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Find Out What’s the Job Demand for Financial Services in Malaysia so that You can Choose the Right Course to Study

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Choosing to study a Finance, Banking & Investment course that has future potential high job demand and salary would ensure that you have a higher chance of a successful career that would support your lifestyle goals. One of the main aims of studying is to find a stable job that has a good future career and high salary in order to take care of yourself and your family.

Unemployed youth make up almost 60 percent of the 504,000 currently unemployed. The prime reason for graduate youth unemployment is the mismatch of graduate qualifications with the country’s workforce needs. Graduate unemployment was 9.6 percent or 204,000 at the end of 2018.

Graduates being left behind, possess outdated information and lacking in relevant skills required by the industry, thus contributing to the rising unemployment rate. Therefore, if you don’t plan carefully, you may end up studying a business course that has no job demand after you graduate. This would be an incredible waste of your time and money.

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What is the Job Demand for Finance, Banking & Investment in Malaysia?

EduSpiral advised me to study Finance because it had high job demand & salary. Darren, Finance & Investment Graduate from UCSI University — EduSpiral advised me to study Finance because it had high job demand & salary.
Darren, Finance & Investment Graduate from UCSI University

And, with financial institutions strengthening their governance structures, positions to manage anti-money laundering activities, sales and regulatory compliance, are opening up. New rules and regulations for financial institutions are being introduced, so, there’s a greater demand for risk managers and compliance professionals.

Candidates who are able to reduce financial institutions’ exposure to risk will stand out as employers step up their efforts to ensure they adhere to regulatory requirements. Risk and compliance will be two hot areas where fierce competition will take place for the right candidate

First, there was the enactment of the Central Bank of Malaysia Act 2009 and Financial Services and Islamic Financial Services Acts of 2013 which led to stricter legal and regulatory requirements. Then, there were continued and consistent efforts to strengthen risk management, governance and effective supervision. A combination of the two has resulted in a growing demand in risk, compliance, governance and audit roles in this sector.

Skilled finance, banking & investment professionals are projected to remain in high demand in Malaysia’s accountancy & finance job market as employers grow their businesses and add more value for clients. Strong demand exists for qualified graduates in finance, banking & investment possessing critical thinking skills, innovative, interpersonal communication skills and a strong command of the English language.

Although Malaysia’s finance sector is growing steadily the supply of talent has begun to decrease. That’s not good news especially now that Malaysia needs more finance talents in preparation for the Tun Razak Exchange (TRX) which is set to bolster the country’s economic landscape.

TRX, Malaysia’s version of Wall Street, will bring together local and overseas financial institutions and other corporations in a single area. The country is said to require 40,000 qualified financial talents by 2020 yet about 56,000 new finance industry jobs will be available in the next 10 years. That’s not nearly enough.

By 2020, the Malaysian financial services sector is predicted to create 275,400 new jobs, with positions relating to accounts, investments, international trade, sales and marketing and economics becoming widely available.

Therefore, if you have decided on studying a degree in Finance, Banking & Investment, you have made the best choice for a solid future career. Just make sure that you choose the best university in Malaysia for you Finance, Banking & Investment studies.

What is the Job Demand for Banking & Financial Services in Malaysia?

Finance & Investment Graduate from UCSI University — EduSpiral advised me to study Finance because it had high job demand & salary.
Darren, Finance & Investment Graduate

The Financial sector stands as one of the largest sectors in Malaysia with more than 300,000 people employed. This sector is made up by professionals in the Accounting, Banking, Economics, Finance, Insurance and Statistics and Taxation sub-sectors. An important industry for the country, it contributes up to 11 percent of the nation’s Gross Domestic Product (GDP).

The role of the financial sector is envisioned to continue growing to be a key driver and catalyst of Malaysia’s economic progression.

This sector is projected to be more competitive, dynamic, inclusive, diversified, and integrated, with the ability to offer world class financial services, in terms of breadth, depth and quality to serve the needs of Malaysia.

Worldwide, the financial services sector records the highest earnings and drives a country’s economic growth. The Financial sector stands as one of the largest sectors in Malaysia with more than 300,000 people employed. This sector is made up by professionals in the Accounting, Banking, Economics, Finance, Insurance and Statistics and Taxation sub-sectors. An important industry for the country, it contributes up to 11 percent of the nation’s Gross Domestic Product (GDP).

Here and around the world, jobs in finance are among the most stable careers. University of California San Diego even cited it as one of the Hottest Careers. Although Malaysia’s finance sector is growing steadily the supply of talent has begun to decrease.
That’s not good news especially now that Malaysia needs more finance talents in preparation for the Tun Razak Exchange (TRX) which is set to bolster the country’s economic landscape.
TRX, Malaysia’s version of Wall Street, will bring together local and overseas financial institutions and other corporations in a single area.
Malaysia will have one of the largest finance hubs in the region, specifically the Tun Razak Exchange, to be built in the heart of Kuala Lumpur’s commercial district. The hub will incorporate technologies including district-wide digital connectivity, enhanced energy, water and waste management systems, and e-services in its residential and commercial properties.‘This project alone has opened a large number of vacancies for finance professionals now and also the near future.
The country is said to require 40,000 qualified financial talents by 2020 yet about 56,000 new finance industry jobs will be available in the next 10 years. That’s not nearly enough.

The role of the financial sector is envisioned to continue growing to be a key driver and catalyst of Malaysia’s economic progression. This sector is projected to be more competitive, dynamic, inclusive, diversified, and integrated, with the ability to offer world class financial services, in terms of breadth, depth and quality to serve the needs of Malaysia.

The most high paying salary areas in finance in Malaysia are:

pension fund management
life insurance
investment funds management
financial institutions.

Banking is also an ideal launching pad for those who are aiming to achieve their ultimate goal of becoming big players. Those who specialise in investment can work as stock and bond brokers, traders and company investment analysts.

In today’s ever-changing world, finance graduates are highly sought-after in a cross-section of industries which each offer a variety of job opportunities. Therefore, having a finance qualification can lead to a rewarding career. A fast-track career in finance depends on a good understanding of market movements and the diverse investment market.