(Kuala Lumpur, 26th) For many young people in Malaysia, a monthly salary of less than RM3000 makes it difficult to make ends meet, let alone cultivate a habit of saving.
According to the "Salary Enough to Make a Living" economic report, there is a significant wage disparity between young people living in urban and rural areas.
Noorshazlinah, a 24-year-old newcomer working in Shah Alam, Selangor, has been employed for 9 months and admits that saving RM200 a month is a fortunate situation.
“Even if I can save RM200 a month, it is a relief.”
She reveals her salary ranges between RM2000 to RM3000, which is enough to cover essential living expenses, phone bills, remittances to parents, transportation costs, and the high costs of daily meals in the Klang Valley.
“My job requires frequent mobility, so if I don’t manage my expenses well, I become stretched by the end of the month.”
Noorshazlinah states that salary increments are slim and insufficient to meet the soaring living costs in the city. Besides salary, her challenge is avoiding early-career debt traps.
“Without discipline, savings run out quickly. I am still single with no financial burdens, so even though it isn’t much, now is the time to build a foundation for my savings.”
Another 24-year-old, Amrul Fitri from Kelantan, works in Tanah Merah, Kelantan. His monthly income is RM1200, and because his workplace is close to home, he avoids high rent and transportation costs.
“I have been working for 4 months since graduating last December. My income is not high, but it's enough for meals, living expenses, and to give to some of my siblings.”
He says he allocates his income to savings, family expenses, and community savings on payday, using the remainder for daily needs.
“Living in the countryside has its cost advantages, but I don’t want to get too comfortable and will save for the future.”
The report shows that 65% of our bachelor’s degree graduates earn less than RM3000 a month, with many engaged in semi-skilled or low-skilled jobs, undermining the value of higher education and hindering social mobility.
The report recommends reforms to assess graduates' abilities, improve industrial modernization, and more precisely match skills to prevent young people from being trapped in low-wage jobs.
According to the "Salary Enough to Make a Living" economic report, there is a significant wage disparity between young people living in urban and rural areas.
Noorshazlinah, a 24-year-old newcomer working in Shah Alam, Selangor, has been employed for 9 months and admits that saving RM200 a month is a fortunate situation.
“Even if I can save RM200 a month, it is a relief.”
She reveals her salary ranges between RM2000 to RM3000, which is enough to cover essential living expenses, phone bills, remittances to parents, transportation costs, and the high costs of daily meals in the Klang Valley.
“My job requires frequent mobility, so if I don’t manage my expenses well, I become stretched by the end of the month.”
Noorshazlinah states that salary increments are slim and insufficient to meet the soaring living costs in the city. Besides salary, her challenge is avoiding early-career debt traps.
“Without discipline, savings run out quickly. I am still single with no financial burdens, so even though it isn’t much, now is the time to build a foundation for my savings.”
Another 24-year-old, Amrul Fitri from Kelantan, works in Tanah Merah, Kelantan. His monthly income is RM1200, and because his workplace is close to home, he avoids high rent and transportation costs.
“I have been working for 4 months since graduating last December. My income is not high, but it's enough for meals, living expenses, and to give to some of my siblings.”
He says he allocates his income to savings, family expenses, and community savings on payday, using the remainder for daily needs.
“Living in the countryside has its cost advantages, but I don’t want to get too comfortable and will save for the future.”
The report shows that 65% of our bachelor’s degree graduates earn less than RM3000 a month, with many engaged in semi-skilled or low-skilled jobs, undermining the value of higher education and hindering social mobility.
The report recommends reforms to assess graduates' abilities, improve industrial modernization, and more precisely match skills to prevent young people from being trapped in low-wage jobs.