Thursday, November 26 2020


2019 Tết average bonus increases countrywide

Update: January, 16/2019 - 16:00
Poor and disadvantaged workers in southern An Giang Province receive gifts from Nguyễn Văn Giàu, chairman of the National Assembly External Affairs Committee on January 11 for the upcoming Tết holidays. Workers are enjoying higher Tết (Lunar New Year) bonuses than last year, according to an official report. — VNA/VNS Photo Công Mạo
Viet Nam News

HÀ NỘI — Workers around the country are enjoying higher Tết (Lunar New Year) bonuses than last year, with the highest amount awarded to an employee reaching as much as VNĐ1.17 billion (US$50,300), according to official figures.

According to the latest figures compiled from 58 of 63 provinces by the Ministry of Labour, Invalids and Social Affairs, the average Tết bonus is VNĐ6.31 million ($270) per person, or roughly equal to one month’s salary. This represents a 11.4 per cent increase compared to last year.

Up to now, the highest Tết bonus of VNĐ1.17 billion was awarded to an employee in the finance-banking-insurance sector in HCM City.

The highest average amount was recorded at a group of joint stock companies with the State being a major stakeholder. They award an average amount of VNĐ6.825 million to employees, a 9.8 per cent rise year-on-year.

Private enterprises came second with an average of VNĐ6.445 million per person. This amount marked a noticeable increase of 26.6 per cent compared to last year.

The FDI sector ranked third with VNĐ6.236 million while State-owned one member company limited came last with VNĐ5.789 million. Both figures are also higher than those of the previous year.

In Việt Nam, Tết bonuses are seen as a major motivation for employees and they affect employees’ job decisions.

According to the latest report by VietnamWorks under the Navigos Group published in late December, up to 53 per cent of jobseekers regularly seek Tết bonus information when looking for jobs. Meanwhile, more than a quarter of employees surveyed said they would quit if their Tết bonus was not up to expectation. — VNS

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