Average Monthly Salaries in Saigon (Ho Chi Minh City) – 2024/2025 Report

Overview of Salaries in Ho Chi Minh City (Saigon)

Ho Chi Minh City (Saigon) is Vietnam’s economic hub, boasting some of the highest wages in the country. Official data for early 2025 showed HCMC’s average monthly income around ₫9.7 million (Vietnamese đồng) – roughly $400 USD . This is above Vietnam’s national average (about ₫8.3–8.4 million) and reflects the city’s more skilled, urban workforce . However, surveys of formal urban employment report even higher figures – one salary study estimated an average annual salary in HCMC of ₫281.6 million , which is about ₫23.5 million per month (~$950 USD). The true “average” thus depends on data sources and whether lower-paying rural and informal jobs are counted. In general, Saigon salaries vary widely by industry, experience, and employee background, as detailed below.

Ho Chi Minh City’s robust economy and foreign investment have fueled rapid wage growth. Salaries have been rising around 9–10% per year recently . For example, the average in Q1 2025 was ~9.5% higher than the year prior . Many employers plan significant raises (surveys show 82% of companies intended salary increases for 2025) . This wage inflation is driven by high demand in booming sectors (tech, finance, manufacturing) and the city’s higher cost of living. HCMC’s cost of living, while low by global standards, is the highest in Vietnam; employers must pay a premium (urban wages are ~39% higher than rural) to attract talent . Below, we break down Saigon’s salary levels by job sector, experience level, and worker demographic (locals vs. expats vs. freelancers).

Salaries by Job Sector in Saigon

Salary levels in Saigon vary significantly across industries. Generally, technology and finance sectors offer the highest pay, education and hospitality sectors are lower, and others fall in between. Table 1 summarizes typical monthly salary ranges by sector in Ho Chi Minh City, with values in both Vietnamese đồng (₫) and approximate US dollars:

Table 1: Typical Monthly Salary Ranges by Sector (HCMC, 2024/25)

Job Sector	Typical Range (₫/month)	USD Equivalent
Technology (IT)	₫15–40 million	~$600–$1,600 USD
Finance & Banking	₫15–35 million	~$600–$1,400 USD
Engineering	₫18–30 million	~$720–$1,200 USD
Manufacturing	₫14–26 million	~$560–$1,040 USD
Marketing & Sales	₫10–20 million	~$400–$800 USD
Education & Teaching	₫12–20 million	~$480–$800 USD
Healthcare & Medical	₫15–25 million	~$600–$1,000 USD
Tourism & Hospitality	₫8–15 million	~$320–$600 USD
Retail & Services	₫8–15 million	~$320–$600 USD

Sources: Industry ranges adapted from 2024–2025 Vietnam salary surveys . (HCMC is at the upper end of national ranges due to higher living costs .)

As shown above, software/IT and finance roles top the scale, often averaging ₫20–40+ million per month in HCMC . For example, a mid-level software developer might earn around ₫25–30 million, and senior specialists even more. In fact, with Vietnam’s tech sector booming, entry-level tech salaries in HCMC typically start around ₫15–20 million, and highly skilled senior IT engineers can command ₫50–₫100 million per month (upwards of $2,000–$4,000) in top firms. Banking and finance professionals similarly see ranges from roughly ₫10–₫20 million for junior accountants up to ₫40+ million for managers, with top financial directors approaching ₫80 million in large institutions .

By contrast, education and hospitality sectors have lower pay for local staff. A local teacher in a public Saigon school might earn only ₫5–₫15 million monthly (depending on qualifications and base pay scales) . However, private and international schools pay more – teaching positions at international schools can reach around ₫30 million/month (over $1,200) for experienced teachers . (Expatriate English teachers often earn in this higher range – see demographic section below.) In the hospitality industry, frontline workers (e.g. hotel front-desk, waitstaff) commonly earn under ₫10 million monthly, while local managers average ₫25–₫30 million . Thanks to post-pandemic tourism recovery, hotel/general managers are doing better – a hotel manager in HCMC might average around ₫28.6 million ($1,150), and top executives in 5-star hotels can make up to ₫80 million/month (>$3,200) .

Manufacturing, engineering, construction, and logistics jobs in HCMC fall in the middle of the pack. A factory or logistics entry worker may start around ₫8–₫10 million, while engineers or project managers earn in the tens of millions. For instance, construction project managers average ~₫24–₫30 million, with upper-end salaries up to ₫47 million for large projects . Healthcare roles also span a wide range: nurses and junior doctors might get ₫10–₫20 million, whereas experienced specialists or senior pharmacists in HCMC can reach ₫50–₫80 million at major hospitals .

