Best High Salary Jobs in Malaysia in Banking & Financial Services

Study Finance, Banking & Investment in Malaysia
Average Salaries of Malaysians in Banking & Finance
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One of the aims of studying is to get a job, and the aim of getting a job is to earn a stable income in order to take care of your future family as well as your parents as they grow old. Therefore, finding out how much you will earn when you graduate from the course that you have chosen would be important. You don’t want to make the mistake of finding out that there is no job demand or the job has low salary after you graduate. Banking and Finance is a popular course in Malaysia and the job prospects for the career is good and one can earn a high salary if you are equipped with the necessary knowledge and skills. In this article, you will find out how much a Banking & Finance professional earns in Malaysia and hopefully this will help you in making your decision in choosing the right course to study.
Established since 2009, EduSpiral Consultant Services is a top recruitment agent for the best private universities in Malaysia providing information and counselling on courses and helping students to choose the right university. EduSpiral Consultant Services sets ourselves apart from other agents by providing counseling based on facts and evidence so that our students are able to make the right choices after SPM, IGCSE/O-Levels, UEC, STPM, A-Levels or Pre-University. In order to choose the right course, we need information on the salaries of the career of our choice. To help students make the right choices about choosing their career and course in the banking & finance industry in Malaysia, we have listed the average salaries plus some of the top private universities in Malaysia offering this course.
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Jobs in the Banking & Finance Industry in Malaysia

Darren, Finance & Investment Graduate
Banking is a traditional career area for graduates, as is the wider financial services sector. Although many graduate entrants have a financial background there are also openings for those with degrees in other subjects: you can expect good training on a graduate programme and there may be a chance to extend your knowledge through professional exams.
The banking and finance industry plays a crucial role in promoting and sustaining the economic growth of a country. It safeguards the interests of its customers, sells its services and encourages investments. Different types of banks offer different kinds of services to different groups of customers.
- The banking and finance industry comprises:
- Bank Negara Malaysia (Central Bank)
- commercial banks
- finance companies
- money and stockbroking firms
- futures trading firms
Commercial banks provide financial advice to the public, businesses and industries, as well as the local government.
Merchant banks provide services to firms and corporations. They offer banking services and advice on takeovers, mergers, acquisitions and international trading.
Bank Negara Malaysia (Central Bank) does not provide banking services to the public. It functions as a central bank and acts as an intermediary for the government and other banks. It supervises other banks and foreign exchange, looks after the government’s interests, prints and withdraws money in circulation. It also provides advice to the Ministry of Finance and other government agencies.
What are the Average Salaries for Malaysian Professionals in Banking & Financial Services?
Robert Walters Malaysia Career Advise on Finance

Chew Ling, Accounting & Finance at Taylor’s University
The finance manager is responsible for the day to day running of a company’s finance team. They provide a comprehensive financial accounting service with responsibility for preparing accurate, timely financial and management accounts and reports. They are also charged with developing financial strategies to ensure that the organisation reaches its short and medium term goals.
To become a finance manager, you’ll require a tertiary qualification in accounting. In most cases you will also be CA qualified with several years’ post-qualification experience. Additionally, you will be able to demonstrate the following experience:
- Staff management experience
- Several years’ post-qualification experience gained in a commercial environment
- A good mix of business and accounting abilities
- Financial systems knowledge
- Familiarity with an ERP system
- Highly computer literate with sound spread sheeting and reporting skills
- On average, salaries for finance managers are between circa MYR 100-180k.
Key attributes
Key personal attributes for a successful Finance Manager include:
- Strong interpersonal skills – you will be dealing with various areas of the business
- Process improvement focus – you will be able to identify issues and offer suggestions for improvement
- Commercially aware – you will need to be well versed in the technical aspects of all kinds of financial decisions
- Strong people management skills – you will need to be able to motivate your staff members
- Deadline-driven – you will set the monthly and year end timetable to ensure the finance division meets reporting deadlines
- On average, salaries for finance managers are between circa MYR 100-180k. Proven finance managers have good career opportunities and can progress to become financial controllers.
