Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. In fact, the younger the employee, usually the higher the increment. What is the Average Salary in Vietnam? If your wage is between the average and the median, then things can be a bit complicated. Then comes Hanoi. It borders on Laos, Cambodia, China and is washed by the South China Sea. April 13, 2023. To view accurate figures, choose a specific job title. Historical Data (VND Thou/Month) by years Data Period Date When looking at the cost of living its important to understand that these estimates assume that expats will want many Western-style amenities. Chart. Its a very long nation; the climates vary hugely from a cold, mountainous northern region to a tropical, warm southern climate in the nations Mekong Delta. A paid subscription is required for full access. Their field of expertise usually matches the type of business. As a result, its possible to communicate with your Vietnamese colleagues during your regular business hours. If youre visiting on a reconnaissance trip, consideraSteriPenorLifeStraw. Their apartment came fully furnished with air conditioning and their building has a laundry room and a security guard 24-hours a day. five reasons why Vietnam is an outsourcing powerhouse, July 2021 press release by the General Statistics Office of Vietnam, Kearneys 2021 Global Services Location Index, What is an agile work environment? Those who got bonuses reported rates ranging from 3% to 5% of their annual salary. (Keen to access this information offline? Outsourcing can help this situation. 2023: The "base salary" will be increased from 1.49 to 1.8 million . However, over half (54.3%) of Vietnamese individuals often earn more than full-time employees. List of the best paid positions and their average monthly salary in Vietnam (VND). Salaried employees are usually exempt from overtime as opposed to hourly paid staff. Median salary means half the population earns more than 14.8 million VND/month, while the other half earns less than 14.8 million VND/month. Many teachers work from Hanoi, in the north. Lets explore the average salaries and popular professions of three major Vietnamese cities Hanoi, Ho Chi Minh City, and Haiphong: Hanoi provides the countrys highest salary, on average. Also from the diagram, 75% of the population earn less than 22,500,000 VND while 25% earn more than that. The world is currently facing a global talent shortage. Employment in Vietnam - statistics & facts | Statista Listed above are the average annual increase rates for each industry in Vietnam for the year 2022. As one of the worlds most stable countries, Vietnams primary goal is economic growth, making it an attractive destination for domestic and foreign investors. According to the Official Letter, starting from 10 May 2023, the web portal of the General Department of Taxation of Vietnam, including eTax service and eTax Mobile, will be upgraded to allow taxpayers to: To implement Circular 19/2021/TT-BTC, the General Department of Taxation of Vietnam guides the tax collection and other state budget revenues by payable ID numbers collected by tax authorities as follows: For more information on HR & Payroll Updates and other compliance requirements for businesses operating in Vietnam, follow our monthly releases on the website and social media channels at vietnam.acclime.com. Its a good general overview. The plan is to continue economic reforms that attract foreign manufacturing investments to Vietnam. Example:A graphics designer working for a graphics designing company. The lowest salaries are in administration/chancellery, customer service, accounting and trade. Vietnam is moderatelyvegetarian-friendly. After rent, the majority of his expenses can be attributed to street food and coffee. The Tet bonus amount can range from one to three months salary. Granted upon achieving an important goal or milestone. * Based on the average change in salary over time. 28 new forms for SI, HI and UI were introduced, Arrange the payment order according to the Law on Tax Administration. Profit from the additional features of your individual account. Hourly jobs pay per worked hour. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise. Developing technical knowledge and digital skills is another factor helping Vietnamese workers get employed in high-tech sectors. Employees in Vietnam are likely to observe a salary increase of approximately 9% every 17 months. The weather in the winter, however, is quite dreary and the lows are a cold, damp, 50F (10 C). Foreigners cannot own land in Vietnam; for expats hoping to buy and build a legacy, this is nigh impossible. A 15-member committee signed off on a pay range of $487,000 to $868,000 during a meeting Wednesday. "For the last couple of weeks,. Companies within thriving industries tend to provide higher and more frequent raises. Vietnam: Vietnam's Base Salary Officially Increased To VND 1.8 Million MOLISA. Its in southern Vietnam, so the weather is warm year-round but the coastal position makes it cooler than the city. