Avg gross earnings at HUF 449,400 in Dec 2020

Figures

Full-time employees’ gross average earnings were HUF 449,400 in December 2020, 10.6% higher than a year earlier, according to data by the Central Statistical Office (KSH).

Full-time employees’ average gross earnings (as defined by the Hungarian Central Statistical Office) – at corporations employing at least 5 persons, at budgetary institutions and significant non-profit organizations in respect of employment, – amounted to HUF 461,700 excluding fostered workers.

Average net earnings were HUF 298,900 excluding tax benefits and HUF 308,000 including them.

Both average gross earnings and average net earnings excluding tax benefits grew equally, by 10.6%. Average net earnings including tax benefits rose by 10.8% compared to the same period of the previous year. The increase in year-end premiums and bonuses explain a significant part of the changes in average earnings, KSH notes.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 383,300, which is 10.3% higher than a year before.

Avg gross earnings at HUF 403,600 in Jan-Dec 2020

Full-time employees’ average gross earnings amounted to HUF 403,600 and excluding fostered workers to HUF 414,500.

Average net earnings were HUF 268,400 excluding tax benefits, and HUF 277,200 including them.

Both average gross earnings and average net earnings without tax benefits rose by 9.7%, average net earnings including tax benefits increased by 10% compared to the same period of the previous year, in relation to a temporary decrease as well as elimination of social security payment obligations in certain economic branches.

Average gross earnings were the highest in the financial and insurance activities sections (HUF 709,300) and the lowest (HUF 250,900) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 439,900 for men and to HUF 370,000 for women, representing increases of 9% for men and 10.2% for women within one year.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 371 000, which is 9.3% higher than a year before.

Along with the 3.3% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.2%.

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