Interview Industry
Accounting
Ho Foong Moi Chief Executive Officer Malaysian Institute of Accountants
What are the career options and salary trends for someone joining the accountancy sector in Malaysia? Career options for accountants are endless. This is due to the fact that the accountancy is regarded as one of the most flexible and highly respected professions. Having a significant part to play in various industries and organisations, demand for competent accountants involved in decision-making within an organisation remains buoyant. Accountancy is a diversified profession involving areas such as accounting, finance, auditing, tax consultancy, risk management and strategic management, auditing, corporate intelligence and care, corporate recovery, insolvency, mergers and acquisitions, corporate finance, corporate treasury, environmental auditing, forensic accounting, information communication technology and financial planning. In general, accountants in Malaysia can be found working in these following sectors: • Professional accountants in business;
HOW MUCH CAN I EARN? Public Sector Diploma Level - Gred W27 (P1 - RM1,677.08) LCCI - Gred W27 (P1 - RM1,892.68) Degree Level - Gred W41 Recognised local accountancy degree or recognised professional qualification (P1 RM2,650.63) Recognised local accountancy degree with recognised professional qualification (P1 RM2,754.41) With MIA membership (P1 - RM2,858.19) Public Practice Big Four (KPMG, EV, PwC, Deloitte) - RM2300 to RM2800 Small/Medium - RM800 to RM1800 Commercial RM1600 to RM3,000 (depending on the size of the company)
• Accountants in public practice; • Accountants in public sector; and
AVERAGE SALARY GUIDE (RM) IN ACCOUNTACY
• Accountants in academia. With high demand from various industries, it is a known fact that competent accountants are well compensated or rewarded, especially those having special expertise and knowledge in strategic areas. Fresh accounting graduates with no experience may expect a salary of between RM2,000 and RM3,000. Starting salaries will be affected by the size of hiring firms and also locality of employers i.e. probably lower pay in smaller cities and towns. In addition, Individual capabilities, characters and personalities would normally be properly evaluated. A random study conducted by the industry, which was made available to MIA, highlighted the following salary structure:
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EASYUNI Guide 2013
Roles
Qualifications
Years’ Experience
Expected Salary
Finance & Administrative Manager
Degree/Postgraduates/ Diploma/Professional Degree
5 years’ experience
7,000 - 10,000
Internal Audit Manager
Degree in Finance/ Accountancy/Banking
5 years’ experience
7,000 - 10,000
Accountant (Senior)
Diploma/Degree/ Professional Certificate
8 - 10 years’ experience
7,000 - 10,000
Finance Manager
Degree in Finance/ Accountancy/Banking
6 - 7 years’ experience
5,500 - 8,500
Audit (Senior)
Degree/Professional Certificate
4 - 5 years’ experience
5,000 - 8,000
Financial Analyst
Degree in Finance/ Accountancy/Banking
2 - 4 years’ experience
3,000 - 5,000
Accountant Executive
LCCI Intermediate/ Diploma/ Professional Certificate
1 - 3 years’ experience
2,500 - 4,000
Team Leader Accountants
Diploma/Degree in Finance/Accountancy/ Banking
3 - 4 years’ experience
3,000 - 4,000