Navigos talent salary guide 2021

Benefits and Expectations of employees Influences of COVID-19 on salary of employees Detailed salary for 4 Groups of Industries .... Bonus and Benefits: Overview 2020 Salary, Bonus and B

04-09 11-14 16-18 20-21 23-166

1 2 3 4 5

General introduction

TABLE OF CONTENT

Expectations about salary in 2021 Some characteristics of salary, bonus, benefits and employee’s expectations in the different sector

Message from CEO

Respondents’ Information

Introduction Job search trends in 2021

Salary Bonus Benefits and Expectations of employees Influences of COVID-19 on salary of employees Detailed salary for 4 Groups of Industries .

Employees’ optimism about the economic prospects of Vietnam Detailed salary for other industries

Factors affecting employees’ job satisfaction Rationale

Disclaimer

05 06 04 11 20 23 97 14 21 17 18 08 09 Salary Bonus and Benefits: Overview 2020 Salary, Bonus and Benefits in 2021: Expectations of employees Talent Guide 2021 Influences of COVID-19, economic prospects of Vietnam through candidate’s perspective 16 .

1 General Introduction

Message from CEO

Respondents’ Information

Introduction

Rationale

Disclaimer

05 06 04

08 09

Introduction of Navigos Group

Established in 2002, Navigos Group is the owner

of the largest recruitment website in Vietnam,

www.vietnamworks.com, and the senior recruitment

services, Navigos Search After 18 years of operation,

Navigos Group has developed and expanded in both

scope and scale Not only is the company working in

the recruitment field, but it is also providing aptitude

testing services with 3E-IP Test products and online

courses for adults on the platform kyna.vn - an

investment that has just been made in late 2019

VietnamWorks is the leading job website in Vietnam

with more than 5 million visits per month Annually,

over 5.5 million applications are sent to more than

126,000 jobs posted on vietnamworks.com Since its

establishment in 2002, VietnamWorks has brought new

jobs to 4.4 million users and has always been a pioneer

in accompanying and providing the best recruitment

solutions for more than 17,000 companies, most of

which are multinational corporations and leading

brands in Vietnam The database of experienced

candidates and prestigious employers of VietnamWorks

is a valuable asset in the competitive recruitment

market in Vietnam

Navigos Group currently has more than 500 employees with headquarters in Ho Chi Minh City and a branch office in Hanoi Since 2013, Navigos Group Vietnam has become a member of en group specializing in providing recruitment services with headquarter in Tokyo (Japan)

Navigos Search is leading in middle and senior recruitment services in Vietnam with a large team of consultants with in-depth industry experience and the biggest database of 300,000 senior candidate resumes Besides, Navigos Search is favoured by customers because of its integrity through adherence

to the recruitment process and quality assurance

at the highest level In addition to middle and senior recruitment services, Navigos Search is currently providing recruitment solutions including outsourcing

of recruitment solutions (RPO), mass recruitment, training and branding consulting for employers

We have just gone through 2020 with lots of new events and experiences both in our life and at work In the field of employment, the COVID-19 pandemic came as “one big wave” posing challenges to the sustainability of economies Businesses in all sectors have been more or less experienced far-reaching impacts, and their employees are adversely and most directly affected by this global epidemic.

According to the International Labour Organization (ILO), nearly half of global workforce

is at risk of losing livelihoods Vietnam has also significantly affected with about 31.8 million people (aged 15 and older) being through job loss, layoffs, working hour and income reduction in the first 9 months of 2020 (statistics from GSO)

To maintain our principles of becoming a partner and providing the most effective supporting service for businesses, VietnamWorks and Navigos Search have immediately launched a campaign to support businesses and job-seekers influenced by the COVID-19 The Talent Guide 2021 conducted by Navigos Group to support customers

by providing them with an overview of the labour market in 2020 as well as trends and forecasts for 2021 We are expected to help customers build the most effective employee recruitment and retention strategies, which will contribute to their business’s recovery and growth in the coming At the same time, we also assist candidates and job seekers to grasp trends in recruitment to have the best preparation in their career path