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Region I (Hanoi and Ho Chi Minh City) 4,680,000 VND per month, Region II (rural areas of Hanoi and Ho Chi Minh City and the cities of Kantho, Danang and Haiphong) 4,160,000 VND per month, Region III (Bac Ninh, Bac Jiang, Hai Duong and Wing Phuk provinces) 3,640,000 VND per month, Region IV (remaining settlements) 3,250,000 VND per month. So, more foreign investors will likely choose to invest in Vietnam as itll offer them higher corporate sales and increased stock evaluations. We have also released a detailed practical guide for employers on this and how it impacts salary (insurance) payments recently, please click here for your reference. 51% of surveyed staff in Vietnam reported that they haven't received any bonuses or incentives in the previous year while 49% said that they received at least one form of monetary bonus. He lived in the city for a long while and was an entrepreneur engaged in the digital nomad crowd and startup scene. This is the average salary including housing, transport, and other benefits. Though its popular with tourists, expats can live just a bit outside of the city center and have a peaceful life in the rice paddies. While its far away from the American and Canadian markets (11 hours each), its also a major supplier of IT services to these regions. Its particular focus on software development cemented its place in the global economy. Vietnam: average monthly salary by industry 2021 | Statista Research Expert covering Vietnam Get in touch with us now , Jul 7, 2023 In 2020, the average monthly compensation for paid employees in lottery, gambling, and betting activities was. As a town, you have the quaint, pretty architecture, but still access to a beach and delicious foods. The average salary in Hanoi currently stands at $812/month or $9,745/year for salaried jobs and $4.68 an hour for hourly jobs. However, HCMC is the largest city and provides the most economic opportunities. Average monthly salary for paid workers and employees in Vietnam from 1st quarter 2019 to 1st quarter 2023, by gender (in million Vietnamese dong) [Graph]. Their expertise is usually different from that of the core business operations. The median represents the middle salary value. Those figures should be taken as general guidelines. As a Premium user you get access to the detailed source references and background information about this statistic. In, MOLISA. Many expats considering living in Vietnam are looking for a place with a fascinating culture, good food, and a quality lifestyle on a budget. MOLISA. 4. The base salary in Vietnam ranges from 10,700,000 VND to 22,500,000 VND. Note that the local wages are very low$148 in some casesand as such, prices are pegged accordingly. His expense report came in at $1200 for an average month, which included his Western-style apartment in District 1, and a maid three times a week, alongside other optional costs. "Average Monthly Salary for Paid Workers and Employees in Vietnam from 4th Quarter 2020 to 1st Quarter 2023 (in Million Vietnamese Dong). Early in the pandemic, the governments decisive actions helped Vietnamese companies and workers keep up with worldwide outsourcing demands while others struggled. budget backpacker route of Southeast Asia, Embassy of the Socialist Republic of Vietnam, traditional foods you can almost always order vegetarian, Culture Shock: The Essential Guide to Customs &Culture. It is translated into 35 languages. It is extremely difficult to give an exact figure of a good salary when no specific job is selected, however; an estimate can be provided based purely on the cost of living. A person working in Vietnam typically earns around 17,200,000 VND. They chose to live in the Ba Dinh district, near Hoan Kiem Lake. Posted: 2023-07-01 10:59:49. Salary Variance This is the average salary including housing, transport, and other benefits. The minimum pay rate per hour for a person in Vietnam is 25,100 VND. Available: https://www.statista.com/statistics/1070795/vietnam-average-monthly-salary/, Average monthly salary for paid workers and employees in Vietnam from 4th quarter 2020 to 1st quarter 2023, Immediate