Average Tet bonus is $288 this year

By Doan Loan   January 5, 2020 | 06:58 pm PT
Average Tet bonus is $288 this year
Workers at a garment factory in northern Bac Giang Province. Photo by Reuters/Kham.
Companies in Vietnam will pay employees an average Tet bonus of VND6.71 million ($288) this year, a 7.1 percent increase from last year.

The average bonus to be paid by wholly state-owned companies is VND6.12 million ($264), the same as last year, according to a report by the Ministry of Labor, Invalids and Social Affairs following a survey of 25,000 companies and 3.15 million workers in 40 provinces and cities.

Domestic private enterprises will pay VND6.27 million ($270), up 0.5 percent, while foreign businesses will pay VND6.91 million ($298), up 11.1 percent.

Around 85.6 percent of companies also reported they paid a bonus to their employees for the Gregorian New Year. The average was VND930,000 ($40), or equivalent to only 73.2 percent of last year’s figure.

In Vietnam, bonuses are agreed between employers and workers, but the government encourages rewards based on performance.

Tet, the Lunar New Year festival, falls on January 25 this year.

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