Regular average gross earnings (without premiums and one-month bonuses) were estimated at HUF 540,200, about 14.5% higher than a year earlier. Regular average gross earnings amounted to HUF 545,000 in the business sector, HUF 517,300 in the budgetary sector and HUF 556,300 in the non-profit sector, rising by 14.9%, 12.1% and 15.8%, respectively, over a year.
Average net earnings reached HUF 375,300, excluding tax benefits, and HUF 389,300, including them, both of which were 14% higher than in October 2022.
Real earnings were up by 3.7%, along with a 9.9% increase in consumer prices compared to the same period of the previous year.
Median gross earnings were HUF 456,300, being 14.4% above the level a year earlier.
Median net earnings including tax benefits reached HUF 318,300, surpassing the value for the same period of the previous year by 15.3%.
Full-time employees’ average gross earnings were HUF 557,800 in January-October 2023.
Average net earnings reached HUF 370,900, excluding tax benefits, and HUF 384,600, including tax benefits.
Average gross earnings, average net earnings excluding tax benefits as well as net earnings including tax benefits increased equally by 14.0% compared to the same period of the previous year.
The change in average earnings was affected by a service premium, the ‘firearms money’, for the army and the law enforcement personnel, corresponding to six months’ salary and paid in February 2022. Without this effect, the growths in average gross earnings and in average net earnings including tax benefits would be 1.6 percentage points higher each, KSH explains.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
