How Much Do Computing & Technology Professionals in Malaysia Earn?
The salary that one gets from the career is one of the important factors in choosing your course to study in Malaysia. Students can consider the computer science or Information Technology (IT) field as the career is rewarding as job demand & salary are high. Furthermore, according to statistics, the pay is pretty good in Malaysia and the job prospects keep on increasing each year. Therefore, choosing to study a course in computer science, software engineering or information technology in Malaysia is an excellent choice as the future job demand and salary is fantastic. You can find out how much Malaysian computing & technology professionals earn from the Randstad Malaysia 2022 Market Outlook & Salary Snapshot. Read on below to find out.
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Randstad Malaysia 2022 Market Outlook & Salary Snapshot: Information Technology (IT)
At the onset of the COVID-19 pandemic, Malaysian businesses had to adopt technology to ensure business continuity.
Messaging platforms and collaboration tools like Slack, Zoom, and Microsoft Teams became essential for remote work and collaboration. But as businesses navigated their second year in the pandemic, their use of technology evolved. More than just a necessity for business continuity, technology played a leading role in business efficiency and productivity— essentials in today’s highly connected and competitive business landscape.
According to a Forrester survey conducted in late 2020, only 46% of firms in Malaysia were on a digital transformation journey. But due to the pandemic, 34% of firms with no digital transformation plans decided to kick them off in 2021. “Even traditional non-tech businesses, like retail companies, supermarkets, and real-estate firms, are investing in digitalisation.
This is because end-consumers are spending more time browsing the internet using their phones, so companies need to shift the way they do business,” Jonathan Sia, senior manager of digital and emerging technology recruitment for Randstad Malaysia, said. The Malaysian government has also taken strides to spur digitalisation even further. In February 2021, the government launched its digital blueprint—MyDIGITAL, a roadmap that charts the path towards Malaysia’s vision of becoming a regional leader in the digital economy.
Some of these initiatives include increasing the number of local data centres to provide high-end cloud computing services, rolling out 5G networks, and driving greater cybersecurity adoption. MyDIGITAL is expected to create 500,000 new job opportunities in the digital economy and, in effect, contribute 22.6% of Malaysia’s gross domestic product by 2030.
Four key areas of growth in the technology space
The pandemic, digitalisation, and changing consumer behaviours are reshaping Malaysia’s technology landscape. The information technology specialist team at Randstad Malaysia predicts four must-watch areas of technology growth in 2022.
E-commerce is seen as one of the bright spots driving Malaysia’s economic recovery, not just for its growing
popularity but also for its growth potential. Many brick and-mortar stores were able to continue their businesses throughout the lockdowns by taking them online. And with platforms like eBay, even micro, small, and medium businesses have a platform to compete in global markets.
As of Q2 2021, Malaysia’s e-commerce income grew 23.3% year-on-year, driven by the manufacturing and services sector. Total gross salaries paid within this sector also increased by 0.4%, equivalent to RM100.5 million.
As the e-commerce scene continues to expand with more merchants being onboarded and more customers
becoming more accustomed to shopping online, we expect to see stronger business growth and talent
demand in this space in 2022.
Randstad Malaysia predicts that demand in this sector will maintain its momentum in the years to come, even after the pandemic abates and social distancing measures are relaxed. As a result, companies specialising in e-commerce solutions are starting to strengthen their tech teams’ capabilities. Hence, product owners are rising in demand since companies need talent who can manage the full product development cycle.
Security is also a growing concern amongst e-commerce firms and merchants, with companies seeking talent in application security, DevSecOps, as well as cloud security professionals.
Fintech is another area that continues to experience significant growth due to changing consumer behaviour, movement control restrictions, and regulatory changes.
According to the Fintech Malaysia Report 2021, online and mobile banking penetration reached 112.5% and 61.8% respectively, with more than 3 million new mobile banking service subscribers and 400,000 new businesses registering for QR code payment acceptance in 2020.
“Fintech, such as e-wallets, is one of the sectors that has been growing over the last few years and is now
stabilising. While a few major players are still dominating the market, there are now lots of other smaller, Software as-a-Service (SaaS) companies that are coming up with new and innovative ideas as well as digitising services in a way that we never thought could be done in the past,” Ashraf Rafiuddin, senior recruitment manager, enterprise technology for Randstad Malaysia, said.
Rafiuddin cites Islamic banking as one of the emerging areas being disrupted by fintech. Some examples include Ethis, a Shariah-compliant equity crowdfunding platform; and As-Sidq, Sedania As Salam Capital and Islamic bank Mambu’s Tawarruq platform. With a Muslim population of about 19.5 million residing in Malaysia, Islamic fintech represents a sizeable opportunity for new fintech companies.
In 2020, SaaS conferencing was the easiest and quickest solution for companies to implement. According to
Sia, Malaysian companies are now leveraging cloud technologies to better navigate the digital economy.
For instance, the rise of SaaS-based customer relationship management platforms are creating more opportunities for companies to build their customer base and improve customer satisfaction.
Technology firms that offer online food deliveries services have also been growing in popularity. Businesses
like GrabFood and Foodpanda have expanded their technology solutions by leveraging cloud kitchens to onboard more merchants and increase food accessibility to customers. These on-demand services are expected to grow and expand around Klang Valley in tandem with the explosion of e-commerce.
“Cloud technology has been in demand in the last one to two years. While the demand is still there, the focus
has shifted greatly to cloud security. As a result, more companies are hiring cloud security engineers, DevOps, and DevSecOps engineers to strengthen their data security and compliance,” Rafiuddin said.
