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Salary Guide 2021 - Adecco Vietnam
Salary Guide 2021 - Adecco Vietnam
Vietnam
Salary Guide
Table of Contents
Introduction
About Adecco 03
Our Services 04
Disclaimer 13
Legal 17
Financial Services 37
Professional Services 44
Global leading recruitment, payroll and staffing specialist
Connect with
32,000+ 120+ @AdeccoVietnam
employees globally employees in Vietnam on:
Website
700,000+ 5000+ adecco.com.vn
Associates placed Associates working
globally with clients for our clients Email
everyday everyday vn.info@adecco.com
03
Our wide range of services ensure you both quality and
convenience.
Recruitment Service
• Executive Search / Headhunting Service
• Recruitment Process Outsourcing (RPO)
• Mass Recruitment
Training Service
• Leadership & Personal Development Training
• Digital Skills Training
• Career Preparation Workshop & Personal Coaching
• HR Compliance Training
04
Brand new service that brings you comprehensive insights on
salary ranges & all types of employee benefits within your
specific industry, peer groups & the marketplace.
What we offer
Why us?
05
What you will get
01
Stay competitive in the war for talents.
02
Obtain a clear picture of competitors’ personnel.
03
Manage salary budget & bottom line effectively.
04
Foster employee engagement & satisfaction.
05
Retain top talents & save turnover cost.
06
Enhance knowledge in C&B field as an employer.
07
Spot rooms for improvements.
08
Maintain your company’s reputation.
Contact us now!
Hanoi Office
(84) 24 3218 1190 vn.info@adecco.com
06
Whether you need our on-site recruiters as an extension of
your talent acquisition team, or off-site, or both, we’ve got you
covered.
Limit on internal HR
• Fast growth • High turnover • Lack of sufficient resources
Contact us now!
Ho Chi Minh City Office
(84) 28 3636 58 11 vn.info@adecco.com
Hanoi Office
(84) 24 3218 1190 vn.info@adecco.com
07
We can all agree that 2020 was a 10-year high in Quarter 2/2020.
challenging year for the Vietnamese Consequently, Vietnam's 2020 GDP
economy. COVID-19 outbreaks growth was the lowest in the decade
interrupted Trade and Manufacturing (2011 – 2020) at 2.91%.
activities. The Tourism and Aviation
industries are among the hardest hit.
FDI inflows to Vietnam last year fell by
25%. Business closings and mass
layoffs caused the unemployment
rate in urban areas to reach a
08
The labor market recovery depends crucially on the
spreading of COVID-19. However, as firms are
accelerating the digital transformation process, the need
for IT-related roles, namely Data Engineer, Infrastructure
Engineer, or CTO, is significantly increasing.
Now, job seekers are more On the employee side, only a solid
concerned about occupational background cannot guarantee you
safety and health, both physically top jobs. Instead, consider picking
and mentally. They also take notice up new skillsets. Emotional
of job security and long-term Intelligence, Digital Communication,
career development. To address the Collaboration, and Tech Savvy are
skill gaps, boost productivity, and in-demand skills as we move
retain your competent members, forward. Similarly, Adaptability and
upskilling and reskilling are the best Flexibility are essential to succeed in
investments. the current ever-changing market.
09
With diverse experiences in the HR Adecco Vietnam team can offer more
industry and nearly 10 years in the than just Payroll and Recruitment
Vietnam market, we understand how services. Indeed, we deliver almost all
confusing it is to navigate your essential HR services, from Reference
workforce and career through Check, HR Compliance Training, to
unprecedented challenges. Yet as Work Permit Registration*, to ensure
always, we have got your back! you both convenience and efficiency.
Andree Mangels
General Director, Adecco Vietnam
10
2020 Market Overview
Despite the adverse impacts of the COVID-19 pandemic, many measures have
been taken to prevent the macroeconomic downgrades, thereby stabilizing the
Vietnamese economy and moving forward in the new normal.
Hardest-hit sectors
For more experts’ insights & tips on Vietnam market & nurturing talents,
log on to adecco.com.vn
11
Most-used cost reduction initiatives
58% 26%
37% 16.5%
28% 12.4%
Signs of recovery
1 2
3 4
Source: General Statistics Office of Vietnam (GSO), VnExpress, Nikkei, The Diplomat & Adecco Vietnam Survey
12
Disclaimer
The Adecco Vietnam Salary Guide 2021 is a
Vietnam.
other considerations.
salary only.
