When approaching the recruitments in Vietnam, understand the minimum wages in the current Vietnamese labor market is very important, not only for foreign investors but also for Vietnamese employers. The salary guide below was conducted to help employers answer the question: “How much should I pay for a position, and what is the salary benchmark for currently on the general salary frame of the market?”. Let's find out clearly through this post.
1. Summary of salaries in Vietnam in 2019
In 2019, the minimum wages are predicted to increase to VND4.18 million (US$180) from VND 2.92 million (US$126) in 2018. I 2019, the minimum wage was increased by an average of 5.3% by Vietnam’s National Wage Council. While the minimum wages in 2018 were increased by 6.5 percent which ranged from VND 2.76 million (US$118) to VND 3.98 million (US$171) in 2017.
Minimum Wage – Vietnam*
Per Month (VND)
*(According to Vietnam Briefing’s article published in the quarter 1/2019)
The effection of minimum wages is from Jan 01, 2019 till Dec 31, 2019
Region I: Urban Hanoi and Ho Chi Minh City;
Region II: Rural Hanoi and Ho Chi Minh City along with urban Can Tho, Da Nang, and Hai Phong;
Region III: Provincial cities and the districts of Bac Ninh, Bac Giang, Hai Duong, and Vinh Phuc provinces; and
Region IV: Covers the remaining localities.
2. How Vietnam companies calculator the job salary?
To calculate the salary for employees, foreign employers can base on the minimum wages and other benefits. Vietnam’s National Wage Council sets the minimum wage system to provide a stable and sustainable way to negotiate a fair minimum wage increase each year. By this structure, the salary for employees in Vietnam is certainly better fair than none at all, and labor watchers, researchers, and foreign employers can suitably follow the salary hikes range each year.
Another thing that employers must focus on besides the minimum wage structure is workers benefits, such as employers’ social insurance contributions and the traditional 13th month Tet bonus. In some areas or industries, highly with manual work or physical work, asked to reduce these other benefits in order to have a rising in their minimum salary.
Moreover, you can see more: Vietnam labor source.
3. Salary ranking by profession
According to the Teleport Job Salary Calculator, we can see overall the salary statement in Ho Chi Minh City, Vietnam. In more detail, the Finance Manager salaries in Ho Chi Minh City are above average that can up to $63,168 per year (VND121,1 million per month). While the Waiter, Graphic Designers or Cashier job’s salaries in Ho Chi Minh City are low with the highest salary up to $6,385 per year (around VND12,1 million per month).
MEDIAN SALARY (USD)
SALARY RANKING COMPARED TO ALL CITIES
C LEVEL EXECUTIVE
HUMAN RESOURCES MANAGER
Source: Ho Chi Minh city, Vietnam Salary Guide in 2019 by Teleport
Mr. Gaku Echizenya, Chairman & CEO - Navigos Group said: “Salaries play an important role in attracting and retaining talented employees, especially in the current context of the increasingly vibrant and competitive recruitment market in Vietnam. The article about the Vietnam salary guide above is conducted by Navigos Search with the purpose of helping businesses understand the importance of the Vietnam salary benchmark affecting jobseeker's application behavior, as well as a relative measure for businesses.
Navigos Search Group is a leading recruitment company in Vietnam, standing between employers and employees to help recruiters find suitable candidates for the job, especially for the Senior and C level. For help with recruitment services and HR consulting, please contact Navigos by filling in the form below. Our consultants will contact you as soon as possible.
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