Vietnam Salary Guide 2023 introduced

ManpowerGroup Vietnam introduced the guide for the first time in the context of Vietnam’sstrong economic recovery and foreign direct investment inflows in recent years, which have contributed significantly to the bright outlook of Vietnam’s labour market post-pandemic. However, the double disruption by the pandemic and digital transformation has brought about significant changes to the hiring demand and human resource strategies of businesses.

Andree Mangels, general manager of ManpowerGroup Vietnam said, “Salary trends in Vietnam have witnessed a significant development in recent years. Vietnamese white-collar workforce’s salary has risen gradually partly due to inflation, but also thanks to the significant improvement in workers’ skills over the years.”

The Vietnam Salary Guide 2023 covers 12 industries and skillsets and the most critical positions, from middle level, senior to C-suite level. This comprehensive guide includes the labour market’s highlights and hiring trends for each industry, top sought-after positions, and most importantly, the average salary range for hundreds of roles in 12 key industries.

The National Assembly in November approved an increase in the base salary for employees in state agencies by 20.8 per cent to VND1.8 million ($78.26). The salary of state employees is counted by multiplying the base salary with the salary coefficient, which is different among state employees based on their working duration, position and others.

Annually, Vietnam also considers increasing the minimum monthly wage for workers in different regions.

The monthly salary of labourers in Vietnam is about $300, much lower than the region’s average of $1,992 and the world’s at $2,114.

Ministry proposes basic salary hike for civil servants Civil servants, public employees and members of the armed forces will be likely to enjoy a new basic salary from July 1, 2020.

Regional minimum wage may be unchanged in 2021 Due to the impact of the COVID-19 pandemic on the country’s economy and enterprises’ operation, almost all members of the National Salary Council agree with the plan to maintain the existing regional minimum wage by the end of 2021.

Govt rolls out interest-free loans for companies to pay salaries The Viet Nam Bank for Social Policies has begun accepting applications from businesses for interest-free loans to fund furlough and salary payments, its deputy director, Bui Van Son, said.

Foreign groups battle to retain their workers Offering a less attractive salary and welfare package is one of the reasons why many foreign-invested enterprises in industrial zones cannot retain local workers, some of who are going to desperate lengths to get by financially.

Personnel citing healthy workplaces over salary issues The need to find a suitable working environment is increasingly becoming a top priority for employees, especially after the pandemic, with workers paying more attention to health issues and changing their perspective on the importance of work.