How much will the salary of 50 thousand ringgit in Malaysia be in India? Compare on the basis of currency conversion, purchasing power, tax, and standard of living. Know the career opportunities and salary structure of Indians in Malaysia.
Malaysia is one of the most attractive places for jobs and business in today's time. Every year thousands of Indians go to Malaysia for better salary and a standard of living. But have you ever wondered how much will the salary of 50 thousand ringgit in Malaysia be in India? Let's know about this in detail.
Know what is the currency conversion of Malaysia.
First of all, we have to understand what is the exchange rate between Malaysia's currency Ringgit, and Indian Rupee (INR).
Know what is the difference in purchasing power.
However, currency conversion alone does not reveal the full picture. There is also a significant difference in the cost of living and purchasing power between Malaysia and India. Living in Malaysia is more expensive than in India, especially in big cities like Kuala Lumpur. There is more expenditure on housing, transportation, health services, and education.
In terms of Purchasing Power Parity (PPP), a monthly income of around Rs 4.5 to 5 lakh in India would be sufficient to provide the standard of living that 50,000 ringgit provides in Malaysia. Income tax in Malaysia is lower than in India, but not zero (as in Dubai). Malaysia has a progressive tax structure, where higher incomes attract higher taxes.
On a monthly income of 50,000 ringgit, the annual income would be 6 lakh ringgit, which could result in a higher net income after tax deduction than in India. This is an important factor when comparing India and Malaysia. The direct currency conversion of a monthly salary of 50,000 ringgit in Malaysia is around Rs 9.88 lakh in India.
IT and engineers are in high demand in Malaysia.
The growing number of Indians in Malaysia has further increased their expertise in these fields. Software developers and network engineers are in demand in the IT sector, while accountants and financial analysts are needed in financial services. The role of civil engineers and project managers is important in engineering. The demand for doctors and nurses is also increasing in health care.
Indians are working more in these fields in Malaysia.
Thus, Malaysia is becoming an attractive place for Indian professionals, where they are getting good career opportunities. The increasing number of Indian professionals in Malaysia has brought a new twist to the job market there.
Malaysia is geographically and culturally connected to India.
While looking for a job opportunity abroad, not only salary but also quality of life, career development, social security and opportunities for family should be kept in mind. Malaysia can be a good option for Indians, especially for those who want to stay close to India geographically and culturally.