Vietnam IT workers unhappy with pay, but rapid change seems imminent

By Vien Thong   July 19, 2018 | 05:23 pm PT
Vietnam IT workers unhappy with pay, but rapid change seems imminent
People work at the office of a tech firm in Hanoi, Vietnam. Photo by Reuters/Kham
A TopDev survey finds supply of engineers falls far short of demand in sector with blockchain set to cause further disruption.

TopDev estimated that only 200,000 workers fully meet the market’s job requirements and demand is growing at 24 percent.

It projected the sector’s needs at 350,000-500,000 workers by 2021.The search for jobs related to blockchain was the highest ever in three recent years, reported in the last three years, TopDev said.

The survey also found that more than 50 percent were willing to switch jobs if they are offered higher salaries and benefits.

The monthly salary for developers ranges from $430 to $1,080, with front-end web developers earning $295-480 and back-end web developers getting $400-555.

Managers earn $1,110-2,400, and this amount could climb higher in future.

If developers have knowledge of and experience in blockchain, their salaries could easily triple due to the exploding demand, it said. Specialists in this area only account for 2-5 percent of IT engineers.

Vietnam has more than 100 technology and 5000 program developing companies in the blockchain segment to serve varies industries ranging from fintech to public services.

It is also reported that other industries like accounting, insurance, etc are looking to adopt blockchain sooner rather than later.

Besides, foreign investors are keen to invest in blockchain technology in Vietnam.

As head of venture investments at SGInnovate, a Singapore company aims to provide human and investment capital for tech startup, Tong Hsien-Hui said “There are lots of opportunities for Vietnamese and overseas companies working together.”

“I want to bring my colleagues and my team to work here since Vietnam has vast human resource talent.”

David Nguyen, chairman of  Regulus Investment Capital Holdings which runs in both Vietnam and Singapore, said 99 percent of human resources in the blockchain segment would come from IT and Vietnam should have proper contingency plans to benefit capitalise on this.

go to top