Business Analyst Average Salary in Vietnam 2023

How much money does a Business Analyst make in Vietnam?

Average Monthly Salary

20,800,000

VND

( 250,000,000

VND

yearly)

LOW

11,300,000
VND

AVERAGE

20,800,000
VND

HIGH

31,500,000
VND

A person working as a Business Analyst in Vietnam typically earns around 20,800,000 VND per month. Salaries range from 11,300,000 VND (lowest) to 31,500,000 VND (highest).

This is the average monthly salary including housing, transport, and other benefits. Business Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Business Analyst Salary Distribution in Vietnam

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The median, the maximum, the minimum, and the range

• Salary Range

  Business Analyst salaries in Vietnam range from 11,300,000 VND per month (minimum salary) to 31,500,000 VND per month (maximum salary).

• Median Salary

  The median salary is 19,200,000 VND per month, which means that half (50%) of people working as Business Analyst(s) are earning less than 19,200,000 VND while the other half are earning more than 19,200,000 VND. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

• Percentiles

  Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Business Analyst(s) are earning less than 13,700,000 VND while 75% of them are earning more than 13,700,000 VND. Also from the diagram, 75% of Business Analyst(s) are earning less than 23,300,000 VND while 25% are earning more than 23,300,000 VND.

What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Business Analyst Salary Comparison by Years of Experience

How does experience and age affect your pay?

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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Business Analyst salaries by experience level and this is what we found.

A Business Analyst with less than two years of experience makes approximately 13,100,000 VND per month.

While someone with an experience level between two and five years is expected to earn 16,500,000 VND per month, 26% more than someone with less than two year’s experience.

Moving forward, an experience level between five and ten years lands a salary of 21,800,000 VND per month, 32% more than someone with two to five years of experience.

“

On average, a person’s salary doubles their starting salary by the time they cross the 10 years* experience mark.

”

* Based on the average change in salary over time. Salary variations differ from person to person.

On average, a person’s salary doubles their starting salary by the time they cross the 10 years* experience mark.

Additionally, Business Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 25,600,000 VND per month, 18% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 28,300,000 VND per month, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 30,100,000 VND per month, 6% more than people with fifteen to twenty years of experience.

Business Analyst average salary change by experience in Vietnam

0 – 2 Years

13,100,000 VND

2 – 5 Years+26%

16,500,000 VND

5 – 10 Years+32%

21,800,000 VND

10 – 15 Years+18%

25,600,000 VND

15 – 20 Years+11%

28,300,000 VND

20+ Years+6%

30,100,000 VND

Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

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Business Analyst Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Business Analyst(s) who have the same experience but different education levels.

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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Business Analyst salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Business Analyst is 15,900,000 VND per month.

While someone with a Certificate or Diploma gets a salary of 17,900,000 VND per month, 13% more than someone having a High School degree.

A Bachelor’s Degree gets its holder an average salary of 23,600,000 VND per month, 32% more than someone with a Certificate or Diploma.

Professionals who hold a Master’s Degree are rewarded with an average salary of 29,200,000 VND per month, 24% more than someone with Bachelor’s Degree.

Business Analyst average salary difference by education level in Vietnam

High School

15,900,000 VND

Certificate or Diploma+13%

17,900,000 VND

Bachelor’s Degree+32%

23,600,000 VND

Master’s Degree+24%

29,200,000 VND

Percentage increase and decrease are relative to the previous value

Is a Master’s degree or an MBA worth it? Should you pursue higher education?

A Master’s degree program or any post-graduate program in Vietnam costs anywhere from 86,100,000 Dong(s) to 258,000,000 Dong(s) and lasts approximately two years. That is quite an investment.

You can’t really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Typical Salary Difference by Education for Most Careers

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Business Analyst Average Annual Salary Increment Percentage in Vietnam

How much are annual salary increments in Vietnam for Business Analyst(s)? How often do employees get salary raises?

