The highest paying banks in Vietnam

Income from 15 to 20 million VND per month and increased compared to 2010 is only available at a few large banks. At medium-sized banks, employee income has decreased by 50% compared to before.

High average salaries and incomes are almost exclusively found among employees of large banks.
Illustration: Hoang Ha.

In 2011, the average salary of Vietinbank employees was 20.27 million VND, income was 20.76 million VND. Compared to 2010, in 2011, employees of this bank received 2.21 million VND higher income.

At Vietcombank, while the average income of employees reached 22.4 million VND (5.41 million VND higher than in 2010), the salary was only 18.9 million VND after deducting insurance payments.

According to updated financial reports, Saigon Thuong Tin Commercial Bank (Sacombank) is temporarily ranked third with an average employee salary of 14.7 million VND per month. Income alone is 19 million VND, an increase of nearly 10 million compared to last year. ACB is ranked fourth, with an average employee income of more than 15 million VND, an increase of 6 million VND compared to 2010. Regarding salary, ACB does not have specific figures.

Saigon Hanoi Joint Stock Bank (SHB) is one of the units rumored to pay the second highest salary after the state-owned sector. However, in the separate financial report for the fourth quarter of 2011, the average income of employees was only 4.5 million VND per month, lower than in 2010.

Speaking to VnExpress.net, a senior SHB leader said that, up to now, there has been no specific data on the average income of employees in 2011. He informed that compared to the average of 10.3 million VND last year, it is likely that the income of employees this year will be the same or even higher. The average figure of 4.5 million VND in the fourth quarter of 2011 is lower because recently, SHB has focused on expanding its network and recruiting more employees, so the income per capita has decreased.

This leader said that in 2011, with higher profits than the previous year (nearly 400 billion VND), it cannot be said that the income of this bank's employees decreased. He also denied the rumor that SHB is the bank that pays the "biggest" salary in the industry and said that, like other units, the amount of money employees receive will be commensurate with their efforts, work position as well as the bank's business results.

At Eximbank, the separate financial report for the fourth quarter also showed that the average employee income was about 7 million VND, lower than the 10.5 million VND in 2010. As of the end of the fourth quarter of 2011, the number of employees of this bank was 5,421, an increase of 958 people compared to the end of 2010.

The leader of a state-owned commercial bank explained that each unit has a different way of calculating unit prices. Therefore, comparing the average income of employees of these units with each other is somewhat unsatisfactory. He said that it is necessary to calculate all expenses that employees do not receive such as social insurance, health insurance, health insurance, unemployment insurance, etc., then take the final number that employees receive for comparison, then we can conclude whether it is high or low.

An accountant at another state-owned bank - who directly keeps the books related to business results, profits as well as salaries and bonuses for employees - said that at first glance, the amount that employees receive seems high, but that is only the average, not everyone gets it. Even the Tet bonus numbers of banks, which many people compare with the income of other industries, are not proportional. Because when making final accounts, the figures are only averaged.

Expressing about the high average income compared to 2010 of his bank's employees, an ACB leader said that in 2011, the bank's business results were relatively good. Therefore, paying employees higher salaries than the previous year is also normal. However, according to him, compared to the whole system, this is not too high. "We have to look at the specific statistics of each bank to see that many places pay much higher salaries," this leader shared.

According to him, the average salary that ACB receives includes two types: hard salary and soft salary (business salary in addition to the fixed monthly salary paid to employees). In addition, not all departments receive high incomes of up to more than 15 million as shown in the financial report. If calculated, the average salary may not be that high, he said.

Average income statistics table of some banks in 2011

According to: VnExpress