In summary, Ho Chi Minh City’s service and knowledge sectors lead in pay (e.g. IT sector monthly avg ~₫25–₫40m, finance ~₫20–₫35m) , reflecting high demand for skilled labor. Traditional sectors (manufacturing, construction) pay moderate wages, and consumer-facing sectors (retail, hospitality, education) tend to lag, though senior roles in any field (like directors or specialists) can earn several times the entry-level salary. The next section examines how experience level drives these differences.

Salaries by Experience Level

Experience level is one of the strongest determinants of salary in Saigon. As in most markets, senior employees earn dramatically more than fresh graduates. A rough breakdown for 2025 in HCMC is:

• Entry-Level (0–2 years): about ₫7–₫10 million per month on average (around $300–$420). This is the typical starting salary range for a new graduate or junior worker in a white-collar role. For example, a fresh university grad in an office job might earn ~₫8 million. In competitive fields like IT, entry pay tends to be on the higher end (₫10+ million) , whereas in admin or service jobs it may be closer to the lower end. Notably, HCMC’s entry-level salaries are a step above Vietnam’s minimum wage (₫4.68 million for urban region I in 2024 ).
• Mid-Career (3–7 years experience): roughly ₫15–₫25 million per month in HCMC (~$600–$1,000). By this stage, professionals often earn double their entry salary. Many mid-level roles (e.g. engineers, accountants, teachers with ~5 years tenure) fall in the tens of millions of đồng. For instance, a mid-level software developer or finance officer might earn around ₫20 million. This middle tier constitutes the emerging Vietnamese middle class; indeed the median national salary is about ₫14.9 million , and in major cities the median is higher (commonly ₫15–₫20+ million) .
• Senior (8+ years or managerial positions): often ₫30 million or more per month ($1,250+). Seasoned managers and specialists in Saigon command premium pay. It’s common for senior professionals to earn 3–4 times what entry-level staff make . For example, a department manager, senior engineer, or experienced financial analyst in HCMC might earn in the ₫30–₫60 million range. In high-demand sectors, senior salaries climb even higher – e.g. a senior IT project manager, finance director, or medical specialist can earn ₫80+ million/month in top companies . Executive roles (C-level managers at multinationals, etc.) can reach into the hundreds of millions of đồng monthly. Surveys show that senior executives in Vietnam earn ~3-4 times more than entry-level workers on average .

These experience-related gaps reflect the scarcity of seasoned talent in Vietnam’s fast-growing market . Companies are willing to pay a premium for proven skills and leadership. Notably, the steepest experience-driven pay increases occur in booming sectors like technology and finance . For instance, a programmer’s salary might rise far faster over 5–10 years than a factory worker’s. Traditional sectors have more compressed pay scales, while new economy sectors show exponential growth with experience .

To quantify, one analysis of Vietnam showed entry-level grads around $3,000–$5,000 USD annual salary vs. senior-level (8+ yrs) at $12,500–$20,000 USD annually – roughly a fourfold jump from junior to senior. Table 2 illustrates the broad salary progression:

Table 2: Typical Annual Salary by Experience Level (Vietnam, 2025)

Experience Level	Annual Salary (VND)	USD Equivalent
Entry-level (0–2 yrs)	~₫84–₫120 million	~$3,500–$5,000 USD
Mid-career (3–7 yrs)	~₫144–₫240 million	~$6,000–$10,000 USD
Senior (8+ yrs)	~₫300–₫480+ million	~$12,500–$20,000+ USD

(Upper-end figures apply to high-demand fields like IT/finance; traditional sectors may be lower .)

In Ho Chi Minh City, these figures skew higher than the national average. Fresh graduates often start near ₫8–₫10m in HCMC (vs. ₫6–₫7m in smaller cities), and senior managers in HCMC often hit the higher end of the national ranges. The fast wage growth also means today’s entry-level cohort may see significant raises within a couple of years (many Vietnamese firms give ~5–10% raises annually, or even 15%+ in tech/finance) . In summary, experience and skills development pay off hugely in Saigon’s job market, with senior experts earning a comfortable income by local standards.

Salaries by Demographic: Locals vs. Expats vs. Freelancers

Ho Chi Minh City’s workforce includes local Vietnamese, expatriates, and an increasing number of freelancers or remote workers. Salary levels can differ markedly between these groups:

