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Published by Afterschool.my on Apr 21, 2022, 01:56 pm
The rapidly growing demand for accountants in Malaysia has taken many by surprise. With a rise in demand, so to comes a rise in salary, with accountants being one of the best paid professions in Malaysia. This also leads to the increase in accounting jobs 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 fresh graduate salary in Malaysia 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. With many positions you can apply to with your accounting skills, you will be able to earn a handsome salary with auditor salary in Malaysia, audit associate salary Malaysia, banker salary Malaysia, account assistant salary in Malaysia and finance assistant salary Malaysia.
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. Being a Senior Accountant, you can apply for positions with a higher salary such as account executive salary in Malaysia, finance executive salary Malaysia, and personal assistant salary Malaysia.
Accountants who obtain their professional qualification will be paid more handsomely than 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 accountant 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 with different salaries, such as a finance manager salary Malaysia, financial controller salary Malaysia, account manager salary malaysia, and bank manager salary in Malaysia. Salary varies greatly depending on the additional certifications obtained, ranging from RM12,000 – RM20,000+
One of the most important factors in determining your salary is your experience level. With more years of experience in your career as an accountant, the higher your salary will be. An entry level accountant with less than two years of experience would make approximately RM3,000 per month. Meanwhile, an accountant with three to six years of experience would make approximately RM5,000 per month. Moving on, an accountant with eight to ten years of experience can make between RM12,000 - RM20,000 per month. So, if you want to make more money out of your accounting career, build experience by working in your field for several years.
If you are a male accountant, you might notice that your salary is just slightly higher than your female colleague’s salary. This is because gender does have an effect on pay. On average, male accountants are paid 5% higher than female accountants. It is not really known why men are paid more than women, but keep this in mind when getting your salary.
If you are curious about the salaries of other professions, check out our articles for engineers and doctors.
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!
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