Young Hungarians seek financial independence
More than half of the young generation of Hungarians aged 19-29 have an income from a full-time job, while less than one third receive financial support from their families, according to a youth index compiled by K&H Bank.
Salaries have been growing steadily in recent years. According to data from the Central Statistical Office (KSH), net wages grew by 12.9% last year. This increase has impacted a large majority of the 19-29 age category, with half of them sensing a positive development in their financial situation, according to a survey by K&H Bank, cited by business news portal vg.hu.
The majority of those aged 19-29 have a salary from a full-time job. Only 30% rely on financial support from their families, while state subsidies bring revenues for 19%. Those earning money from part-time or temporary jobs account for 25%.
As for the perception of salary increases, 43% said they see pay rises as small and 7% as big. Only 11% said their salary had decreased, while for 39% it remained unchanged.
Young people aged mainly 19-25 still receive support from their parents, with 44% of those questioned in this age category enjoying some income from their families. This rate is higher in the case of students, at 55%, but much lower among those aged 26-29, where only 10% receive family support, the K&H youth index shows.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.