When establishing a business in Vietnam, managers, besides digging deep into Law on investment, Law on enterprises, should do research on a salary standard of “hot” fields in Vietnam. Each major has a different salary floor, hence understanding the standard can help entrepreneurs seduce talents, specialists since a handsome salary is considered extrinsic motivation. This article provides you precise information about the minimum wage in Vietnam and suggested the salary guide for some “hot” sectors.
Regulations about salary in Vietnam
According to the Degree 90/ 2019/ ND-CP, the minimum salary for employees working in region I is VND 4.420.000/ month. Employees working in region II receive the minimum salary of VND 3.920.000/ month while the minimum salary of region III is VND 3.430.000/ month. (The areas of region I, II and III will be listed here).
As to working hours: the Labor Code provides a maximum 8-hour working day and 48-hour working week. Adhering to the international standards, this enables foreign enterprises to develop and follow a consistent global strategy since they can incorporate the existing work practices into their Vietnamese production chains.
Fresh graduate salary in Vietnam
Based on a report in 2019, fresh graduate Vietnamese students made one-sixth the income of the Singaporean counterparts. Job Street, a job advertising company presented that the average minimum salary of an entry-level in Vietnam was USD 250 per month. Meanwhile, this figure was much lower than Malaysia (USD 493), Thailand (USD 605) and Singapore (USD 1, 481).
The minimum and maximum salary of the entry-level in 5 Southeast Asia countries (Source: Vietnam express)
Salary guide of some “hot” fields in Vietnam
This part provides you salary information about 5 “hot” fields in Vietnam. In the previous article, the salary guideline for IT vacancies has been presented, then you can get what salary floor for these IT-related positions. Then six fields are medicine, tourism – hospitality (hotel, F&B, and recreation), accountant, graphic design, and marketing.
These figures used in this part come from two publications written by Adecco Vietnam and First Alliances.
Notes: These numbers mentioned below come from the two leading HR companies in Vietnam (Adecco Vietnam and First Alliances).
Tourism – Hospitality
The salary of tourism – hospitality is divided into three sub-parts: hotels, F&B chain and recreations.
Accounting
Graphic Design
Overall, an entry-level graphic designer (1-3 years of experience) earns an average salary of 225,841,991 VND/year. On the other end, a senior level graphic designer (8+ years of experience) earns an average salary of 385,972,894 VND/year. The average base salary is 308,973,962 VND/year.
In Hanoi, an entry-level graphic designer (1-3 years of experience) earns an average salary of 228,777,117 VND/year. On the other end, a senior level graphic designer (8+ years of experience) earns an average salary of 390,989,142 VND/year. The average base salary is 312,989,503 VND/year.
In HCM City, an entry-level graphic designer (1-3 years of experience) earns an average salary of 217,711,655 VND/year. On the other end, a senior level graphic designer (8+ years of experience) earns an average salary of 372,077,829 VND/year. The average base salary is 297,850,867 VND/year.
Marketing
The salary of marketing is different from the position of each industry like marketing for FMCG, marketing for healthcare and so forth.
Marketing for FMCG
Marketing in healthcare
In conclusion, it is inevitable for enterprises to catch up with the salary standards so that managers are able to distribute an appropriate salary to each employee. The minimum and maximum salary are varied from field to field, years of experience and education. This article hopes to provide you essential information about the salary of some fields in Vietnam. Viettonkin is always ready to assist you in researching the market as well as offering professional services in HR.