• Local Vietnamese Employees: Local workers in HCMC typically earn salaries in line with the ranges discussed above, which are modest by global standards. The average local salary in Saigon is only a few hundred USD per month. Government statistics indicate about ₫9–₫10 million/month on average for HCMC locals (~$380–$420). Nationally, Vietnamese workers average around $320–$600 per month depending on the survey . To put this in perspective, one international report noted the average annual salary for Vietnamese nationals is about $2,100 USD (just ₫50 million), though this figure is likely a nationwide per-capita measure . In reality, urban skilled workers in HCMC earn more (often $5,000–$10,000 per year as seen earlier). Still, local salaries are far lower than expat packages for similar roles, due to differences in cost of living expectations and corporate pay scales.
• Expatriate Professionals: Foreign expats working in HCMC often enjoy significantly higher compensation, especially in managerial or specialist roles. Many expats are hired by multinational companies, international schools, or NGOs at pay rates closer to international standards. Surveys have found the average expat salary in Vietnam is around $78,000 USD per year (≈ ₫1.8–₫2.0 billion VND/year). This equates to roughly ₫150–₫170 million per month (~$6,500–$7,000), an order of magnitude above local wages. Another report put expats’ average even higher, at $90,000/year vs. only $2,100 for locals , underscoring the huge gap. Of course, not all expats earn six-figure salaries – there are many foreign English teachers and junior expats earning more moderate sums (e.g. $1,000–$2,000 per month in language centers). But overall, expats tend to occupy higher-paying positions (e.g. regional managers, tech leads, finance directors) or receive generous allowances, leading to far higher averages than locals. For example, an expat teaching English full-time in Saigon can make ₫27–₫51 million/month (about $1,100–$2,200) , which is several times a local teacher’s pay. Corporate expats in finance or tech can earn several thousand USD monthly (often with housing, schooling, and other benefits on top). In short, Saigon’s expats generally enjoy premium pay that, coupled with Vietnam’s relatively low living costs, affords them a high standard of living .
• Freelancers & Self-Employed: A notable portion of workers in HCMC are freelancers, contractors, or self-employed entrepreneurs. This group’s income can vary widely, but interestingly data suggests freelancers often outearn salaried staff on average. According to one salary survey, self-employed individuals in Vietnam earn about ₫436.6 million per year on average, slightly above the average for full-time employees (₫416.3m) . That works out to roughly ₫36 million/month (~$1,500) for self-employed workers. This category could include tech contractors, gig economy workers, small business owners, and online freelancers – many of whom target international clients or higher-margin work. In HCMC’s vibrant startup and freelance scene, it’s not uncommon for a skilled freelancer (e.g. a software developer or digital marketer serving overseas clients) to make $1,000–$2,000+ per month, above what a local company might pay. On the other hand, many informal gig workers earn less; there are also thousands of small street vendors and ride-share drivers whose earnings are below formal wages. Overall, freelance incomes are polarized – but those with in-demand skills (or thriving businesses) can do quite well, lifting the average. The government has encouraged entrepreneurship by lowering certain taxes, which may contribute to the relatively high reported average for self-employed earnings .

To summarize these demographic differences, Table 3 provides a comparison of typical salary levels for a local employee, an expatriate, and a self-employed professional in Ho Chi Minh City:

Table 3: Salary Comparison by Worker Demographic (Ho Chi Minh City)

Demographic Group	Avg. Monthly Salary	USD Equivalent
Local Employee (HCMC average)	~₫9–10 million	~$380–$420 USD
Expat Professional (avg)	~₫150+ million	~$6,000–$7,000 USD
Freelancer/Self-Employed	~₫36 million	~$1,500 USD

(Expats’ salaries vary widely by role; figures here reflect overall averages, with many expats earning in the ~$1–$3K range and corporate expats much more.)

The stark gaps between locals and expats are evident. Expats in Vietnam often fill senior roles or bring specialized expertise, and companies pay a premium for this (sometimes including hardship allowances). Meanwhile, local salaries are constrained by the local market and cost of living – which, in turn, is low enough that even a few hundred USD can provide a comfortable local lifestyle . It’s worth noting that HCMC’s authorities have also taken steps to boost certain local salaries. For instance, the city has a unique income top-up policy for public sector workers like teachers: under a special resolution, HCMC teachers receive extra stipends up to 1.5 times their base salary, which can add $300–$600 USD to their monthly pay . This policy led to some experienced city teachers earning over $1,300 USD/month in 2023 (far above normal teacher pay) . Such local measures help narrow the gap in specific fields, though generally expat vs. local wage disparities remain large in the private sector.

Trends and Factors Impacting Saigon Salaries

Several trends and special circumstances are influencing salaries in Ho Chi Minh City in 2024–2025:

