The size of pagefile inside the guest OS is an question more related to OS than VMware, anyway the size of swap file will depend of the size of assign RAM memory and if the workload is requiring all memory assigned.
Take a look at this note from Microsoft KB: RAM, virtual memory, pagefile, and memory management in Windows</title> <!-- integration code for PDF -->…
Users frequently ask "how big should I make the pagefile?" There is no single answer to this question because it depends on the amount of installed RAM and on how much virtual memory that workload requires. If there is no other information available, the typical recommendation of 1.5 times the installed RAM is a good starting point. On server systems, you typically want to have sufficient RAM so that there is never a shortage and so that the pagefile is basically not used. On these systems, it may serve no useful purpose to maintain a really large pagefile. On the other hand, if disk space is plentiful, maintaining a large pagefile (for example, 1.5 times the installed RAM) does not cause a problem, and this also eliminates the need to worry over how large to make it.