Since 2017, issues related to wages have undergone many changes compared to 2016.

1. The new regional minimum wage will be applied from January 1, 2017.

From January 1st, 2017, the regional minimum wage applicable to employees working under labor contracts in enterprises is as follows:

Region I: 3,750,000 VND/month

Region II: 3,320,000 VND/month

Region III: 2,900,000 VND/month

Region IV: 2,580,000 VND/month

2. From July 1st, 2017, the basic salary is 1.3 million VND/month.

The basic salary will be adjusted upwards from VND 1,210,000/month to VND 1,300,000/month from July 1, 2017, according to the Resolution on the State Budget Estimate for 2017.

This forms the basis for applying pension rates, social insurance benefits, and preferential treatment for those who have rendered meritorious service to the revolution.

The base salary applies to officials, civil servants, and public employees.

3. Note the distinction between the regional minimum wage and the base salary.

Regional minimum wage: Applies to employees working under labor contracts at enterprises.

Basic salary: Applicable to officials, civil servants, public employees, members of the armed forces, and workers employed in state agencies, political organizations, socio-political organizations, and public service units.

4. Salaries for recent graduates in 2017

Newly graduated students typically have two career paths: working for a private company or working for a government agency. Therefore, the official salary range for newly graduated students is as follows:

For those working for a company:

Region I: 4,012,500 VND/month

Region II: 3,552,400 VND/month

Region III: 3,103,000 VND/month

Region IV: 2,760,600 VND/month

For those working for state agencies or public service units:

- From January 1st, 2017 to June 30th, 2017: VND 2,831,400/month for university graduates and VND 2,541,000/month for college graduates.

- From July 1st, 2017 onwards: VND 3,042,000/month for university graduates and VND 2,730,000/month for college graduates.

5. Probationary salary levels for employees working for businesses in 2017

6. Businesses must quickly develop plans for salaries and Tet bonuses in 2017.

The plan for Tet (Lunar New Year) salaries and bonuses in 2017 at enterprises must be promptly announced to employees before December 30, 2016, in accordance with Official Letter 4577/LĐTBXH-LĐTL.

Of these, the following four groups of businesses are required to develop a plan for salaries and Tet bonuses in 2017:

- A limited liability company with a single owner, wholly owned by the State.

- Enterprises with equity capital or state-owned capital contributions.

- Private enterprise.

- Foreign direct investment (FDI) enterprises.

According to VietQ