Read More: Freelance Work And The Gig Economy

HRDept - Connecting Kind Employers and Candidates

In the context of a rapidly growing economy, salary and bonus schemes are two crucial factors in attracting and retaining talent. In Vietnam, the disparities in income across industries not only reflect labor market dynamics but also demonstrate the value and development level of each sector.

1. Average Salary by Industry

According to the latest reports from leading HR companies, including HRDept, the average salary of workers in Vietnam varies significantly:

• Information Technology (IT): With high demand for talent, the average salary for IT professionals ranges from 15 to 30 million VND/month, with positions like software developers or cybersecurity experts earning up to 50 million VND/month.

• Finance and Banking: This sector maintains attractive salaries, with an average of 20 to 40 million VND/month for management positions. However, fierce competition requires employees to have solid expertise.

• Manufacturing: This industry shows significant differentiation. Manual labor typically earns 7 to 10 million VND/month, while engineers or factory managers can earn between 20 to 35 million VND/month.

• Education and Healthcare: These socially oriented sectors generally offer lower average salaries, ranging from 7 to 20 million VND/month, depending on position and level.

Table: Average Salary Comparison Across Industries in Vietnam (2024)

Note:

• Figures are based on labor market reports from major HR firms like HRDept and are for reference purposes only.

• Salaries may vary depending on region, experience, and specific company requirements.

HRDept highlights that industries like IT and finance often pay higher salaries due to the technical expertise required and the need to adapt to global trends.

2. Bonus Schemes: “The Game of Benefits”

Beyond salaries, bonus schemes are key elements showcasing competition across industries:

• IT Sector: Bonus schemes in IT are diverse, including performance bonuses, project-based incentives, and company stock options. Major corporations like FPT and VinGroup also offer attractive stock packages for long-term employees.

• Finance and Banking: This sector offers some of the highest bonuses, especially at year-end or when KPIs are achieved. For instance, top-performing sales staff in major banks can receive bonuses equivalent to 3 to 6 months' salary.

• Manufacturing: Bonuses in this sector are often less flexible, focusing primarily on year-end rewards or production targets.

• Education and Healthcare: Bonus schemes in these two sectors remain limited, mainly depending on state budgets or nonprofit organizations.

HRDept emphasizes that companies prioritizing benefits and creating positive work environments will have a significant advantage in retaining talent.

3. Trends and Recommendations

In recent years, Vietnam has witnessed clear trends in improving employee benefits. Companies are increasingly shifting their mindset, focusing more on non-financial benefits such as health insurance, flexible working hours, and creative workspaces.

HRDept suggests that businesses should prioritize building transparent and attractive bonus schemes to motivate employees. At the same time, workers should thoroughly research labor market information to choose industries that align with their skills and aspirations.

Read More: The Trend of Salary Transparency: A Step Toward Fairness and Efficiency in Organizations

Salaries and bonus schemes across industries in Vietnam not only illustrate income disparities but also reflect labor demand and economic development trends. While sectors like IT and finance are on the rise, socially-oriented fields like education and healthcare require more investment for improvement. HRDept asserts that balancing salaries, bonuses, and benefits is the key to sustainable workforce development in the future.

For further insights, read: “Freelancing and the Gig Economy: A Path to Independence”.