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Avg Gross Earnings at HUF 559,100 in July 2023

Figures

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Full-time employees’ average gross earnings amounted to HUF 559,100 in July 2023, having risen by 15.2% compared with a year earlier, according to data published by the Central Statistical Office (KSH).

Average net earnings with tax benefits reached HUF 385,600, up 15.1% year-on-year.

Still, due to the high inflation, real earnings decreased by 2% compared to July 2022.

Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) were HUF 526,800, being 15.6% higher than a year earlier.

Regular average gross earnings reached HUF 529,000 in the business sector, HUF 516,800 in the budgetary sector, and HUF 532,700 in the non-profit sector, representing growths of 16.1%, 14.7%, and 12.5%, respectively, compared to the previous year.

Median gross earnings reached HUF 450,000, surpassing the previous year’s value by 16.3%.

Median net earnings including tax benefits were HUF 311,400, surpassing the value for the same period of the previous year by 15.9%.

Jan-Jul Avg Gross Earnings at HUF 557,100

In January-July 2023, average gross earnings amounted to HUF 557,100. Average net earnings were HUF 370,500, excluding tax benefits, and HUF 384,000, including tax benefits.

Full-time employees’ average gross earnings at enterprises employing at least five persons, at budgetary institutions as well as at non-profit organizations that are significant in terms of employment amounted to HUF 574,700.

Average net earnings were HUF 382,200, excluding tax benefits, and HUF 395,700 including tax them.

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