Factors affecting personal income of workers in Vietnam: A quantile regression approach

Abstract

The purpose of this study is to analyze factors affecting the income of Vietnamese workers. The results of the ordinary least squares regression model and the quantile regression model show that personal income is affected by many factors, including age, place of residence, gender, education level, jobs, and employment contract status. While the age factor hurts income, the education level positively impacts income. In addition, income also tends to increase for workers who live in urban areas, are male, are self-employed, and have work contracts. However, the level of impact of factors is different between groups of people with different income levels. The results of this research will contribute to the system of research on personal finance and provide some implications for improving workers’ income in Vietnam.