• Economic Growth and FDI: Vietnam’s rapid GDP growth and heavy foreign investment have increased demand for skilled labor. HCMC, as a southern business center, attracts both top local talent and expats, driving salaries up. Wages in HCMC grew about 9–10% over the last year , and high-growth industries saw even larger jumps (e.g. finance wages rose ~10.6% YoY, and some industrial sectors grew 12–17% ). This growth trend is expected to continue as Vietnam moves toward middle-income status.
• Industry Booms: The tech sector is expanding fast, with companies battling for IT talent. This has pushed IT salaries upward (entry-level tech workers now get >₫10m, which was rare a few years ago). Finance, banking, and insurance are also on the rise, with double-digit pay increases in many firms . Service-sector salaries (avg ₫9.9m) now surpass manufacturing (₫9.1m) nationally , reflecting the shift toward a knowledge economy. In HCMC, which is dominated by services and high-tech manufacturing, this translates to higher overall pay scales.
• Inflation and Cost of Living: Vietnam experienced a bout of inflation in 2022–2023 (as global prices rose), and although inflation has been moderate, the cost of living in HCMC has climbed, putting pressure on wages. Companies have had to offer higher pay to attract workers to expensive urban districts. By mid-2024, the government raised regional minimum wages by ~6% to keep up with living costs . For many lower-income workers, this directly increased their pay. Furthermore, as consumer prices jumped ~25% in major cities in 2022 due to global factors , there’s been greater employee expectation of annual raises to maintain purchasing power.
• Labor Market and Talent Shortages: Certain skilled positions are in shortage, contributing to salary spikes. For example, Vietnam has a limited pool of senior project managers, data scientists, and bilingual professionals – so those who have these credentials can negotiate higher pay. Surveys confirm that senior leadership talent is scarce and commands high premiums . Additionally, Vietnam’s young workforce means many employees are relatively inexperienced, so those with 10+ years in their field are highly valued. This dynamic has widened the gap between junior and senior salaries in HCMC.
• Expat and Local Salary Gap: As detailed, expatriates often earn several times more than locals. This can affect the job market: multinational companies sometimes use expats for top jobs (with global-level salaries), while local firms may not match those rates. However, over time local salaries are rising faster in percentage terms, gradually closing the gap. The government has also put in policies to localize the workforce and only allow foreign hires when necessary, which could keep the number of very high-paid expats limited . Still, HCMC remains attractive to expats because a foreign salary goes a long way – an expat earning even $2,000/month (~₫47m) can live quite comfortably in Saigon .
• Freelance/Remote Work Growth: Ho Chi Minh City has a growing community of freelancers and “digital nomads.” These individuals often bring in income from overseas clients or remote jobs, injecting higher earnings into the local economy. While not captured in official stats, this trend means more young professionals in Saigon earning in USD or EUR (e.g. freelance software developers, designers, content creators). They might report higher “self-employed” incomes (as noted earlier, self-employed averages are above salaried averages ). Co-working spaces and startup hubs in HCMC are facilitating this, and it could further elevate the average income of the “freelance” demographic beyond what local companies pay.

In conclusion, Saigon’s salary landscape in 2024–2025 is characterized by strong growth and significant disparities. The city offers relatively high pay within Vietnam (averaging around ₫10–₫23 million/month depending on how it’s measured), yet from a global view wages are low except for expats. The highest salaries are concentrated in technology, finance, and other professional services, especially for experienced personnel. Meanwhile, sectors like education and hospitality, largely staffed by locals, remain low-paying (often under ₫10 million for entry jobs), although they too are creeping up post-pandemic. Economic policies – such as minimum wage hikes and HCMC’s own teacher income supplements – have provided boosts at the lower end . Companies in HCMC will need to navigate these trends by offering competitive packages (many are budgeting 6–7% salary increases annually for staff ). For employees, the advice is clear: developing in-demand skills and experience is key to tapping into Saigon’s rising prosperity. With Vietnam’s continued growth and integration into global markets, we can expect salary levels in HCMC to keep rising, and the gap between local and expat pay may gradually narrow as the local talent pool becomes more skilled and internationally savvy.

Sources:

1. Talentnet Vietnam – Average Salary in Vietnam 2025 (June 2025), featuring official stats and salary trends .
2. Empleyo (Olivia Yu) – Average Salary in Vietnam 2025 (Mar 2025), industry breakdown and experience level data .
3. Vietnam Ministry of Labor via Tuoi Tre News – average income 1H 2024 (~₫8.4m) .
4. Vietnamteachingjobs.com – Average ESL Teacher Salary in Vietnam 2025, expat teacher pay ranges .
5. VietNamNet Global – HCMC leads teacher pay… (June 2025), on special allowances boosting teachers’ salaries .
6. MyVietnamVisa – Vietnam Salary Guide 2025, TopCV data on sector salaries by experience (IT, Finance up to ₫80–₫100m, etc.) .
7. William Russell – Cost of Living in Vietnam for Expats (July 2025), cites average expat salary ~$78k/year .
8. Raconteur – Living and Working in Vietnam (Dec 2022), expat vs local pay comparison ($90k vs $2.1k) .
9. ERA / GSO Vietnam – Average Salary in Vietnam 2024 Report, includes self-employed vs full-time income stats .
10. TimeDoctor – Average Salary in Vietnam (2024), salary explorer data and city comparisons .