2022 Michael Page Salary Report – Malaysia
According to Michael Page Salary Report, the position of Head of Banking in Malaysia is the 5th Highest Paid. In addition, Finance Directors are the 8th Highest Paid while the Senior Insurance Manager comes in at 9th.
5. Head of Corporate Banking
Malaysia’s finance sector has remained resilient throughout the COVID-19 crisis. Last year, as the economy recovered, higher debt repayment by companies helped improve business leverage for banks. Finance professionals working in corporate and commercial banking will stand to be well compensated, and the Head of Corporate Banking stands to take home about an average salary of RM450,000 per annum.
8. Finance Director
A solid financial infrastructure is the backbone of any company. With a broad list of duties and high levels of responsibility, Finance Directors are duly compensated. They stand to take home RM324,000 to RM420,000 a year, in sectors such as Business Services, Digital & Technology, Fast Moving Consumer Goods (FMCG), and Healthcare & Pharmaceutical.
9. Senior Insurance Manager
Insurance – be it life and health, or mortgage and credit – is an important source of revenue for banks. This is probably why, even within the financial services sector, a Senior Insurance Manager can expect to be exceptionally well-compensated, taking home an average salary of RM390,000 a year.
2022 Malaysia Salary & Employment Outlook forBanking & Financial Services– PersolKelly

Gary, Accounting Graduate from University of Wollongong Malaysia (UOWM) KDU
When Movement Control Order (MCO) happened, there was a surge in online transactions. As a result, there is an increase in demand in the cybersecurity sector to render smooth and safe transactions across the
world wide web.
Until today, data breaches remain a significant challenge for banks. In 2020 alone, there was an 82.5% increase in online incidents. As bank customers data becomes more easily accessible, financial institutions have to strengthen their defences against cyberattacks, mitigate and minimize risks
Financial Technology (Fintech) sectors saw it as an advantage and offered more convenience to their consumers. And at times, way more than what the traditional banks can offer. And not surprising, customers are experiencing the benefits and considering alternative digital solutions for their financial needs.
Most banks are now facing a limitation in offering credit facilities to their existing and future clients. The high rates of defaults and moratorium on bank loans are some of the major precipitating factors. Surprisingly, digital finance providers such as digital banks and Fintech solutions have become the saviour of many struggling businesses and the general public.
Thus, the traditional banks must innovate their current services to stay ahead of the pack. Otherwise, they may face potential disruption in the next few years. Besides, digital banks and Fintech solutions are at a stage which they can compete directly with traditional ones.
While services play a role in shaping both sectors, they recognise the importance of digital readiness. Since
MCO, the dependency on technology and automation has been on the rise. Therefore, banking professionals with additional skill sets will have an advantage in securing a place within this sector. For that reason, the banking industry seeks agile talents that can accommodate the shift in digital trends. The professionalism
and trustworthiness of an individual will be the key determining factors for future hires.
Despite the challenges ahead, the banking and financial services continue to recruit actively. As more digital projects surface, there will be a surge in demand for more banking specialists to aid in the transformation process
- In 2020 alone, there was an 82.5% increase in online incidents
- The traditional banks mustinnovate their current services to stay ahead of the pack
- Digital banks and Fintech solutions have become the saviour of many struggling businesses and the general public
- There will be a surge in demand for more banking specialists as more digital projects surface





The 2022 Hays Asia Salary Guide – Banking & Financial Services
The Banking and Financial Services sector will play a transformative role in our journey towards becoming a low-carbon economy. Across Asia, there is a growing spotlight on sustainability and diversity hiring as roles
and skills become increasingly cross-functional.