access to statistics, forecasts & reports, Status of employment among people Vietnam 2022, Employment rate in Vietnam 2019-2021, by gender, Quarterly employment rate in Vietnam 2019-2021, by region, Employed population in Vietnam 2021, by employment status, Labor force in Vietnam 2019-2021, by gender, Labor force in Vietnam 2019-2021, by region, Labor force participation rate in Vietnam 2020-2023, Labor force participation rate in Vietnam 2019-2021, by gender, Labor force participation rate in Vietnam 2019-2021, by region, Labor force participation rate in Vietnam 2021, by age group, Trained labor force in Vietnam 2021, by urbanization level, Average monthly salary for paid workers and employees in Vietnam 2020-2023, Average monthly salary in Vietnam 2019-2023, by gender, Average monthly salary in Vietnam 2021, by economic sector and unit, Average monthly salary in Vietnam 2021, by sector, Average monthly salary in Vietnam 2021, by qualification, Youth unemployment rate in Vietnam 2011-2022, Total unemployment insurance expenditure in Vietnam 2015-2020, Total unemployment insurance revenue in Vietnam 2016-2020, Meat processing industry wages in Italy 2019, Opinion on the abolition of job vouchers in Italy 2017, Wages of sweets manufactures in Italy 2018, Italy: job vouchers sold to employees 2008-H1 2016, by distribution channel, Average annual payment in America's most stressful jobs in 2012, Netherlands: wages of employees in the market sector 2006-2016, U.S. insurance industry - median hourly wage by occupation type, Average urban monthly net wage in Indonesia in 2022, by sector, Satisfaction level with the current salary in France 2019, Average rural monthly net wage in Indonesia in 2022, by sector, Average daily wage rate in coconut farms Philippines 2019, by region, Share of people with a recent salary raise in Netherlands 2019, by education level, Per capita disposable personal income in the District of Columbia 1990-2019, Advertising manager salary in Russia 2021, by experience and region, Coronavirus (COVID-19) pandemic in Vietnam, Average monthly salary for paid workers and employees in Vietnam from 4th quarter 2020 to 1st quarter 2023 (in million Vietnamese dong), Find your information in our database containing over 20,000 reports. Employees that support and facilitate the work of revenue generators. If this happens, Vietnam will have a sizable middle-class population with a fair amount of disposable income. Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. Vietnam Vets & Rolling Thunder; . For my full review policy click here. Still researching the right spot to live? Vietnam Cost of Living in 2023 ($700) Cost of Living in Vietnam (2023) Last updated on January 13, 2023 Vietnam is a fast-growing expat destination, and one of the more popular places for retirees, expats, and digital nomads living in Southeast Asia. facts. Information Technology Average Salaries in Vietnam 2023 Salaries in Vietnam - Paylab.com As a result, freshers and juniors typically receive a higher annual increment than more experienced and older employees. Located just south of China, Vietnam is ideal for many different time zones. Having learned history from the U.S. point of view, The Girl in the Picture provides a beautiful, haunting look at the war from the Vietnamese perspective. 5. Certain industries/economic sectors include below: On 28 April 2023, Ho Chi Minh City Social Insurance (SI) issued Official Letter 1952/BHXH-TST guiding on the salary used as a basis for SI contribution decided by the enterprise as follows: 1. 17,000,000 VND. One of Vietnams largest cities, Ho Chi Minh City (Saigon), is a go-to destination for young digital nomads, travel bloggers, and budget travelers. Chris O'Meara / AP A student makes her way past the sign at New College on Jan. 20, 2023, in Sarasota. List of Asian countries by average wage - Wikipedia The EVFTA, in particular, is expected to turn Vietnam into a European business hub. They are vegetarians and dont party, and choose to spend their money on better accommodation and delicious food. The most standard form of bonus, where the employee is awarded based on their exceptional performance. It has also entered into multiple free trade agreements (FTAs) through the World Trade Organization (WTO) with Japan, Chile, and Korea. Salaries in Vietnam: Best Sectors, Locations, Taxes, and more These guides include thorough breakdowns of the culture, quality of life, vibe, andimportantlybudget breakdowns so you can better plan which spot in the world best meets your needs.

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