For more information regarding this survey, please let us know through contact details

of Ho Chi Minh City and Hanoi offices on the last page of this survey

Best regards,

Gaku Echizenya

CEO Navigos Group

Respondents’ Information

Respondents’ working field

Retails / Wholesale

Electrical / Electronic Manufacturing

Construction / Building Materials Manufacturing

Other Manufacturing Industries

Medicine, Medicine and Life Science

IT Software

Apparel manufacturing

Business consulting services

Restaurant, Hotel, Travel

IT Product Packaging ManufacturingChemical ManufacturingEnergy / RecyclingOil

Fintech Leather shoe productionTelecommunication network operatorEntertainment

Navigos Group decided to conduct the Talent Guide

2021 because our consulting team have worked closely

with customers and candidates, and understood the

importance of good employee recruitment and retention

Below are 5 reasons why we carried out this survey:

To help businesses become more competitive in acquiring and retaining talents

To adjust pay rates based on the market reality

To develop a salary structure

Acknowledging the salary of companies in the same industry

Get useful data for human resources in the organization

Acknowledging the real-time salary in the market, businesses can draw up recruitment and retention strategies.

The Talent Guide helps companies adjust salary range and provide benefit package to be attractive to both current employees and potential candidates.

For businesses that do not have a salary sructure, the Talent Guide can help them build it more easily and systematically.

Being aware of companies in the field and sector they are operating will help businesses prepare better HR plans in the future.

Navigos Group’s Talent Guide will provide additional data from employees including factors leading to their loyalty to the business, decision to leave the business and their working satisfaction There is alsso other valuable information for HR departments to plan their HR strategies for the sustainable development of the business.

The salary range in the survey was based on

analysis of responses from nearly 6,000 job

seekers, candidates and employers in Navigos

Group database This was filled in by participants

themselves along with other details about working

locations, positions and years of experience

Besides, the maximum salary for a working position

is also referenced from the employers who are

customers of Navigos Search It should be noted

that the figures shown in this survey are base pay,

excluding bonuses or other financial benefits

Although the data were collected and analyzed

with excellent and detailed care, this survey does

not represent for the whole market This is for

reference only All information on the Talent Guide

2021 should not be copied partially or all without

written permission from Navigos Group

2 Salary, Bonus and Benefits:

Overview 2020

Salary, Bonus, Benefits and Expectations of employees

Factors affecting employees’ job satisfaction

11

14

3 Salary, Bonus and Benefits in

2021: Expectations of employees

Job search trends in 2021 Expectations about salary in 2021 Some characteristics of salary, bonus, benefits and employee’s expectations in the different sectors

1718

16

expectations in the different sectors

“Birthday leave”; “Allowances personal asset purchase”

are special benefits which Finance/Banking offer for its

employees.

Working location is the most important factor in

Packaging Manufacturing, Construction/Building Materials.

Job stability is a top priority for employees in Garment

Manufacturing, Footwear, Electrical/Electronic, Automatic

Machines, etc.

People working in Renewable Energy industry, IT

hardware, Electrical/Electronic manufacturing, Machinery

Manufacturing, Non- profit organizations are satisfied most

with their current working benefits.

Salarry of those working in Hotel, Restaurant, and

Tourism, Education are most affected in terms of salary by

COVID-19.

4 Influences of COVID-19 and

economic prospects of Vietnam through candidate’s perspective

5 Detailed salary for 4 Groups of Industries

Group 1: Banking - Finance - Insurance

Group 2: Manufacturing

Group 3: Information Technology (IT)

Group 4: FMCG - Retails

2324358289

Detailed salary for other industries 97Advertising/Communication

Non Governmental Organization (NGO)

Oil & Gas

Other Industrial Manufacturing

Group 3: Information Technology (IT)

35 37 41 43 47 50 55 63 65 68 75

82 84 85 89 91

One of the remarkable things about Banking sector is desirable compensation package, Pay range is stipulated by the salary structure, and the annual minimum salary increase is 12-16% Decisions to raise wage are relied on KPI, seniority and the overall performance of the company Banking may not have a particular higher salary range than Fast-moving consumer goods FMCG or Retailing, but the employee’s gross revenue

is substantially better owing to the compensation package Additionally, bankers often enjoy bonuses based on KPI, holidays or foundation anniversary The current pay for digital bankers widely varies because of the tight applicant pool.