Business Analyst

Business Analyst(s) in Vietnam are likely to observe a salary increase of approximately 14% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Vietnam / All Professions

The term ‘Annual Salary Increase’ usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

“

The average salary increase in one year (12 months) in Vietnam is 6%.

”

Annual Increment Rate By Industry 2022

Banking

2%

Energy

4%

Information Technology

6%

Healthcare

8%

Travel

1%

Construction

3%

Education

5%

Listed above are the average annual increase rates for each industry in Vietnam for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Worldwide Salary Raises: All Countries and All Jobs

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Business Analyst Bonus and Incentive Rates in Vietnam

How much and how often are bonuses being awarded?

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A Business Analyst is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

24% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 76% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus

76%

No Bonus

24%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.

What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.

Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

“

Try to work for companies where your skills can generate revenue. We can’t all generate revenue and that’s perfectly fine.

”

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Business Analyst Average Hourly Wage in Vietnam

120,000 VND

per hour

VND

The average hourly wage (pay per hour) in Vietnam is 120,000 VND. This means that the average Business Analyst in Vietnam earns approximately 120,000 VND for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Business Analyst VS Other Jobs

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The average salary for Business Analyst is 14% more than that of Business Planning. Also, Business Planning salaries are 6% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage SalaryAssistant Business Development Manager22,500,000 VND

+8%

Assistant Merchandise Planner13,400,000 VND

-36%

Business Advisor22,500,000 VND

+8%

Business Analyst20,800,000 VND

-0%

Business Consultant21,000,000 VND

+1%

Business Continuity Associate12,900,000 VND

-38%

Business Development Associate11,700,000 VND

-44%

Business Development Coordinator11,400,000 VND

-45%

Business Development Manager27,700,000 VND

+33%

Business Development Specialist19,500,000 VND

-6%

Business Operations Specialist19,800,000 VND

-5%

Business Process Writer12,200,000 VND

-41%

Capacity Planner14,700,000 VND

-29%

Capacity Planning Supervisor20,300,000 VND

-3%

Change Communications Analyst20,400,000 VND

-2%

Change Control Analyst19,500,000 VND

-6%

Contracts Executive21,600,000 VND

+4%

Corporate Strategy Analyst20,800,000 VND

-0%

Cost Control Engineer13,300,000 VND

-36%

Cost Estimator13,600,000 VND

-35%

Data Executive11,600,000 VND

-44%

Development Researcher16,700,000 VND

-20%

Due Diligence Analyst21,900,000 VND

+5%

Estimating Manager24,200,000 VND

+16%

General Manager25,800,000 VND

+24%

Incident Handler14,800,000 VND

-29%

Incident Specialist18,900,000 VND

-9%

Lean Consultant16,400,000 VND

-21%

Manager28,900,000 VND

+39%

Materials Planner9,190,000 VND

-56%

Merchandise Controller9,330,000 VND

-55%

Merchandise Planner9,520,000 VND

-54%

Operations Analyst19,700,000 VND

-5%

Operations Research Analyst13,200,000 VND

-37%

Planning and Reporting Manager22,200,000 VND

+7%

Planning Director26,700,000 VND

+28%

Project Administrator13,700,000 VND

-34%

Project Manager21,900,000 VND

+5%

Project Planner13,900,000 VND

-33%

Research Assistant11,200,000 VND

-46%

Research Engineer13,100,000 VND

-37%

Research Officer10,400,000 VND

-50%

Risk Management Specialist19,700,000 VND

-5%

Scholarship Coordinator10,400,000 VND

-50%

Store Planner10,200,000 VND

-51%

Strategy Director29,200,000 VND

+40%

Top Research and Development Executive32,500,000 VND

+56%

Salary Comparison By City

CityAverage SalaryDa Nang21,600,000 VNDHa Noi21,700,000 VNDHai Phong19,400,000 VNDThanh Pho Ho Chi Minh24,400,000 VND

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Vietnam earn 8% more than their private sector counterparts on average across all sectors.

Private Sector

16,400,000 VND

Public Sector+8%

17,800,000 VND

Percentage increase and decrease are relative to the previous value