Could a clear playbook and current market data help you get noticeably better pay this year?
We help people across Malaysia turn market signals into practical moves. Recent reports show a median rise near 5% and shifting industry trends that reward flexibility and wellbeing.
Our approach blends fresh market data, simple negotiation steps, and tailored benchmarking for your job and company. We set clear expectations so you know when to ask, how to position your impact, and which benefits matter most to attract retain top talent.
We also map where increases are strongest by industry and time your discussions for maximum effect. If you want one-on-one help now, WhatsApp us at +019-3156508 for a free consult and we’ll walk you through the steps to increase your pay.
Key Takeaways
- Median market outlook sits around 5% this year; know what that means for you.
- We translate survey data into clear, actionable steps for job or internal moves.
- Target companies and timing matter — we help you pick the right targets.
- Services include benchmarking, offer review, and counter-offer strategies.
- Contact us on WhatsApp +019-3156508 for free 1-1 consultancy and quick guidance.
Malaysia’s salary landscape right now: what the data tells us
Right now, the national pay picture is shaped by growth data, inflation, and a tight labour market. Mercer’s TRS 2022 projects a median 5% increase next year, above the Asia Pacific average, while GDP growth hit about 6.4% in 2022.
Growth, inflation and labour market context shaping pay
Inflation and cost pressures are forcing companies to balance budgets and workforce needs. Employers weigh base increases against bonuses and flexible benefits as cost of living rises.
Voluntary attrition and competition for talent
Surveys show voluntary turnover rose to 18.5% in 2023. Mercer and WTW data flag pay dissatisfaction, burnout, and lack of flexible work as top drivers.
Why flexibility and wellness benefits matter
Total rewards now include hybrid work and mental health support. These options help companies remain competitive and keep employees engaged.
- We explain pay cycles and timing so you can align your ask with budget windows.
- For a personal read of what this means for you this year, please WhatsApp +019-3156508 for free 1-1 consultancy.
salary increment malaysia: industry-by-industry trends and projections
Industry splits show clear pay patterns that guide where demand and raises concentrate this year.
From 2023 actuals to 2024 projections
WTW data show most sectors holding near a 5% increase from 2023 into 2024. General Industry moved from 5.6% to 5.0%, while BioPharma edged from 5.5% to 5.2%.
High-paying sectors and who led in base pay
Asset Management and Oil & Gas paid the highest base rates in 2023. Banking, Tech, Media & Gaming, and Shared Services & Outsourcing also outpaced the median.
Catch-up and bonus patterns
Education, Real Estate, Construction & Engineering, and BioPharma are catching up. Retail and Consumer Goods showed notable bonus rises, and SSO and High Tech report the largest bonus pools.
| Sector | 2023 Actual (%) | 2024 Projected (%) | Typical Bonus (~%) |
|---|---|---|---|
| General Industry | 5.6 | 5.0 | — |
| Asset Management | 5.2 | 4.9 | — |
| Shared Services & Outsourcing | 4.9 | 5.1 | 20.3 |
| High Tech | 4.9 | 4.8 | 19.9 |
Why this matters: Malaysia’s median of about 5% outpaces the Asia Pacific average, so companies must remain competitive to keep talent and fill key jobs.
For a sector-specific plan to increase your pay, WhatsApp us at +019-3156508 — please contact us for free consultancy.
Employee expectations, salary increases and job-switching behaviors
Many people report small annual increases, yet far more are ready to move for markedly higher offers.
Up to 5% raises for stayers, big gains for movers
Randstad’s 2023 survey shows 49% of those who stayed got up to a 5% salary increase. Meanwhile, 91% said they would change employers for higher pay.
Nearly 30% changed jobs in the past 12 months and about half of them saw ~20% wage jumps. This gap fuels active job-seeking and keeps recruiters busy.
What drives expectations: cost, benefits and career paths
Inflation and cost pressures shift how people value pay versus benefits. Mercer and WTW data point to pay dissatisfaction (77%), burnout (36%), and lack of flexible work (31%) as main turnover drivers.
For employers, clear progression and timely reviews help retain talent. For employees, knowing market benchmarks makes negotiation stronger.
- Use survey insights to set realistic increase targets.
- Compare offers on total rewards, not just base pay.
- Time moves to when demand for your skills peaks.
To map a personal plan to raise your pay—by staying or switching—message us on WhatsApp at +019-3156508 for your free 1-1 consultancy. Please contact us for free consultancy.
