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Current Finance salaries in KL
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TSflying_manatee
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 Oct 26 2021, 01:58 PM, updated 4y ago
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Getting Started
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So I found this from an old thread circa the early 2010s
Fresh grad, analyst / accountant / controller - RM3.5
Analyst 1 / Accountant 1 / Controller 1 - RM4.5
Senior Analyst / Accountant / Controller - RM5.5
Senior Analyst 1 / Accountant 1 / Controller 1 - RM7
Asst Finance Manager - RM9
Finance Manager - RM11 + 2 car allowance
Finance Manager 1 - RM13 + 2.5 car allowance
Senior Finance Manager - RM17 + 3 car allowance
Senior Finance Manager 1 - RM21 + 3.5 car allowance
Finance Director - RM26 + 5 car allowance
Senior Finance Director - RM33 + 6.5 car allowance
Global Finance Director / Finance VP - RM44 + 8 car allowance
Do you guys think this is still more or less accurate for the current market?
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TSflying_manatee
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Oct 26 2021, 07:56 PM
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Getting Started
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QUOTE(Win Win Inspiration @ Oct 26 2021, 06:19 PM) Does that mean the average salaries is still the same as 10 years ago? Tbh no idea that's why asking you guys. Fresh grad salaries don't seem to have changed much though... |
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TSflying_manatee
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Oct 26 2021, 08:07 PM
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Getting Started
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QUOTE(juvaan @ Oct 26 2021, 08:01 PM) Lol, as a finance guy myself, i can vouch that it has stayed stagnant. And for freshies i highly doubt the 3.5k. Even Big4 doesnt pay 3.5k. More like 2.5-3k Haha yeaaa suspected much the same for the Big 4. Their brand name gives them too much bargaining power. For the other levels you think the ranges are more or less legit? (excluding the car allowance as you said) |
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TSflying_manatee
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Oct 26 2021, 09:07 PM
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Getting Started
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Oh gosh our salaries really haven't rose at all.... do you think for most companies we hit the Finance Manager level around 30 years old? (7-8 years exp)
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TSflying_manatee
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Oct 26 2021, 11:26 PM
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Getting Started
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QUOTE(lordgamer3 @ Oct 26 2021, 11:14 PM) My company Assistant Finance manager is 11-16k Manager 16k+4k - 24k(All in) Beyond this range no visibility as non existent in Malaysia context. Oh not bad salaries did rise! So roughly how many years of experience to Manager for your company? |
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TSflying_manatee
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Oct 27 2021, 07:59 PM
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Getting Started
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QUOTE(taitianhin @ Oct 26 2021, 11:13 PM) pity all of them in Finance In my world...ppl getting at least RM2k... How could we survive with RM33 + 6.5....per month Btw, please get report from Jobstreet la... Jobstreet URL salary refHmmm I've heard Jobstreet tends to underestimate though, not sure true or not QUOTE(lordgamer3 @ Oct 26 2021, 11:27 PM) Mostly quite senior 15 years+ Oh ok I guess Manager is pretty high level in your company then.. guess even to Assistant Finance Manager it might take around 10 years? |
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TSflying_manatee
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Oct 27 2021, 09:45 PM
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Getting Started
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QUOTE(DatoChin @ Oct 27 2021, 08:30 PM) Imagine you're the business owner of Jobstreet. You want more people to visit your site regularly right? Will you A) Inflate the reported salary amount so that visitor will get depress and use your site to search for job, and thus increase in traffic. or B) Deflate the reported salary amount so that visitor happy with their current salary, and won't use your site, and thus decrease in traffic Hmmmm that's a good argument.... so you're saying Jobstreet is actually a bit on the high side? I checked for positions like CFO etc and 19-20k seems very low though. |
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TSflying_manatee
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Oct 29 2021, 01:02 AM
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Getting Started
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QUOTE(Topace111 @ Oct 27 2021, 10:24 PM) A simple comparison to a headhunter salary guide will tell you the answer. https://www.hays.com.my/salary-guideWhat's your objective? You want to compare salary for a job offer? Haha no just thinking if i made the change to industry what would the prospects be... QUOTE(taitianhin @ Oct 28 2021, 10:29 AM) Yeah...I can assure you Data for 8K and Abv are totally not accurate in Jobstreet.... Most bank staffs abv 8K-15K. for Manager, AVP, VP in IT or finance... So Jobstreet is really underestimating salaries? |
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TSflying_manatee
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Nov 3 2021, 09:01 PM
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Getting Started
