Gross median wage up by double digits in Hungary
Change language:
The average gross wage in Hungary climbed an annual 17.5 percent to 511,400 forints (EUR 1,338) in March, data released by the Central Statistical Office (KSH) on Tuesday show.
The data for full-timers at businesses with at least five people on payroll show the average net wage rose at the same clip to 890 euros (340,100 forints).
The gross median wage increased by 15.0 percent to 1032 euros (394,500 forints).
Hungary’s statutory minimum wage was raised by over 19 percent from the start of the year, while the salaries of many people employed in the public sector were bumped up, putting wage growth in the double digits from January.
Real wage growth was 8.3 percent, calculating with March CPI of 8.5 percent.
Full riport – KSH
March 2022
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 organisations in respect of employment, – amounted to HUF 511,400, excluding fostered workers were HUF 522,300.
Average net earnings were HUF 340,100 excluding tax benefits and HUF 352,200 including them.
Both average gross earnings and average net earnings excluding tax benefits grew by 17.5%. The growth of average net earnings including tax benefits was 18,1%, compared to the same period of the previous year.
Average gross regular earnings (gross earnings without premiums and one-month bonuses) are estimated at HUF 459,700, being 15.5% higher than a year before.
Gross median earnings reached HUF 394,500 surpassing by 15.0% the previous year’s value. Net median earnings including tax benefits were HUF 273,700, 16.5% higher than in March of the previous year.
January–March 2022
Full-time employees’ average gross earnings (as defined by the Hungarian Central Statistical Office) – at enterprises employing at least 5 persons, at budgetary institutions and at non-profit organisations that are significant in terms of employment – amounted to HUF 508,300, excluding fostered workers to HUF 519,600.
Average net earnings reached HUF 338 000 excluding tax benefits and HUF 349,800 including them.
Both average gross earnings and average net earnings without tax benefits went up by 21.0%, average net earnings including tax benefits grew by 21.6% compared to the corresponding period of the previous year. The payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel, corresponding to six-month salary, and the planned wage raises in certain government branches, as well as the significant increase in the minimum wage and the minimum wage for skilled workers explain, in the first place, the outstanding growth.
This does seem to contradict other articles in which police and teachers are paid less than €600 per month. Am wondering if these high figures are more government propaganda. A colleague of mine is working full time for a finance company and takes home less than 290,000 HUF per month……..