SCIENCE, computing and mathematics are lucrative but competitive fields.
The good news is that graduates in these science, technology, engineering and mathematics (STEM) sectors, according to a recent Khazanah Research Institute (KRI) report, can expect good starting salaries but securing a job may prove to be a challenge as vacancies are scarce.
Produced in collaboration with the Higher Education Ministry, the institute’s “Shifting Tides: Charting Career Progression of Malaysia’s Skilled Talents” report showed a growing share of science, mathematics and computing graduates earning a high starting pay of more than RM3,000 over the past decade.
Science, mathematics and computing graduates earning above RM3,000 increased by five folds between 2010 and 2021, the report read.
But while their earnings may be higher than their peers in other sectors, the report noted that science, mathematics and computing have one of the slowest increase rates in the share of working graduates.
“It might indicate a relatively serious shortage in opportunities for tertiary educated talents in this field,” the report suggested.
The report also identified engineering, manufacturing and construction as among the most popular fields of study with the highest share of working graduates at 64.3% in 2021.
“This is in line with a higher degree of employability among graduates with technical-related background, such as STEM or technical and vocational education and training (TVET).
“Numeracy skills (also) tend to translate into better wages for workers in STEM-related fields,” the report, published in March, read.
National STEM Association president and founder Emerita Prof Datuk Dr Noraini Idris said possessing digital and mathematics skills can lead to better pay.
“STEM graduates, especially, need to know technology such as artificial intelligence (AI), digital skills and of course, mathematics,” she told StarEdu.
This, she added, is in line with global trends where almost everything is automated or digital.
While the developed world has embraced technology, Prof Noraini said not many of the country’s industries are doing so.
This, she said, has resulted in the lack of jobs that pay well.
“Without automation, industries produce less output meaning they will not be able to pay skilled employees well.
“This is why our graduates leave for other countries. They have already been exposed to high-end technology in university or during their studies abroad but are unable to use what they have learnt here,” said Prof Noraini who is also Universiti Malaya STEM centre advisor and honorary professor.
“Our universities can train students well but can the industry supply them with enough well paying jobs?”
R&D talents needed
Prof Datuk Dr Ahmad Ibrahim from UCSI University Tan Sri Omar Centre for Science, Technology and Innovation (STI) Policy said while these sectors tend to be lucrative, a key component of science — research and development (R&D) — is not.
Parents, he said, are unlikely to advise their children to go into research because the pay is not encouraging.
This, he said, was unfortunate as the country is in need of such talents.
A shortage of innovative research is one of the reasons Malaysia is losing its competitive edge, he added.
“We live in an age where innovation is becoming more critical yet we have fewer people to do research and to come up with new technologies.
“Instead, our people are working with the available technologies and innovation that have been bought and brought in from overseas,” he said.
The few who choose to pursue R&D, Prof Ahmad said, are likely to leave the country to pursue their ambitions as the prospects are not bright locally.
“We are losing our talent to other countries, leading to brain drain,” he said, citing our southern neighbour as an example.
“Singapore has managed to attract many of our talents because the country has created the right environment, ecosystem and facilities,” he said, adding that the Singapore government also invests much of its resources into R&D.
The nation’s robust ecosystem has also led to them partnering with countries such as Germany to conduct R&D, he said.
Calling on the Malaysian government to lead the way in driving R&D, Prof Ahmad said local STI talents must be valued.
“The government needs to show that research talents are paid well here. Value them and provide good facilities so that they will want to stay and work in the country.
“The private sector will follow suit with similar measures but the government must set an example.
“Ultimately, we need to make science researchers a top profession like doctors and engineers who serve the country well in helping the nation progress and develop,” he added.
The creation of more high-skilled jobs is crucial as growing underemployment, and the resulting brain drain, threaten to derail Malaysia’s plans of achieving developed nation status by year 2025 (scan QR code).
To increase the number of high-skilled jobs, Malaysia Employers Federation (MEF) president Datuk Dr Syed Hussain Syed Husman called on the government to focus on attracting high-technology industries to the country.
These companies, he added, will create the high-skilled jobs we currently lack.“It would be difficult for Malaysian companies to create such jobs as the majority of them are small and medium enterprises (SMEs).
“We need the government to offer good incentives to attract foreign, high-tech companies here.
“But we must also realise that if such companies are based here, we must be able to meet their manpower needs.
“While many of our job seekers are degree holders, the skills required by these high-tech industries can only be gained on the job,” he said.
Not all jobs involving IT pay well. I am an IT support executive and my starting salary was RM2,800. This was two years ago.
My company is based in Subang Jaya and while the pay might be considered on par with others who graduated with me, it is just enough to get by in the city.
I earn about RM3,400 now but that is after I upskilled at my own cost because my company does not send staff for external training.
I may move to another company as I have heard that with my qualifications, I can get more at a bigger organisation.
– Joseph Tan, 26
I decided to study actuarial science because of the pay. I am now working as an actuarial analyst for an insurance company with a starting pay of RM3,900 — which is quite good for a fresh graduate.
My job mainly involves analysing and preserving datasets which can be challenging even with the help of software.
The job is not easy as it involves making large payouts to clients.
This is why the role pays well.
– Lim Swee Lee, 25
