Average gross earnings at HUF 426,500 in August
Photo by Pixabay
In August 2021, full-time employees’ average gross earnings stood at HUF 426,500, up 8.9% year-on-year, according to data by the Central Statistical Office (KSH).
Excluding fostered workers, average gross earnings came to HUF 436,700.
Average net earnings excluding tax benefits reached HUF 283,600 (up 8.9% y.o.y.) and HUF 292,300 (up 8.7% y.o.y.) including them.
Regular average gross earnings (without premiums and one-month bonuses) are estimated at HUF 407,800, 8.4% higher than a year before.
Gross median earnings reached HUF 348,100, surpassing August 2020 levels by 8.8%.
January-August avg gross earnings at HUF 428,700
Average gross earnings amounted to HUF 428,700 and excluding fostered workers to HUF 439,400 in January-August 2021.
Average net earnings reached HUF 285,100 excluding tax benefits and HUF 293,600 including them.
Both average gross earnings and average net earnings without tax benefits went up by 8.4% and average net earnings including tax benefits grew by 8.0% compared to the corresponding period of the previous year.
Average gross earnings reached HUF 441,300 in the business sector, HUF 403,300 in the budgetary sector, HUF 386,700 in the non-profit sector, representing growths of 7.8%, 9.6%, and 10.1%, compared to January-August 2020.
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 751,700) and the lowest ones for accommodation and food service activities (HUF 259,600).
Average gross earnings amounted to HUF 467,200 for full-time male employees and to HUF 392,300 for full-time female employees, representing increases of 8.7% for males and 8.1% for females over a year.
Regular average gross earnings (without premiums and one-month bonuses) are estimated at HUF 399,700, these were 8.8.% higher than a year earlier.
Real earnings rose by 3.9%, along with a 4.3% year-on-year increase in consumer prices.
Gross median earnings reached HUF 343,800, surpassing the previous year’s value by 9.2%..
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.