Income over 2,000 USD/month of many corporate 'bosses'

In recent years, the salary and bonus levels of state-owned employees have always been higher than the average. However, for leaders of state-owned corporations and groups, the salary and bonus levels are determined according to general regulations and the business situation of the enterprise.

Many state-owned corporations and groups have large assets and manage hundreds of thousands of workers, but the income including salaries and bonuses of the leadership is only equivalent to about 2,000 USD/month.

The senior leaders of the Vietnam National Coal and Mineral Industries Group (TKV) have an average income of about 41 - 52 million VND/month, or around 2,000 USD. In particular, the Chairman of the Board of Members of TKV, Mr. Le Minh Chuan, has an income of 626 million VND/year, equivalent to 52.2 million VND/month.

The leaders of the Coal and Minerals Group are ranked among the highest, earning over $2,000/month. Photo: Internet

General Director Dang Thanh Hai has an average income of 50.7 million VND/month. Four members of the Board of Members, Mr. Nguyen Van Hai, Pham Van Mat, Vu Thanh Lam, Nguyen Chien Thang, all have an average income of 46.4 million VND/month. This figure for the positions of Deputy General Director and Controller is 41 - 48 million VND.

Meanwhile, at Vietnam Electricity Group (EVN), key leaders such as General Director Dang Hoang An, Deputy General Directors Dinh Quang Tri, Nguyen Tan Loc, and Nguyen Cuong Lam all have an income of about 600 million VND/year, equivalent to about 50 million VND/month.

Chairman of Vietnam Posts and Telecommunications Group (VNPT) Tran Manh Hung also has an average income of 600 million VND/year, while General Director Pham Duc Long has an income of 575 million VND.

In 2015, VNPT spent about 8,387 billion VND on salaries for its employees. Of which, the salary fund for 14 leaders was 6.4 billion VND, an average of about 460 million VND/person/year.

Many opinions from VNPT said that this is a rather low income compared to the scale and operational efficiency of the group, leading to a lack of competitiveness in terms of human resources compared to competitors in the same industry. Therefore, VNPT has proposed that the State amend regulations to increase salaries and bonuses for management officials.

At the Vietnam Oil and Gas Group (Petro Vietnam) - the enterprise with the largest asset scale in Vietnam today, the official figures on income from salaries and bonuses of the top leaders are not much different from the general level. In a rare report on salaries and bonuses published by Petro Vietnam, in 2014, the average income of 17 senior leaders of the group only reached an average of 624 million VND/year, equivalent to 52 million VND/month.

At some other large State corporations, the income of the "big bosses" also does not exceed the threshold of 2,000 USD/month.

Illustration.

At Vietnam National Tobacco Corporation (Vinataba), the average income of 12 senior leaders is 44.1 million VND/month. Vietnam National Cement Corporation (Vicem) paid an average salary of 47.6 million VND/month to leaders in 2015.

At the Southern Food Corporation (Vinafood 2), in 2015, the average income of management staff was 29.64 million VND/month. Meanwhile, 10 leaders of the Northern Food Corporation (Vinafood 1) had an income of about 40.7 million VND/month.

The average income of 8 leaders of Saigon Jewelry Company (SJC) in 2015 was 30.35 million VND/month, and in 2016 it is expected to decrease to 23.25 million VND/month.

In a more general picture, according to a report by the Ministry of Labor, War Invalids and Social Affairs, the average salary of the State-owned enterprise sector led in 2015, with about 7.04 million VND per month, the FDI enterprise sector was only 5.47 million VND, and the private sector was 4.99 million VND.

According to Kieu Chau/vneconomy