13
Human Resources
Market Overview
2020 with the emergence of COVID-19 leaves indispensable.
corporates unprepared and poses challenges for COVID-19 has led the entire global economy to
the recruitment industry. Cost optimization and "the new way of work" with technology playing a
business continuity require companies to key role. Thus, HR professionals with initiatives,
inevitably put their HR-related hiring on hold at adaptability, and experiences in organizational
times as they prioritize recruiting front-liners restructuring and development are most
such as sales professionals. Nevertheless, there sought-after.
has been a growing demand for specific roles,
especially HR Manager for SMEs, HRBP, and L&D
Manager as their values in such organizations are
Van Nguyen, Team Leader, HR & Legal & Ha Nguyen, Director, Hanoi Office
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
Board of Management
Talent Acquisition
15
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
16
Legal
Market Overview
Alongside the slow hiring pace for back-office practitioners across law firms. Nevertheless, the
functions, in-house legal recruitment has been in low establishment of local and international law firms has
volume in 2020. However, shedding light on the legal prompted a movement of legal professionals, mostly
marketplace, sectors not hit by Coronavirus, such as mid-level lawyers. The shift of senior lawyers is
E-commerce, Software, Energy, and Pharmaceuticals, noticeable towards year-end when the economy has
emerges the need for Legal specialists with strong slightly recovered.
business acumen and excellent interpersonal skills. Overall, 2020 witnesses a tendency of legal
The global spread of COVID-19 has considerably professionals gravitating towards workplaces with
affected M&A deals in private practice. Hence, competitive remuneration and/or newly created roles
Van Nguyen, Team Leader, HR & Legal & Ha Nguyen, Director, Hanoi Office
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
Law Firm
In-house Legal
18
Technology & Media
Market Overview
The drive to digital transformation has been solutions provided.
speedy in recent years, and COVID-19 has given Following the recent need is the emergence and
corporations a strong push. With the hugely future of the Data Engineer roles. Data
rising demand for digital media, cloud, and engineering was born during the adoption of “Big
security solutions, IT Infrastructure roles are Data” architectures and systems in Vietnam and
highly sought after. the region. Thus, hiring demand for this role has
Alongside the unicorns’ growth in Asia, startup been significant in 2020 and as a result, supply
CTOs are painting a more colorful picture in the has not been filled as the qualified candidate pool
Vietnam tech market as they have been making is scarce.
huge impacts with their unique products and
Software
1-5 180 - 250 mil 80 - 150 mil
CIO - CTO
5+ 250 - 400 mil 120 - 250 mil
20
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
E-commerce
21
Sales & Marketing: FMCG
Market Overview
The recent years have been a busy time for the Along with that is the intensive promotion of
E-commerce market in Vietnam. Because of virtual sales channels. Consequently, the
technological advancements and the emergence E-commerce Manager position is now among the
of COVID-19 in early 2020, consumer behavior is most in-demand jobs, together with Digital
changing dramatically. With more and more Marketing professionals.
people turn to online shopping, the
offline-to-online (O2O) model has been adopted
widely as an attempt to generate sales while
remaining social distancing.
Board of Management
23
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
24
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
Retail
1-5 70 - 90 mil 90 - 110 mil
Retail Director
5+ 90 - 130 mil 110 - 130 mil
1-5 80 - 90 mil 70 - 80 mil
Head of Operations
5+ 90 - 130 mil 80 - 110 mil
1-5 35 - 45 mil 45 - 55 mil
Store Manager
5+ 45 - 80 mil 55 - 70 mil
1-5 80 - 90 mil N/A
Purchasing Director
5+ 90 - 110 mil N/A
25
Sales & Marketing: Healthcare
Market Overview
2020 will be remembered as a challenging and Development professionals are highly sought
unpredictable year for many industries, including after, accounting for a large portion of hiring
Healthcare. The recruitment demand for this requests, alongside the usual need for product
year has slowed down. Meanwhile, we noticed managers. Given the limitation of people contact
that businesses have been focusing on due to virus precautions, digital sales and
strengthening their existing workforce. Internal marketing approaches in the Healthcare sector
training, re-evaluation, and re-assign are the have been shifted as a new focus for
most common practices that were adopted to pharmaceutical firms. Hence, Sales and
improve employee efficiency. Marketing experts with digital exposure are in
As a result, Sales Force Effectiveness and Talent high demand.
General Management
27
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
Marketing
28
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
29
Sales & Marketing: Industrials
Market Overview
Facing unprecedented challenges since the are still in higher demand than other supporting
COVID-19 outbreak, most companies have not functions. Though also impacted by the African
settled a clear growth strategy for 2021 yet. Swine Disease and COVID-19 situation,
The hiring freeze is the most prevalent direction Agribusiness such as crop protection, animal
from the top management. They attempt to feed, and nutrition remain noticeable recruitment
maintain the current business operations and the needs. E-commerce, Logistics, and Delivery jobs
number of headcounts, rather than focus on are now emerging trends.
aggressive expansion as in previous years. So far, On the candidate’s side, recently people prefer
most of the new hires are replacements for key more flexibility with home-based jobs or remote
positions. Sales and Business Development roles work model.
