Avg Gross Earnings at HUF 581,900 in Dec 2022

Excluding fostered workers, it amounted to HUF 592,900 .

Average net earnings were HUF 387,000 excluding tax benefits and HUF 400,300 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 18.1%. Average net earnings including tax benefits (as well as tax and contribution exemptions) grew by 18.7%, compared to the same period of the previous year, KSH notes.

Estimated average gross regular earnings were HUF 495,700, some 8.6% higher than in December 2021.

Real earnings fell by 5.1%, along with a 24.5% year-on-year increase in consumer prices.

Gross median earnings reached HUF 447,800, surpassing the previous year’s value by 18%.

Net median earnings including tax benefits were HUF 309,100, surpassing the December last year value by 18.9%.

Jan-Dec Gross Average Earnings at HUF 515,800

Average gross earnings in January-December 2022 amounted to HUF 515,800 and excluding fostered workers to HUF 526,300.

Average net earnings reached HUF 343,000 excluding tax benefits and HUF 355,300 including them.

Both average gross earnings and average net earnings without tax benefits went up by 17.5%, and average net earnings including tax benefits grew by 18.2% year-on-year. The outstanding growth is due in the first place to the planned wage raises in certain government branches, as well as the increase carried out in 2022 in the minimum wage and the minimum wage for skilled workers, KSH explains.

The highest average gross earnings were recorded in the financial and insurance activities section (HUF 859,600) and the lowest ones in accommodation and food service activities (HUF 321,500).

Average gross earnings amounted to HUF 565,700 for full-time male employees and to HUF 467,900 for full-time female employees, representing increases of 18.1% for males and 16.5% for females over a year.

Estimated regular average gross earnings were HUF 469,800, being 16.3% higher than a year earlier.

Regular average gross earnings reached HUF 473,800 in the business sector, HUF 449,900 in the budgetary sector, and HUF 499,000 in the non-profit sector, representing growths of 15%, 17.3%, and 25.4%, compared to the previous year. The reclassification of several educational institutions 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 was still present in the first semester of the year.

Real earnings rose by 2.6%, along with a 14.5% year-on-year increase in consumer prices.

Gross median earnings were HUF 403,100, surpassing the previous year’s value by 15.2%.

Net median earnings including tax benefits were HUF 280,600, some 17.2% higher than in the previous year.