Salary disparity among FDI firms 19.2 to 1
The ministry noted that, despite the fact that the figure is modest, it still indicated an increase of 19.6% from last year’s average.
Banking, finance and insurance firms applied the highest average salary of VND5.61 million (USD266.68) per month during the year.
It was followed by the IT and telecom industry, which averaged VND5.43 million (USD258.12), with trading firms following, at VND4.68 million (USD222.47).
The lowest salaries were recorded in agro-forestry, with an average of VND3.78 million (USD179.7) per month, fisheries, VND3.85 million (USD183.01), and then the mining and manufacturing sector, paying an average of VND3.95 million (USD187.77).
Among production firms, the highest salary for a miner was just over VND10 million (USD475.37) per month in 2011. This is quadruple the amount paid to servicemen or workers in apparel factories.
For non-production firms, the highest salary for an official of banking, finance and insurance was nearly VND16 million (USD760.6) per month, which is between 1.5 and 2 times higher than other industries.
The average payment applied by wholly stated-owned enterprises reached VND4.41 million (USD209.6), which is higher than the average of VND3.88 million (USD184.44) paid by foreign direct invested (FDI) companies, as well as the VND3.32 million (USD157.82) paid by private firms.
The disparity between the highest and lowest paid employees among FDI firms was 19.2 to 1, among wholly State-owned companies was 8 to 1, while private firms it was 5.5 to 1.
According to Tong Thi Minh, Director of the MoLISA’s Department of Wage and Salary, the data was gathered after conducting a survey of 1,660 companies and over 15,000 workers in 17 cities and provinces nationwide.
However, Le Minh Huan, Deputy Minister of MoLISA said the survey is not comprehensive, as the number of surveyed enterprises accounted for only 3% of the businesses in operation.
The department noted that this year’s average bonus for solar New Year was VND938,000 (USD44.11), which is down 11.4% on year. Bonuses for the traditional Tet holiday reached average of VND3.21 million (USD152.9), up 20% from the year before.
FDI firms topped the list of Tet bonuses, with VND400 million (USD19,015), but were still VND100 million (USD4,753) lower than last year.