Cross-functional skill sets a priority as digitalisation accelerates
As Malaysia’s economy progressively opens up and stabilises from the pandemic, roles within the Banking & Financial sector are rapidly evolving to keep pace with market and growth needs. Bank Negara, Malaysia’s central bank is set to issue its first digital banking licences in Q3 to Q4 2022, a move which is projected to accelerate the mushrooming of Fintech companies in the country.
Accordingly, demand for talent with cross-functional skill sets across finance and tech will rise rapidly as hiring activities increase. The ideal candidate would have experience in the audit, risk, or investment space as well as skills in data analytics and automation.
At the same time, there is also a growing awareness, especially among younger Malaysians, of tech-enabled financial tools such as digital wealth management platforms. As these tools and platforms become more prevalent, banks and financial institutions are progressively moving away from selling structured
products.
Consequently, 2022 will see strong demand for wealth management or investment professionals with technical skills such as data analytics.
Sustainability on the central bank’s agenda
In 2022, Bank Negara will double down on sustainability commitments set out in the last year. The central bank is taking steps to encourage banks and financial institutions in Malaysia to set up a sustainability department or designate a point person to drive sustainability initiatives within the banks.
In response, the demand for finance professionals with ESG experience is expected to increase significantly, which will create fierce competition in an extremely candidate-short market.












Michael Page Salary Benchmark 2020
Michael Page Salary Benchmark 2020 reports the yearly salaries for the various Finance Job Positions in the Fast Moving Consumer Goods (FMCG) & Retail Sector:
- Senior Finance Manager RM180,000 to RM264,000
- Finance Director RM300,000 to RM480,000
- Financial Analyst RM72,000 to RM108,000
- Business Analyst RM60,000 to RM120,000
- Senior Financial Analyst RM96,000 to RM120,000
- Financial Planning & Analysis (FP&A) Specialist RM84,000 to RM180,000
Michael Page Salary Benchmark 2020 reports the yearly salary for the Financial Analyst in the Technology & Telecommunications Sector earns from RM70,000 to RM84,000
Michael Page Salary Benchmark 2020 reports the yearly salaries for the following Banking Positions in the Financial Services Sector:
- Branch Manager RM60,000 to RM264,000
- Senior Corporate Banker RM180,000 to RM300,000
- Head of Corporate Banking RM300,000 to RM600,000
- Head of Commercial Banking RM240,000 to RM450,000
- Relationship Manager (Retail) RM36,000 to RM108,000