Board of Management
31
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
Marketing
32
Engineering & Manufacturing
Market Overview
The tremendous impacts of COVID-19 caused competitive edge in terms of labor cost and
many SMEs to resize their business or put infrastructure readiness.
employees on unpaid leave or furlough. However, By 2021, high-tech and electronics
as Vietnam successfully contained the virus, manufacturing sectors are forecasted to
various sectors of the economy have been accelerate the growth, following the subsidy
establishing a new normal. programs from developed countries to provide a
More specifically, industrial production showed a buffer to large global manufacturers to realign
relatively high growth rate since the end of the supply chain out of China.
Quarter 2, 2020 as Vietnam still holds a strong
Engineering
34
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
35
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
36
Financial Services
Market Overview
Thanks to its success in containing the COVID-19 Europe, Hong Kong, and Singapore. The demand
situation, Vietnam becomes a potential investee for those vacancies can be considered a
market to many giant private equity fund significant labor movement in the financial
managers. The top emerging positions are market in the fiscal year of 2020 and 2021.
Investment Director for private equities; Listed Also, as people are more aware of their
Equities Investment Director, Director of well-being, healthcare and insurance firms are
Investment Banking and Head of Equity Research expanding and looking for Healthcare
for FDI securities firms; M&A Director, Group CEO Consultant, Head of Business Transformation,
and Group CFO for companies funded by asset Chief of Innovation, Head of Bancassurance/
managers from Japan, South Korea, the USA, Insurance Solutions.
Fund Management
5+ 60 - 90 mil 60 - 90 mil
38
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
Head of Personal
1-5 90 - 115 mil N/A
Financial Services -
Retail Banking /
Mortgage / Consumer
5+ 120 - 210 mil 110 - 175 mil
Lending
Strategy
39
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
40
Finance & Accounting
Market Overview
Impacted by COVID-19, worldwide recruitment perform more tasks and further develop themself.
situations turn to a whole new normal stage. For high-level positions, corporates prefer
Most companies have not defined their strategy employees who possess additional stakeholder
for 2021, especially Hospitality and premium management skills rather than those who only
service companies. FMCG, Food retail, Pharma, have solid academic experience.
and Electrical industries were slightly impacted, Plus, some big FDI corporates have moved their
while Textile, Footwear, Fashion Retails had accounting shared service hub out of Vietnam. An
significant damage. employee from the Accounting department
Localization is the most common practice on might rotate to another department, such as
market last year. Employees have the chance to Internal Control or Financial Planning.
approach for companies who need expertise advantages. Even though venture capital faced
without having to place full-time staff. many loss cases with start-up companies, they
still silently searched for new and applied
Additionally, keep in mind that the demand
solutions to invest in.
for Accounting positions is growing recently.
There is also a high hiring demand for
Investment Banking positions in banks and
securities. Activities regarding the bond,
treasure, and wealth management are
developed stronger than ever.
Finance
1-5 200 - 280 mil N/A
CFO
5+ 250+ mil 230 - 380 mil
1-5 150 - 180 mil N/A
Finance Director
5+ 180 - 250 mil 150 - 220 mil
1-5 40 - 60 mil N/A
Finance Manager
5+ 60 - 90 mil 60 - 85 mil
1-5 40 - 50 mil N/A
Finance Controller
5+ 50 - 100 mil 80 - 95 mil
42
Monthly Gross Salary (VND)
Experience
Position
(years) Ho Chi Minh City Hanoi
43
Professional Services
Market Overview
The COVID-19 outbreak leads to a decline in operational excellence. An ideal candidate also
hiring demand across multiple sectors, including needs to be excel at managing senior
real estate, hospitality, education, and business stakeholders, budgeting, planning and analyzing
consulting. For some firms in these sectors, layoff financial status. Besides, as businesses are paying
and workforce reduction become unavoidable or more attention to digitalization post-COVID-19,
temporary solutions to stay afloat. those who have good command of digital
As Vietnam gradually adapts to the new normal, transition and business transformation can gain a
businesses are looking for seasoned leaders who huge advantage.
can navigate through rough seas. The most
searched criteria are strong business acumen and
offer customized solutions are highly Furthermore, the way we work is likely to
Board of Management
Sales
45
Thank you
for your interest in
our content!
See our Salary Benchmarking
Service (page 05 - 06) for a detailed
analysis of employee benefits within
your specific market.
Ms. Thanh Le
adecco.com.vn Director, Ho Chi Minh Office
thanh.le@adecco.com