Average Gross Earnings at HUF 503,500 in June

Excluding fostered workers, average gross earnings amounted to HUF 514,300.

Average net earnings were HUF 334,800 excluding tax benefits and HUF 347,200 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 15.4%. Average net earnings including tax benefits (as well as tax- and contribution exemptions) grew by 16,1%, 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 469,500, approximately 16% higher than a year earlier.

Real earnings rose by 3.3%, along with an 11.7% year-on-year increase in consumer prices.

Gross median earnings reached HUF 403,000 surpassing by 15.1% the previous year’s value.

Net median earnings including tax benefits were HUF 280,800, 17% higher than in June 2021.

January-June Average Gross Earnings at HUF 505,300

Full-time employees’ average gross earnings at enterprises employing at least 5 persons, at budgetary institutions and at non-profit organizations that are significant in terms of employment – amounted to HUF 505,300, excluding fostered workers to HUF 516,400.

Average net earnings reached HUF 336,000 excluding tax benefits and HUF 348,000 including them.

Both average gross earnings and average net earnings without tax benefits went up by 18%, and average net earnings including tax benefits grew by 18.7% 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 noted.

The highest average gross earnings were recorded in the financial and insurance activities sections (HUF 862,900) and the lowest ones for accommodation and food service activities (HUF 313,900).

Average gross earnings amounted to HUF 554,700 for full-time male employees and to HUF 456,100 for full-time female employees, representing increases of 18,8% for males and 16,6% for females over a year.

Regular average gross earnings (without premiums and one-month bonuses) are estimated at HUF 456,000, being 14.7% higher than a year earlier.

Regular average gross earnings reached HUF 458,600 in the business sector, HUF 438,700 in the budgetary sector, HUF 490,000 in the non-profit sector, representing growths of 13.1%, 14.6%, and 33.6%, 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, as such a significant base effect is still present in the first semester of the year, the agency explained.

Real earnings rose by 7.9%, along with a 9.4% year-on-year increase in consumer prices.

Gross median earnings were HUF 391,000, surpassing by 14.4% the previous year’s value. Net median earnings including tax benefits were HUF 272,700, 16.6% higher than in the previous year.