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Average gross earnings at HUF 467,300 in January

Figures

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In January 2022 full-time employees’ average gross earnings stood at HUF 467,300, according to data published by the Central Statistical Office (KSH).

Excluding fostered workers, average gross earnings reached HUF 477,700.

Average net earnings amounted to HUF 310,700 excluding tax benefits and HUF 322,100 including them.

Both average gross earnings and average net earnings excluding tax benefits grew equally, by 13.7%, KSH notes.

The growth of average net earnings including tax benefits was 14.8%, 1.1 percentage points higher, compared to the same period of the previous year due to income tax exemption of employees under 25 years, introduced in 2022 up to a defined amount of earnings.

Gross median earnings reached HUF 375,800 surpassing, representing an increase of 13.1% compared to January 2021.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 441,900, about 13.7% higher than a year before.

Gross average earnings reached HUF 476 800 in the business sector, HUF 436 200 in the budgetary sector, and HUF 479 300 at non-profit organizations, representing a growth of 12.5% in the business sector, 12.8% in the budgetary sector, and 32.1% at non-profit organizations compared to the first month of 2021.

Wage raises in certain government branches – including the pay raise of medical staff in the health care sector, and judges and prosecutors– contributed to the growth of average earnings in the budgetary sector, the statistical agency explains.

KSH has reclassified several educational institutions 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.

Average gross earnings were the highest in the financial and insurance activities sections (HUF 785,200) and the lowest (HUF 303,300) in the accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 508,100 for men and to HUF 427,200 for women, representing increases of 13.6% for men and 13.7% for women within one year.

Full-time employees’ average gross earnings amounted to HUF 339,500 for manual workers and to HUF 594,100 for non-manual workers, representing increases of 14.2% for manual workers and 13.4% for non-manual workers compared to January 2021

Along with the 7.9% rise in consumer prices compared to the same period of the previous year, real earnings increased by 5.4%, according to KSH.

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