Meanwhile, jobs like Oil and Gas pays more than those aforementioned careers above, at least in Malaysia. An oil and gas engineer I spoke to earns around RM30-40k all in (base pay + allowance + miscellaneous) at an early age (say at 30).

If you compare to the previous careers I mentioned, a chartered accountant with ACCA only earns RM8-12k at that similar age. Same goes to lawyers and bankers i suspect.

So as a person living off paycheck to paycheck, what kind of jobs REALLY increases the chance for someone to earn big at an early age, if you exclude those who have successful business.

My list:

- Offshore Oil and Gas engineers
- Pilots
- ...

I can only think of two sadly..

Note: Please dont include successful entrepreneurs, ONLY salaried workers who exchange time and effort for money...
*
TS, working in O&G sure give u handsome pay but there is a drawback, which u are dealing with explosive matter, or exposure to toxic fumes which may damage your cells ( sperm ) or worst case, cancer at old age.

Money can buy alot of things, but cant buy time and health.
gd luck ts
ketupatlazat
post May 3 2019, 11:18 PM

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QUOTE(twiteroll @ Apr 24 2019, 10:18 AM)
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Yup

Just make sure to pass those exams n modules, get fellowship and jump around when there's opportunity to be the team head.

 

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