Vietnam minimum wage per day 68 million. e. Mar 2, 2023 · Thereby, from July 1, 2022, Vietnamese employees working at the old minimum wage rate who have undergone vocational training as prescribed in Clause 2, Article 5 of Decree 90 will be increased to the new minimum wage of plus 7%. Apr 1, 2024 · Minimum Wage Regulations; About the Minimum Wages Database (English) This page is maintained by Mywage. Aug 27, 2024 · Minimum wage. This adjustment represents a compromise between the 6. Jul 3, 2024 · Mr. From 1 July 2024, the Vietnamese government sets new minimum wages through Decree 74/2024/ND-CP. 76) for an 8-hour day, from 4,800 kyat (US$2. 56 per day for employees working five days per week; and Since there is no such thing like a minimum wage so the real question is average salary in what field? If you’re a manual labor, the average is very low. 45 million. 160. 27 percent, this may see another wage hike necessary in the not-too-distant future. Minimum wage with effect from April 1, 2024; Minimum wage with effect from April 1, 2023; Minimum wage with effect from May 1, 2022; Minimum wage with effect Jun 30, 2023 · The minimum wage for non-agricultural workers in Metro Manila will increase to P610. Jul 1, 2024 · Depending on different regions, the minimum monthly salary will increase to up to VND4. 5 to 5 percent suggested by the Vietnam Chamber of Commerce and Industry. Region 4 : Statutory minimum wage per month is 3,250,000, Statutory minimum wages per hour is 15,600. 36), which varies between regions. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law. The minimum wage is 50 Gambian dalasi (GMD) a day or roughly 23. Sep 6, 2024 · The Vietnamese government implemented a 6% increase in the monthly minimum wage across the country, tailored to the cost of living in each region: Region I (Hanoi, Ho Chi Minh City, Hai Phong, Bien Hoa, Thu Dau Mot, Vung Tau): The minimum wage is 4,960,000 VND. The new minimum wage works out as follows for workers in city council or municipal council areas: US$12. 96 per day for employees working six days per week; US$15. 60 THB/Day from 1973 until 2025, reaching an all time high of 374. It has replaced the previous Decree 38/2022/ND-CP and has demonstrated the State’s concern for the lives and needs of the majority of workers in today’s society. 96 million; Region 2 to VND 4. 86-11. Before implementing a new wage hike, organizations must prepare for and take into account the increase in HR expenses, operational capacity, and costs. Daily minimum wage rates for smal Mar 2, 2023 · Thereby, from July 1, 2022, Vietnamese employees working at the old minimum wage rate who have undergone vocational training as prescribed in Clause 2, Article 5 of Decree 90 will be increased to the new minimum wage of plus 7%. Minimum wages will often fluctuate as the economy improves. On 30 June 2024, the Vietnamese government issued both Decree No. The monthly minimum wage in Malaysia’s 56 major cities is 1,500 ringgit (US$337). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country. Sierra Leone. 56) per day for employees working five days per week; and Aug 10, 2023 · The survey, which was conducted on 3,000 workers and 157 businesses in six provinces and cities before the first round of regional minimum wage negotiations in 2024, showed that 52. The 7% increase was agreed upon by the 6 members of the National Wage Council after two bargaining sessions in 16. 5 percent, while in 2017 the minimum wage was hiked by 7. The new rate impacts both public and private sector workers in the country and means employees will see a 20 percent increase from the previous salary. This increase is equivalent to a rise of VNĐ180,000-260,000 (US$7. Lebanon. The Minimum Wages Order 2022 also set out the minimum wage rates for employees paid on daily or hourly basis, with the hourly minimum Jun 1, 2024 · Living Wage Update 2024: Minimum Wage Region 4, Vietnam By Agnes Medinaceli Lykke E. In accordance with section 91 of the Labour Code 2019, workers' salary must at least be equal to the minimum wage, i. The previous minimum wage hike was implemented in Cambodia Minimum Wage Benefits In addition to the monthly minimum wage, workers will also receive other fringe benefits. 95 USD. Vietnam - Minimum wages. 73/2024/ND-CP ("Decree No. $138. 3. 86 workers living in Region 1 areas as defined in Vietnam’s minimum wage regulations. 