As for Insurance, pay scale is applied to working-level positions For seniors, wage may vary according to each particular circumstance, given the sector’s great potential of blooming Pay range for some hard-to-fill positions such as Actuarial Analyst sharply varies because of limited number of candidates Similarly, candidates capable of IFRS-based reporting, which is compulsory for insurance companies, are most sought-after Additionally, one of the featured benefits of Insurance sector is employees can purchase insurance with great discount.

“Banking – Finance retain talents

with gross revenue and great

financial interests”

Tuấn Nguyễn

Team Manager - Navigos Search South

Lan Ngô

Regional Director - Navigos Search North

For candidates meeting the requirements for hard-to-fill positions, companies are ready to modify salary range to acquire talents.

For new positions related to digital banking, a few companies have not established the corresponding pay grade and resort to applying market rates or accepting applicant’s demands.

It is often believed that the salary range for banking-finance are higher than average; however, this applies to manager level only As for working level, particularly salespeople, their salary is indeed not substantially higher.

“Banking – Finance companies are

willing to meet emloyee’s salary

expectations”

Chief AccountantAccountantFinance ExecutiveFinancial Planning Analyst

CEODeputy CEO

Head of CollectionCollection ManagerCollection Specialist/Officer

Customer Services DirectorCustomer Services Executive

> 15

10 - 15

01 - 0505-1010-15

2,5002,0115008505456421,000800

15,00010,000

4,0002,000700

1,300300

2,000 1,400340488769

2,5002,0115008505456421,000800

15,00010,000

3,0002,000600

1,300300

4,000 2,000700800900

7,0002,2008001,5008001,5001,5001,200

35,00015,000

8,0005,0001,200

5,000800

4,0002,000600700800

7,0004,5008001,4008001,3001,5001,300

40,00015,000

8,0005,0001,200

4,500780

Head of Retail BankingRegional DirectorRegional DirectorRetail Team Leader/SupervisorRetail Senior Relationship ManagerRetail Relationship Manager

Head of Internal Audit Internal Audit ManagerInternal Audit SpecialistInternal Audit Officer

HR Director

HR Manager

HR Executive

HRBP ManagerTalent Acquisition ManagerTalent Acquisition Executive

Learning & Development ExecutiveC&B Executive

>1510-1510-1505-1005-1001-05

>15

>15 10-15 01-05 01-05 01-05

>15 10-15 05-10 01-05

10-15

>15 10-15 05-10 05-10 10-15 05-10 01-05 01-05 05-10

10,0002,5002,5002,0001,000600

8,0002,0001,7007001,000400

4,0003,0001,500600

8,0003,0001,0004002,6002,0001,000700637850

10,0002,5002,5001,500800600

8,0002,0001,700700600500

4,0003,0001,300600

8,0003,0001,0004002,6002,0001,000700637850

18,0006,0006,0006,0005,0001,200

15,0006,0005,0001,5001,500800

6,0005,0002,5001,300

25,0004,0001,5001,2003,0004,5001,5001,0009001,000

18,0006,0006,0005,0003,500800

15,0006,5006,5001,5001,000800

6,0004,0002,5001,300

16,0004,5001,7001,5003,0004,5001,5001,2001,000950

Experience (years)

IT ExecutiveSystems EngineerHead of Legal Head of Compliance Legal / Compliance ManagerLegal Executive

