The National ICT Association of Malaysia is expecting the region’s ICT to peg a double digit growth of 14.2% by the end of this year.
This figure is compared to the earlier figure of 12.5% growth seen in 2014.
The industry is expected to register this double digit growth despite the slow growing economic growth. The ICT professionals and other job-seekers in various niche areas of technology will be provided with a healthy increase in salaries as the prospects of growth are really high.
ICT is proving to be a major job market in the country. The market is booming due to the intensification of digitization and other transformation in processes. According to the Chairman of PIKOM, the industry in 2014 grew by a significant rate of 12.5%. Investment and trading of ICT services and products also play a major role in the growth.
The report states that the ICT industry in Malaysia will grow substantially in the coming years. The drive is due to the capital projects despite the external environment and recent developments in the global and domestic economy.
According to the report, ICT salaries are seeing a continuous momentum. They will rise by 7.9% and reach RM7,706 in 2014, as per predictions.
In the forecast period, 2010-2014, the pay packets have increased steadily too. The registered rate is 8.2%.
Many senior managers have enjoyed this hike in salaries by 9.5%. The juniors have enjoyed it by 8.1%. The Research Committee Chair said that senior executives and managers also enjoyed a raise of 7.2% and 6.7%, respectively.
Some of the industries where the ICT professionals were heavily paid were biotechnology, aerospace, science and technology. These sectors were followed by oil and gas.
There was a disparity in salary of 6.22 times between fresh graduates and managers. This factor called for a high demand for experienced professionals with limited talent pool in the country.
The report also shed light on the C-Level ICT professionals that drew around RM 30,000 to RM 45,000 every month. It highlighted the minimum and maximum salaries of CTOs and CIOs too.