Farah Adilla
KUALA LUMPUR: The average pay package for a mid-level expatriate worker in Malaysia has seen a slight fall to US$157,054 annually, according to ECA International MyExpatriate Market Pay research.
ECA International regional director Lee Quane said the average mid-level expatriate in Malaysia saw a salary of US$71,025 in 2020, slightly less than the previous year.
"The cost of benefits fell by a much more significant US$1,952 on average, as rents dropped amid a lack of demand for expatriate accommodation, which had been brought on by the Covid-19 pandemic and restrictions on international travel", he said in a statement today.
In Asia, ECA International said cash salaries of expatriates in Singapore remain fifth highest worldwide, despite the overall cost of employing a mid-level expatriate worker in Singapore dropping by US$7,284.
Singapore is now the 17th most expensive location globally for companies to send expatriates to, with the average pay package for a mid-level worker costing companies US$225,171 annually.
Elsewhere, Thailand sees the biggest plunge in rankings, dropping out of the global top 20 most expensive locations to hire expatriate employees.
Besides that, expatriate packages see overall decreases in Hong Kong, in light of falling accommodation costs, while Taiwan bucks the trend, moving into the top 10 most expensive locations globally, as rising housing prices inflate benefit packages.
"This drop in pay packages is partly driven by lower costs of accommodation and other benefits commonly provided to white collar expatriates, but employees themselves are also taking home approximately US$1,000 less in cash salary than their peers in 2019.
"Nevertheless, cash salaries paid out to expatriates in Singapore remain the fifth highest worldwide.
"This means that expatriates in Singapore are more likely to be paid more compared to their peers in other locations," Quane added.