Head of MarketingDeputy Marketing DirectorMarketing Manager

Product Marketing ManagerMarketing Executive

Graphics DesignerDigital Marketing Executive

Operations ManagerSenior Operations OfficerOperations Officer

CREDIT APPROVAL DEPARTMENTHead of Credit Approval

Deputy Head of Credit ApprovalCredit Manager

Credit Officer/Specialist

>15 05-10 10-15 05-10 10-15

>15 10-15 10-15 01-05

>15

>15 05-10 05-10 01-05 05-10 01-05 10-15 05-10 01-05 01-05

10-15 10-15 05-10 05-10

8,0001,0002,0006371,8006,0004,5002,5008008,0002,0001,7002,0008498156401,2703,0001,000500

4,0003,5002,500500

8,0001,0002,0006371,8006,0004,5002,5008008,0002,0001,7002,0008498156401,2702,0001,000500

4,0003,5002,500500

12,0001,5004,0001,1003,00018,00013,0004,0001,00012,0006,0003,5003,5001,2001,5001,2001,5006,0001,5001,000

8,0005,0004,0001,500

12,0001,5005,0001,0002,30020,00013,0007,0001,00012,0007,0002,0003,0001,1001,4001,1001,5005,0001,5001,000

8,0005,0004,0001,300

Risk Management Risk Management Director

Risk Management ManagerRisk Management Officer

>15 05-10 01-05 05-10

7,0002,5006001,200

6,0002,0006001,200

15,0005,0001,2002,500

13,0004,5001,2002,500

Fund Management Investment Director

Senior Investment ManagerInvestment ManagerInvestment OfficerInvestor Relation OfficerHead of ResearchSenior Research ManagerSenior Research AnalystResearch AnalystTrading ManagerRegulatory Affairs Person In Charge

10-15 05-10 05-10 01-05 01-05 10-15 05-10 01-05 01-05 05-10 05-10

10,0005,0003,0001,5001,5006,0003,5002,0006001,8002,000

10,0005,0003,0001,2001,5003,5003,0001,0005001,8002,500

15,00010,0005,0003,0002,00015,0008,0003,0002,0002,5004,000

20,00010,0005,0002,7002,0007,0005,0002,5001,0002,5004,000

Agency DirectorManager

Head of BancassuranceRelationship ManagerRelationship OfficerSales ManagerSenior Sales Trainer

Head of ClaimClaim ManagerDeputy Claim ManagerClaim Executive

Call Center ManagerCustomer Service ManagerDeputy Customer Service ManagerCustomer Service Executive

10-15 05-10 01-05 01-05

>15

10-15 05-10

10-15 05-10 01-05 01-05 05-10

>15 10-15 05-10 01-05 05-10 05-10 10-15 01-05 01-05

10,000 4,000 2,000

350 3,500

2,600 1,800

4,000 2,000

350 1,000

800

2,500 1,700 1,000

650 2,950 1,300 1,100

250

300

10,000 4,000 2,000

350 3,500

2,600 1,800

4,000 2,000

350 1,000

800

2,500 1,700 1,000

650 2,950 1,300 1,100

250

300

20,000 8,000 3,900 2,000 6,000

3,000 2,500

6,000 3,000 1,000 2,000 1,200

5,500 4,000 3,000 1,500 4,000 3,000 2,000

600

372

20,000 8,000 2,900 2,000 10,000

7,000 2,500

7,500 2,800

850 2,000 1,200

5,500 3,500 2,500 1,400 4,000 4,500 3,000

650

382

Deputy CIOEnterprise Architect

IT ManagerSenior Database Administrator

HR DirectorDeputy HR Director

HR ManagerSenior HR ExecutiveC&B ManagerC&B SpecialistTraining DirectorLearning & Development Manager Talent Acquisition & DevelopmentRecruitment Specialist

