The Average Salary In Vietnam: Expats Should Know

I. Average Salary

In Vietnam, salaries and wages vary greatly by occupation and significantly between urban and rural locations. The average monthly wage in Vietnam is about 3.45 million VND ($150), and it varies depending on a number of factors.

Similar to many other economies, Vietnam's income levels are initially divided by the types of employment that are available. The top three occupations with the greatest salaries are banking (7.6 million VND/month), pharmacy (7 million VND/month), and mining and metallurgy (9.2 million VND/month), whereas some other jobs, including those in the textile or food industries, only pay its laborers 2.5 to 3.1 million VND each month.

Additionally, there is a huge pay discrepancy between various job levels. For instance, the administrative staff typically earns between 5 million and 6.5 million VND annually, but CEO salaries range from 100 million to 300 million VND.

Additionally, there is a difference in pay between state- and privately-owned businesses. Especially in key core professions like teaching and healthcare, the majority of state officers and employees have extremely low pay jobs that are typically comparable to 1/3, 1/5, or even 1/10 the wage of the private officers in the same post. Although the pay for state officers in other sectors, such as banking, oil, or energy, may be higher, it still does not match that of workers in the private sector.

Additionally, there is a rising preference for working in foreign-owned businesses that provide competitive wage rates. However, few people are able to apply for the position effectively due to their poor English proficiency and educational level.

Top 10 highest-paying jobs in Vietnam according to VOV:

II. How much money can one expect to make in Vietnam?

In Vietnam, the average monthly salary for an employee is about 17,200,000 VND. The lowest average pay is 4,360,000 VND, while the highest is 76,900,000 VND (highest average, actual maximum salary is higher).

This is the typical monthly wage, which also includes housing, transportation, and other amenities. The salaries for various professions vary greatly. See the wages for various job titles below if you're curious about the pay for a particular position.

III. Salary Distribution in Vietnam

1. Salary Range

Vietnam's minimum monthly wage is 4,360,000 VND, and the maximum monthly wage is 76,900,000 VND (maximum average salary, actual maximum is higher).

2. Median Salary

The median monthly salary in Vietnam is 16,200,000 VND, which means that 50% of the population earns less than 16,200,000 VND and 50% earns more than 16,200,000 VND. In general, you would prefer to be classified as someone who makes more money than the median income indicated on the graph's right side.

3. Percentiles

The 25th and 75th percentiles are two values that are quite near to the median. According to the salary distribution diagram, 25% of people in the population make less than 9,240,000 VND, while 75% make more. The diagram also shows that 25% of the population earns more than 43,700,000 VND, while 75% of the population earns less than 43,700,000 VND.

IV. How Much Does the Average Vietnamese Worker Make?

The level of experience has a significant impact on earnings in Vietnam.

An individual with between 2 and 5 years of experience typically makes 32% more money than someone with under 2 years of experience. In comparison to individuals with 2 to 5 years of experience, those with 5 to 10 years of experience would make 36% more money. They receive an additional 21% raise if they increase their experience to between 10 and 15 years. The average salary for those with more than 20 years of experience is 9% more than that of those with 15 to 20 years.

V. How Much Does the Average Vietnamese Worker Make?

In addition to years of experience, education also plays a significant influence. So much so that individuals working the same profession with the same degree of experience but varying levels of education receive various average salaries in Vietnam.

A certificate or diploma holder can make about 17% more money than a recent high school graduate. A 24% increase occurs while going from a diploma to a bachelor's degree. Average pay for Ph.D. holders is 23% higher than for master's holders.

However, a shift in pay is always influenced by the area and, most crucially, the type of employment.

According to career fields, what are the average salaries in Vietnam?

There is a significant gap in wage levels in Vietnam due to the large variety of professions and businesses. The industries in Vietnam that pay the highest average wages are mining and metallurgy (9.2 million VND per month, or $403 per month), and banking (7.6 million VND per month, or $333 per month). In contrast, comparable jobs in other industries like textile or food pay their employees only 2.5 million VND ($109) to 3.1 million VND ($135) per month.

Additionally, the gaps between various roles inside an organization are significantly greater. In contrast to CEOs, who often make between 100 million ($4384) and 300 million VND ($13,154), administrative staff typically earn between 5 million ($219) and 6.5 million ($285) VND per year.

Based on gender, what are average salaries in Vietnam?

Gender still has an impact on the average pay in Vietnam, even though this shouldn't be the case. Across all industries, women's salaries are 11% lower on average than men's salaries. Even though this pay discrepancy is smaller than in other nations, it is still discriminatory.

In conclusion, it is not enough to simply consider the average pay when forming conclusions. To live comfortably in Vietnam, it is preferable to understand what affects pay and work accordingly.

VI. Vietnam's bonus and incentive rates

Your bonus amount at work will also affect your overall compensation. In comparison to other jobs, some have higher bonus rates and a higher possibility of paying bonuses. In general, jobs that involve more direct revenue generating will get bigger bonuses based on how well they achieve their revenue targets.

In Vietnam, 49% of workers said they had gotten at least one bonus during the preceding twelve months. 51% of respondents said they hadn't gotten a bonus in the preceding year.

The reported bonuses varied from 3% to 5% for the employees who did earn bonuses in the previous 12 months.

VII. What kinds of bonuses are there?

You may be eligible to receive several different sorts of bonuses at work. Including:

- Individual performance bonus: This is a reward given to a specific employee for overall job performance. It is the most typical kind of bonus.

- Company performance bonus: This bonus is given to a worker in order to distribute profits to the team.

- Goal-based bonus: This type of incentive is given to an individual employee (or team) who has met certain milestones, goals, or objectives.

- Holiday bonuses: Are typically given as a thank-you for the hard work put in throughout the year and are frequently given at the end of the year.