Key Takeaways
- Vietnam is a Southeast Asian country that is one of the most stable and rapidly rising in the world. So, what is the average salary in Vietnam?
- As Vietnam’s economy grows, higher wages will become an inescapable part of conducting business in the nation. Thus, businesses should know how to navigate. Scroll down to learn what is considered acceptable pay in Vietnam.
- Despite the average monthly salary in Vietnam, the cost of living in Vietnam varies based on many factors. They may include location, accommodation, personal preferences, etc.
What Is An Average Salary In Vietnam?
The average salary in Vietnam reflects the country’s emerging market economy, which has grown significantly in recent decades. The average monthly salary in Vietnam varies greatly.
According to the General Statistics Office of Vietnam, the average salary in Vietnam is typically 7.5 million Vietnamese Dong (VND) per month. It is higher than the average salary in Vietnam 2023 in the same quarter.
Generally, it is between 4 and 5 million VND for unskilled workers and around 10 million VND for skilled workers or those with expertise. So, what is the average salary in Vietnam in USD? The Vietnam average salary in USD ranges from $170 to $430 for unskilled workers and from $430 to more than $1,000 for qualified professionals.
What is the average salary in Vietnam in USD? Source: liveabout
Importantly, these figures vary significantly based on the industry, experience level, etc. Let’s look at our comparison of the average salary in Vietnam annually based on different factors below:
- Experience
Workers with more experience may often earn greater pay. In Vietnam, like in other markets, senior jobs come with greater responsibility and hence higher salaries. However, Vietnamese employees with more than 20 years of experience may earn a lower average yearly wage than their colleagues with 16 to 20 years of experience.
| Years of Experience | Average Annual Salary |
| 20+ | 604,037,493 VND |
| 16 – 20 | 704,001,363 VND |
| 12 – 16 | 600,059,175 VND |
| 8 – 12 | 564,438,279 VND |
| 4 – 8 | 412,549,306 VND |
| 2 – 4 | 263,005,931 VND |
| 1 – 2 | 178,495,413 VND |
| 0 – 1 | 139,517,092 VND |
Source: averagesalarysurvey.com
- Education
Higher academic degrees often result in a higher average base wage. This is a wage comparison for various education levels:
| Education Level | Average Annual Salary |
| Doctorate Degree | 583,387,031 VND |
| Master’s Degree | 512,237,224 VND |
| Bachelor’s Degree | 369,017,765 VND |
| Some College Degree | 287,680,703 VND |
| High School Diploma | 267,467,167 VND |
| Below High School | 116,245,080 VND |
Source: averagesalarysurvey.com
- City
Vietnam’s economy is divided into primary sectors with varying levels of economic growth. Economic activity, cost of living, and industrial presence differences between different regions can all have an impact on salary discrepancies. The following are the average salary in Vietnam in three main cities: Hanoi, Ho Chi Minh City, and Haiphong.
| City | Average Annual Salary |
| Hanoi | 295,927,293 VND |
| Ho Chi Minh City | 281,614,084 VND |
| Haiphong | 254,739,112 VND |
Source: salaryexpert.com
- Work Type
Full-time employees globally often earn a high salary. Yet, many Vietnamese workers frequently earn more than full-time employees. That is because these people are self-employed, and the government actively promotes entrepreneurship by lowering tax rates.
| Work Type | Average Annual Salary |
| Self-Employed | 436,557,192 VND |
| Full-Time | 416,297,664 VND |
| Contract | 327,693,847 VND |
| Part-Time | 171,481,615 VND |
Source: averagesalarysurvey.com
- Professions
Salaries will vary greatly between sectors. High-value businesses like finance, technology, and telecommunications typically pay higher wages than conventional sectors like agriculture or manufacturing. Below is a comparison of some popular occupations in Vietnam with their average annual salary:
| Professions | Average Annual Salary |
| Dentist | 775,633,674 VND |
| Human Resources Manager | 523,705,126 VND |
| JavaScript Developer | 516,559,063 VND |
| Electrical Engineer | 512,670,713 VND |
| Project Manager | 482,558,759 VND |
| Financial Analyst | 479,134,485 VND |
| Business Development Analyst | 450,939,128 VND |
Source: salaryexpert.com
In addition to the factors mentioned above, there are more that can also affect salary levels in Vietnam.
- Supply and Demand: The ideas of supply and demand can affect pay numbers. Jobs with high demand but limited supply can result in greater compensation, but a surplus in the market for particular jobs might limit wage growth.
- Foreign Investment: The level of foreign direct investment (FDI) may influence pay levels. Sectors with considerable FDI frequently see an increase in job creation and can afford to pay higher wages to attract qualified personnel.
Factors affect the average monthly salary in Vietnam. Source: sparksgroupinc
- Government Policies: Rules on minimum wage in Vietnam, Vietnam income tax, Vietnam labor laws, and social security benefits all have a direct impact on disposable income. Also, particular government incentives targeted at growing specific areas or businesses might result in pay disparities.
- Company Size and Capital: Bigger companies or those with significant capital are frequently ready to pay higher salaries to recruit and retain the top staff. This is also related to the profit margins and business models of various businesses.
What Is Considered A Good Salary In Vietnam?
According to Salary Explorer, a good salary in Vietnam would typically be around 14.9 million VND per month (600 USD), which is the median salary. The median salary indicates that half of the population earns more than 14.9 million VND per month, while the other half earns less than 14.8 million VND per month.
A good salary in Vietnam. Source: gobankingrates
Although a decent wage in Vietnam varies based on geography, industry, and personal circumstances, it reflects a higher level of life for many Vietnamese, particularly in smaller cities or rural regions. It enables a comfortable lifestyle, covering essentials like food, rent, and transportation.
Nevertheless, in large metropolitan areas like Hanoi or Ho Chi Minh City, the cost of living is greater, so this amount may be low by middle-class standards.
Living Expenses In Vietnam
Vietnam has a wide range of living costs, allowing expats and residents to discover options that fit their budgets. In general, it is an affordable nation to live in. Most things are less than half the price they would be in the West and cheaper than many other Southeast Asian nations.
The following is a breakdown of the general monthly expenses for living in Vietnam, covering transportation, housing, food, utilities, and others.
| Expense | Vietnam Living Cost Per Month ($) |
| Food | $50 |
| Housing | $600 – $900 |
| Utilities | $79 |
| Transportation | $50 |
| Transportation | $37 |
| Entertainment | $660 |
| Personal care | $32 |
Source: Expatistan
Ho Chi Minh is Vietnam’s most costly city, followed by Hanoi. Even in these two cities, a couple may live a decent, middle-class life for less than $2,000 per month. This range includes necessities such as housing, transportation, food, and utilities, allowing them to live comfortably according to their lifestyle preferences.
If you want to live on a tight budget, $500 a month is doable, or even less if you practice extreme frugality. On the contrary, living in a luxury villa and engaging in premium dining experiences might cost more than $4,000 per month.
Prices in regions like Da Nang, Nha Trang, Hoi An, and Vung Tau are significantly lower than in Vietnam’s two main cities. In any of these locations, a monthly budget of $800 to $1,100 will cover a wonderful house or apartment, including utilities, housekeeping, groceries, or dining out every day if desired.
Ms. Tracy has worked in human resource consulting for over 15 years. A driven entrepreneur focused on business expansion and people development. She previously worked as Country Manager for an international Australia firm that specializes in global workforce management, as well as several key roles as Business Growth Director and Executive Search Director for both large local firms to effectively drive their business growth. A strong emphasis is placed on aligning organizational priorities/objectives with business needs. She has a large network of local business leaders and a thorough understanding of the local market.
