Vietnam's recruitment market was upbeat in 2017 and more of the same is expected this year.

According to the newly-released annual Salary Survey from our specialists, which discusses recruitment disciplines during 2017 and predictions for the year ahead, the overall job market in Southeast Asia has remained active despite facing variable economic conditions. This was largely attributed to the region attracting new market entrants and supporting the expansion of existing businesses. The survey also shared optimistic predictions into 2018 in suggesting that the region’s strong economic outlook, ongoing digitalization, and steady market expansion are set to drive salary growth next year.

In Vietnam, rising investment levels and new market entrants in Vietnam led to a buoyant recruitment market in 2017, particularly in the manufacturing sector. Demand was high for mid to senior-level professionals as well as technical specialists in certain industries. There will be demand in the fast-moving consumer goods (FMCG) sector for business development managers, consumer marketing managers, and marketing directors. Candidates moving jobs are expected to receive pay rises ranging between 20-30 per cent in 2018. 

Demand remains high for mid to senior-level accounting and finance managers in multinational corporations, specifically those with technical skills and a good commercial understanding. On average, accounting and finance professionals moving jobs received salary increments of 15-25 per cent in 2017 and this trend is expected to continue in 2018. In the engineering sector, hiring managers will have problems finding people for specialist positions, such as research and development professionals proficient in English.

In IT, demand for data scientists is high. There is also a growing emphasis on digitalization among banks, which led to demand for IT professionals with financial services backgrounds. Those moving jobs generally receive salary increments of 20-25 per cent. 

Private legal practice recruitment will experience higher demand from local and regional firms compared to English and American ones. Salary increments for legal professionals moving jobs are expected to range between 25-35 per cent, primarily due to a shortage of suitable candidates. 

With more large retail firms planning to expand in Vietnam in the future, it is likely that HR professionals with a background in the retail industry will be sought after. Those moving jobs can expect to receive salary increments of 20-30 per cent in 2018.

Due to our clients’ demand for overseas Vietnamese professionals, we launched the “Come Home Pho Good” campaign in May 2016, our outreach program encouraging Vietnamese who have lived or worked overseas to their share insights on the job market in Vietnam and assist them to securing a job back home.  

Multinational corporations now have high demand for senior personnel with international experience. Vietnamese nationals who study abroad and gain an in-depth cultural understanding can easily communicate knowledge and experience to local people. They are also more connected to the company than foreign professionals. In this campaign, we contacted 5,000 such Vietnamese professionals, 1,200 of whom said they are interested in returning to Vietnam to work. Since the campaign was launched, an encouraging number of professionals have been placed through our program. 

Key highlights for 2018

Demand remains high for mid to senior-level accounting and finance managers in multinational corporations, specifically those with technical skills and a good commercial understanding. On average, accounting and finance professionals moving jobs received salary increments of 15-25 per cent in 2017 and this trend is expected to continue in 2018.

In the engineering sector, hiring managers will have problems finding people for specialist positions, such as research and development professionals, who are proficient in English.

Candidates proficient in handling multiple HR responsibilities while displaying a commercial mindset will be much sought after. With more large retail firms planning to expand in Vietnam in the future, it is likely that HR professionals with a background in the retail industry will also be sought after. HR professionals moving jobs can expect to receive salary increments of 20-30 per cent in 2018.

In IT, demand for data scientists is high due to an increase in the use of big data and machine learning/AI. There is also a growing emphasis on digitalization among banks, which led to demand for IT professionals with financial services backgrounds. Those moving jobs generally receive salary increments of 20-25 per cent. 

Private legal practice recruitment will experience higher demand from local and regional firms compared to English and American ones. Salary increments for legal professionals moving jobs are expected to range between 25-35 per cent, primarily due to a shortage of suitable candidates. 

Hiring levels for sales and marketing positions remains positive in 2018. There will especially be demand in the FMCG sector for business development mangers, consumer marketing managers, and marketing directors. Within the FMCG sector, Robert Walters expects senior managers to increasingly become more involved in final screening processes, such as EQ assessments. Candidates moving jobs are expected to receive pay rises ranging between 20-30 per cent in 2018.

The job market for the supply chain, procurement and logistics industry will be brighter in 2018 as more firms gradually set up and relocate factories to Vietnam. 

Mr. Adrien Bizouard/Country Manager, Robert Walters Vietnam

VN Economic Times