Saturday, March 30, 2019

MEF Dispute BNM's Salary Figures

The Malaysian Employers Federation have clarified that the starting salary for fresh graduates in the private sector in the country had been gradually increasing from 2010 to 2018 – contrary to the picture painted by Bank Negara Malaysia. 

(Check out yesterday’s blog post titled “Fresh Grads' Salaries in Decline, Says BNM”). 

The employers grouping data showed that a basic degree holder could earn a salary of RM2,393 in 2018 compared to RM1,993 in 2010 and a master’s degree RM3,267 as opposed to RM2,923. 

MEF Executive Director Shamsuddin Bardan (left) said the data was based on the MEF Salary Survey for Non-Executives and Executives 2010 and 2018 with data collected from participating member companies and published by MEF. 

He pointed out that Bank Negara Malaysia had analyzed and adjusted the MEF salary data to “real” terms, by taking into account factors such as Consumer Price Index – and this has put the Malaysian employers in a bad light. 

“Malaysian employers were blamed for not paying the newly employed enough starting basic salary”, he lamented. 

The Bank Negara Malaysia analysis of “real” wages may be useful for policy formulation but caused distrust and disharmony among employees and employers, he maintained. 

Hello Shamsuddin, I happen to believe that BNM are correct! We should look at real wages!

I was at the Lemongrass Café in WP Hotel in Jalan TAR, KL for TMIKL Toastmasters Club's Saturday morning meeting – and I presented my Ice-breaker speech titled I Don’t Know Victor Ong, which was for my CC Round 57. 

I was also an Evaluator for a Pathways Level One speech.

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