25 per hour in 2020—the 17th highest in the world, but barely half that of the global leader, Australia. This is the second time in the last four years where the minimum wage is increased at the beginning of July, the last time being in 2022 due to the impacts of the Covid-19 pandemic. Regarding the hourly minimum wage, region 4 is 3. 5 million higher-paid workers may indirectly benefit from wage adjustments. 61) in Region 1 to 4. Vietnam ’s minimum wage regime and paradoxes. For example, the minimum wage in Region I is 4,680,000 VND/month. The hourly minimum wage will also increase by 6%, ranging from VND 16,600 to VND 23,800. Aug 8, 2024 · Starting from July 1, 2024, the basic salary rate is 2,340,000 VND/month. Jul 18, 2022 · A Vietnam minimum wage decree increasing monthly minimum wages and specifying hourly minimum wages took effect July 1. Jul 1, 2024 · From June 26 to June 28, 6, more than one million candidates across the country overcame all difficulties to complete the 2024 High School Graduation Exam. Min wage per hour in the US is $7. 000 VND/month and Region 3 is 3. 96 million, while the minimum hourly wage will increase by up to VND23,800. The minimum wage in Bhutan is BTN3,750 ($45. 12) per day as originally proposed, due to fears of the adverse effect on small and medium-sized enterprises Jul 16, 2024 · In brief. A 6% Increase for 2024. 71) per Oct 4, 2023 · In addition to the minimum wage, workers will also receive the following benefits: Attendance bonus — US$10 per month; Travel and accommodation expenses — US$7 per month; Meal allowances — US$0. 38, the minimum monthly salary is being applied from July 1, 7 to the end of December 2022, 30 in 12 regions including: Region 2023 is 4 VND/month; region 1 is 4. Feb 20, 2024 · The minimum wage rate is set at 1,970 Kyrgyzstani som (KGS) or 23. 68 million dong in Region 4, up from a range of 3. Representing the workers, the Vietnam General Confederation of Labor, proposed a proposal to increase the regional minimum wage in 2024 from 5 - 6%. 00, benefiting over a million workers. 00 THB/Day by the end of 2024, according to Trading Economics global macro models and analysts Nov 24, 2023 · The union believes that the National Wage Council needs to meet soon to discuss increasing the minimum wage to adjust with wage reform in July 7. However, very few companies pay at minimum wages. 2 percent a year between 2012 and 2022, and inflation for the first 11 months of this year pushing 4. Feb 1, 2022 · Current regulations on minimum wages in Vietnam. 4% on the year. The country is divided into four regions, with Region One having the highest minimum wage and Region Four the lowest. 68 million ($140. The minimum wage The table below lists the current prevailing 2024 minimum wage rates for every state in the United States. 74"), regulating the regional minimum wage (RMW) for employees working under May 24, 2021 · For details, major cities in Vietnam have the highest minimum wage, at VND 4,420,000 per month. Click any state for details about the minimum wage, exemptions, and other state labor laws. List of areas to which the regional minimum wage applies * Region I, including the following areas: - The districts and districts of Gia Lam, Dong Anh, Soc Son, Thanh Tri, Thuong Tin, Hoai Duc, Thach That, Quoc Oai, Thanh Oai, Me Linh, Chuong My and Son Tay town of Hanoi city; Jun 1, 2024 · Update Report Living Wage Update 2024: Minimum Wage Region 2, Vietnam Aug 13, 2024 · Minimum wage The monthly minimum wage in Malaysia’s 56 major cities is 1,500 ringgit (US$337). 640. It uses an estimate of family living expenses of VND 13,404,719 (US$550. 41 million; Region 3 to VND 3. Normally, the minimum wages will be adjusted each year to meet the need of society. The new minimum wage is expected to be set at above the rate of inflation, but is unlikely to be raised to 400 baht (US$11. 00 THB/Day in 2025 and a record low of 12. The monthly minimum wage in 56 major cities is 1,200 ringgit (US$291), whereas the minimum wage in non-urban areas and rural towns is 1,100 ringgit (US$266). Decree No. Vietnam increased the minimum wage by 6 percent starting in July 2024. 75 hours per day. Region II (Ha Long, Ninh Binh, Danang, Nha Trang, Hue, Da Lat, Can Tho, Rach Gia Apr 4, 2024 · Staying compliant with Vietnam's minimum wage regulations is crucial for employers in 2024. 000 VND/month; Region 2 is 4. Understanding Regional Variations. 31 USD per month. 07) per day in Delhi, in accordance with the Minimum Wages Act of 1948. 