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News » Vietnam IT managers earn sector-leading salaries: TopCV

Vietnam IT managers earn sector-leading salaries: TopCV

vietnam-it-managers-salaries
Photo from FPT

HANOI, VIETNAM — IT managers in Vietnam are leading the salary charts across all industries, earning a median monthly income of VND52 million (US$2,048), according to the 2024 annual labor market report by recruitment platform TopCV. 

This marks a nearly 30% increase from last year, reaffirming the IT sector’s status as a top-paying industry despite broader economic challenges.

Demand for IT professionals slows but remains strong

While salaries in the IT sector remain high, demand for professionals has slightly declined, with a 1% drop compared to 2023. However, experienced and highly skilled candidates are still in high demand. 

The report, based on surveys of 3,000 businesses and workers and analyses of 300,000 job postings, underscores the sector’s critical role amid a persistent talent shortage.

Entry-level IT salaries decline sharply

The report revealed contrasting trends in pay scales. Entry-level employees with less than one year of experience saw their median salaries drop from VND15 million (US$597) in 2023 to VND11 million (US$430) this year. 

In contrast, team leaders and professionals with four or more years of experience earned a median salary of VND35 million (US$1,360).

IT industry reclaims top spot in salary rankings

The IT and software industry has reclaimed its position as the highest-paying sector in Vietnam. In 2023, the insurance industry had led with a median managerial salary of VND50 million (US$1,956). 

This year, managerial salaries in other sectors ranged from VND26-39 million ((US$1,017 to (US$1,526)—significantly lower than the VND52 million median for IT managers.

IT recruitment faces talent shortage challenges

Despite high salaries, businesses in the IT sector face significant recruitment challenges. Around 55% of surveyed companies reported a shortage of highly skilled professionals. Nearly half expressed readiness to offer competitive benefits to attract top talent. 

“The IT industry shows ‘signs of slowing,’ but remains critical with a talent shortage offering significantly higher salaries than others,” the report noted.

Job-hopping among IT workers remains prevalent

Job-hopping continues to be common among IT professionals, with 34.1% citing lower pay compared to competitors as their primary reason for leaving. 

Other factors include limited career advancement opportunities (29.5%) and misalignment with company values (19.5%). 

However, fewer than 10% of job switchers reported salary increases of just 3-5%, signaling diminishing returns from frequent job changes.

New skills and multitasking now essential for IT jobs

IT professionals face growing demands for additional qualifications such as proficiency in a second language, multitasking abilities, and new technical skills. 

These emerging requirements add complexity to an already competitive job market and highlight the evolving nature of the industry.

Read more here.

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