Foreign firms pay staff 31 pct more than local companies in Vietnam

By VnExpress October 7, 2016 | 12:11 am PT

A man works at a foreign-owned company which produces car and motorcycle parts in northern Vietnam. Photo by Reuters

If you're looking for a pay rise, head for foreign firms.

Foreign companies operating in Vietnam are paying staff 31 percent more than their local peers, a new survey has found.

Managers' salaries at foreign firms are 38 percent higher than the same positions at Vietnamese companies, while the average payment for experts and low-level employees is 30 and 20 percent higher, respectively.

The figures were compiled by the global human resources and business consulting firm Mercer and Vietnamese partner Talentnet in a survey of 244,526 people from 557 companies, including 481 foreign firms. The survey covered 16 sectors including technology, consumer goods, chemicals, banking and education.

The survey forecasts that foreign companies will increase their salaries by an average of 9.2 percent in 2017, while 49 percent of them have recruitment plans and only 4 percent plan to cut back.

> Foreign firms remain key driver of Vietnam's exports