Average Fraud Detection Associate Salary in Malaysia for 2024

In this article, we will look at the average Fraud Detection Associate salary for 2024 in Malaysia and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Malaysian ringgit. To keep things simple, we are using the MYR currency code instead of the currency symbol RM.

How Much Does a Fraud Detection Associate Make in Malaysia?

A Fraud Detection Associate working in Malaysia will typically earn around 64,300 MYR per year, and this can range from the lowest average salary of about 32,200 MYR to the highest average salary of 99,340 MYR.

Average Annual Salary
64,300 MYR
Average Monthly Salary
5,358 MYR

Lowest Annual Salary
32,200 MYR
Lowest Monthly Salary
2,683 MYR

Highest Annual Salary
99,340 MYR
Highest Monthly Salary
8,278 MYR

These are average salaries for a Fraud Detection Associate in Malaysia and include benefits such as housing and transport. It's also possible for a Fraud Detection Associate to earn more or less than the average salaries shown above.

Fraud Detection Associate salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Fraud Detection Associate Salaries in Malaysia

So we've looked at the average salaries a Fraud Detection Associate will earn in Malaysia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Fraud Detection Associate can earn between 32,200 MYR and 99,340 MYR on average in Malaysia. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Fraud Detection Associate in Malaysia is 64,300 MYR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 64,300 MYR, and 50% of the population earn more than 64,300 MYR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Fraud Detection Associate salary in Malaysia, 25% of the population are earning less than 43,260 MYR while 75% of the population earn more than 43,260 MYR.

75% of the population earn less than 83,020 MYR, and 25% of the population earn more than 83,020 MYR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Fraud Detection Associate Salary by Experience Level in Malaysia

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average fraud detection associate salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Fraud Detection Associate in Malaysia that has less than two years of experience can expect to earn somewhere in the region of 38,060 MYR.
  • 2 - 5 Years Experience. With two to five years of experience the average Fraud Detection Associate salary would increase to 49,020 MYR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Fraud Detection Associate, the average salary would be 67,360 MYR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 80,020 MYR.
  • 15 - 20 Years Experience. A Fraud Detection Associate with 15 to 20 years of experience can earn an average of 88,580 MYR.
  • 20+ Years Experience. For a Fraud Detection Associate with more than 20 years, the expected average salary increases to 91,840 MYR.

Average Salary by Experience Chart

0-2 Years
38,060 MYR
2-5 Years +32%
49,020 MYR
5-10 Years +34%
67,360 MYR
10-15 Years +19%
80,020 MYR
15-20 Years +8%
88,580 MYR
20+ Years +7%
91,840 MYR

Fraud Detection Associate Salary by Education Level in Malaysia

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Fraud Detection Associate in Malaysia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Fraud Detection Associate in Malaysia with a bachelor's degree education can earn an average salary of 52,880 MYR.

  • Master's Degree. A Fraud Detection Associate in Malaysia with a master's degree education can earn an average salary of 86,520 MYR.

Average Salary by Education Chart

Bachelor's Degree
52,880 MYR
Master's Degree +58%
86,520 MYR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Malaysia is around 32,900 to 98,800 MYR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Fraud Detection Associate Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Malaysia, a male fraud detection associate will earn an average of 65,760 MYR, while a female fraud detection associate will earn around 60,600 MYR.

This means that a male fraud detection associate earns approximately 9% more than a female fraud detection associate for performing the same job.

Average Salary by Gender Chart in Malaysia

Male
65,760 MYR
Female -9%
60,600 MYR

Fraud Detection Associate Average Pay Raise in Malaysia

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Fraud Detection Associate in Malaysia is around 12% every 16 months.

The national average pay raise across all professions and industries in Malaysia is around 9% every 17 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 16 ) × 12  = 9%

What this means is that a Fraud Detection Associate in Malaysia can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in Malaysia for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Malaysia.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Fraud Detection Associate Bonus and Incentive Rates in Malaysia

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Fraud Detection Associate is a moderate bonus based job, with 54% of employees reporting at least one bonus in the last 12 months.

46% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
54%
No Bonus
46%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Malaysia earn approximately 11% more than private sector employees in the same role.

Public Sector
81,960 MYR
Private Sector -11%
73,820 MYR

Salaries for Jobs Similar to a Fraud Detection Associate

In the table below, we have salary information for jobs that are similar to a Fraud Detection Associate in Malaysia.

