Average Gross Earnings at HUF 497,200 in August

Excluding fostered workers, average gross earnings reached HUF 507,000.

Average net earnings were HUF 330,600 excluding tax benefits and HUF 342,900 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 16.6%. Average net earnings including tax benefits (as well as tax and contribution exemptions) grew by 17.3%, compared to the same period of the previous year.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) are estimated at HUF 472,200, some 15.6% higher than a year earlier.

Real earnings rose by 0.9%, along with a 15.6% year-on-year increase in consumer prices.

Gross median earnings reached HUF 402,200, surpassing the previous year’s value by 15.6%.

Net median earnings including tax benefits were HUF 280,200, 17.5% higher than in August of the 2021.

Jan-Aug Average Gross Earnings at HUF 503,600

Full-time employees’ average gross earnings in January-August 2022 amounted to HUF 503,600, excluding fostered workers to HUF 514,400.

Average net earnings reached HUF 334,900 excluding tax benefits and HUF 347,000 including them.

Both average gross earnings and average net earnings without tax benefits went up by 17.5%, and average net earnings including tax benefits grew by 18.2% year-on-year. The payment of the “service premium” (the so-called “firearms money”) in February for the army and the law enforcement personnel, corresponding to a six-month salary, the planned wage raises in certain government branches, as well as the increase in the minimum wage and the minimum wage for skilled workers explain, in the first place, the outstanding growth, KSH explains.

The highest average gross earnings were recorded in the financial and insurance activities sections (HUF 844,200) and the lowest ones for accommodation and food service activities (HUF 314,900).

Average gross earnings amounted to HUF 551,700 for full-time male employees and to HUF 456,400 for full-time female employees, representing increases of 18.1% for males and 16.3% for females over a year.

Regular average gross earnings (without premiums and one-month bonuses) are estimated at HUF 459,100, being 14.8% higher than a year earlier.

Regular average gross earnings reached HUF 462,400 in the business sector, HUF 441,500 in the budgetary sector, and HUF 488,600 in the non-profit sector, representing growths of 13.4%, 14.9% and 30.5%, compared to previous year. The reclassification of several educational institutions from the budgetary into the non-profit sector, following a change in their controlling authority in August 2021, contributed to the above-average increase in regular average earnings in the non-profit sector, as such a significant base effect was still present in the first semester of the year, the statistical agency notes.

Real earnings rose by 6.1%, along with a 10.7% year-on-year increase in consumer prices.

Gross median earnings were HUF 394,500, surpassing the previous year’s value by 14.7%.

Net median earnings including tax benefits were HUF 273,500, 16.3% higher than in the previous year.