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The Highs and Lows of This Year’s Tet Bonuses

As the season of holiday bonuses rolls around, Vietnam’s economic inequality is highlighted once again in the annual gifts doled out by Vietnamese employers.

Last month, Vietnam’s Ministry of Labor asked local enterprises to share their Tet bonus plans with government officials and local authorities, reports VnExpress. Based on a survey of over 1,100 companies, the average Tet bonus for Saigoneers this year is VND8 million, however firms across the country have gone well above – or below – that figure in rewarding their employees.

In Hanoi, a real estate company plans to gift each of its managers a VND1 billion (US$44,000) car, reports the news outlet, while a Hai Phong stationary company will pay its workers a Tet bonus of just VND100,000 apiece. Closer to the southern hub, firms in Can Tho plan to dole out anywhere from VND1.5 million to VND385 million (US$16,928) in individual Tet bonuses to each of its workers.

Over the past year, government officials have encouraged businesses to give Tet bonuses based upon annual performance, reports VnExpress.

According to VTV, Tet bonuses in the Year of the Rooster will be relatively similar to those in the Year of the Monkey. Last year, Tet bonuses ranged from VND40,000 to VND624 million (US$27,437) nationwide, increasing on average by 15.7% from the previous year.

In related news, Vietnam’s General Statistics Office reports the country’s per capita income reached US$2,200 in 2016, according to VietnamNet.

[Photo via thevietway]

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