Average gross earnings at HUF 438,200 in November 2020

Figures

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Full-time employees’ gross average earnings were HUF 438,200 in November 2020, 8.6% higher than a year earlier, according to data published by the Central Statistical Office (KSH).

In November 2020, full-time employees’ average gross earnings at corporations employing at least 5 persons, at budgetary institutions and significant non-profit organizations in respect of employment, amounted to HUF 438,200, and excluding fostered workers were HUF 450,300.

Average net earnings were HUF 291,400 excluding tax benefits and HUF 300,200 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 8.6%. Average net earnings including tax benefits rose to a greater extent, by 8.8%, compared to the same period of the previous year. The year end premiums and bonuses explain a significant part of the growth in average earnings, KSH notes.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 375,700, 8.7% higher than in November 2019.

Avg gross earnings at HUF 399,300 in January-November

Full-time employees’ average gross earnings amounted to HUF 399,300 in January-November 2020, KSH reports. Excluding fostered workers, it amounted to HUF 410,100.

Average net earnings were HUF 265,500 excluding tax benefits, and HUF 274,300 including them.

Both average gross earnings and average net earnings without tax benefits rose by 9.6%, average net earnings including tax benefits increased by 9.9% compared to the same period of 2019, in relation to a temporary decrease as well as elimination of social security payment obligations in certain economic branches, KSH notes.

Average gross earnings were the highest in the financial and insurance activities sections (HUF 699,400) and the lowest (HUF 250,700) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 434,600 for men and to HUF 366,600 for women, representing increases of 9.2% for men and 10.2% for women within one year.

Average gross regular earnings were estimated at HUF 369,700, up 9.2% compared to the same period of 2019.

Along with the 3.4% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6%.

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