Average gross earnings reach HUF 511,400 in March
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In March 2022 full-time employees’ gross average earnings were HUF 511,400, while average net earnings with tax benefits reached HUF 352,200, according to data published by the Central Statistical Office (KSH).
Excluding fostered workers, gross average earnings stood at HUF 522,300. Excluding tax benefits, average net earnings amounted to HUF 340,100
Both average gross earnings and average net earnings excluding tax benefits grew by 17.5%. The growth of average net earnings including tax benefits was 18,1%, 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 459,700, being 15.5% higher than in March 2021.
Gross median earnings reached HUF 394,500, up 15% year-on-year. Net median earnings including tax benefits were HUF 273,700, 16.5% higher than a year ago.
Jan-Mar gross average earning at HUF 508,300.
Full-time employees’ average gross earnings amounted to HUF 508,300 including fostered workers and HUF 519,600 excluding them.
Average net earnings reached HUF 338 000 excluding tax benefits and HUF 349,800 including them.
Both average gross earnings and average net earnings without tax benefits went up by 21%, and average net earnings including tax benefits grew by 21.6% compared to the corresponding period of the previous year.
The payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel, corresponding to six-month salary, and the planned wage raises in certain government branches, as well as the significant increase in the minimum wage and the minimum wage for skilled workers explain, in the first place, the outstanding growth, KSH explains.
The highest average gross earnings were recorded in information and communication (HUF 810,000) and the lowest ones for accommodation and food service activities (HUF 308,000).
Average gross earnings amounted to HUF 561,600 for full-time male employees and to HUF 454,200 for full-time female employees, representing increases of 22,7% for males and 18,3% for females compared to the same period of 2021.
Regular average gross earnings stood at HUF 447,700, being 14.3% higher than a year earlier.
Regular average gross earnings reached HUF 449 500 in the business sector, HUF 431,900 in the budgetary sector, HUF 483 300 in the non-profit sector, representing growths of 12.5%, 14.6% and 33.8% y.o.y.
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, leading to a significant base effect in the first semester, according to KSH-
Real earnings rose by 11.8%, along with an 8.2% year-on-year increase in consumer prices.
Gross median earnings were HUF 382 000, up 14% y.o.y. Net median earnings including tax benefits were HUF 266,000, 15.6% higher than in January-March 2021.
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