Average Gross Earnings at HUF 567,800

Figures

Photo by Pixabay

In May 2023 full-time employees’ average gross earnings in Hungary were HUF 567,800, up 17.9% compared to the same month of 2022, according to data by the Central Statistical Office (KSH).

Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) were HUF 527,900, some 16.9% higher than a year earlier. Regular average gross earnings reached HUF 534,000 in the business sector, HUF 504,800 in the budgetary sector, and HUF 533,300 in the non-profit sector, representing growths of 18.5%, 13.2%, and 12.6% compared to the previous year.

Average net earnings were HUF 377,600 excluding tax benefits and HUF 391,500 including them, being 17.9% and 17.7% higher than a year earlier.

Real earnings fell by 3%, along with an outstanding 21.5% increase in consumer prices compared to the same period of the previous year.

Median gross earnings reached HUF 449,100, surpassing the previous year’s value by 17.8%.

Median net earnings including tax benefits were HUF 310,600, surpassing the value for the same period of the previous year by 16.8%.

January-May Average Gross Earnings at HUF 554,700

Full-time employees’ average gross earnings amounted to HUF 554,700 in January-May 2023, KSH notes.

Average net earnings were HUF 368,900, excluding tax benefits, and HUF 382,300, including tax benefits.

Both average gross earnings and average net earnings excluding tax benefits increased by 13.2%, while net earnings including tax benefits rose by 13.1% compared to the same period of the previous year.

The change in average earnings was affected by the last year’s February payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel corresponding to a six-month salary. Without this effect, the rise of the average gross earnings and the average net earnings including tax benefits would be higher by 3.2 percentage points.

ADVERTISEMENT

Surety Stock at State-owned Guarantors Set to Climb Analysis

Surety Stock at State-owned Guarantors Set to Climb

Lawmakers to Vote Monday on New President Parliament

Lawmakers to Vote Monday on New President

Újház Debuts Construction Industry Trend Monitor Residential

Újház Debuts Construction Industry Trend Monitor

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

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.