Wage Guide is a tool that estimates the fair wages for a particular occupation based on the age of the employee. The estimation represents the possible range of wages the employee can get from historical data that PERKESO has. However, the estimation does not include the specific skills and knowledge factors that may influence the wages for that occupation.

Wage Guide provides the information of possible wage growth for the occupation that can be used for career progression and planning throughout the working years at different locations and industries or for similar occupations.

Wage Guide tells three wage estimates for every age reference based on the lines. The middle line shows the median or Middle 50, the lower line shows the Bottom 5, and the upper line shows the Upper 95. This means that the Wage Guide estimates 90% of the possible wage range for each occupation.

By using the Age and Occupation input, the projection of wage can be done using a linear regression method. Additional input such as Location, Industry and Similar Occupations can be used for calculation, too.

Wage Guide uses age classification for specific occupations. Occupations for Managers start at 27 years old, and Professionals start at 23. Lower skilled occupations start at 18 years old.

The blue shade shows the possible wage range for the Occupation with the selected Age and represents 90% coverage. Wages outside the blue range are outliers and not forecasted in Wage Guide.

The middle line shows the median or Middle 50, the lower line shows the Bottom 5, and the upper line shows the Upper 95. The markers on each line show the estimated wage for the occupation at the selected age.

Currently, there are more than 250 occupations available. The list will grow as more data is gathered.

Prefix titles, such as Junior Executives, Senior Managers or Principal Engineers, are not used in Wage Guide as the occupations are based on The Malaysia Standard Classification of Occupations (MASCO) taxonomy guideline.

There are many ways you can use the information from Wage Guide. Some examples include:
• Case Advisors during employment job fairs
• Academic Counselors to advise students on career paths
• Fresh Graduates to benchmark their starting pays

In general, the data is updated annually as the collection of data relating to wages usually change with the increase of employees’ wages that are done by many employers based on yearly performance. However, this does not stop Wage Guide to also use updated data at any time of the year.

Wage Guide runs on Python scikit-learn Machine Learning module to forecast the pattern of wage against age and occupation. By using the GradientBoostingRegressor model, it is possible to obtain a relatively accurate prediction for Wage Guide even with small amount of data.

WAGE GUIDE