Wednesday , July 24 2024

Hanoi’s highest monthly salary tops $5,000

The highest salary paid out in Hanoi last year was VND125 million ($5,129), according to statistics from the Hanoi labor department.

That’s over $60,000 a year, compared to the national average Vietnamese earnings of $2,300, according to the General Statistics Office data of 2022.

A report by the Hanoi Department of Labor, Invalids and Social Affairs, which surveyed over 3,000 businesses in the city, revealed that the highest monthly salaries were paid by private companies, with the absolute highest in the nation’s capital being VND125 million.

The highest salary at foreign direct investment (FDI) firms was VND70 million.

Companies operating on state capital paid out VND29.8 million at most, and fully state-owned and -run companies paid no more than VND25 million.

As for average monthly salaries, FDI businesses topped the chart at VND7.4 million, followed by companies using state capital, while VND7 million as the fully-private sector’s average.

The statistics revealed that there were not significant changes in Hanoi’s average monthly salaries from 2022 to 2023.

The Hanoi labor department said the city’s production and trade activities in the final months of 2023 encountered several difficulties due to larger market situations and the wider economic crisis. Certain companies lacked the budget to pay their workers, with some even accruing salary debts worth VND1.65 billion.

Workers at such companies have not been paid in full for some time.

This year, the highest Tet bonus in Hanoi is VND205 million, half of last year’s, at an FDI company, according to the labor department.

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