The average salary in 2024 will increase by 4%, with the highest salary being 863 million VND per month. Some localities with high salaries include Ho Chi Minh City, Dong Nai, Thua Thien-Hue, and Bac Ninh.
In 2024, the minimum wage applied in the enterprise sector will increase by an average of 6% from July 1, 2024 according to Decree 74/2024/ND-CP, however, the average salary in 2024 will only increase by 4% compared to 2023.
According to a report from 52,440 enterprises with 5.72 million employees in 63 provinces and cities across the country, the highest salary in 2024 is VND 863 million/month for senior management positions at foreign-invested enterprises in the field of construction project management consulting in Ho Chi Minh City.
Some other localities also have high salaries including: Dong Nai is 692.6 million VND/month, in Thua Thien-Hue is 657.25 million VND/month and in Bac Ninh is 500 million VND/month... These are also employees in senior management positions at foreign-invested enterprises.
Synthesis of reports from 63 provinces and cities shows that the average salary in 2024 of workers is estimated at 8.88 million VND/month, an increase of 4% compared to 2023 (8.5 million VND/month).
The average salary of a single-member LLC with 100% state capital is VND 10.91 million/month, up 9.8% compared to 2023; followed by a company with shares and capital contributions controlled by the state at VND 10.07 million/month, up 7.5%; a foreign-invested enterprise at VND 9.28 million/month, up 0.1%; a private enterprise at VND 8.1 million/month, up 1.2%.
The highest annual salary of a foreign-invested enterprise is 863 million VND/month, a private enterprise is 471 million VND/month, a company with shares and capital contributions controlled by the State is 171 million VND/month, and a one-member LLC with 100% of charter capital held by the State is 135.3 million VND/month.
The survey results on average income of workers in 2024 by the Center for Human Resources Forecasting and Labor Market Information of Ho Chi Minh City (Falmi) show that there is a significant difference in income of labor groups. The average income of management workers is 13.22 million VND/month; indirect workers is 11.17 million VND/month; direct workers is 10.88 million VND/month.
According to Falmi, the average income of labor groups reflects the work performance, contribution level and responsibility of each labor group for the operation and development of the enterprise.
In 2025, the Ministry of Labor, War Invalids and Social Affairs will continue to improve institutions and guidelines in the field of labor relations and wages to meet the requirements of the market mechanism and international integration, including continuing to advise the Government to promulgate a minimum wage for employees working under labor contracts.
It is expected that the Ministry of Labor, War Invalids and Social Affairs will issue circulars guiding wages in state-owned enterprises when the Decree regulating labor management, wages, remuneration and bonuses for state-owned enterprises in the spirit of reforming wage policies under Resolution No. 27-NQ/TW is issued.
The Ministry of Labor, War Invalids and Social Affairs will focus on developing a Decree on workers' representative organizations and collective bargaining to promulgate and implement in accordance with the Resolution of the Central Executive Committee on international integration to ensure political security, social order and safety, avoid exploitation, and affect national and ethnic interests and the production and business environment of enterprises.
In addition, the Ministry of Labor, War Invalids and Social Affairs will continue to guide, support and implement labor, wage and labor relations policies, focusing on strengthening guidance and implementation of labor and wage laws; strengthening and supporting parties in enterprises to conduct dialogue, negotiate and sign collective labor agreements to build harmonious and stable labor relations; continuing to support provinces/cities to improve the labor dispute resolution system according to the 2019 Labor Code.
According to the Department of Labor Relations and Wages (Ministry of Labor, War Invalids and Social Affairs), reports from localities show that 49 enterprises in 21 provinces and cities owe 161.22 billion VND in wages to 7,276 workers, an average debt of 22.16 million VND/person, of which 13.86 billion VND in wages to 930 workers have been settled.
Through discussions with the Department of Labor Relations and Wages, localities said that many businesses have planned to pay wages owed to employees before Tet to ensure the lives of employees.