>15

>15 10-15

>15 10-15 01-05

>15 10-15 01-05 01-05

>15

>15

>15 05-10

> 15 10-15 10-15 01-05 01-05 01-05

>15 05-10 05-10 05-10

6,000 4,000 3,500 3,500 3,000

500 4,500 3,200

600

425

2,500 9,000 3,000 1,275

12,000 4,000 2,500

650 1,400

425 3,000 2,000 1,000

500

6,000 4,500 3,500 3,500 3,000

500 4,500 3,200

600

425

2,500 9,000 3,000 1,275

12,000 4,000 2,500

650 1,400

425 3,000 2,000 1,000

500

20,000 8,000 5,000 6,000 4,000 1,500 6,000 4,000

700

700

15,000 12,000 4,000 1,500

15,000 10,000 4,000 1,000 3,000

800 12,000 3,500 1,800 1,000

20,000 7,500 4,900 6,000 4,000 1,500 5,500 3,900

800

637

14,000 11,000 5,000 1,500

15,000 10,000 4,000 1,000 3,000

800 12,000 3,500 1,700

>15 10-15

7,000 7,000

7,000 7,000

40,000 20,000

40,000 20,000

Legal & Compliance Legal Executive 01-05 500 1,200 500 1,000

Marketing ManagerMarketing Executive

PR Executive

Head of OperationsSenior Operation ManagerOperations ManagerOperation ExecutiveOperation Executive

Planning DirectorFinancial Planning and Analysis ManagerPlanning Executive

Business Intelligence Specialist

Senior PMO Officer

Head of Product ManagementHead of Product SolutionProduct Manager

>15 05-10

>15 05-10 10-15 01-05 05-10

>15 05-10 05-10 05-10 01-05

>15 10-15 01-05 01-05

05-10

10-15 05-10 01-05

4,500 4,000 5,000 3,000 2,800

600

600

4,000 3,000 2,500

600

500

6,000 1,500

800 1,000

1,275

5,000 2,200 1,500

4,500 4,000 5,000 3,000 2,800

600

600

4,000 3,000 2,500

600

500

6,000 1,500

800 1,000

1,275

5,000 2,200 1,500

8,000 6,000 12,000 6,000 4,000 1,500 1,500

10,200 7,500 5,000 1,200

800

12,000 4,200 1,500 1,500

2,000

10,000 5,000 3,500

8,000 6,000 12,000 5,650 4,000 1,200 1,200

11,000 7,500 5,000 1,150

750

6,500 3,800 1,400 1,600

2,000

10,000 5,000 3,500

Sales Regional Director

Sales DirectorArea Sales Manager

>15

>15

>15 05-10

2,500 2,500 1,500 1,350

2,500 2,500 1,500 1,350

4,000 4,000 2,167 1,500

4,000 4,000 2,000 1,500

Deputy DirectorUnderwriting ManagerUnderwriting Specialist

>15

>15 10-15 05-10

3,000 3,000 1,900

501

3,000 2,500 1,900

501

10,000 8,000 3,000 1,800

11,000 8,000 2,200 1,600

Head of ResearchSenior Research ManagerSenior Research AnalystResearch AnalystInstitutional Sales Manager Brokerage Branch DirectorBrokerage Branch Deputy DirectorBroker Manager

Regulatory Affairs Person in ChargeHead of Investment Banking

Senior Investment Banking ManagerInvesment Banking Manager

Investment DirectorInvestment ManagerInvestment Specialist

10-15 10-15 05-10 05-10 01-05 5-10 10-15 10-15 05-10 10-15 10-15 10-15 5-10 10-15 05-10 01-05

5,0002,0002,000600

2,5002,0001,8002,0003,000

3,0002,000637

4,0005,0002,0001,0006007,0002,5002,0001,4002,0005,0003,0002,5003,0002,000637

12,0006,0003,0002,000

4,0003,0002,5004,0007,500

8,0004,0001,500

10,0005,0004,0002,0001,00010,0004,0003,0002,5004,00010,0005,0003,5007,0004,0001,000

Securities

According to Navigos Search’s observation on the Southern market, three factors facturing into salary range in manufacturing companies are market- based salary structure, company’s pay grades and its budget In addition,

a few large companies can rely on the market pay range or employee’s performance to decide the salary.

Moreover, different employees may enjoy different pay grades for the same position as per their experiences and the company scale

Salary increase rate in Southern manufacturing companies ranges from 10% to 30% based on the business sectors or employee’s performance Energy sector is one example of using desirable salary for talent acquisition strategy On the other hand, Textile or Agriculture sector has not established a market-competive salary range.

