Real estate, financial services (mainly securities) and insurances are among the industries with the highest average income for CEOs. — VNA/VNS Photo Tuấn Anh

 

The real estate, financial services (mainly securities) and insurance are the industries with the highest average income for CEOs, according to a recent report by FiinGroup, FiinRatings and VNIDA.

 

The report analyses data from 200 out of 1647 listed public companies in Vietnam which altogether represent 85.6 per cent of the total market capitalisation on three stock exchanges, including HOSE, HNX and UPCoM as of the end of 2023.

 

These companies had a total revenue of nearly VNĐ3.3 quadrillion (US$133.36 billion), or 72 per cent of the total revenue of listed companies on the three stock exchanges, equivalent to 32 per cent of GDP.

 

The report found that the average income of CEOs was VNĐ2.5 billion per year each in 2023.

 

CEOs of real estate, financial services and insurance companies are among those with the highest incomes.

 

The top incomes were CEO of Kinh Bac Urban Development Corporation (KBC) with VNĐ17 billion, followed by the foreign CEO of Masan Group with VNĐ14.7 billion.

 

Other names in the top positions included Vinhomes, Nam Long and Vingroup.

 

While the IT, banking and retail industries are performing better than the average with high return on equity (ROE), around 15 per cent in 2023, the average incomes of CEOs is relatively low, because the report did not take into consideration the value of ESOP bonus shares that the board of directors received.

 

The report showed that the average income of CEOs at State-owned enterprises is significantly lower than that of private enterprises. The average income of chairmen of boards is VNĐ1.7 billion.

 

Banks and financial services (mainly securities companies) have the highest average income for board chairmen because of the specific management involvement of these leaders. — VNS