- Relationship Manager (Commercial / Corporate) RM65,000 to RM210,000
- Director Relationship Management RM200,000 to RM360,000
Michael Page Salary Benchmark 2020 reports the yearly salaries for the following Finance Positions in the Financial Services Sector:
- Chief Financial Officer RM420,000 to RM540,000
- Chief Risk Officer RM240,000 to RM480,000
- Chief Compliance Officer RM240,000 to RM480,000
- Operations Executive RM48,000 to RM66,000
- Credit Control Manager RM96,000 to RM120,000
- Director Credit Control RM120,000 to RM144,000
- Head of Financial Reporting RM192,000 to RM216,000
- Head of Treasury RM180,000 to RM216,000
- Transaction Banking Lead RM216,000 to RM217,000
- Head of Finance RM204,000 to RM264,000
- Vice President Finance RM180,000 to RM300,000
- Insurance Advisor RM72,000 to RM96,000
- Senior Insurance Manager RM360,000 to RM420,000
- Head of Sales RM144,000 to RM240,000
- Regional Head of Sales RM300,000 to RM500,000
- Personal Financial Consultant RM36,000 to RM60,000
- Bancassurance Specialist RM72,000 to RM144,000
Robert Walters Salary Survey 2020 Malaysia
Robert Walters Salary Survey 2020 Malaysia – Kuala Lumpur (Salaries are yearly in ‘000 RM)
- Banking & Financial Services
- Global Markets
- Treasury Sales
- 4 – 7 YRS’ EXP 78 – 192k
- 8 – 12 YRS’ EXP 192 – 360k
- 12+ YRS’ EXP 360k+
- Treasury Trader
- 4 – 7 YRS’ EXP 78 – 192k
- 8 – 12 YRS’ EXP 192 – 360k
- 12+ YRS’ EXP 360k+
- Treasury Sales
- Investment Banking
- Corporate Finance
- 4 – 7 YRS’ EXP 84 – 144k
- 8 – 12 YRS’ EXP 144 – 192k
- 8 – 12 YRS’ EXP 192k+
- Mergers & Acquisitions
- 4 – 7 YRS’ EXP 84 – 144k
- 8 – 12 YRS’ EXP 144 – 240k
- 12+ YRS’ EXP 240k+
- Debt/Equity Capital Markets
- 4 – 7 YRS’ EXP 72 – 192k
- 8 – 12 YRS’ EXP192 – 300k
- 12+ YRS’ EXP 300k+
- Corporate Finance
- Investment Management
- Private Equity
- 4 – 7 YRS’ EXP 108 – 240k
- 8 – 12 YRS’ EXP 240 – 400k
- 12+ YRS’ EXP 400k+
- Fund Manager
- 4 – 7 YRS’ EXP 84 – 216k
- 8 – 12 YRS’ EXP 216 – 400k
- 12+ YRS’ EXP 400k+
- Research Analyst
- 4 – 7 YRS’ EXP 60 – 180k
- 8 – 12 YRS’ EXP 180 – 300k
- 12+ YRS’ EXP 300k+
- Private Equity
- Transaction Banking
- Cash Management
- 4 – 7 YRS’ EXP 60 – 120k
- 8 – 12 YRS’ EXP 120 – 240k
- 12+ YRS’ EXP 240k+
- Trade Finance
- 4 – 7 YRS’ EXP 60 – 120k
- 8 – 12 YRS’ EXP 120 – 240k
- 12+ YRS’ EXP 240k+
- Cash Management
- Wholesale Banking
- Corporate Banking (RM)
- 4 – 7 YRS’ EXP 55 – 120k
- 8 – 12 YRS’ EXP 120 – 240k
- 12+ YRS’ EXP 240k+
- SME & Commercial Banking (RM)
- 4 – 7 YRS’ EXP 55 – 108k
- 8 – 12 YRS’ EXP 108 – 180k
- 12+ YRS’ EXP 180k+
- Corporate Banking (RM)
- Digital Banking
- Digital Sales
- 4 – 7 YRS’ EXP 60 – 96k
- 8 – 12 YRS’ EXP 96 – 168k
- 12+ YRS’ EXP 168k+
- Digital Products
- 4 – 7 YRS’ EXP 72 – 120k
- 8 – 12 YRS’ EXP 120 – 204k