Job Title Category Salary
AML Analyst Banking 119,900 MYR
Assistant Bank Branch Manager Banking 104,620 MYR
Assistant Bank Manager Banking 138,800 MYR
ATM Manager Banking 123,400 MYR
ATM Service Technician Banking 31,340 MYR
Bank Accounts Analyst Banking 47,120 MYR
Bank Accounts Collector Banking 28,900 MYR
Bank Accounts Controller Banking 62,100 MYR
Bank Accounts Executive Banking 83,100 MYR
Bank Accounts Manager Banking 102,460 MYR
Bank Auditing Manager Banking 104,900 MYR
Bank Branch Manager Banking 139,100 MYR
Bank Branch Operations Coordinator Banking 60,180 MYR
Bank Clerk Banking 25,660 MYR
Bank Client Service Associate Banking 38,340 MYR
Bank Collector Banking 30,700 MYR
Bank Compliance Specialist Banking 77,400 MYR
Bank Manager Banking 172,200 MYR
Bank Operational Risk Manager Banking 161,600 MYR
Bank Operations Head Banking 163,800 MYR
Bank Operations Officer Banking 65,080 MYR
Bank Operations Specialist Banking 98,120 MYR
Bank Process Manager Banking 93,600 MYR
Bank Product Manager Banking 108,320 MYR
Bank Programme Manager Banking 114,900 MYR
Bank Project Manager Banking 136,200 MYR
Bank Propositions Manager Banking 119,700 MYR
Bank Quantitative Analyst Banking 86,740 MYR
Bank Regional Manager Banking 172,200 MYR
Bank Regional Risk Officer Banking 92,240 MYR
Bank Relationship Manager Banking 129,000 MYR
Bank Relationship Officer Banking 55,020 MYR
Bank Teller Banking 31,660 MYR
Banker Banking 61,400 MYR
Banking Business Analyst Banking 88,480 MYR
Banking Business Development Officer Banking 55,220 MYR
Banking Business Planning Executive Banking 119,860 MYR
Banking Product Manager Banking 105,940 MYR
Banking Reference Data Manager Banking 99,340 MYR
Banking Risk Analyst Banking 82,720 MYR
Banking Technical Analyst Banking 45,580 MYR
Bankruptcy Coordinator Banking 62,100 MYR
Bill and Account Collector Banking 31,540 MYR
Budget Analyst Banking 88,600 MYR
Capital Risk Manager Banking 168,100 MYR
Cards Marketing Manager Banking 110,120 MYR
Cash Management Manager Banking 157,600 MYR
Check Processing Manager Banking 118,060 MYR
Commercial Vault Associate Banking 85,940 MYR
Corporate Banker Banking 66,000 MYR
Corporate Dealer Banking 93,600 MYR
Credit Analyst Banking 69,040 MYR
Credit and Collections Manager Banking 114,900 MYR
Credit Card Fraud Investigator Banking 89,120 MYR
Credit Portfolio Manager Banking 159,400 MYR
Credit Risk Analyst Banking 98,440 MYR
Credit Risk Associate Banking 98,140 MYR
Direct Bank Sales Representative Banking 64,300 MYR
Exchange Control Consultant Banking 95,760 MYR
Executive Account Analyst Banking 90,980 MYR
Financial Bank Planning Consultant Banking 115,260 MYR
Financial Banking Analysis Manager Banking 125,700 MYR
Financial Banking Assistant Banking 44,180 MYR
Financial Banking Systems Manager Banking 124,400 MYR
Foreign Exchange Manager Banking 124,400 MYR
Fraud Analyst Banking 94,800 MYR
Fraud Detection Manager Banking 139,100 MYR
Fraud Detection Supervisor Banking 78,480 MYR
Internal Bank Audit Manager Banking 159,100 MYR
Internal Bank Auditor Banking 88,580 MYR
Internal Private Banker Banking 60,880 MYR
International Banking Manager Banking 172,200 MYR
Investment Banking Analyst Banking 128,500 MYR
Loan Analyst Banking 84,560 MYR
Loan Area Manager Banking 104,080 MYR
Loan Audit Team Leader Banking 96,600 MYR
Loan Branch Manager Banking 97,840 MYR
Loan Business Development Officer Banking 52,880 MYR
Loan Clerk Banking 31,540 MYR
Loan Collection and Recovery Manager Banking 106,780 MYR
Loan Collection Manager Banking 103,840 MYR
Loan Collector Banking 30,700 MYR
Loan Examiner Banking 36,700 MYR
Loan Officer Banking 35,560 MYR
Loan Processing Manager Banking 93,600 MYR
Loan Processor Banking 41,900 MYR
Loan Quality Assurance Auditor Banking 84,740 MYR
Loan Quality Assurance Manager Banking 97,840 MYR
Loan Quality Assurance Representative Banking 65,920 MYR
Loan Review Manager Banking 93,880 MYR
Loan Team Leader Banking 88,240 MYR
Loans Manager Banking 115,400 MYR
Mortgage Advisor Banking 60,600 MYR
Mortgage Collection Manager Banking 107,380 MYR
Mortgage Collector Banking 28,660 MYR
Mortgage Credit Analyst Banking 48,200 MYR
Mortgage Credit Manager Banking 103,200 MYR
Mortgage Development Manager Banking 109,740 MYR
Mortgage Document Reviewer Banking 39,640 MYR
Mortgage Funding Manager Banking 116,180 MYR
Mortgage Operations Manager Banking 148,300 MYR
Mortgage Payment Processing Clerk Banking 35,500 MYR
Mortgage Processing Manager Banking 96,960 MYR
Mortgage Processor Banking 39,960 MYR
Mortgage Quality Assurance Auditor Banking 87,940 MYR
Mortgage Quality Assurance Manager Banking 94,940 MYR
Mortgage Servicing Clerk Banking 29,160 MYR
Mortgage Servicing Manager Banking 100,140 MYR
Mortgage Underwriter Banking 38,140 MYR
Online Banking Manager Banking 151,800 MYR
Payment Processing Clerk Banking 31,960 MYR
Personal Banker Banking 66,000 MYR
Personal Banking Advisor Banking 64,620 MYR
Phone Banker Banking 41,560 MYR
Private Banker Banking 64,620 MYR
Reconciliation and Investigation Specialist Banking 72,780 MYR
Tax Officer Banking 50,620 MYR
Teller Banking 29,160 MYR
Trade Officer Banking 35,000 MYR
Trade Product Manager Banking 108,120 MYR
Trader Banking 42,320 MYR
Treasury Operations Officer Banking 77,640 MYR

Salary Comparison by City

If you want to compare salaries with different cities in Malaysia, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Ampang 58,800 MYR
Ipoh 66,580 MYR
Johor Bahru 64,620 MYR
Klang 58,720 MYR
Kota Kinabalu 64,040 MYR
Kuala Lumpur 68,360 MYR
Kuching 58,720 MYR
Petaling Jaya 69,240 MYR
Shah Alam 63,400 MYR
Subang Jaya 60,180 MYR

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