Hefty salary jump in IT sector due to talent shortage

KUALA LUMPUR (Sept 13, 2013): The information technology (IT) industry, which saw the highest increase in the number of hot jobs for professional and technical skills compared with other sectors, is seeing an average salary increase of 16% to 25% a year, due to the critical shortage of skilled talent in Malaysia.

"We've seen the wage increment in IT jump between 16% and 25% year-on-year, which is quite high, considering that the general norm in the market is a 6% jump for the average salary," Kelly Services (M) Sdn Bhd managing director Melissa Norman said after the launch of its annual Employment Outlook and Salary Guide 2013/14 here yesterday.

In its findings, the employment agency said the number of hot jobs within the IT sector rose to 37, of which 31 were new jobs, compared with six in 2012/2013.

"There's a definite need within the technical space, which is IT and engineering, as the Economic Transformation Programme is driving skilled labour. We see IT and engineering (jobs) to surge," Norman said.

The Kelly Salary Guide 2013/2014 lists systems applications and products consultants, business intelligence consultants, pre-sales engineers and java developers to continue to be in demand in the IT sector.

Compared with the rest of Asia, Malaysia's average yearly IT incomes are behind Hong Kong (US$60,000) and Singapore (US$47,000).

Norman said there continues to be a critical shortage of skilled talent in technical sectors in Malaysia, especially in IT, engineering, banking and finance, and sales and marketing.

Other sectors that are witnessing critical shortages of skilled talent are manufacturing, telecommunications, renewable energy, as well as oil and gas.

The findings also revealed that the average annual salary jump for new hot jobs in 2013/2014 is between 9% to 22% for banking and finance, 9% to 28% for engineering and technical, and 6.6% to 16% for sales and marketing.