Brain drain persists as half of 37,380 graduates seek better career prospects abroad

SHAH ALAM - A significant portion of Malaysian graduates are planning to seek employment opportunities overseas, highlighting the ongoing concern of brain drain in the country.

According to "Malaysia's 100 Leading Graduate Employers Survey," 56 per cent of 37,380 respondents intend to pursue careers abroad upon completing their studies.

GTI Media Malaysia CEO Isaac Hee attributed this trend to the perceived scarcity of high-value job opportunities and career development avenues within the Malaysian job market.

"The survey reveals that 81 per cent of respondents believe that career advancement prospects are better outside Malaysia," Isaac said.

He further noted that salary and benefits have emerged as crucial factors influencing graduates' employment choices.

"Graduates are openly expressing their concerns about the rising cost of living, emphasising the importance of ensuring a sufficient salary to meet their basic needs," Isaac said.

The survey, conducted from January to September 2023, involved students and graduates from 175 public, private, and foreign universities.

In a positive development, Isaac pointed out that graduate-level positions have seen salary increases starting in 2023.

He encouraged graduates to research and understand their rights and fair salary scales in their respective industries while actively engaging in collective bargaining with potential employers.

Meanwhile, Maybank emerged as the most popular employer among local students and graduates to work for in 2023, securing the top spot in the same survey.

This marks the sixth consecutive year that Maybank has held the top position, further solidifying its reputation as a leading employer in the banking and financial services sector.

Petronas secured second place in the survey, while accounting and professional services firm KPMG made a significant leap, jumping to third place and entering the top three for the first time.