TMCnet News
Join the hunt for much higher salariesMar 01, 2011 (The Star - McClatchy-Tribune Information Services via COMTEX) -- PETALING JAYA (THE STAR/ANN) -- Headhunting is the way to go for those aiming for a salary upgrade in Malaysia. Firms will normally offer salaries that are 25% to 30% higher to attract talent from their competitors. "That is the norm. Usually, high salary hikes are seen when a sought-after employee joins another firm," headhunter Reza Ghazali said. Reza, who heads the Malaysian chapter of multinational headhunter firm, Korn/Ferry International said average salary increments usually ranged from 7% to 10% to hedge against inflation. "International developments such as oil prices and the situation in North Africa may also affect a firm's ability to provide a generous salary increment across the board," he added. The Star reported on Monday that wage increases of between 5% and 30% are expected in many key industries this year, partially influenced by inflation rates and market conditions. This was based on the findings released by the Robert Walters Global Salary Survey 2011 for Malaysia. The survey also indicated that the job market has gradually moved to become more employee-driven. Some firms are even willing to offer premiums to attract good local and foreign talent with niche skills. A group of business application consultants from an international firm said they were surprised that their professional wages ranged from RM100,000 (US$32,860) to RM150,000 in the survey. The consultants, with three to five years of work experience, said their salary only ranged from RM65,000 to RM110,000 for 2010. "There is a huge gap between the actual and surveyed figures," said one of them who wished to be known only as Sue. To see more of the Asia News Network, go to http://www.asianewsnet.net/home/ Copyright (c) 2011, The Star, Kuala Lumpur, Malaysia / Asia News Network Distributed by McClatchy-Tribune Information Services. For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com. |