- 12+ YRS’ EXP 204k+
- Digital Sales
- MIDDLE & BACK OFFICE
- Operations
- Banking Operations
- 4 – 7 YRS’ EXP 36 – 96k
- 8 – 12 YRS’ EXP 96 – 144k
- 12+ YRS’ EXP 144k+
- Project/Change Management
- 4 – 7 YRS’ EXP 72 – 120k
- 8 – 12 YRS’ EXP 120 – 240k
- 12+ YRS’ EXP 240k+
- Strategy
- 4 – 7 YRS’ EXP 72 – 120k
- 8 – 12 YRS’ EXP 120 – 204k
- 12+ YRS’ EXP 204k+
- Customer Experience
- 4 – 7 YRS’ EXP 60 – 96k
- 8 – 12 YRS’ EXP 96 – 240k
- 12+ YRS’ EXP 240k+
- Data Analytics
- 4 – 7 YRS’ EXP 60 – 120k
- 8 – 12 YRS’ EXP 120 – 240k
- 12+ YRS’ EXP 240k+
- Banking Operations
- Finance
- Financial & Performance Management
- 4 – 7 YRS’ EXP 60 – 120k
- 8 – 12 YRS’ EXP120 – 180k
- 12+ YRS’ EXP 180k+
- Regulatory Reporting
- 4 – 7 YRS’ EXP 72 – 90k
- 8 – 12 YRS’ EXP 90 – 168k
- 12+ YRS’ EXP 168k+
- Capital Balance Sheet Management
- 4 – 7 YRS’ EXP 72 – 108k
- 8 – 12 YRS’ EXP 108 – 180k
- 12+ YRS’ EXP 180k+
- Business Finance
- 4 – 7 YRS’ EXP 60 – 102k
- 8 – 12 YRS’ EXP 102 – 168k
- 12+ YRS’ EXP 168k+
- Financial & Performance Management
- Insurance
- Actuarial – Pricing & Valuation
- 4 – 7 YRS’ EXP 90 – 180k
- 8 – 12 YRS’ EXP 180 – 264k
- 12+ YRS’ EXP 264k+
- Claims
- 4 – 7 YRS’ EXP 48 – 102k
- 8 – 12 YRS’ EXP 102 – 156k
- 12+ YRS’ EXP 156k+
- Underwriting
- 4 – 7 YRS’ EXP 48 – 102k
- 8 – 12 YRS’ EXP 102 – 168k
- 12+ YRS’ EXP 168k+
- Product Development
- 4 – 7 YRS’ EXP 48 – 108k
- 8 – 12 YRS’ EXP108 – 180k
- 12+ YRS’ EXP 180k+
- Actuarial – Pricing & Valuation
- Internal Audit
- Investment Banking/Treasury
- 4 – 7 YRS’ EXP 84 – 180k
- 8 – 12 YRS’ EXP180 – 216k
- 12+ YRS’ EXP 216k+
- Credit Audit
- 4 – 7 YRS’ EXP78 – 164k
- 8 – 12 YRS’ EXP 164 – 226k
- 12+ YRS’ EXP 226k+
- Branch/Corporate Services
- 4 – 7 YRS’ EXP 76 – 156k
- 8 – 12 YRS’ EXP 156 – 214k
- 12+ YRS’ EXP 214k+
- Investment Banking/Treasury
- Risk Management
- Market Risk
- 4 – 7 YRS’ EXP 87 – 181k
- 8 – 12 YRS’ EXP 181 – 249k
- 12+ YRS’ EXP 249k+
- Operations Risk
- 4 – 7 YRS’ EXP 88 – 174k
- 8 – 12 YRS’ EXP 174 – 246k
- 12+ YRS’ EXP 246k+
- Credit Risk
- 4 – 7 YRS’ EXP 88 – 174k
- 8 – 12 YRS’ EXP 174 – 240k
- 12+ YRS’ EXP 240k+
- Market Risk
- Compliance
- Regulatory/Compliance Advisory
- 4 – 7 YRS’ EXP 102 – 185k
- 8 – 12 YRS’ EXP 185 – 252k
- 12+ YRS’ EXP 252k+
- Monitoring/Assurance
- 4 – 7 YRS’ EXP 87 – 150k
- 8 – 12 YRS’ EXP 150 – 186k
- 12+ YRS’ EXP 186k+
- Project Compliance
- 4 – 7 YRS’ EXP 102 – 180k
- 8 – 12 YRS’ EXP 180 – 198k
- 12+ YRS’ EXP 198k+
- AML Policy/Advisory
- 4 – 7 YRS’ EXP 102 – 185k
- 8 – 12 YRS’ EXP 185 – 252k
- 12+ YRS’ EXP 252k+
- Transaction Monitoring
- 4 – 7 YRS’ EXP 87 – 126k
- 8 – 12 YRS’ EXP 126 – 180k
- 12+ YRS’ EXP 180k+
- KYC
- 4 – 7 YRS’ EXP 66 – 108k
- 8 – 12 YRS’ EXP 108 – 156k
- 12+ YRS’ EXP 156k+
- Regulatory/Compliance Advisory