Many expats, even those in the south, prefer the vibe in Hanoi. 2. His monthly cost of living report came in at $724 for an average month, which includes a studio apartment in District 1. Their diet is vegetarian. Vietnam is a popular destination with budget backpackers, travel bloggers, digital nomads, and young entrepreneurs. * Based on the average change in salary over time. This page provides - Vietnam Wages- actual values, historical data, forecast, chart, statistics, economic . . However, surveys of Vietnamese workers in 150 different companies show that they need an average of 7.5 million VND for monthly needs. It is quite common for restaurant workers to entertain foreign children while parents eat. The maximum level was 7126 VND Thousand/Month and minimum was 2871 VND Thousand/Month. But you could hire a top-quality developer in Vietnam for $20-$40/hour. 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]. We wrote a guide to explain all about the different scenarios. You can help a lot if you add your survey and tell others about the site. 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. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. April 13, 2023. 26,214,300 VND. Salaries range from 4,360,000 VND (lowest average) to 76,900,000 VND (highest average, actual maximum salary is higher). Senators back 5.2% pay raise for troops, but not other salary boosts ", MOLISA, Average monthly salary for paid workers and employees in Vietnam from 4th quarter 2020 to 1st quarter 2023 (in million Vietnamese dong) Statista, https://www.statista.com/statistics/1070795/vietnam-average-monthly-salary/ (last visited July 08, 2023), Average monthly salary for paid workers and employees in Vietnam from 4th quarter 2020 to 1st quarter 2023 (in million Vietnamese dong) [Graph], MOLISA, April 13, 2023. Smaller towns also have internet access, but it can vary a bit more than in the two largest cities. Salary: Sales Representative in Ho Chi Minh City, Vietnam 2023 If this happens, Vietnam will have a sizable middle-class population with a fair amount of disposable income. Vit Nam likely to keep inflation below 4.5% in 2023: Economists Its interesting to see that comparison because they live very similarly in both places, so can really get a feel for how your budget it either country might stack up. Vietnam | Average Salary Survey 2023 Their expertise is usually different from that of the core business operations. Its difficult for the country to create so many new jobs every year. What is the average salary in Vietnam 2022? Their apartment came fully furnished with air conditioning and their building has a laundry room and a security guard 24-hours a day. The change took effect from 1 July 2023 and results in an increase in the maximum caps for calculating Social Insurance and Health Insurance payments, and consequently increasing the potential payments by employees and employers for these insurances. It does not include expat health insurance, which can run about $500 a year. Base Salary (VND) Find out what you should be paid Use our tool to get a. Vietnam Vets & Rolling Thunder; . (April 13, 2023). Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. Those figures should be taken as general guidelines. It is an interesting fact that Vietnam today is one of the world leaders in terms of the growth dynamics of rich people among the local population. Simply choose a neighborhood/district and walk around. If youre still researching various expat spots, check out our other Cost of Living Guides for a close look the what it takes to move to the worlds most popular expat spots. Currently, you are using a shared account. The world is currently facing a global talent shortage. In Vietnam, its common to pay employees a 13th-month salary as an annual bonus. They chose to live in the Ba Dinh district, near Hoan Kiem Lake. This proves true across the region, from Thailand to Vietnam. Salaries in Vietnam - Paylab.com Combined with the 2023 pay boost, troops could see their base salaries increased by almost 10% over a two-year span. MOLISA. Use Ask Statista Research Service. One thousand Vietnamese dong equals 0.044 U.S. dollars and 0.039 euros as of May 2022. The bookCatfish and Mandalais a beautiful memoir of about a Vietnamese-Americans overland bicyclejourney. Heres a salary comparison according to the years of experience: Higher education qualifications usually lead to a higher average base salary. Vietnam Minimum Wage 2022 2022 monthly minimum wage 2020 monthly minimum wage VND 4,680,000 (US$202) VND 260,000 VND 4,420,000 (US$190) VND 4,160,000 (US$179) VND 240,000 VND 3,920,000 (US$169) VND 3,640,000 (US$157) VND 210,000 VND 3,430,000 (US$148) VND 3,250,000 (US$140) VND 180,000 VND 3,070,000 (US$132) Salary and Wages in Vietnam - Vietnam Guide | Doing Business in Vietnam Instead of cooking his own meals, he decided to eat out three meals a day. 1. 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. It has also entered into multiple free trade agreements (FTAs) through the World Trade Organization (WTO) with Japan, Chile, and Korea. Amy and Andrew are British expats, who works as English teachers in Hanoi. Show sources information They are vegetarians and dont party, and choose to spend their money on better accommodation and delicious food. Average monthly salary in Vietnam 2019-2021, by area, Employment by economic sector in Vietnam 2021, Number of employed people Vietnam 2021, by industry, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. GDP is projected to increase by 3% in the year to September 2023, still around 10% lower than in 2019. Though she lists regionally southern foods, its also useful for street food in therest of Vietnam, too. Salaried jobs pay a fixed amount regardless of the hours worked. Accessed July 08, 2023. https://www.statista.com/statistics/1070795/vietnam-average-monthly-salary/, MOLISA. Being a smaller town, however, you will want to check your apartments wifi connection before you rentwhile some have fiber optic connections, it can vary wildly. And to round it out, The Sorrow of War is a memoir from a North Vietnamese soldier and provides a different perspective on the war and the impact that the war has even to this day. As more expats move to Vietnam, however, it is also driving up prices in local areas for expats and locals alike. Such services can be extremely expensive onshore for US-based companies or even to other common outsourcing locations like India or Poland. If you are an admin, please authenticate by logging in again. Salaries in Vietnam vary drastically between different