Our survey shows that the Tet bonus in the banking sector this year has a clear differentiation between banking groups and within each bank. This bonus depends on the business performance of departments, units, branches, and the labor productivity of individuals.
In a Big 4 bank with the largest network, the Tet bonus depends on the business results of each branch and the work performance of each individual. For branches that achieve KPI, the average productivity bonus is 4 months’ salary. For underperforming branches, the bonus is 1-2 months’ salary, and for branches that do not achieve KPI, there is no productivity bonus. In addition, in each branch, the bonus varies for each employee depending on the completion of KPI.
On the other hand, the Tet bonus at another Big 4 bank is evenly distributed across the entire system, equivalent to 3 months’ net salary. For departments that exceed KPI, the bonus increases by an average of 10% of monthly salary for each individual. For departments that do not achieve KPI, the bonus may be reduced by 10% of monthly salary. This figure depends on the salary pool of each department.
At another Big 4 bank, the Tet bonus is divided into smaller parts for payment. According to estimates, the Tet bonus ranges from 1.5-2 months’ salary. Based on the performance of employees and branches, the bonus varies.
In private banks, Mr. Nguyen Thanh, an employee of a large bank headquartered in Hai Ba Trung district, Hanoi, shared that his Tet bonus this year is higher than last year. “My bank divides the Tet bonus into 2 parts. The first part is the 13th month salary, which has been paid to employees. The second part is the productivity bonus. This bonus ranges from 1.5-3 months on average, based on employees’ rankings. The productivity bonus is expected to be paid before Tet”.
According to an employee at a bank in the “youngest group in the system”, with a head office in Ba Dinh district, Hanoi, this year, due to difficult economic conditions and poor disbursement performance, the Tet bonus also decreases significantly. Many employees in some branches do not receive a bonus or only receive 0.6 months’ salary. The average bonus currently ranges from 1.5-1.75 months’ salary. For outstanding employees, the highest bonus is 3.5 months’ salary. The difference in bonuses between employees with poor, average, and outstanding rankings is about half a month’s salary. “In 2023, my Tet bonus used to be 6 months’ salary, but this year I have been striving but it’s only half,” a bank officer shared and requested anonymity.
Meanwhile, at other banks, this year’s bonus is still maintained but lower than last year. It is common to have a 13th-month salary and an additional bonus of 0.5 – 1.5 months’ salary based on the annual ranking.