Average gross earnings at HUF 495,900 in May

Figures

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Full-time employees’ gross average earnings were HUF 495,900 in May 2022, according to data published by the Central Statistical Office (KSH).

Average gross earnings at corporations employing at least five persons, at budgetary institutions, and significant non-profit organizations in respect of employment amounted to HUF 506,600.

Average net earnings were HUF 329,700 excluding tax benefits and HUF 342,000 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 14.9% compared to May 2021.

The growth of average net earnings including tax benefits (as well as tax- and contributions exemptions) increased by 15,6%, 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 461,700, being 14.3% higher than a year earlier.

Real earnings rose by 3.8%, along with a 10.7% year-on-year increase in consumer prices.

Gross median earnings reached HUF 397,900, up 14.5% compared to the same month of 2021.

Net median earnings including tax benefits were HUF 276,000, 15.9% higher year-on-year.

January-May avg gross earnings at HUF 505,600

In January-May 2022, full-time employees’ average gross earnings amounted to HUF 505,600, and excluding fostered workers to HUF 516,800.

Average net earnings reached HUF 336,200 excluding tax benefits and HUF 348,200 including them.

Both average gross earnings and average net earnings without tax benefits went up by 18.5%, average net earnings including tax benefits grew by 19.2% 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 notes.

The highest average gross earnings were recorded in the financial and insurance activities sections (HUF 869,500) and the lowest ones for accommodation and food service activities (HUF 311,800).

Average gross earnings amounted to HUF 556,000 for full-time male employees and to HUF 455,100 for full-time female employees, representing increases of 19,5% for males and 17% for females over a year.

Regular average gross earnings are estimated at HUF 452,200, being 14.2% higher than a year earlier.

Regular average gross earnings reached HUF 454,000 in the business sector, HUF 437,600 in the budgetary sector, HUF 485,700 in the non-profit sector, representing growths of 12.4%, 14.7% as well as 33.3%, compared to the previous year.

The fact that several educational institutions have been reclassified 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, having still a significant base effect in the first semester of the year.

Real earnings rose by 8.7%, along with a 9% year-on-year increase in consumer prices.

Gross median earnings were HUF 388,400, surpassing the previous year’s value by 14.2%. Net median earnings including tax benefits were HUF 269,500, 15.8% higher than in the previous year.

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