“Manufacturing industry currently has

an annual salary increase of 10-30%”

Oanh Trần

Regional Director - Navigos Search South

the market structure and may not often allow deviations for an individual

In certain circumstances, however, the companies may raise the pay above standard to meet employee’s expectations for hard-to-fill positions

or exceptional performance.

The annual salary increase rate often ranges from 3% to 10% Factors facturing into the employers’ consideration are business market survey; increase in Vietnam’s minimum wage, and sometimes workers’ demands The newly employed often enjoy 10-20% higher wage than the formerly For positions requiring foreign language skills apart from English such as Chines and Japanese, several companies may consider a 30-40% higher salary range than other positions This, however, is extremely rare.

For the same position, domestic companies give strictly lower wage than their FDI counterparts, sometimes even a half or a third as much and do not require foreign language skills Business scale is also taken into account, i.e the bigger the higher In addition, U.S companies prefer young employees whereas their Asian counterparts value experiences and maturity.

“Domestic companies give strictly lower

wage than their FDI counterparts”

Hoàn Trần

Associate Director - Navigos Search North

Finance DirectorFinance ManagerChief Accountant General AccountantAccounting ManagerSenior AccountantFinancial AnalystTax Accountant

HR DirectorSenior HR Manager

HR Manager

HR SupervisorTalent Acquisition ManagerHRBP

Recruitment SpecialistTraining ManagerC&B Executive

CEO / Country Manager / Managing Director / General Manager

>15 01-05 05-10 01-05

>15 10-15 05-10 01-05 05-10 05-10 01-05 05-10

>15 10-15 05-10 05-10 05-10 01-05 01-05 05-10 01-05

>15

3,000 1,000

637

350

3,000 2,000 1,500

650 1,800

900 1,300

700

3,500 3,000 1,800

700 1,800 1,200

451 1,500

500

5,000

3,000 1,000 1,800

500

3,000 2,000 1,500

650 1,800

900 1,300

700

3,500 3,000 1,800

700 1,800 1,100

850 1,500

500

5,000

5,000 1,300 1,000

800

6,000 3,500 2,000 1,000 2,500 1,400 2,200 1,000

6,000 4,000 2,500 1,200 2,500 1,500

600 2,200

800

10,000

5,000 1,300 2,500

800

6,000 3,500 2,000 1,000 2,500 1,400 2,200 1,000

6,000 4,000 2,500 1,200 2,500 1,500 1,000 2,200

800 10,000

Production Manager

Production SupervisorProduction Executive

Legal ManagerSenior Legal ExecutiveLegal Executive

Supply Chain ManagerLogistics Executive

Purchasing ManagerPurchasing Officer

Plant Manager

Marketing ManagerMarketing Executive

>15 05-10

10-15 05-10 01-05 01-05

05-10 05-10 01-05

>15 01-05

10-15 01-05

>15

10-15 05-10 01-05

1,800 1,000

1,700 1,500

800

500

2,500 1,300

500

1,800 1,000

1,500 1,000

650

500

2,500 1,300

500

3,000 1,500

3,500 3,000 1,200

800

3,000 2,000

800

3,000 1,500

3,500 2,000

900

800

3,000 2,000

800

Head of SalesSales ManagerAccount ManagerSales SupervisorSales Executive

Warehouse ManagerWarehouse Supervisor

R&D ManagerAssistant R&DR&D Executive

>15 05-10 01-05

>15 05-10 01-05 05-10 10-15 01-05

05-10 01-05

05-10 01-05 01-05 05-10

2,000 1,200

500

3,000 2,000 1,000 1,000

500

3,000 2,000 1,000 1,000

800

8,000 4,000 1,800 2,000 1,500

800

2,000 1,200

800

8,000 4,000 1,800 2,000 1,500

800

2,000 1,200

4,000

600

600 1,100

“For Textiles and Agricultural Production, the floor wage is not really market

competitive Not to mention that candidates are not good at foreign languages skills (English) is also a challenge for employers.”

Vân Hồ

Team Manager - Navigos Search South