In relation to the rise of cloud technology, there is a huge demand for cybersecurity professionals today. As Malaysian firms of all shapes and sizes go digital and incrementally move their operations online, their
vulnerabilities to cyber threats have also increased.
In PwC’s Digital Trust Insights Survey 2021, cybersecurity is a growing concern for Malaysian organisations, with 70% of Malaysian business leaders saying cybersecurity and privacy are baked into every business decision. Unfortunately, there is a significant lack of cybersecurity experts in the country. In 2020, Malaysia recorded a shortage of 7,917 experts within the field. This is consistent with global trends, where the speed of digitalisation greatly outpaces the number of skilled talent. The government aims to resolve this shortage with plans of producing 20,000 cybersecurity knowledge workers by 2025 through the MyDIGITAL blueprint.
Talent trends in the Malaysian technology sector for 2022
As the country recovers from the pandemic, Malaysia’s job market is also starting to stabilise. Companies have since adapted to the new normal and are more comfortable with interviewing candidates virtually. However, they are now faced with a new challenge: hiring the right talent to navigate the new normal.
more opportunities for local talent.
The biggest HR challenge employers face is the talent crunch. Even though there are more candidates in the market, it does not necessarily mean they are equipped with the skills that employers are looking for.
Many companies previously reconciled the shortage by hiring foreign talent, but the Malaysian government’s MYfutureJobs initiative has made this much more challenging.
With the extension of the freeze on hiring foreign workers, companies must now compete with each other for top local hires and find alternative solutions to plug the knowledge gap. Randstad Malaysia suggests hiring skilled senior managers who are able to propagate knowledge throughout the organisation.
Companies should also invest in making training, certifications, and other modes of knowledge transfer more accessible to employees to upskill their existing workforce. in-demand tech skills and jobs in 2021 Aligned with the growing sectors in Malaysia’s digital economy, there is a rising demand for highly skilled talent
who specialise in cloud, security, and other emerging technologies. There will also be an increasing need for data engineers and scientists on top of software developers for medium to large companies looking to
leverage big data.
Employers are also seeking candidates with a whole new set of soft skills that are suitable for the new normal.
“Communication skills and work attitude are some of the important factors that companies look into when hiring a candidate. It’s not always about the technical skills; soft skills matter as well,” Rafiuddin said.
“Unfortunately, there are some candidates who aren’t able to present themselves well during virtual interviews. They may lack the charisma to engage interviewers or don’t have the presentation skills to properly demonstrate their expertise.”
Sia adds that this is one challenge of virtual hiring, “Many candidates look good on paper, but may not have the proper skill sets in practice.”
To overcome these hiring challenges, Randstad Malaysia recommends that companies upskill their hiring managers to be better at leading job interviews. This includes training them to ask the right questions so that they can evaluate the candidates’ ability to deliver on the job and their potential to be integrated into the organisation’s culture.
Candidates’ appetite for changing jobs
With the present talent scarcity, Malaysia will remain a candidate-driven market. Randstad Malaysia predicts that more talent will be moving companies or changing jobs in 2022.
“Especially with the rise in demand for new technologies and the increasing number of job opportunities in the technology arena, there will always be candidates who are looking to progress and upskill themselves. No one wants to be left behind with technologies that are no longer relevant. Hence, they’re looking for that experience by moving to a new organisation,” Rafauiddin added.
Candidate expectations are changing as well. They want to work for companies that are in stable or future-proof sectors, such as the aforementioned high-growth sectors. They also prioritise better employee benefits that can provide them with job security and a health safety net.
Lastly, flexible or remote work options have become much more important, particularly when the pandemic has ultimately proven to many employers that work is more about what you do, and not where you do it.
“Companies that are unwilling to change; that are sticking to how they were operating before the pandemic, those companies will be seeing much higher turnover rates. Candidates from those companies will be looking to move to a more future-ready or forward-looking company,” Rafauddin said.
Ranstad Malaysia 2021 Market Outlook & Salary Snapshot: Information Technology (IT)
Education Pathway to a Top Computing & Technology Course in Malaysia
Choosing the right course to study in Malaysia after secondary school is one of the most important decisions you can make in your life. There are many types of information technology (IT) or computing programmes that students can choose from. Find out about the different information technology (IT) or computing courses available at top private universities in Malaysia, how your choice relates to your future career and what the best bets are if you want to keep your career options open.
Most top private universities in Malaysia offer a selection of Foundation, Diploma & Degree courses in information technology (IT) or computing. Students after SPM or IGCSE/O-Levels may go for the Foundation in Computing or Information Technology at top private universities in Malaysia for 1 year before continuing on to the 3-year Software Engineering or Information Technology (IT) degree.
With 3 credits in SPM or IGCSE/O-Levels including Maths, students may go for the 2-year Diploma in Information Technology, Diploma in Computer Studies or Diploma in Software Engineering and then enter into Year 2 of the Information Technology (IT) degree. Pre-University students with the relevant results in STPM, A-Levels, SAM, CPU, AUSMAT, etc. can enter directly into Year 1 of the Information Technology (IT) degree at the best university in Malaysia.
Established since 2009, EduSpiral Consultant Services is a top recruitment agent for top private universities in Malaysia and private colleges in Singapore 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, O-Levels, UEC, STPM, A-Levels or Pre-University. We research on articles and information to help them make the right choices about choosing their career and course in Information Technology (IT).
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