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Published by Afterschool.my on Jul 16, 2018, 10:09 am
The rapidly growing demand for accountants in Malaysia has taken many by surprise. Based on the evidence that’s been steadily growing however, perhaps it should have been expected. In 2017, the Malaysian Institute of Accountants (MIA) lamented the shortage faced, with the number back then around 27,000 short of the 2020 target. An article carried by ACCA in 2018 also noted the need to almost double the current number of accountants in Malaysia. With a rise in demand, so to comes a rise in salary, with accountants being one of the best paid professions in Malaysia. But just how much do these calculation wizards earn? What is the salary of an accountant in Malaysia?
Fresh graduate accountants can expect a higher than average salary versus most of the other fields in Malaysia, ranging between RM3,000 – RM4,000 a month. If you were to assume the big 4 accounting firms, Ernst and Young, KPMG, and PricewaterhouseCoopers (PwC) and Deloitte, pay the best, you would be wrong. This is mainly because these accounting firms pay a little less due to the fact they provide unparalleled experience and training.
Average: RM3,000 – RM4,000
An accountant who has accumulated around 5 years of experience will be earning higher than the market average. The salary of an accountant at any of the big 4 accounting firms can range between RM4,000 – RM6,500. Other accounting firms could potentially pay more.
Accountants who obtain their professional qualification will be paid more handsomely then their non-professional counterparts. A chartered accountant may sign off on select documents and would be a highly valuable asset on any team. A chartered can earn up to RM 7,500, depending on the accounting firm. Some professional qualifications include ACCA, MICPA and more.
Moving up the ranks, an accountant can take up a managerial position in various financial departments in a particular company, such as a financial manager, financial controller finance director. Salary varies greatly depending on the additional certifications obtained, ranging from RM12,000 – RM20,000+
Are you interested in becoming an accountant? Do you want to know exactly what it will entail? Click here and find out the pros and the cons, the skills you will need, possible employers and more!