For banking field, 7K rm at age 27 is above average. Btw, I hope you understand the word average.
finance/audit/accounting are related to banking, so you are doing fine.

But if you are asking if the market rate is fair, that is a different question.

That is the issue with "free markets" I guess. Malaysia's ecosystem is doing a huge disservice to all of us here. Since I am older and comtemplating early retirement, it is now in my interest to have our ecosystem continue to depress labor compensation.

We are definitely losing talents. Government's and employers' trick of good/cheap food and this is our birthplace can only do so much. And to compound on it, the old "people" continue to stagnate and that causes the next generation to suffer. (politics is all just too clear).

I always advise those who can to go overseas to work if possible. Singapore is a no brainer as it is nearby and easiest for us Malaysians culturally. But if possible, do head to China or America or Europe, etc. Yeah, Covid is making it harder.
(taking america for example. a fresh grad in accounting can make north of 60K usd per year in fixed salary. Better to have more reasons to stay in KL right? Our government and employers still think like it is back in the 1970s; taking advantage of covid situation as well )

But I also tell them to remember and return to Malaysia if can, especially when one is closer to retirement. At least the the talents are not totally lost. And then our government went to approve tax on foreign income remitted. lol.

After reading a bit here and there in this thread about your firm (based on your observations and feeling), it maybe a good idea for you to look elsewhere. At least to you, your firm is limiting your potential and career path, and there is really no point to waste your effort there.

finding ways to kill 1 hour of your lunch time is just one example of a tell tale sign.

It does appear that you have put a lot of thought process into this, and has put in place steps to achieve your goals. Exceptionally commendable for anyone of any age, let alone at your age.

It would also be a good idea to find a trustworthy mentor to go over ur plans and uncover any blindspots. Certain things only come with experience and time unfortunately.

For examples (just based on the points you mentioned here), and do take them as constructive feedbacks.
Under normal circumstances, i would say financial freedom is a good concept, but the fact that you are discussing about 7K remuneration may mean your concept of financial freedom may not be able to withstand reality shocks in life.
at your current career stage (or if we are being blunt, basically your current job), completing tasks may appear to be the only thing that matters. Unfortunately it is not. The other aspects of working life is what most of us mean by building relationships or playing office politics. Joke aside, a good example is have you ever notice that CEOs of companies almost never do any work and yet they still get paid?

Investment returns are largely due to luck and the stories heard are mostly survivorship bias type of stories. What i find more enduring is having enough buffers to withstand bad luck. Keep at it and not pull any triggers until you are truly ready. The good thing for you here is your youth. Any mistake done now, you still have time to do error correction.

6 digit monthly after bonus means 100K rm?

It is exceptionally rare, applicable mainly for commission based jobs like UT seller or Insurance seller... basically each major bank for example, only a few at most. This is the part where people thought it is better to be in sales because of the perception of easy money.

Human nature feedback loop will work against such performers. Just look up remunerations of CEOs of insurance firms or UT/fund houses. If CEOs are only making low millions per year, the system/the firms "humans" will not allow these 25/26 "kids" from easily and continiously bringing in 100K rm above month in month out.
and these high performers have to share their good fortunes with others like their sales heads/managers/branch groups in one form or another.

This post has been edited by Wedchar2912: Dec 18 2021, 10:25 PM

ah, what I meant by it is basically a form of reality check.
financial freedom is not a static story.

in this case, the discussion was focusing on 7K remuneration for someone of 27 years old, and how that rank relative to market/location of KL/age. So the number portion of financial freedom in mind would be in the same order to lower order of magnitude of 7K rm per month.
This number may appear adequate at your current state, but your requirements will not remain static just because you are at the start of your adult stage. Good examples are say flooding of your home (that causes financial damage) or some random medical expense. These things younger people usually thought of as random, but they are almost certainty as time passes.
The other end of the scope would be say you strike a lottery which will pay you 1 mio rm per month. I would say that is way more than enough and to need more is just greedy. Even cancer treatment will not cost that much (and if it does, one may decide it is better to just die).

I feel and agree with you on the office politics part. unfortunately all you described I have seen in my work place and other firms and I am sure they are not rare. For lack of better words, this is Malaysia and we are stuck with such culture. Should never participate in such toxic culture, but cross any bridge as it comes.

This is yet another indication that wages in Malaysia is "affordable" from the employer's point of view.
especially true for MNC and if the employee is willing to travel. Get a 10K rm salaried employee, and send him/her to say UK to work for 6 months. To fill the same scope with UK local hire would have cost more than 7K gbp with other costs.

a good way to gauge is look at your take home pay x 0.5. That is pretty much what you need per month, with the assumptions that everything remain static. You will still live very comfortably.
(MCO/WFH/covid is a good gauge of what is basic needs)

So to add buffer, multiply that number by 2 or 3 or 4....

This post has been edited by Wedchar2912: Dec 19 2021, 02:55 PM

lol
nice story. tell tale: asking the last question.

You just answered without realizing that your story is "nice", and I am being polite here.
But lets focus on the question you asked. What's the point of the story and question: just hijack the thread? I cannot see your contribution to this thread with said story, but this would be for the TS to decide. As I am just a participant in this thread as well in a public forum.

btw, i would guess a typical /k, as you equate me to, would ask you for screenshot proof, else it is all fake story. Then again, another /k would just create some screenshot for fun. (btw, I don't mean it, so no need to divulge any info please as it is a public forum).

Btw, if want to use usd, do be consistent with all the numbers.

in my face of what? you made a story, and then your ego is inflated because I entertained you?

Again, I am being generous by explaining stuff to you, which I really should not.
taxation has nothing to do with regulation. I am guessing you are trying to say that you are involved in crypto field, but I can be completely wrong as your story is not detailed enough yet.

Another free advice.
Assuming your story is real, make sure you are properly protected and your employment contract is proper and you are operating within legal framework. The field can be unregulated, but the law of the land should be sound.

This post has been edited by Wedchar2912: Dec 19 2021, 05:58 PM

Yeah, I wanted to say that it could be due to youth, but I was never like that when I was younger...

but it could be eqo... public forums do have diverse set of participants.

lol. you didn't ire me at all. In fact, I thank you for the story as entertainment.

like I said, this is a public forum, and it would be silly to be impacted emotionally at all.

I am also glad that you are entertained and felt that you did make a impact on my ego. But what you did do is help me pass some time during a very rainy weekend.
Why not share more of your stories, as I feel that you actually want to share more and trying to build some form of reputation in this forum about what you are doing and how good it is to society even. Looking forward to more stories really.

If he did, do be careful: no free lunch and you may end up as his lunch.

But I really doubt he will. one btc would be nice to any of us. See, I happily help him hijack this thread as his platform to tell his story.