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Studying pays off

A basic education is currently enough to land a job paying HUF 130,000 gross a month on average, according to a survey by the Fizetesek.hu portal, a subsidiary of the Workania job agency, while a college degree is likely to double this amount.

A college degree is sufficient to more than double the amount one can earn with basic education to HUF 277,000 gross on average, while finishing university means a triple multiplier, averaging at HUF 344,000. At the top tier, Hungarians with post-graduate degrees can expect to get paid HUF 453,000 on average.

In a breakdown by sector, diploma holders can expect the most lucrative offers in the telecommunication industry, where a degree brings an average pay of HUF 523,000. Telco is followed in the rankings by leasing with a HUF 484,000 salary, then logistics (HUF 476,000), real estate (HUF 471,000), finance (HUF 469,000) and IT (HUF 453,000).

Finishing school seems to offer additional benefits, since another survey by the Budapest Business School revealed that some 88% of companies employ fresh graduates. Of the 200 companies participating in the survey, one-third said they hired one new graduate over the past five years, another third of them employed two to three, while one-sixth of them offered jobs for more than 10 newly graduated people over the course of a year.

Although a diploma is an advantage, the demands of the new employers are also high: a new co-worker is required to have extensive professional insight, fluency in foreign languages as well as the ability to use computers.

Out of 100 companies, 93 said that the newly hired graduates are accepted based on what they learned in school. The majority of them said that a college major relevant to the given industry “matters,” while 33% said it is “indispensable.” The larger part of employers demands that their fresh graduate employees be able to use the theoretical knowledge they acquired during their studies in practice.