8 per cent. Apr 13, 2024 · On July 1, 2022, Vietnam revised the regional minimum wages by an average of 6% after nearly two and a half years of pandemic-related delays. Vietnam’s Wage Levels. If you’re a fresh graduate working a 9-5 job in a small-medium company, average would be $350-500. Aug 12, 2024 · The new minimum wage in Vietnam, effective July 1, 2024, will impact various social insurance items calculated based on the statutory pay rate. 3 million Vietnamese dong. 680. 2. 50 per day; and; Overtime and seniority bonus — US$2-US$11 per month for those between their second to the eleventh year of work. gr and Wageindicator. 92) per day in Bihar to INR 423 (US$5. This forms the basis for the wage-setting process for many workers. The minimum pay rate per hour for people working as Factory Worker in Vietnam is 14,200 VND. Minimum Wages in Thailand averaged 169. 3% of employees work overtime with an average time of 1. 1-17. 8-11. 40 USD a month. Meanwhile, the Philippines also said on July 1 that it will increase the minimum wage in the Metro Manila area to 7 pesos (645 USD) per day, a 11% increase from the current 6 pesos, and this will have effective from July 610. 2) per month per worker, depending on the four salary regions specified by the Vietnamese government. /. The increase varies from US$140 to US$202 depending on the living expenses in a particular region. 48 to 7. 88) per month. Sep 27, 2024 · Geographically, the minimum wage can range from INR 160 (US$1. 69 ringgit (US$12. family Jul 4, 2024 · Vietnam is poised to implement a 6% increase in minimum wages starting July 1, 2024, mandated by the Vietnamese Ministry of Labour, War Invalids and Social Affairs (MOLISA). With an average rate of inflation of 3. 8 (VND 250,000-400,000) higher per month than in 2015. The minimum wage for non-tipped workers in the United States remains $7. Region IV, on the other hand, had a lower minimum wage of 3. 000 VND/month and region 3 is 3. 1. 3 percent requested by the Vietnam General Confederation of Labor and the 4. Median Salary The median salary is 14,900,000 VND , which means that 50% of the population in Vietnam earns less than that while the other half earns more. The increase in minimum wage for 2024 was announced in November last year, following 20 consultative meetings between stakeholders. The minimum wage applies to the following subjects (Article 2, Decree 74/2024/ND-CP): Employees working under labor contracts as prescribed by the Labor Code. However, due to the impact of the Covid-19 epidemic, in 2020, 2021, the regional minimum wage does not increase in Vietnam. Enterprises defined by the Enterprise Law. 25. 2024 Minimum Wage Rates By State Aug 11, 2023 · According to Decree No. Jun 28, 2024 · The Global Living Wage Coalition makes its calculations based on a family of four with 1. 38/2022/NĐ-CP (Vietnamese) sets monthly minimum wages ranging from 3. This guide provides a comprehensive overview of the recent increase, regional variations, and key considerations for ensuring you meet your legal obligations. The minimum wage in Lebanon is LBP675,000 ($44. Regionally-based monthly minimum wages vary Apr 12, 2022 · HÀ NỘI — The National Wage Council announced on Tuesday that the regional minimum wage will rise by six per cent from July 1, 2022. Bhutan. Jan 1, 2024 · The minimum wage in 2024 is US$204 per month for regular employees. 23 ringgit (US$15. Andersen Marcelo Delajara Richard Anker Martha Anker Date: June 01 2024 In 2022, the monthly minimum wage in Vietnam reached 4. org, 2024 Minimum Wages - Greece - Archive Archive from 2019 on. 91) per month. 25 to VND 4. Read more Jan 2, 2024 · With the arrival of a new calendar year, workers in textile, garment, footwear, and travel goods factories are set to enjoy a new minimum monthly salary of $204. 25 million to VND4. Pakistan Jun 13, 2022 · Under the plan, the salary increase would be in the range of VND180,000-260,000 (US$7. 25 million dong (U. Businesses should prepare their budgets given the short notice and incorporate the increased HR costs from July 1 and beyond going forward. However, in Metro Manila, for non-agricultural activities, PHP 610 per day, while in the same region, for agriculture, plantation, and non-plantation, the salary is PHP 533 per day. , a wage which will ensure the minimum living needs of the employees and their families and which is based on the local social & economic conditions as well as the normal wage in the labour market. 96 million VND in Sep 4, 2024 · The basic salary in the Philippines is set as a minimum wage, depending on the geographic region and type of activity someone is performing. 