In a positive development for fresh graduates, official statistics show that the average monthly salary for 2024 climbed to RM 5,330 — up from RM 4,933 in 2023, representing a growth of 8.1%.
The increase signals improving employment conditions and stronger bargaining power for new entrants into the workforce.
According to The Star, the country’s chief statistician at Department of Statistics Malaysia (DOSM) noted that the median salary for the cohort also rose, albeit more modestly — from RM 4,409 in 2023 to RM 4,521 in 2024, a growth of 2.5%.
Regional breakdowns
Looking at regional breakdowns, Putrajaya topped the list for average monthly salary at RM 6,471, followed by Kuala Lumpur at RM 6,212 and Selangor at RM 5,693.
These represent year-on-year growth rates of 6.4 %, 7.5 % and 6.3 % respectively.
Meanwhile, for median salaries the highest three areas were Kuala Lumpur at RM 5,888 (up 3.4 %), Putrajaya at RM 5,723 (up 15.3 %) and Selangor at RM 5,207 (up 8.7 %).
22.3% of the workforce were graduates
Graduate numbers rose to 5.98 million in 2024, with unemployment easing from 3.4% to 3.2%. About 22.3% of the country’s employed workforce were graduates, with 5.14 million of them in jobs and an 86% labour force participation rate.
Bachelor’s degree holders made up 54.9% of graduates (3.28 million), while diploma holders accounted for 45.1% (2.70 million). Employment grew 5.4% among bachelor’s graduates and 3.2% among diploma holders, reflecting better job opportunities.
Total employed graduates rose from 4.76 million in 2023 to 4.98 million in 2024, a 4.6% increase. Most worked in skilled roles (67.8% or 3.38 million), while 31% were in semi-skilled jobs and just 1.2% in low-skilled work.
Employees made up 86.4% of the graduate workforce, with employers at 5.6% and the self-employed at 7.2%.
Despite stronger numbers, skill mismatch remains a concern, and efforts are underway to better align graduate qualifications with industry demand. The data shows steady improvement, though structural challenges continue to shape the graduate job market.