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QUOTE(Topace111 @ Oct 29 2021, 08:31 AM) The thing about finance, it's quite a broad area and each company (dependent on nature and size amongst other things) will have different job descriptions. Some company require their finance manager to perform more tasks than a finance director in another company. If you have serious interest to change, my focus will be ok the job descriptions (JD) first. If you think it's within your comfort, you can look at the remuneration benchmark as motivation. Thanks man, not looking to shift right away but gauging my options down the line. QUOTE(ketupatlazat @ Oct 31 2021, 06:31 PM) A Finance Manager in a RM10mil rev p.a. does not have the same scope, breadth of exposure n responsibility as another FM in a company generating RM500mil rev p.a., hence why salaries will vary greatly between one co n another for the same 'position' Hmmm that's quite true. I do wonder is there a sort of standard at the MNC level (e.g. if the company revenue is over 10 bil USD) then it's all the same |
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TSflying_manatee
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Nov 4 2021, 09:54 PM
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Getting Started
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QUOTE(dattebayo @ Nov 4 2021, 05:14 PM) bank manager starting from 8k i guess? assistant branch manager around 6-7k Omg bank manager is that low? Don't they manage like a whole branch of people (imagining at least 20 here) QUOTE(dattebayo @ Nov 4 2021, 05:19 PM) main source of revenue of these job seeking portals are coming from the ad packages they sold to customers aka employers so their practice of deflating or downplaying the figures do somewhat please their paying customers so more SMEs and chinamans would be willing to buy their ads slot there this is different in the recruitment agencies like Hays, Ranstead etc, their revenue stream are derived from the commissions paid by the customers, the rate is usually 20% of the candidate's annual salary, or 1 month cut of the candidate's offered salary, so it is in their best interest to fight for the best possible amount within their reach. Actually this tallies to what I observe, Jobstreet tends to estimate low while Hays / Robert Walters etc tends to estimate high |
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TSflying_manatee
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Nov 6 2021, 02:33 PM
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Getting Started
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QUOTE(DoomCognition @ Nov 6 2021, 12:37 PM) Can share where did you get this? Got it here in 2012 https://forum.lowyat.net/topic/2328963/allQUOTE(DoomCognition @ Nov 6 2021, 12:39 PM) Yes, that's the trend. Most of the recruitment firms are on the higher side as it will incentive people to move. Only then will they be able to get business. But also have to bear in mind the people who recruitment firms place are usually the more marketable people. But I would still discount their numbers a bit. Yea make sense. Oh what do you mean by discounting their numbers? |
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TSflying_manatee
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Nov 6 2021, 05:50 PM
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Getting Started
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QUOTE(DoomCognition @ Nov 6 2021, 03:53 PM) Meaning whatever that is presented by them, reduce the numbers a bit, probably by 5-15%. The numbers quoted are really on the high side, and that's after me comparing numbers across the industry from people that I know. Hmmm I'm not sure too it could be a experience / responsibility difference for each role. Like from your perspective, how much would the finance manager make and how many years of experience would it take? |
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TSflying_manatee
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Nov 6 2021, 08:57 PM
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Getting Started
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QUOTE(DoomCognition @ Nov 6 2021, 08:23 PM) What industry and what does the Finance manager do? Is he a HoD, or team lead? Let's take a common one e.g. manufacturing or fmcg? Manager... I guess maybe leading 10 people or fewer, a HOD level person sounds like a director to me, though I may be wrong. |
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TSflying_manatee
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Nov 6 2021, 11:21 PM
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Getting Started
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QUOTE(DoomCognition @ Nov 6 2021, 10:42 PM) probably between 8-15k, depending on function, experience and negotiations. in a mid sized company, such a FM generally report to the CFO, as the finance department is usually not that big. probably between 20-50 people. Oh yea i get what you mean. I guess less experience required then? 6-7 years maybe? |
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TSflying_manatee
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Nov 17 2021, 05:36 PM
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Getting Started
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QUOTE(premier239 @ Nov 16 2021, 03:07 PM) 2012 data, but in 2021-22 world, the average payout actually has got lower than the list.. Omg seriously... shows the state of our pay in Malaysia |
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TSflying_manatee
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Apr 29 2022, 06:12 PM
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Getting Started
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QUOTE(alpha team @ Apr 29 2022, 03:29 PM) this is more for MNC finance. for local company the rate is lower. Ah.... yea that does make sense. Would you have any estimates for a local company? |
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