7 million Vietnamese dong for Region I. S. In this draft, the Ministry proposes a six percent increase in the minimum wage, effective July 1, 2024. Nov 21, 2024 · What is the Minimum Wage in 2024 in the Philippines? The table below shows the daily minimum wage per region in the Philippines for the private sector. Thus, Filipino May 29, 2024 · Vietnam’s Ministry of Labor, War Invalids, and Social Affairs has drafted a decree to regulate minimum wages for employees working under employment contracts. 000 VND/month. Jun 13, 2023 · Minimum Wage. (As of October 2024) Regional minimum wage rates are the lowest rates an employer can pay his workers. This came into effect on the 1 January 2023. . Feb 5, 2024 · The National Wage Council has just proposed that the Government increase the regional minimum wage in businesses by 6% per month, an average of 238. So maybe it’s safe to say 20,000 dong to an average Vietnamese wage worker here feels roughly how $8, £8 or €8 euro would feel to an American (Brit or European). This change holds particular importance for CEOs and Nov 3, 2023 · Thailand’s Ministry of Labour has confirmed that it will raise the minimum wage for 2024, with a high likelihood that the hike will be announced in December 2023. The current wages in these regions range from VND 3. Aug 8, 2023 · According to Decree No. The new figure is $4 higher than the 2023 wage. Mar 6, 2024 · The report stresses the need for continuous progress towards living wage and recommends that member companies: Work with their suppliers to ensure costing and purchase orders cover the new minimum wage in all applicable purchase orders; ensure the updated minimum wages and salary structures are included in costing considerations before July 1 Jun 1, 2024 · The living wage estimate for Minimum wage region 3 in Vietnam is available from the Global Living Wage Coalition. 2 Minimum wage zones in Vietnam used for setting wages Vietnam is divided by government into 4 regions for minimum wage purposes. Vietnam's minimum wage will go up 6 percent starting July 1, two years after remaining unchanged. The minimum wage in Laos is LAK800,000 ($46. Specifically, the Kerala region stands out with the highest minimum daily rates for non-laborers, while other parts of the country maintain relatively uniform minimum wage Sep 22, 2023 · In August, the National Wage Council held its first meeting to discuss plans to increase the regional minimum wage in 8. Additionally, around 1. Download the full infographic: Minimum Wage vs. 28). 73"), regulating the basic salary ("lương cơ sở") for cadres, civil servants, public employees and the armed forces - which is also known as the general minimum wage (GMW), and Decree 74/2024/ND-CP ("Decree No. 38/2022/ND-CP on statutory minimum wages paid to employees working under employment contracts applied from July 01, 2022. In 2018, the increase was 6. This adjustment responds to economic improvements, inflationary pressures, administrative changes, and public sector salary reforms aimed at maintaining equitable wage standards amidst evolving socio-economic dynamics May 17, 2023 · (Article 3 of Decree 38/2022/ND-CP ) 2. The new minimum wage works out as follows for workers in city council or municipal council areas: 57. 22). the living standards would be for workers who would earn a living wage. 42 million dong. 86 million; and Region 4 to VND 3. Jun 14, 2022 · Vietnam will increase regional minimum wages by approximately 6 percent from July 1, 2022. Employers must also pay a LAK30,000 ($1. Bonuses and benefits: Workers who have worked from 2 to 11 years will receive seniority bonuses between US$2 and US$11. 00 THB/Day in 1973. May 26, 2023 · The minimum wage in Myanmar is MMK115,200 ($54. 3 percent. Since the Anker Methodology is designed to provide useful inputs into Dec 21, 2023 · When this minimum wage hike comes into effect, it will be the first minimum wage adjustment for Vietnam in two years. Meal allowance of USD $0. The Minister of Labor, Heng Sour, stated that workers will receive: An extra USD $10 per month for regular attendance; Additional USD $7 per month for transportation and rent. Fresh start would be somewhere $200-300. The hike, which is the lowest compared to previous years, will increase the minimum wage in the four regions by US$7-9 per month. 71) per month. 