What is the average salary in Vietnam per month?

Vietnamese Salaries: An Overview

Vietnam has witnessed steady economic growth in recent years, leading to an increase in average salaries across the country.

Average Monthly Salary

According to the latest official statistics, the average monthly salary in Vietnam as of 2023 stands at 17.3 million Vietnamese dong (VND), approximately equivalent to $697 US dollars (USD). This figure represents a significant increase compared to previous years.

Sectoral Variations

The average salary varies considerably across different sectors of the economy. The highest-paying industries include finance, technology, and consulting, with salaries often exceeding 30 million VND per month. Other sectors, such as agriculture, manufacturing, and retail, typically offer lower salaries, with many employees earning below the national average.

Location

Geographical location also plays a role in salary levels. Major cities like Ho Chi Minh City and Hanoi offer higher salaries compared to rural areas. Companies located in economic hubs tend to have more competitive compensation packages to attract and retain skilled workers.

Bonuses

In addition to the monthly salary, it is common for Vietnamese employees to receive a 13th-month bonus, equivalent to one month’s salary. This bonus is typically paid in December or January and serves as an additional incentive for workers.

Cost of Living

While salaries in Vietnam have improved, it is important to note that the cost of living can vary depending on the location and lifestyle. Major cities tend to have higher living expenses, particularly for housing and transportation.

Conclusion

The average monthly salary in Vietnam is approximately 17.3 million VND, equivalent to $697 USD. However, salaries vary significantly based on factors such as sector, location, and bonuses. The cost of living should be considered when evaluating salary expectations. As Vietnam’s economy continues to grow, it is likely that salaries will continue to rise in the future.