careers. The weather in Da Nang is a huge selling point for many as its more temperate that Nha Trang. From north to south, a huge range of traditional dishes ensure you always have something new to eat. Its only a few hours behind leading Asia-Pacific economies, such as: Similarly, its only a few hours ahead of Europe (5 hours) and the UK (6 hours). Typically, Vietnamese workers receive a 9% salary increment every 17 months, higher than the global average of 3% every 16 months. We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. Salary in Vietnam in 2023 - wagecentre.com / Advertising 438,607,780 VND 164,255,000 VND 1,179 523,269,500 VND 387,172,500 VND 830,661,000 VND 696,910,500 VND 638,248,000 VND 539,695,000 VND If you have the privilege of moving and retiring abroad, moving to Vietnam has a lot to offer in terms of culture and cost of living. Additionally, theres a Tet bonus paid before the Lunar New Year. Chart. Vietnam: average monthly salary by industry 2021 | Statista Since the time zones are so different, your offshore team can work while you sleep, guaranteeing the 24/7 growth of your business. One thousand Vietnamese dong equals 0.043 U.S. dollars and 0.039 euros as of April 2023. They range from a minimum of $109.89/month to a maximum of $3,595/month. Salaries in Vietnam: Best Sectors, Locations, Taxes, and more A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned. and over 1Mio. The most iconic sites are quite touristy (think Ha Long Bay), but many other cities are just as pretty but without the huge tourist factor. Many Vietnamese have family members living in the U.S. and they are generally friendly and welcoming to expats. The EVFTA, in particular, is expected to turn Vietnam into a European business hub. Doing so will allow the country to modernize its large labor force and truly enter the global market. The amount of the bonus will probably be different from person to person depending on their role within the organization. Posted: 2023-07-01 10:59:49. Therefore, about 44% of the surveyed employees have to work overtime. In this article, well discuss stats about Vietnams average monthly salary and compare average salaries and increment rates. According to Vietnam Briefing, Singapore is the second-largest foreign investor in Da Nang, Vietnam. Average Salary in Ho Chi Minh City, Viet Nam - Payscale 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. To use individual functions (e.g., mark statistics as favourites, set Accessed July 08, 2023. https://www.statista.com/statistics/1070806/vietnam-average-monthly-salary-by-gender/, MOLISA. Monthly salary for SI contribution does not include initiative bonus, mid-shift meal, allowances for petrol, phone, travel, housing, childcare, child rearing and other specific allowances separately mentioned in the labour contract. David is a single 30-something male. Areas for splurging include which district you live in, the level of westernization on the apartment, and A/C consumption. The expat hubs are definitely the two main cities, but the beach-side life elsewhere is very alluring for many expats. Each quarter, Acclime Vietnam releases our Quarterly HR & Payroll Updates focusing on relevant legislation, regulations, and changes released in the previous quarter, Official Letters released by Vietnam Authorities, together with reminders for key dates for implementation of HR & Payroll changes coming into effect or upcoming reporting obligations to authorities. "Average Monthly Salary for Paid Workers and Employees in Vietnam from 4th Quarter 2020 to 1st Quarter 2023 (in Million Vietnamese Dong). Decree 24/2023/ND-CP on increase to Minimum Basic Wage from 1 July 2023, The base salary will be increased from 1.49 to 1.8 million VND/month as mentioned above, Semi-annual Report on Labour Accidents 2023, Semi-annual Report on Employment of Foreign Employees 2023, Monthly Report on Labour Change in July 2023, Monthly Report on Labour Change in August 2023, Monthly Report on Labour Change in September 2023, Report on Using PIT withholding certificate in Quarter 2, 2023. Not all compensation increases are reflected directly in the salary. Regional flooding can occur during the rainy season. When looking for a place to live, its a painless process. Street food is a fact of life in Southeast Asia, and on a Western budget, its very affordable. When looking at the cost of living its important to understand that these estimates assume that expats will want many Western-style amenities. to incorporate the statistic into your presentation at any time. Please create an employee account to be able to mark statistics as favorites. Average monthly salary for paid workers and employees in Vietnam in 2021, by qualification (in million Vietnamese dong) [Graph], General Statistics Office of Vietnam, March 2, 2023. How much does a Sales Representative make in Ho Chi Minh, Vietnam? Employment in Vietnam - statistics & facts | Statista Example:A graphic designer in the marketing department of a hospital. Minimum Wages in Vietnam remained unchanged at 4680 VND Thou/Month (199.479 USD/Month) in 2023. Salaries in Vietnam are on the rise in the year 2023 based on recently submitted salaries and reports. [Online]. In Ho Chi Minh City, however, he rented a room in District 1 for about $280 per month. To view accurate figures, choose a specific job title. Show publisher information Both are indicators. Figures have been rounded. High-speed internet is very common in large cities like Ho Chi Minh City, especially in cafes, is faster and more reliable than the high-speed internet in Thailand. Depending on the profession and region, Vietnamese income can vary dozens of times. The average salary in Vietnam is 6.1 million Vietnamese Dong (VND) per month, according to the July 2021 press release by the General Statistics Office of Vietnam. Updated Jul 1, 2023 Experience All years of Experience All years of Experience 0-1 Years 1-3 Years 4-6 Years 7-9 Years 10-14 Years 15+ Years Industry All industries All industries Legal Aerospace & Defense Agriculture Arts, Entertainment & Recreation Pharmaceutical & Biotechnology 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. The minimum wage depends on the employees region: In addition, you also need to pay an employee with vocational training 7% more than their regions basic salary. In Vietnam, the average difference between the salary of male and female employees is 11% across all career fields. Most digital nomads and entrepreneurs prefer to establish a base in Ho Chi Minh City, while expats and retirees prefer locations like Hanoi and Ho An.