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13/06 - TVET Wages: Vietnam

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Nana Azhar

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TVET Wages for Vietnam: MEDIUM LOW

TABLE 1

Explanation and Meaning

  • Income Economy (MEDIUM LOW): Vietnam's economy is transitioning, with income levels lower than those of higher-income economies. This results in generally lower wages for workers, including TVET graduates.

  • Skills Demand (MEDIUM): The demand for skilled workers is moderate, indicating that TVET graduates with relevant skills are somewhat valued, but the demand is not as high as in more developed economies.

  • Government Policies (MEDIUM LOW): The government's support for TVET is limited but gradually improving. Increased investment and more robust policies could help raise the wages for TVET graduates.

  • Labor Market Dynamics (MEDIUM): The labor market is moderately dynamic, with some opportunities for career advancement and wage growth for skilled workers, including TVET graduates.

  • Cost of Living (LOW): The cost of living in Vietnam is relatively low, which means that while wages might be lower, they can still provide a decent standard of living due to lower expenses.

Conclusion

Based on the TWAGES evaluation, Vietnam has moderate to low TVET wages influenced by its medium-low income economy, moderate skills demand, and limited government policies. While the cost of living is low, which helps maintain a reasonable standard of living, there is significant potential for improvement in wage levels through economic development and better policy support.

Suggestions for Improvement

  1. Income Economy: Enhance economic growth through industrialization and economic diversification to raise overall income levels, which can lead to higher wages for TVET graduates.

  2. Skills Demand: Strengthen the alignment between TVET programs and industry needs to ensure that graduates possess high-demand skills, thereby increasing their employability and wage prospects.

  3. Government Policies: Implement stronger policies and increase investment in TVET programs to support skill development and improve wage outcomes for graduates.

  4. Labor Market Dynamics: Promote labor market flexibility and create more opportunities for career advancement to help skilled workers achieve better wage growth.

  5. Cost of Living: Continue to manage living costs to ensure that wages maintain their real value, enabling TVET graduates to sustain a good standard of living despite lower wage levels.

Summary

The table results indicate that Vietnam's medium-low income economy and moderate skills demand contribute to lower TVET wages. However, by focusing on economic growth, aligning TVET programs with industry needs, and improving government policies, TVET wages in Vietnam can be significantly enhanced, providing better opportunities and outcomes for graduates.

TABLE 2:

Explanation:

In Vietnam, the monthly salary range for a certified electrician with 5 years of experience is approximately $500 to $900 USD. For a certified chef with the same level of experience, the monthly salary range is around $450 to $850 USD. These wages are considered medium for Vietnam, indicating that while they are above the national average, they are not exceptionally high compared to other professions or regions within the country.

\*It's important to note that these salary ranges are approximate and can vary based on factors such as the specific job role, location within the country, and the employer. For the most accurate and up-to-date information, individuals should consult local job listings, recruitment agencies, or official sources.*

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