Salaries see highest increase in five years

HCM City (VNA) - The average salary in Vietnam has risen by
19.5 percent, the biggest increase in the last five years, according to preliminary results of the Vietnam Salary Survey 2008 by job recruiter Navigos Group.

The results of this Vietnam Salary Survey 2008 were based on the analysis
of data submitted by more than 180 companies representing 15 major industrie
such as manufacturing, finance, IT, construction and engineering,
hospitality and tourism, and pharmaceuticals, from April 2007 to March 2008.

The final salary report will reveal the critical and more specific
findings regarding gross salaries, net salaries, bonuses, allowances and
benefits for hundreds of positions in 75 job categories, said Lia Abella,
the group's project manager.

The report noted that when the economy was booming in 2006 and 2007,
paychecks only rose 9 percent and 12.6 percent, respectively.

The survey's initial results also revealed that the frequency and number
of companies conducting salary reviews several times a year varied widely,
primarily a response to inflation and retention issues.

"The preliminary report findings show that companies are definitely
responding to market factors that have happened recently, like the rise of
inflation," said Abella.

"This report reflects the true insights of the salary trend in the
Vietnamese labour market."

The Vietnam Salary Survey 2008 is not just a report for foreign-invested
companies, but for all businesses operating in Vietnam that want to make
definitive salary decisions aligned with market demands and the unique
demands of each company and industry, according to Abella.

Abella also said these issues must "be considered together, because just
basing it on one factor would be looking at the situation
microscopically."