• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
Average gross wage in Hungary reaches all-time record – UPDATEDAverage gross wage in Hungary reaches all-time record – UPDATEDAverage gross wage in Hungary reaches all-time record – UPDATEDAverage gross wage in Hungary reaches all-time record – UPDATED
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • Forint on a slope again, and the worst may come next week

  • Budapest Airport offers 107 destinations, plans to launch these Transatlantic flights

Support us
Daily News Hungary Daily News Hungary · 24/08/2022
· Business

Average gross wage in Hungary reaches all-time record – UPDATED

The average gross wage in Hungary climbed by an annual 15.4 percent to HUF 503,500 (EUR 1,216) in June, the Central Statistical Office (KSH) said on Wednesday.

The data for full-timers at businesses with at least five people on payroll show the average net wage rose at the same pace to 334,800 forints. The gross median wage increased by 15.1 percent to 403,000 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 3.3 percent, calculating with June CPI of 11.7 percent.

  • Read also: Air chaos across Europe: Can we still afford to book flight tickets from September?

Excluding the 75,100 Hungarians working full time in fostered work programmes – who earned on average gross 100,100 forints in June – the average gross monthly wage in Hungary was 514,300 forints.

The average gross wage in the business sector, which includes state-owned companies, rose by 14.8 percent to 512,500 forints, excluding fostered workers. The average gross wage in the public sector, excluding fostered workers, climbed 12.1 percent to 511,800 forints.

In the non-profit sector, the average gross wage, without fostered workers, increased by 30.8 percent to 543,700 forints, as a number of people working in education who were earlier counted in the public sector were reclassified.

A broader set of data covering all full-time employees, not only the ones at employers with a headcount of five or more, show the average gross wage was 488,700 forints and the average net wage 325,000 forints in June. The median gross wage reached 389,200 forints.

Excluding fostered workers, full-timers earned a gross monthly 498,400 forints and net 331,400 forints.

Hungarians employed in finance and insurance were the highest earners in June, getting an average gross 829,700 forints. People working in commercial accommodations and catering earned the least, 323,900 forints.

In the period January-June, men earned, on average, 21.6 percent more than women.

UPDATE (12.21 GTM)

Andras Horvath, chief analyst at Magyar Bankholding, said wage growth beat expectations, adding that the trend was supported by employers’ efforts to attract and retain workers in a tight labour market, while keeping remuneration in line with rising prices. He put full-year wage growth over 16.5 percent.

romania flag
Read alsoRomania is about to catch up with Hungary in terms of GDP

Source: MTI

If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
economy Hungary money
Share

Hot news

  • Matolcsy: China’s Belt and Road Initiative ‘clear success’

  • Will the ban on Ukrainian grain imports return?

  • Govt ‘protecting car industry’ with backing for EURO7 regulations

  • Hungarian state bus company Volánbusz on the verge of collapse?

  • Government: EU siding with human smugglers, no rush to ratify Sweden’s NATO bid

  • Government to extend mandatory discounts, deposit rate caps

4 Comments

  1. Post Modern says:
    24/08/2022 at 11:07

    In every country the wage figures stated are the gross figure as in before Income Tax and Social security payments are deducted. Please would the DNH make it it clear if the figures it is quoting are before or after such deductions, because as it stands it is not possible to do any meaningful comparison with other EU member states.

  2. Anonymous says:
    24/08/2022 at 11:34

    Sorry, but where I live I’m not seeing these figures. People are not earning that sort of money

  3. Post Modern says:
    24/08/2022 at 14:15

    @Anonymous, my cousin’s son is a BKK bus driver. His take home pay per month (ie after Income Tax and Taj Kartya health/social security deductions) is 360,000 ft. He tells me that Tram drivers earn more. My painter decorator here in Budapest earns around 650,000 ft a month (before he pays his KATA tax and so forth). Just saying….

  4. Anonymous says:
    25/08/2022 at 07:49

    Maybe it’s different in southern Hungary. My friend works full time for an accountancy firm, she takes home 280,000 ft a month after tax. That’s the only wage she has coming in as she’s a widow

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.

Thank you!

You have successfully joined our subscriber list.

.

Contact us

About us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
Matolcsy: China’s Belt and Road Initiative ‘clear success’

Matolcsy: China’s Belt and Road Initiative ‘clear success’

Read More
Will the ban on Ukrainian grain imports return?

Will the ban on Ukrainian grain imports return?

Read More
Govt ‘protecting car industry’ with backing for EURO7 regulations

Govt ‘protecting car industry’ with backing for EURO7 regulations

Read More
Hungarian state bus company Volánbusz on the verge of collapse?

Hungarian state bus company Volánbusz on the verge of collapse?

Read More
Government: EU siding with human smugglers, no rush to ratify Sweden’s NATO bid

Government: EU siding with human smugglers, no rush to ratify Sweden’s NATO bid

Read More
Government to extend mandatory discounts, deposit rate caps

Government to extend mandatory discounts, deposit rate caps

Read More
<b> What happened today in Hungary? – 25 September, 2023 </b>

What happened today in Hungary? – 25 September, 2023

Read More
PHOTO: President Novák meets Elon Musk in Texas

PHOTO: President Novák meets Elon Musk in Texas

Read More
Here is the third-way alternative in Hungarian politics

Here is the third-way alternative in Hungarian politics

Read More
The victory of Pákozd – a symbol of Hungary’s independence war

The victory of Pákozd – a symbol of Hungary’s independence war

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?