Cost of living in KL

Armourmumbai wrote:

Hi, I am Mechanical Engg Graduate with 4.5 years of experiance. I am being offered 7000 RM/ month & taxes will be on my account. Office is located at KLCC.
I think salary being offered is bit less for 4.5 years of experiance. kindly advise.

from the various blogs I understand that Tax rate is 26% & the same is refundable after completion of 183 days of stay in Malaysia. after that tax will be of 3-4%.
Kindly advise if the above understanding is correct.

I am single guy with simple life style.  how much will be my net savings??

Looking forward to for your help

Thanks n regards

Armourmumbai

Tax long term on 7,000k is approx 10% or 6,300K net (no EPF as foreigner). This is after tax cuts this year. Tax is repaid in May if you submit in March for the prior tax year (Jan to Dec) so can take a year to get back.

7k a month is low in my opinion but trend in current depression is to pay Indians very little and many want the jobs. The UK for examples is in triple dip recession so all the Indian engineers and ITC workers in the west have lost jobs and looking with all the unemployed westerners as well! Supply > demand = lower wages

In UK btw wages falling every year in real terms and 100,000's are leaving to get more money (in the paper this weekend). They are leaving UK to earn more! What a mess in the west.

So if you have nothing else better than nothing!

Easy to spend all of 6.3k in KL. Not a large salary, but if it is a good job with prospects/CV advantage these are factors you need to consider.

Also if single and live very cheaply maybe you can save a bit. depends on you - many Indian guys party and spend everything! Easily done. Depends on you.

Thanks nemodot...that helps a lot

I am considering following figures as expenses

Rent RM 1250 (considering  rent as 2500 RMI, will be sharing 1 BHK in Brickfields)
Food RM 800
Utilities RM 200
Transportation RM 300 ( consdering I stay in Brickfields)
Misc expenses: RM 500

Totol expenses work out to be RM 3000 ( +/- RM 200 )

Net savings approx RM 3000

Kindly advise if above calculations are workable

Thanks in advance.