Highest and lowest paid fresh graduates

May 13, 2014

From this survey, we were able to gleam the top 5 and bottom 5 in terms of salaried fresh grads. Looking at the list, it appears that supply seemed to be the biggest motivator for salaries being either on the upward spiral or the downward.

FEATURE

By Caitlyn Ng
Much has been said about fresh graduate salaries: about how low it is or in the view of employers – how unreasonable it is to expect more. There’ll always be two viewpoints because employers are looking to save as much as they can in the hiring process and the employees will be looking to earn as much as they can. The constant struggle between two polar opposites will really never abate but numbers at least, speak for themselves.

Whilst an employer may argue about an overpaid fresh grad and a fresh grad may lament the low salary – in view of inflation, market forces of supply and demand – what does economics say about fresh grad salaries in Malaysia? We looked to a recent research that was conducted by JobStreet and published in April 2014, which showed that a majority of fresh graduates were struggling to make ends meet (approximately 77% who said that their salary does not leave them with any savings after spending on essentials such as car and study loans).

From this survey, we were able to gleam the top 5 and bottom 5 in terms of salaried fresh grads. Looking at the list, it appears that supply seemed to be the biggest motivator for salaries being either on the upward spiral or the downward. Meaning, are we producing more graduates (though with less quality) for a single field resulting in shortages in others? It could very well be that oversaturation of low-quality graduates could be contributing to the equally low salary.
Top Five
1) Pharmacy: RM3,640
It may seem a surprise to some that the usual career choices did not make the top spot, but there you have it, pharmacy takes the top spot on this list. Pharmacy involves the process of dispensing drugs and medicines, in addition to preparing them. Modern services related to this field include clinical services where pharmacists are the experts on drug therapy for the benefit of patients.

2) Corporate Strategy: RM3,200
Having to ensure that the corporation is headed in the right direction as well as the way in which its various business operations work together to achieve particular goals is definitely not an easy task. That’s why a fresh graduate who lands a job in assisting the senior management to guide the corporation in the right direction to successful outcomes has to be focused and driven – and will thus be paid handsomely for it.
3) Sales – Financial Services: RM3,054
Financial services are the types of services (such as insurance, financial planning and money management) that one can expect from institutions such as banks and insurance companies. As such, this means that fresh graduates will be required to have an in-depth knowledge about the products and the benefits they can offer since they are representing major corporations in the industry. Not only do they require training and lots of reading up on the products and services, they will have to remain up-to-date on the ever-changing market so that they are in the best position to advice their clients. It’s not for everyone and those who meet the mark will be paid better than other fresh graduate counterparts.

4) Doctor: RM2,719
This is probably one position that comes as no surprise to the public, considering the amount of students who do their best to enter the profession after graduating from secondary school and it comes time to choose a profession. To be a doctor, it’s not all about the complicated operation procedures you see on TV shows such as E.R or House, it’s about being a qualified practitioner of medicine in general. Treating patients, no matter in what way, and then seeing them recover is one of the best ways to dedicate one’s life in working towards. Sad though, that doctors are only 4th on the list with pharmacists overtaking them!

5) Sales – Engineering / IT: RM2,612
Another sales position popping up on this list, which makes one realise that in the world of sales, if you have the determination of steel and the willingness to work hard, one can reap the rewards soon enough! Similar to the sales position above, this position involves the need for fresh grads to have a thorough knowledge of all things engineering and IT, not an easy task! This is because people in these fields make buying decisions differently than those in other consumer contexts, being based more on technical information and rational analysis.

The Lowest Paid
Customer Service Executive: RM1,800
Is it any surprise that this position is on this list? Many fresh graduates (yours truly, at one point, included) would have started out in a call centre and handled the numerous calls of enquiry and complaints coming in on a daily basis. While this job seems straightforward enough, it requires a great deal of patience as the fresh graduate will not only have to answer all calls efficiently, but deal with sometimes irate customers. Yet, it doesn’t take any particular skill and most any graduate can do it if they are of the right disposition and thus why customer service people are paid as they are.

Sales Coordinator: RM1,650
A sales coordinator is the person in charge of all types of inquiries related to sales as well as having to implement new policies that have been specifically designed to increase sales quotas and find new customer bases. One would have to conduct thorough market research as well as keep tabs on competing businesses. This person is the link to the sales manager and the other sales people.

Graphic Designer: RM1,600
If you’ve ever enjoyed beautifully designed advertisements, then you’ve got graphic designers to thank! They’re the ones in charge of putting together images or motion graphics in a way that’s visually appealing to create a piece of design. In the beginning, a fresh grad will face strong competition when applying for positions within the industry, as many companies will look for candidates with convincing talents. The starting pay may be crap but if you’ve got the goods; you’ll be raking in no time.

Administrative Assistant: RM1,500
The title is a little self-explanatory, but these people are the ones who have the task of providing different kinds of administrative support to the people and groups in business enterprises. This could mean doing anything that is required of them, from managing various files to managing the inventory of assets and supplies as well as preparing minutes of meetings.
Caitlyn Ng is an Investigative Journalist of SaveMoney.my, an online consumer advice portal which aims to help Malaysians save money through smart (and most of the time painless) savings in their daily banking, technology, and lifestyle spending habits.