Average gross earnings at HUF 428,100 in September
Image by Shutterstock.com
In September 2021, full-time employees’ average gross earnings were HUF 428,100, according to data by the Central Statistical Office (KSH).
Excluding fostered workers, average gross earnings amounted to HUF 438,200,
Average net earnings excluding tax benefits reached HUF 284,700 and HUF 293,400 including them.
Both average gross earnings and average net earnings excluding tax benefits increased by 9.1%. Average net earnings including tax benefits grew by 8.9% compared to the same period of the previous year.
Regular average gross earnings (without premiums and one-month bonuses) are estimated at HUF 406,800, 9% higher than a year before.
Gross median earnings reached HUF 349,300, up 8.8% year-on-year.
Average gross earnings reach HUF 428,600 in January-September
Full-time employees’ average gross earnings amounted to HUF 428,600 and excluding fostered workers to HUF 439,300 in January-September 2021. Average net earnings reached HUF 285,000 excluding tax benefits and HUF 293,600 including them.
Both average gross earnings and average net earnings without tax benefits went up by 8.5%, average net earnings including tax benefits grew by 8.1% compared to the corresponding period of the previous year.
Average gross earnings reached HUF 440,900 in the business sector, HUF 402,900 in the budgetary sector, HUF 391,400 in the non-profit sector, representing growths of 7.8%, 9.6%, and 11.4%, respectively, compared to the same period of the previous year.
Due to planned wage raises in certain government branches – including the pay raise of doctors, judges and prosecutors, and employees of nurseries – the growth of average wages in the budgetary sector exceeded that of the national economy, KSH notes.
Several educational institutions have been reclassified from the budgetary into the non-profit sector, following a change in their controlling authority, leading to a significant increase in average earnings in the non-profit sector.
The highest average gross earnings were recorded in the financial and insurance activities section (HUF 746,900) and the lowest ones for accommodation and food service activities (HUF 261,200).
Average gross earnings amounted to HUF 467,300 for full-time male employees and to HUF 392,100 for full-time female employees, representing increases of 8.8% for males and 8.2% for females over a year.
Regular average gross earnings (without premiums and one-month bonuses) are estimated at HUF 400,700, these were 8.8.% higher than a year earlier.
Real earnings rose by 3.9%, along with a 4.4% year-on-year increase in consumer prices.
Gross median earnings were HUF 344,500, up 9.3% compared to the first nine months of 2020.
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.