Vietnam wins on salary versus cost of living

Vietnam may not be the obvious choice for expat professionals, but it’s certainly one of the most rewarding as regards salary versus cost of living.

Salary versus disposable income is always at the top of the checklist when a new posting or possible destination for entrepreneurship is being considered. Annual surveys of typical expat destinations have their uses, and often turn up a gem of a location for expats needing a challenge as well as a decent wage. This year’s surprise result in the Expat Explorer survey just has to be Vietnam, now ranking 16th in the world for average salaries.

Apparently, expat professionals working in the Southeast Asian country earn a whacking average of $90,408 – 40 times more than the per capita income of the average Vietnamese. In addition, the country’s expatriate cost of living ranges between £700 and $1,400 per calendar month. Some 82,000 foreigners are now living and working in the country, with other surveys reporting new expat arrivals won’t have any problems settling in.

Yet another survey, this time based in the US, recently revealed Vietnam has one of the highest wage rates in the word for ESL (English as a Second Language) teachers, due to the fact that the Vietnamese accept that it’s necessary for business success both inside and outside the country. Foreign English teachers are rewarded by salaries of between $1,000 and $2,000 a month, and there’s yet another bonus in that the Vietnamese are amongst the friendliest folks on the planet. In Vietnam, the smiles really are genuine.

Another important consideration for expat professionals is the work-life balance in their chosen country. Vietnam’s version received praise in the HSBC survey, with respondents saying it’s better than in their home countries, and 77 per cent of respondents are more than pleased with their benefit packages. The only problem seems to be job security, with some saying there was little chance of progressing with their careers or acquiring new, relevant skills.