Avg Gross Earnings Continue to Climb in March

Figures

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In Hungary, full-time employees’ average gross earnings were HUF 658,400 in March 2024, which was 13.9% higher than a year earlier, according to data published by the Central Statistical Office (KSH).

Regular average gross earnings (without premiums and one-month bonuses) were estimated at HUF 598,400, being 14.9% higher than in the same period of the previous year. Regular average gross earnings amounted to HUF 598,900 in the business sector, HUF 588,800 in the budgetary sector and HUF 620,200 in the non-profit sector, rising by 13.3%, 19.6% and 18.8%, respectively, over a year.

Average net earnings reached HUF 437,800, excluding tax benefits, and HUF 452,700, including them, being 13.9% and 13.7% higher than in March 2023, KSH notes.

Real earnings were up by 9.9%, along with a 3.6% increase in consumer prices compared to the same period of the previous year.

Median gross earnings were HUF 510,000, being 15.7% above the level a year earlier.

Median net earnings including tax benefits reached HUF 354,500, surpassing the value for the same period of the previous year by 15.9%.

January-March Avg Gross Earnings at HUF 623,000

Full-time employees’ average gross earnings amounted to HUF 623,000.

Average net earnings were HUF 414,300, excluding tax benefits, and HUF 428,800, including tax benefits.

Average gross earnings and average net earnings excluding tax benefits increased by 14.2% and net earnings including tax benefits rose by 14.0% compared to the same period of the previous year.

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