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Companies to raise wages about 4.3% in 2011

Hungarian companies will raise base wages about 4.3% next year, according to a survey by the German-Hungarian Chamber of Industry and Commerce and Kienbaum Management Consultants.

Employers, unions and government representatives agreed on a recommended wage rise of 4-6% for 2011 at a meeting of the Interest Coordination Council (OÉT) a week earlier.

The survey showed companies raised base wages about 6.6% in 2010. Employees with a vocational school or university diploma received total annual remuneration of HUF 4.4m on average, but employees at big companies received 60-70% more than those at small businesses. Unskilled laborers received HUF 2.4 million and managing directors received more than HUF 25 million in remuneration. (MTI – Econews)