Employees at state-owned firms are getting the highest payment according to a new report by the General Statistics Office. illustrative image The numbers were announced in the report about enterprise development in Vietnam in 2017 and during the 2010-2017 period. In 2017, the average monthly wage of the business sector reached VND8.3m (USD354), a 10.1% increase compared to the previous year. The workers at state-owned firms had the highest wage of VND11.01m, increased by 4.4%, and the FDI firms followed with VND9.04m, an increase of 6.2%. From 2010 to 2017, the monthly incomes at state-owned firms increased by 8.9% a year and at the rate of 11.4% at FDI firms. The private sector experienced the fastest growth rate in monthly wage with VND7.37m (USD314), increased by 15.1% compared to 2016. The annual growth rate from 2010 to 2017 was 11.6%. In general, employees in the service sectors had the highest wages of VND9.41m (USD402) and VND7.76m in the construction and industrial … [Read more...] about State-owned firms pay highest average monthly wages
Monthly wage
Monthly wages rise by 16.47% but 23% in real estate sector
Monthly wages rise by 16.47% but 23% in real estate sector (24-09-2009) HCM CITY— Viet Nam's average monthly gross salary increased by 16.47 per cent from April 2008 to March 2009, according to the latest report from recruitment solutions provider Navigos Group. The group released its Viet Nam Salary Survey 2009 to clients at seminars in HCM City and Ha Noi this week. Despite the economic situation, gross salaries increased for most industries. Leading the pack was the real estate and property development sector at 23.25 per cent. Financial services led the salary increases for the last two years, dropping to the second place with 21.78 per cent. Winnie Lam, director of HR Advisory Services of Navigos Group, said: "Although the majority of the salary increments were given in the earlier months of the surveyed period, the results are in line with our findings in another stand-alone Trend Survey which was conducted earlier this year." "Even though the job market may not be as … [Read more...] about Monthly wages rise by 16.47% but 23% in real estate sector
Vietnam average monthly wage rises to $185
The average monthly wage in Vietnam increased 19.6 percent to VND3.84 million (US$185) last year, according to the labor ministry. Workers in the finance and insurance industries had the highest average salary last year. … [Read more...] about Vietnam average monthly wage rises to $185
Loss-making state-owned power group pays high wage
Minister of Labor, War Invalids and Social Affairs Pham Thi Hai Chuyen said that officials of Electricity of Vietnam (EVN) Group should reconsider their statement that VND7 million ($350) wage is inadequate for living in cities. On November 19, General Director of the EVN Group, Pham Le Viet Thanh, said that besides over VND10 trillion ($476 million) of loss in non-power business fields, which has been cut down to VND8 trillion, the group incurs an additional VND15 trillion owing to exchange rate gap. If EVN is not permitted to raise electricity price, the group will be unable to pay debts. The official also disclosed that the average income of the power sector’s employees in 2009 was VND7.3 million (nearly $400) and said he was “heart-broken†when his employees earn only that sum. According to Thanh, this wage is “quite lowâ€, which is only enough in the countryside and is … [Read more...] about Loss-making state-owned power group pays high wage
Tet bonuses range from two month’s wage to nothing
Annual bonuses for Tet this year rage from up to two-month's salary to nothing at some large state-owned groups in Vietnam. An official from Civil Engineering Construction Corporation No.4 JSC (Cienco 4), one of the biggest companies in the transporation industry, said they have yet to determine this year’s Tet bonus, but it intends to leave the bonus unchanged from 2014 at the equivalent to two-month's salary. “In 2014, Cienco 4’s employees’ monthly incomes averaged more than VND10m. This means that employees may receive a Tet bonus of more than VND20m each,” the official said. Vietnam National Oil and Gas Group (PetroVietnam)’s deputy general director, Le Minh Hong, said the group’s Tet bonus for this year is expected at about 1.5-month's salary, averaging about VND22m per employee. Doan Duy Hoach, deputy general director of Vietnam Railway Corporation (VRC), said the group would direct part of its VND180bn profit this year on paying Tet … [Read more...] about Tet bonuses range from two month’s wage to nothing