Good pay, but real estate firms struggle to hire managers

By Dat Nguyen, Vu Le   April 28, 2019 | 07:55 pm PT
Good pay, but real estate firms struggle to hire managers
Managers in real estate companies make VND15-30 million a month Photo by Reuters/Kham
Vietnamese real estate firms are finding it difficult to recruit managers despite offering competitive remuneration.

Most managers in real estate companies make between VND15 million ($646) and VND30 million ($1,292) a month, with 10 percent making more, according to survey results released by Hanoi-based consultancy firm Economica Vietnam.

These managers are experienced, and 88 percent of them having at least a bachelor’s degree, it added.

The remuneration figures match VnExpress data, which shows that a manager at a real estate firm in Ho Chi Minh City makes around VND30 million ($1,292) a month.

Department directors make VND35-50 million ($1,500-2,100), while CEOs make around VND100 million ($4,300).

But 57 percent of real estate firms who responded to the Economica Vietnam survey said finding candidates for managerial positions was a major challenge.

This percentage was higher in the home/apartment and office segment at around 73 percent. Industrial real estate and resort segments had 67 percent and 59 percent of respondents saying recruiting manager.

The majority of surveyed businesses, 62 percent, said that they plan to hire more managers this year. Some of them said that they were willing to pay more than the average salary, but faced a lack of qualified and experienced candidates.

They proposed that real estate training programs be established in universities to increase the supply of qualified managerial candidates.

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