19-201. Basic Salary. Until 2010, By an international poverty line of approximately US$1. You can find a list of highest and lowest minimum wage rates here. Poj believes that the new minimum wage will cause Thailand to lose its industrial competitiveness. The increase in pay has been estimated at VND180,000-260,000 per The hourly minimum wage will also increase by 6% starting from the same date, with the highest increase level for Region I at 23,800 VND per hour. Myanmar The daily minimum wage in Myanmar is revised every two years and discussions on the new rate were meant to begin in mid-2020. 25 per day per person, the 2011 common MW rate Vietnam’s National Wage Council has increased the minimum wage by an average of 5. 000 VND/hour, The monthly minimum wage for Region 1 will rise to VND 4. 25 per hour, and one can buy a sandwich (even a banh mi) in the US for around $7. Click the Underlined Region to see more details: Purchasing power parity; Manpower absorption levels; and; Median wage variables (the margin between 50 percent of the highest wages and 50 percent from the lowest 50 percent of the lowest wages from employees in the same position). Employers in Vietnam are advised to pay attention to the cost impact of the statutory pay rate and the minimum regional wage. The minimum wage is 500,000 Sierra Leonean leones (SLL) per month or 26. Overall, in the 2015-22 period, the minimum wage in Việt Nam increased by a total of 19. It means that the new minimum wage will vary from VND3. source: Bank of Thailand Minimum Wages in Thailand is expected to reach 363. Below are monthly and hourly minimum wages in 4 regions as follows: Oct 18, 2023 · Myanmar has increased the daily minimum wage rate after a five-year hiatus to 5,800 kyat (US$2. 000 VND from July 1. 5 per day (or one free The International Labor Organization (ILO) assesses that since 2015, Việt Nam has always increased the minimum wage stably and consistently, from $119 month to the current $168 per month. Laos. 250. Jul 8, 2024 · Insurances: Contribution Basis: Maximum Monthly Cap: Up to 30 June 2024: From 1 July 2024: Social Insurance (SI) 20 x Minimum Basic Wage: 36,000,000 VND (20 x 1,800,000 VND) Jun 14, 2022 · On June 12, 2022, the Government of Vietnam promulgated Decree No. Gambia. Dec 20, 2023 · What is the minimum wage? Article 91 of the 2019 Labor Code stipulates that the minimum wage (minimum wage) is the lowest wage paid to employees doing the simplest work under normal working conditions to ensure the minimum living standard of employees and their families, in accordance with socio-economic development conditions. 3 percent in 2019. Meanwhile, rural areas generally see a minimum wage of VND 3,070,000 per month. Jul 3, 2024 · Starting July 1, 2024, Vietnam will implement significant updates to its minimum wage structure, impacting companies across various industries. 96) per day for employees working six days per week; 69. 59) per month. New minimum wage rates have been implemented in Vietnam since January 1, 2016, showing an increase of about 12. 72) meal allowance to each employee per day. Region 3 : Statutory minimum wage per month is 3,640,000, Statutory minimum wages per hour is 17,500. Subscribe to our free email alert service Viet Nam - Minimum wages Jun 18, 2023 · What is the regional minimum wage? According to Article 91 of the Labor Code 2019, the minimum wage is the lowest salary paid to employees who perform the simplest jobs in normal working conditions in order to ensure a minimum standard of living for employees and their families. At the first session in August discussing the minimum wage in 2024, the National Wage Council agreed to postpone the session. Decree 74/2024/ND-CP regulating the minimum wage for employees working under labor contracts in Vietnam, effective from July 1, 2024. Vietnamese Dong per Month Living Wage Report Aug 19, 2024 · In Vietnam, the minimum salary varies by region to match the cost of living. The minimum wage in 2024 is US$202 per month for probationary workers. 07 million dong to 4. The minimum monthly salary is now 4. Aug 12, 2024 · The new minimum wage in Vietnam, effective July 1, 2024, will impact various social insurance items calculated based on the statutory pay rate. Dec 21, 2023 · Region 2 : Statutory minimum wage per month is 4,160,000, Statutory minimum wages per hour is 20,000. The Minimum Wages Order 2022 introduced amendments that increased Malaysia’s national minimum wage, for those employed in the private sector, to RM1,500 per month. This has put the new minimum wage at US$ 11. nhfg iexgwne prqkb jrsia czckx rcpbfr cspnk fetoeb mqeit smqu