What we recommend now: strategies to win on pay, benefits and careers
Smart packaging of pay, benefits and growth beats headline increases alone. Use a balanced approach so people feel valued and companies keep budgets under control.
We recommend balancing base pay, bonuses, and flexible work with wellness and development. This mix helps employers attract retain key talent without overstretching annual budgets.
Balance total rewards
For companies: blend smaller base increases with targeted bonuses and flexible hours to reward performance. This reduces turnover and keeps costs predictable.
Use market data to benchmark
We use WTW and Mercer survey findings to set realistic targets by job, industry, and skill. Benchmarking helps justify increases and guides hiring ranges.
Career pathways and internal mobility
Design clear career maps so the workforce can grow internally. Training and promotions cut hiring costs and improve retention.
Free 1-1 consultancy
Ready to plan your next move? Get a free 1-1 consultancy via WhatsApp at +019-3156508 and we’ll create a step-by-step plan tailored to your job and industry. Please contact us for free consultancy.
Conclusion
Bottom line: averages tell part of the story; targeted strategy creates superior results. Our view is that market data sets a baseline near 5%, yet smart moves unlock better outcomes for many roles.
For employees and employers, success comes when data-driven expectations meet clear execution on total rewards, career paths, and flexibility. The competition for talent is real, and acting early gives you the edge.
If you want personalised next steps, WhatsApp us at +019-3156508 for free 1-1 consultancy. Please contact us for free consultancy and we’ll design a plan to grow your salary and improve retention.
FAQ
What services do we offer to help you achieve a pay increase?
We provide free one-to-one consultancy to review current compensation packages, benchmark roles against market data, and design a plan for higher take-home pay. Our approach covers base pay, bonus structures, benefits, and career pathways so employers and employees can act with confidence.
How is the current pay landscape shaped by growth, inflation, and labor market conditions?
Rising consumer prices and tighter labor markets have pushed many employers to adjust pay. We track market surveys and inflation data to advise realistic increases that keep businesses competitive while protecting margins.
Are employees leaving voluntarily because of pay, and which industries face the biggest competition for talent?
Voluntary attrition is high where demand for skills outstrips supply, notably in banking, oil & gas, tech, and shared services. Employers in those sectors must offer compelling total-reward packages to retain staff.
What role do flexibility and wellness benefits play in attracting and retaining people?
Flexible work, mental-health support, and family-friendly policies are often decisive. Many candidates now weigh benefits and work-life balance equally with monetary offers when choosing employers.
What are the typical year-on-year increases by industry and what should we expect?
Across many sectors, median increases hover near 5% as firms balance inflation and profitability. High-paying fields may see larger moves, while some sectors still play catch-up with smaller raises.
Which sectors tend to lead in pay and which are catching up?
Banking, insurance, asset management, oil & gas, and shared services often lead on compensation. Education, construction, real estate, and life sciences are among those working to close gaps against market leaders.
How do variable pay patterns like bonuses affect overall earnings in retail, consumer goods, and tech?
Those sectors commonly use bonuses and incentive pay to smooth cost pressures and reward performance. This can stabilize total earnings even when base increases are modest.
How does our market compare with the wider Asia Pacific region?
Regional comparisons show we must remain competitive on both pay and career opportunities. Using APAC benchmarks helps employers attract cross-border talent and avoid costly turnover.
What can employees expect in terms of increases and willingness to switch jobs?
While many will see modest rises, a large share of workers say they would move for higher pay. That makes transparent career paths and timely reviews essential for retention.
How should employers balance pay, benefits, and career development to win talent?
We recommend a total-reward strategy: align market-based pay, clear bonus mechanics, meaningful benefits, and visible career ladders. This mix reduces turnover and improves engagement.
How do we benchmark salaries effectively by job, industry, and skill?
Use up-to-date market surveys, role-level frameworks, and skill taxonomies. Regular benchmarking — at least annually — ensures offers remain competitive and supports fair pay decisions.
What steps help build internal mobility and strengthen the workforce?
Map career pathways, invest in reskilling programs, and create rotation opportunities. Promoting from within improves retention and retains institutional knowledge.
How can we get a free consultancy session and what does it cover?
Contact us via WhatsApp at +019-3156508 for a complimentary 1-1 session. We’ll review your position, suggest immediate actions, and outline longer-term reward strategies tailored to your situation.