What is considered high salary in Vietnam?
The top professions that pay the highest salary are Mineral and Metallurgy (9.2million VND/month), Banking (7.6million VND/month) and Pharmacy (7million VND/month) while some other jobs like Textile or Food Industry workers only pay their labors with the wage from 2.5 to 3.1 million VND a month.
In the fourth quarter of 2020, paid workers and employees in rural Vietnam earned on average around 6.2 million Vietnamese dong per month. Meanwhile, the average monthly salary for paid workers and employees in urban Vietnam was slightly higher, at approximately 7.3 million Vietnamese dong.
In the long-term, the Vietnam Average Monthly Wages is projected to trend around 7340.00 VND Thousand/Month in 2022 and 7550.00 VND Thousand/Month in 2023, according to our econometric models.
A 2018 HSBC survey found that, taking all professional fields into consideration, the average annual expat income in Vietnam is $90,000 US. Coupled with the cost of living, Vietnam ranks first in the world for increased savings and expendable income.
The average salary in Vietnam is 6.1 million Vietnamese Dong (VND) per month, according to the July 2021 press release by the General Statistics Office of Vietnam. As per the August 2021 exchange rate, this is equivalent to 277 USD/month.
A person working in Thanh Pho Ho Chi Minh typically earns around 19,500,000 VND per month. Salaries range from 4,940,000 VND (lowest average) to 87,200,000 VND (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.
Even in these two places, a couple can enjoy a comfortable, middle-class lifestyle for less than $1,300 per month. Many Westerners who live in Hanoi and Ho Chi Minh City get by spending around $500 per month, but it's a no-frills lifestyle.
The average wage in Hanoi is of 410 US dollar as of 2020, while the average salary in Ho Chi Minh is of 395 US dollars. Vietnam has some of the fastest growing salaries in Asia.
The average home in Vietnam costs approximately $4,500. Monthly rent varies, but the average cost is about $650, and this price often includes utilities.
Below you can find the average prices for street-view houses in different districts, reported by Batdongsan.com.vn: District 1: VND 490 million (USD 21,120) / square meter. District 3: VND 314 million (USD 13,534) / square meter. District 10: VND 261 million (USD 11,250) / square meter.
How much do I need to retire in Vietnam?
If you plan to fund your retirement on only Social Security or a small pension, your monthly budget will go far here. Many expats live comfortably in Vietnam on less than $1200 per month. Regardless if your tastes are modest or luxury, your living costs are less than what you would spend in a MCOL city in the US.
Nonresidents are taxed at a flat tax rate of 20%. Nonemployment income is taxed at rates from 0.1% to 25%. All residents and non-residents are subject to Personal Income Tax in Vietnam.
According to a recent study by Vietnamworks, Ho Chi Minh City has the highest monthly average salary in Vietnam at US$ 456 (VND 10.37 million), 38 percent higher than the national average.
Where Do Expats Live in Vietnam? Expats primarily live in Ho Chi Minh City. Boasting over 100,000 expats, Ho Chi Minh City has English Centers and expat communities. You can enjoy a busy nightlife, engage in business ventures, and meet tons of new people.
Overall, the cost of living in Vietnam is lower than Thailand, even in a major city such as Ho Chi Minh City. As an expat, you can expect to pay about 20 to 30% less than you would in Thailand, although not everything will be more affordable.
- Surgeons / Doctors. Salary Range: from 34,000,000 VND to 97,400,000 VND. ...
- Judges. Salary Range: from 28,500,000 VND to 81,800,000 VND. ...
- Lawyers. Salary Range: from 23,100,000 VND to 66,200,000 VND. ...
- Bank Managers. ...
- Chief Executive Officers. ...
- Chief Financial Officers. ...
- Orthodontists. ...
- College Professors.
In Vietnam, USD $100 Can Get You:
15-18 nights in a budget hotel, or 5-8 nights in a three-star accommodation in Hanoi. 15-20 mid-priced restaurant meals. 1 one-way trip from Hanoi to Da Nang via Livitrans luxury train.
The average pay for a CEO is VND 1,776,645,656 a year and VND 854,157 an hour in Vietnam. The average salary range for a CEO is between VND 1,060,657,457 and VND 2,938,571,916. On average, a Master's Degree is the highest level of education for a CEO.
| MONTHLY EXPENSES | PRICE (in US dollars) |
|---|---|
| Apartment (1 bedroom) | $400 – $600 |
| Apartment (2 bedroom) | $650 – $1,000 |
| Basic (Electricity, water, Cooling, garbage, heating) | $70 |
| Simple entertainment (Cinema, fitness, cafe, … ) | $200 – $300 |
The price range for hatchbacks is 120,000 – 500,000, mid-size sedans range from 600,000 – 12,00,000 and luxury sedans range from 14,00,000 – 45,00,000. SUV's start at 900,000 and go up to 60,00,000.
How much is a co*ke in Vietnam?
| Vietnam - Coca-Cola - price, June 2022 | |
|---|---|
| VND | 7,000.000 |
| USD | 0.298 |
| EUR | 0.300 |
Estimated salaries
The estimated salary for a police officer is $47,044 per year in Vietnam, PR.
On average, most factory laborers earn about 6 million dong (U.S. $256) a month with little or no pay differential for overtime work, workers said.
The law on land ownership in Vietnam is valid for all types of property. A foreign owner can purchase an apartment, house, villa or land. Foreign individuals and foreign entities cannot hold more than 30% of the shares of a building or more than 250 properties in the same district.
Vietnam personal income tax rates are progressive to 35%. Nonresidents are taxed at a flat tax rate of 20%. Nonemployment income is taxed at rates from 0.1% to 25%.
