A survey by Anphabe of the banking, financial service and insurance sectors spoke to 7,000 employees at 35 large companies. It found that 60 percent of workers were unsatisfied about their incomes.

VietNamNet, after analyzing the average income of bank officers in the first quarter of 2023, found that 10 out of 28 listed banks paid salaries of over VND30 million a month and allowances on average.

Notably, officers of Techcombank, Military Bank and SHB had average monthly income of over VND40 million.

The 2022 financial reports of insurance companies in Vietnam also showed that wages and other expense items (compulsory insurance premiums, allowances…etc) of some companies such as Manulife, AIA, Fubon and Prudential were also relatively high, which was a dream of workers in other business fields.

The average spending at Manulife was VND82 million per head per month, while it was VND81 million at AIA. Meanwhile, Fubon Vietnam paid VND78 million and Prudential VND74.32 million.

Anphabe’s report showed that 32 percent of personnel in banking, financial service and insurance said they would consider shifting to other businesses if they resigned from their current posts.

The survey found that the expectation for wage increase of workers in the industry is 11.3 percent of the total. 

Only 36 percent of polled workers said they were satisfied about wages and bonuses, and more than 60 percent said current pay is not commensurate with their efforts and dedication.

In fact, it is not easy to be fully satisfied with current jobs, even though workers are handsomely paid. There are many reasons for this.

Nguyen Hoai Thu, an officer of a bank in ‘the big four’ group, said that she got VND30 million a month, which, in the eyes of other people, is a good pay, but she believed that it doesn’t deserve what she contributes to the bank’s development.

“My working day lasts 12 hours, from 8am to 8pm. I nearly don’t have time to take care of my family members. My husband and mother have to undertake housework,” she complained.

Anphabe has also carried out a small survey on 30 HR directors on the strategic orientations and personnel solutions for the time to come. About 28 percent of businesses plan to downsize the staff in the next six months, by 10 percent.

Tuan Nguyen