Fewer jobseekers expect $850+ monthly salary in HCMC

Only 18.5% of businesses are willing to pay their employees more than VDN20 million, a survey done by the HCMC Forecasting Manpower Needs and Labor Market Information (FALMI) has found.

Less than 25% of businesses are looking for employees they would have to pay VND10-15 million, but 44% of jobseekers are in that compensation range.

The survey shows that economic challenges have brought down jobseekers’ salary expectations, Do Thanh Van, FALMI deputy director, said.

In the last six months many factories have reported plunging orders, forcing them to cut down on expenses and lay off workers.

Businesses also seem to be lowering their recruitment criteria, according to the survey, which polled 42,800 businesses and 76,000 workers.

Less than 20% are looking for college graduates, but nearly 85% of jobseekers are graduates.

Nguyen Xuan Son, a director at recruitment company ManpowerGroup, said that most companies are cutting down on high-salary jobs to reduce costs.

Many are prioritizing temporary workers while waiting for the economic situation to improve, he added.