HOMEPAGE
Hot Properties
ADB: Vietnam’s 2009 GDP growth to be highest in South East Asia
MGM Grand Ho Tram: Vietnam’s First ‘Las Vegas Style’ Integrated Resort
Nha Trang’s Twin Towers project licenced
Foreign investors still have good opportunities in Vietnam
Sierra Wireless gets a foot in Vietnam’s ICT market
INDOCHINA INTERNATIONAL CONSULTING CO., LTD
HO Add: 62L/36 Nguyên Hồng, Ward 11, Bình Thạnh District, HCMC - Vietnam
Biz Office Add: #48 Road No 11, Quarter 6, Hiệp Binh Chánh Ward, Thủ Đức, HCMC - Vietnam
®Source: http://viipip.com should be clearly quoted for any use of information extracted from our website.
Publication permit No: 60/GP-TTĐT , April 05, 2010.
Big bucks for brokers in Vietnam
Date: 9/30/2009 5:21:10 PM
The “warming” stock market means more jobs for securities brokers. Securities brokerage is now seen as way to earn one of the highest wages in Vietnam.
Big bucks for brokers in Vietnam.
A Vietnamese reporter met a securities broker who reportedly has a monthly income of 200 million dong (USD11,764) a month. Mr A, the former officer of a domestic investment fund, is now a senior executive of Kim Eng Securities Company (KEVS). However, Mr A denied the income of 200 million dong, saying that his real income is mere 170 million dong (USD1,000), and that he pays some 50 million dong (USD 2,940) a month in personal income tax (PIT).
However he says he can earn 170 million dong a month because his average brokerage turnover is about 700 billion dong (USD 41.17 million) and he reveals that his current ‘biggest client’ has the investment capital of 90 billion dong.
Mr A has very busy working days, even though he does not have to come in the office. He gets up early to check last night’s information from the western hemisphere which may affect the stock market. After that, he keeps watching over what happens on the stock market and looks to find out the answers immediately to any abnormal changes.
In the afternoon, he discusses work with partners, bosses and others by telephone – often competing with noise in traffic or in cafes. He works even when he is not at the office. Mr A said that in order to give good advice to clients, a broker should manage eight accounts at maximum.
“The job of a broker is helping clients successfully purchase the shares which will see prices increase in the future,” he said. “Sometimes, clients have sources of their own, and we have to help them check information in order to help them make right decision”.
“In Vietnam, brokers always give advice on purchases, while they rarely give advices on sales,” he said, adding that the biggest ever volume of shares he once advised a client to purchase was 1.5 million shares.
Currently, the income of securities brokers come from three sources, the fixed salary they can get from the bosses, commission for brokerage and bonuses from companies. Others also get money from their own business affairs.
A broker can get a fixed salary of 5-7 million dong (USD 410) a month if he works for a big securities company and 4-5 million dong if he works for a smaller company. The broker needs to hit his set targets with more bonuses available if he exceeds them.
At KEVS, there are many brokers who have the official income of 30-40 million dong (USD 1,764 - USD2,352) a month, while the brokers with medium number of clients can also get 20 million dong a month.
The monthly income of securities brokers of other companies is yet to be revealed. However, sources say that a broker in VNDirect gets over 100 million (USD 5,882) dong, and at HSC 60 million dong (USD3,529).
(Source:VietNamNet + DTCK)
Other news- Vietnam will become a destination for Chinese investors in the future (11/6/2023 1:03:19 PM)
- Thua Thien - Hue: Calling for investment (11/6/2023 1:00:42 PM)
- Hai Phong Planning to establish a series of industrial parks and economic zones (11/6/2023 12:58:13 PM)
- The Fastest Growing Economies In 2024 (11/6/2023 12:56:34 PM)
- Hai Phong reached the target of attracting FDI capital (10/17/2023 5:18:21 PM)
- Long An has 1,215 FDI projects with capital of 10,519 million USD (10/17/2023 8:40:41 AM)
- What do FDI enterprises recommend to the Vietnamese Government? (10/17/2023 8:38:33 AM)
- Vietnams 3 commitments to foreign businesses and investors (10/17/2023 8:35:45 AM)
- Up to now (2023), how much money have Asian tigers invested in Vietnam? (10/17/2023 8:31:59 AM)
- Another semiconductor manufacturer expands in Vietnam (10/17/2023 8:30:44 AM)
- Billions of dollars poured into Vietnamese semiconductor projects (10/17/2023 8:26:09 AM)
- Revealing the reason why Central region continuously invested by giants Foxconn, Goertek... (10/17/2023 8:24:49 AM)
- VIFTA: Vietnam-Israel Boulevard opened (8/28/2023 9:29:44 AM)
- Wistron announced to pour another 24.5 million USD into Vietnam to build a new factory. (8/28/2023 9:28:33 AM)
- Formulate policies to develop the logistics industry (8/28/2023 8:50:54 AM)
NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
