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TVET Wages for Malaysia: MEDIUM

TABLE 1

Explanation and Meaning

• Income Economy (MEDIUM): Malaysia's economy is moderately developed, providing average wages compared to higher-income economies. This suggests that while TVET graduates can earn decent wages, they may not be as high as those in more developed countries.

• Skills Demand (MEDIUM): There is a moderate demand for skilled workers in Malaysia. This demand affects TVET wages, indicating that TVET graduates with the right skills are valued but not as highly sought after as in some higher-income economies.

• Government Policies (MEDIUM HIGH): The Malaysian government has relatively favorable policies toward TVET, with initiatives to enhance education and training. This support can lead to better wages for TVET graduates, but there is still room for further policy improvements.

• Labor Market Dynamics (MEDIUM): The labor market in Malaysia is moderately dynamic, offering some opportunities for career advancement and wage growth for skilled workers, including TVET graduates.

• Cost of Living (MEDIUM LOW): The cost of living in Malaysia is relatively low, which can positively impact the real value of TVET wages. Lower living expenses mean that wages can go further in maintaining a decent standard of living.

Conclusion

Based on the TWAGES evaluation, Malaysia has moderate TVET wages influenced by its medium-level income economy, skills demand, and government policies. While wages for TVET graduates are reasonable, there is potential for improvement, particularly in terms of policy support and labor market opportunities.

Suggestions for Improvement

1. Income Economy: Efforts to boost the overall economy through industrialization and economic diversification can help raise wages across the board, including for TVET graduates.

2. Skills Demand: Increase collaboration between industries and TVET institutions to ensure that graduates possess in-demand skills, enhancing their employability and wage prospects.

3. Government Policies: Further strengthen government policies supporting TVET, including increased funding and initiatives to promote public-private partnerships in vocational education.

4. Labor Market Dynamics: Enhance labor market flexibility and opportunities for career advancement to ensure that skilled workers, including TVET graduates, can achieve better wage growth.

5. Cost of Living: Continue to monitor and manage living costs to ensure that wages maintain their real value, enabling TVET graduates to sustain a good standard of living.

Summary

The table results indicate that Malaysia's moderate income economy, supportive government policies, and manageable cost of living contribute to reasonable TVET wages. However, by enhancing economic growth, aligning skills training with market demands, and improving labor market opportunities, TVET wages in Malaysia can be further improved to better support graduates' livelihoods.

TABLE 2

Explanation:

In Malaysia, the monthly salary range for a certified electrician with 5 years of experience is approximately $720 to $1,200 USD. For a certified chef with the same level of experience, the monthly salary range is around $600 to $1,080 USD. These wages are considered medium for Malaysia, indicating that while they are above the national average, they are not exceptionally high compared to other professions or regions within the country.

\*It's important to note that these salary ranges are approximate and can vary based on factors such as the specific job role, location within the country, and the employer. For the most accurate and up-to-date information, individuals should consult local job listings, recruitment agencies, or official sources.*