The Q4/2023 financial reports of banks have revealed the income, expenses for salaries, bonuses, and allowances over the past year. The employees of the Big4 banks (state-owned) saw an increase in income, amidst a wave of large profits across the banking sector.
In 2023, Vietcombank allocated more than 10,553 trillion VND for salary and allowances for its employees, a 10.3% increase compared to 2022. The estimated average income of Vietcombank employees in 2023 is about 459 million VND, equivalent to 38.2 million VND per person per month.
At BIDV, the average income per employee is around 40.2 million VND per person per month. The bank spent 14,477 trillion VND on salaries, allowances, subsidies, and other expenses for thousands of employees, a 12.7% increase compared to last year.
Other banks in the Big4 group also increased their spending on salaries and allowances. VietinBank spent over 11,636 trillion VND on salaries and allowances for its employees, a nearly 5% increase compared to the previous year. On average, employees across the VietinBank system receive 39.3 million VND per person per month.
Income of Big4 bank employees increased simultaneously, while private banks experienced mixed growth.
Private banks experienced mixed growth in average employee income. The average monthly income of employees at Maritime Bank (MSB) in 2023 was 28.8 million VND per person, significantly lower than the 34 million VND per person in 2022.
Some banks kept salaries low but increased the total average income through other expenses and allowances. At LPBank, the average monthly salary of employees is 22.24 million VND per person, a slight decrease compared to 2022. However, the total average income increased from 29.78 million VND per person per month to 31.75 million VND per person per month, equivalent to a yearly income of 381 million VND.
The average monthly salary of employees at VIB Bank reached 22.26 million VND per person, a decrease compared to the previous year’s 23.09 million VND per person. However, the total average income per month increased from 30.02 million VND per person to 32.03 million VND per person.
The employees with the highest income in 2023 were at Techcombank. In 2023, the bank recorded a decrease in the number of employees from 12,339 to 11,614. Meanwhile, the total income increased slightly from 5,554 trillion VND in 2022 to 5,596 trillion VND in 2023.
Therefore, on average, each bank employee earned 46 million VND per month (a 4.7% increase compared to 2022), with the salary alone being 38 million VND per month (a 5.6% increase). Techcombank employees had an average income of 540 million VND in 2023, 2.5 times higher than 10 years ago.
