Aon Survey: Vietnam Leads Southeast Asia in Salary Growth Rate by 2025

Photo caption — Electronic components production at 4P Company Limited ( Hung Yen ), a project with large investment capital, advanced technology, and the ability to deeply participate in regional and global supply chains. Illustrative photo (document): VNA

Behind Vietnam is Indonesia with an expected average growth rate of 5.7% and 5.9% for 2025 and 2026, the Philippines at 5.3% and 5.2%. Meanwhile, Malaysia, Singapore and Thailand are forecast to have more modest growth rates, ranging from 4.3% to 4.8%.

Aon's "Southeast Asia 2025 Salary Increase and Employee Mobility Survey", conducted between July and September 2025, surveyed more than 700 businesses in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, providing a comprehensive picture of salary trends and the labor market in the region.

According to Aon, Vietnam continues to be the most dynamic market in Southeast Asia in terms of adjusted earnings, reflecting the double-digit growth momentum from recovering manufacturing, strong export growth and the rapid digital transformation wave.

By industry, the IT sector is forecast to lead salary growth in Vietnam with an average increase of 7.1%, followed by Indonesia at 5.9%. In Singapore, the life sciences and medical devices sector is forecast to see the highest increase at 4.6%, while in Malaysia, consulting and business services is the highest paying sector with a growth rate of 4.8%.

The technology, digital finance, electronics and logistics sectors are expected to continue to lead wage growth, as businesses compete fiercely to attract highly skilled workers.

“As investments in technology and strategic business projects increase across the region, businesses are increasingly focused on retaining experienced and highly skilled employees. Balancing rising staff costs with operational flexibility will be key to success,” said Rahul Chawla, Head of Talent Solutions, Southeast Asia, Aon.

Aon’s report also found that double-digit turnover rates remain prevalent across Southeast Asia, with the Philippines and Singapore forecast to have the highest turnover rates in 2025, at 20% and 19.3%, respectively. Malaysia, Thailand, Indonesia and Vietnam also recorded rates ranging from 15% to 18.2%.

Skills shortages continue to be a major challenge for businesses, especially in the context of increasing demand for technical and highly skilled workers.

“Businesses are facing challenges in recruiting and retaining staff, but most remain cautious and optimistic. They are focusing on improving productivity, streamlining management and recruiting targeted staff, combining strategic salary increases to attract key talent and build a sustainable, future-ready team,” said Evon Lock, Head of Aon’s Data Solutions Division in Southeast Asia.

Source: https://baotintuc.vn/kinh-te/khao-sat-aon-viet-nam-dan-dau-dong-nam-a-ve-toc-do-tang-luong-nam-2025-20251010101454961.htm