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Study: Oversupply of Graduates are Forcing Fresh Grads to Opt for Low-Paying Jobs That Pay Less Than RM2K

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Source: X | NewsBFM & 123RF

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Furthering your studies in Malaysia sets you up for success in many ways. You’ll find better job opportunities and potentially land a well-paying job and start off with a higher salary.

In a recent news update by @NewsBFM, it was reported that Malaysia has an overwhelming number of graduates who are overqualified for their jobs.

Screenshot 2024 03 05 170732
Source: X | NewsBFM

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Source: 123RF

For illustration purposes only

According to a recent report from the Khazanah Research Institute, the presence of overqualified graduates leads to a mismatch, compelling many to accept lower-skilled jobs with low starting pay.

NSTOnline also reported that more than one-third of Malaysia’s local graduates who initially find themselves in mismatched jobs tend to remain in this predicament over time.

Screenshot 2024 03 05 171615
Source: X | NewsBFM

“Since starting off on the wrong foot in one’s career can have lasting effects on future job prospects, it highlights the importance of last-mile active labor market initiatives to help smooth the transition from education to employment,” said Hawati Abdul Hamid, the lead author of the report.

Screenshot 2024 03 05 171743
Source: X | NewsBFM

In the post, it was also reported that in 2021, 65% of graduates started under RM2,000, with only 10% earning above RM3,000. This mirrors 2010, where 72.5% began below RM2,000.

Student enrolment has multiplied nearly 26 times, reaching 1.2 million in 2020. However, by 2022, only 24% of graduates secured high-skilled jobs.

 

You can read the full report down below:

Malaysia is known for having a major focus on education and studies. However, given the current circumstances, let’s remain hopeful that appropriate actions will be taken.

What are your thoughts on this? Let us know in the comments down below!

 

Also read: Khazanah Nasional’s Entire Board Of Directors Have All Officially Resigned

Khazanah Nasional'S Entire Board Of Directors Have All Officially Resigned - World Of Buzz 1

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



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