The job market is expected to expand in 2024 as the country is projecting economic growth of about 4% to 5%. According to the Statistics Department, the country’s unemployment rate stood at 3.4% in 2023, indicating a healthy employment trend similar to pre-pandemic levels.
Based on an MIDF report, job vacancies of 94,000 were at a 3-year low in 2023. A large number of these vacancies were in the services sector, contributing around 60%, while manufacturing and construction accounted for 20% and 10%, respectively.
Other than the jobs in these traditional sectors, here are some of the high-demand jobs across 6 job sectors that are expected to do well in 2024.
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Information Technology
With increased adoption of digital technology across industries and at a society-level, the information technology sector is expected to contribute around 22% of Malaysia’s gross domestic product (GDP) in 2024. This will create a continuous demand for jobs in the IT sector in various roles, such as software engineers and game developers.
According to Randstad Malaysia’s Job Market & Salary Guide Report, the country needs skilled cyber talents to manage cyber threats and attacks that are becoming more prevalent.
| Jobs | Years | Low Salary Range (RM) | Medium Salary Range (RM) | Upper Salary Range (RM) |
| Cybersecurity engineers detect threats in software and come up with solutions to protect it from attacks. |
1 – 5 | 3,000 | 5,500 | 8,000 |
| Software engineers develop and test computer software for companies in different industries. |
1 – 2 | 3,500 – 4,000 | 4,500 – 5,000 | 5,000 – 6,000 |
| 3 – 5 | 5,000 – 6,000 | 6,000 – 8,000 | 8,000 – 10,000 | |
| Data engineers develop systems to harvest data that a company can use for evaluating and elevating performance. | 2 – 5 | 5,000 – 7,000 | 7,000 – 9,000 | 9,000 – 12,000 |
| Automation testers develop software solutions and conduct test cases and improve a company’s software. | 2 – 4 | 6,000 – 8,000 | 8,000 – 11,000 | 11,000 – 14,000 |
| Game developers create game designs and transform them into a code version that is playable. | 3 – 5 | 6,000 – 7,000 | 7,000 – 9,000 | 9,000 – 15,000 |
| Cloud DevOps engineers create and manage cloud infrastructures. | 1 – 3 | 4,000 | 6,000 | 8,000 |
| 4 – 8 | 8,000 | 12,000 | 18,000 |
Source: Randstad
Oil And Gas
Malaysia is increasingly investing in sustainable energy and aims to source 40% of its energy needs from renewable sources by 2035.
This is likely to increase demand for traditional roles in the oil and gas sectors, including renewable energy, as well as emerging job functions that leverage AI and big data to improve efficiency.
| Jobs | Years | Low Salary Range (RM) | Medium Salary Range (RM) | Upper Salary Range (RM) |
| Drilling engineers manage the drilling of oil and gas wells from drafting plans to calculating the costs. | 1 – 4 | 3,500 | 4,500 | 5,000 |
| Mechanical engineers build and maintain equipment for exploration, production and transportation of oil and gas such as drilling rigs, compressors and pipelines. | 5 – 7 | 5,000 | 8,000 | 10,000 |
| Piping engineers design the piping for carrying oil and gas and ensure that it fulfils safety and other conditions. | 5 – 7 | 5,000 | 8,000 | 10,000 |
| Petroleum geologists look for oil and gas reserves and drill them to extract natural deposits. | 1 – 4 | 3,500 | 4,500 | 6,000 |
| 5 – 8 | 7,000 | 8,000 | 12,000 | |
| Reservoir engineers use geological data to plan for recovery of oil and gas such as suggesting locations of wells. | 1 – 4 | 3,500 | 4,500 | 6,000 |
| 5 – 8 | 7,000 | 8,000 | 12,000 |
Source: Randstad
Human Resources (HR)
Due to affordable operational costs, Malaysia has become a viable location for global shared services including HR functions. Some of the in-demand job roles in this sector are as follows:
| Jobs | Years | Low Salary Range (RM) | Medium Salary Range (RM) | Upper Salary Range (RM) |
| HR executives are involved in a company’s manpower planning from recruitment to creating workplace guidelines. | 1 – 3 | 2,500 – 3,000 | 3,000 – 4,000 | 4,000 – 5,000 |
| 4 – 5 | 4,000 – 5,000 | 5,000 – 7,000 | 7,000 – 8,000 |
Source: Randstad
Legal
Aside from shared HR services, more companies are also looking to develop regional legal hubs. This will prompt demand for legal executives who have regional experience.
| Jobs | Years | Low Salary Range (RM) | Medium Salary Range (RM) | Upper Salary Range (RM) |
| Legal executives offer legal solutions to clients, research laws and draft legal documents. | >3 | 5,000 | 5,000 | 7,000+ |
| >4 | 7,000 | 10,000 | 12,000+ |
Source: Randstad
Sales
Sales executives play an important role in a company where they help the company grow its market outreach, build relationships with clients and bring in revenue. According to JobStreet by Seek’s Hiring, Compensation & Benefits Report, some of the top hirings in 2023 were the following sales positions:
| Jobs | Average Salary Range (RM) |
| Sales executives identify potential clients, build network and promote a company’s products or services to clients. |
3,400 – 4,500 |
| Sales managers oversees their team operations, track the team’s progress and provide guidance to team members. |
5,800 – 8,300 |
Source: Jobstreet by Seek
Accounting
One of the most important aspects of a business is ensuring that its finances are well-managed. Accountants have the financial skills to help a company maintain its financial position, perform analysis and supply data that a company needs to make well-informed business decisions. Here are some in-demand roles in the accounting sector:
| Jobs | Average Salary Range (RM) |
| Account assistants perform tasks such as maintaining ledgers, handling financial statements and other administrative duties. |
2,300 – 3,000 |
| Account managers are responsible for tax filing, budgeting, financial reporting and advising a company on its financial position. |
5,000 – 7,000 |
Source: Jobstreet by Seek
Job Sectors Trending In 2024
With more companies undergoing digital transformation, you can expect an increasing demand for talents in the IT industry such as jobs linked to AI, cloud solutions and cybersecurity.
Malaysia is also experiencing growth in digital economy so jobs related to online shopping could be in demand. Since the pandemic, healthcare has become a priority among Malaysians, which could prompt increase in jobs in healthcare technology and biotechnology.
Read Also: Salary Guide For Public School Teachers In Malaysia
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