Vietnam is one of the best places in Asia for expats to live abroad, and there are plenty of reasons as to why. For pennies on the dollar, you get a year-round tropical climate and access to modern comforts and conveniences. Here are the best cities in Vietnam for expats to live.
Out-of-the-Box Options. According to the Annual Global Retirement Index for 2022, Mexico, Panama, and Costa Rica, all offer affordable options for retirees. Another option: If you already own a home, you could sell it and add the proceeds to your savings.
And you know what, it was easy to do so in such a country as Vietnam because the living cost was pretty low (even compared to neighboring Thailand and Malaysia) and on many days we were able to spend no more than $20 a day. In total, on average our monthly expenses were around $600 per month.
Cost of living in Vietnam is 5% more expensive than in Philippines.
As a non-resident in Vietnam, a foreigner is welcome and has the freedom to open a bank account in the country. This is highly recommended for quick and convenient transactions, especially if you are planning to reside in Vietnam for more than six (6) months or directly invest to the Vietnamese market.
Which bank is best in Vietnam?
Agribank listed among Vietnam's Top 10 prestigious banks
The 10 banks honoured as the most prestigious commercial banks in the country are Vietcombank, VietinBank, Techcombank, Military Bank, VPBank, ACB, BIDV, TPBank, VIB and AgriBank.
Last reviewed - 28 July 2022. Tax residents are subject to Vietnamese (PIT) on their worldwide taxable income, wherever it is paid or received. Employment income is taxed on a progressive tax rates basis. Non-employment income is taxed at a variety of different rates.
And the most prominent and expensive area is District 1, the CBD. While wealthy families often live in other districts, District 1 is still unequivocally the hub for all premium international business amenities, including top hotels, landmark office buildings, and luxury retail.
In the dating culture of this country, it is also expected of you to meet family members as soon as possible. In the West, this would mean that you are in a serious relationship, but in Asia, it can happen on the first date. Vietnamese people love to hang out with friends, and the larger the crowd, the better.
Ho Chi Minh City is emerging as the economic capital of Southeast Asia and for many years, the city held various international and historical events.
Both countries are roughly the same in terms of safety, with Vietnam having a slight advantage. Scams are a greater risk than violent crime, which isn't really an issue. Thailand is slightly more prone to fraud and petty thefts, but only because it's more popular with tourists.
Both are 'stable' and considered safe for travelling and living, in terms of daily life. Thailand wins hands down with convenience, options and comfort. Travelling around Vietnam, although progressing quickly, is still more of an adventure.
Some say that Thailand has better beaches and a livelier nightlife. Others find Vietnam the most beautiful place on earth and are drawn to its fairly affordable prices. But, apart from the differences, both Vietnam and Thailand are paradisiac places, capable of pleasing the most inquisitive travelers.
Vietnam Annual Household Income per Capita reached 2,178.776 USD in Dec 2021, compared with the previous value of 2,197.480 USD in Dec 2020. Vietnam Annual Household Income per Capita data is updated yearly, available from Dec 1994 to Dec 2021, with an averaged value of 813.323 USD.
The average wage in Hanoi is of 410 US dollar as of 2020, while the average salary in Ho Chi Minh is of 395 US dollars. Vietnam has some of the fastest growing salaries in Asia.
How much is a house in Vietnam?
The average home in Vietnam costs approximately $4,500. Monthly rent varies, but the average cost is about $650, and this price often includes utilities.
According to a recent study by Vietnamworks, Ho Chi Minh City has the highest monthly average salary in Vietnam at US$ 456 (VND 10.37 million), 38 percent higher than the national average.
Fast Facts About Living in Vietnam
Average Local Salary: The average monthly salary of a worker in Vietnam is about $148 per month; those in high paying jobs bring home around $500 per month.
Vietnam's middle class population – currently at 10% – is believed to be the fastest growing in Southeast Asia. The middle class earning USD 714 a month or more in Vietnam will double to 33 million people, about a third of the population, between 2014 and 2020, according to Boston Consulting Group.
Estimated salaries
The estimated salary for a police officer is $47,044 per year in Vietnam, PR.
The price range for hatchbacks is 120,000 – 500,000, mid-size sedans range from 600,000 – 12,00,000 and luxury sedans range from 14,00,000 – 45,00,000. SUV's start at 900,000 and go up to 60,00,000.
On average, most factory laborers earn about 6 million dong (U.S. $256) a month with little or no pay differential for overtime work, workers said.
For a comfortable mid-range experience in Vietnam, it's best to budget $60 to $100 per day for your entire costs. This gives you enough to pay for a comfortable three to four star hotel room, eat in mid-range to high-end restaurants and visit most activities and attractions.
The law on land ownership in Vietnam is valid for all types of property. A foreign owner can purchase an apartment, house, villa or land. Foreign individuals and foreign entities cannot hold more than 30% of the shares of a building or more than 250 properties in the same district.
Vietnam personal income tax rates are progressive to 35%. Nonresidents are taxed at a flat tax rate of 20%. Nonemployment income is taxed at rates from 0.1% to 25%.
What are the highest paying jobs in Vietnam?
- Surgeons / Doctors. Salary Range: from 34,000,000 VND to 97,400,000 VND. ...
- Judges. Salary Range: from 28,500,000 VND to 81,800,000 VND. ...
- Lawyers. Salary Range: from 23,100,000 VND to 66,200,000 VND. ...
- Bank Managers. ...
- Chief Executive Officers. ...
- Chief Financial Officers. ...
- Orthodontists. ...
- College Professors.
The average pay for a CEO is VND 1,776,645,656 a year and VND 854,157 an hour in Vietnam. The average salary range for a CEO is between VND 1,060,657,457 and VND 2,938,571,916. On average, a Master's Degree is the highest level of education for a CEO.
