It is shocking how low Hungarian salaries are
If we compare salaries in euro, the difference between Western-Europe and Hungary is shocking. If we do so taking into consideration the purchasing power standard (PPS), they become lower, but still significant. Based on the PPS, a Danish, German or Austrian worker gets two or even three times more than a Hungarian.
According to penzcentrum.hu, the average Danish gets 27.2 EUR per hour while this sum is only 2.4 EUR in Bulgaria. The former is 11 times higher than the latter even though both countries are members of the European Union. The same difference is typical in Luxembourg, Sweden, Belgium, Ireland, France and Germany.
Hungary is in third place – counting from behind on the list of countries where people can get higher salaries. Only Bulgarians and Romanians can take less gross average salary home than the Hungarians
whose median income is 1,562 HUF per hour (less than 4.37 EUR).
Meanwhile, the average Danish worker gets 9,656 HUF (27 EUR) per hour.
It is another question what that money is worth on the market; what one can buy for it in Denmark and Hungary. Of course, in Denmark, the cost of living is much higher than in Hungary, so the 11 times higher wage does not equal an 11 times higher living standard.
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Based on a report of Eurostat, taking into consideration a purchasing power standard, the difference between Denmark and Hungary melts to “only” 4.4 times in favour of the Northern-European country. According to the PPS, Hungary is placing fifth from behind on the list mentioned above. The country precedes Lithuania, Latvia, Portugal, Bulgaria, but Romania is before Hungary in this respect. That means that an average Romanian can live on a higher living standard than an average Hungarian because even though he gets a lower salary
he can buy more for it in Romania.
In the case of the Netherlands, the median gross salary corrected with PPS is two times more than in Hungary. That is why there are so many Hungarians who decided to leave the country. They would like to reach a higher standard of living in Western-European countries or the United States of America. Even though the Hungarian government launched some programs to help them come home, they were not successful in doing so.
Coronavirus changed the trends since many were forced to return home while others could not leave the country. However, after the end of the epidemic, many are believed to leave Hungary again. For example, those healthcare professionals who are now forbidden to leave their workplaces, but get low salaries. We reported about this problem HERE.
3 Comments
It is Fact and it is Un-acceptable.
We know through factual statistical data, the ongoing “mood” of younger Hungarians, especially those in educational environments, that will give them letters after their name, or bits of paper at the end of their studies, the major reasons, why they intend to look further afield, outside Hungary, in search of career opportunities and advancement and income – quality of life.
The answer is blatantly obvious, the “brain drain” or skilled and other drain, and is self explanatory.
Hungary’s population continues to decline and become by applying a “mean” calculation formula, a population of an ageing society.
My Christmas gift to Hungary and what a time in our History to seriously consider and implement it into the current work force of Hungary.
Of greater importance, to the future thousands/millions of young Hungarians who will join the workforce in decades to come, what I recommend or propose will make a massive change to there lives and Hungary.
The time is NOW – that a Political Party in Hungary, should be investigating heavily into the mechanisms of SUPERANNUATION.
The opportunity NOW presents itself – for a progressive open minded Democratic Political Party – to spend time and money, and have SUPERANNUATION – as a major platform of there Policies in readiness for the 2022 National elections in Hungary.
I could write a disscertation or thesis on the broadsheet advantages of SUPERANNUATION – in a Democratic run and controlled systems of Government.
The example of a country that makes SUPERANNUATION work for its CITIZENS and for the Country is Australia.
My research on-going highlights, that if Australia since March 2020 have not “in-built” into its economic structure SUPERANNUATION, they as a country would have been “damaged and scared” greater than they have.
This is just one minute example of why SUPERANNUATION should be seriously under consideration by a Political Party in Hungary.
Australian Super – webpage, read of this companies size of funds contributions held and invested, there magnificent performance and returns paid to members, under the Laws of Superannuation in Australia.
It must be researched and Australia is a prime example of the ongoing growth and vibrancy – the positives to members and as a country SUPPERANNUATION continues to inject.
Market it correctly – Political Democratic correctness of its Benefits to the working citizens and future working citizens of Hungary – and it could be should be a massive cultural change, a motivational stimulus and incentive to Hungary and slow down the “brain drain” and contribute greatly to the future of our Country – the youth who represent the future of Hungary.
Don’t miss this new directional opportunity – whatever Democratic Political Party – it will attract because it WORKS.
Hamlyn – Harris comments totally correct.
If the Political Parties do not have a massive visionary focused plan for the youth and young in Hungary, those either in study or newly weds or whatever, they will in mass look for pastures greener than Hungary.
Superannuation, is a positive example to seriously research and hopefully introduce into Hungary.
Futuristic – 21st century thinking, planning and strategy introductions and implementations – must be urgently incorporated into Hungary, to minimize the continuing abandonment of the youth and young graduates – young professionally skilled trained and educated, from leaving Hungary.
Incentives to stay in Hungary – opportunities transparency being openly exposed and promoted to them, that “stirs” interest, that can or may convince them to built their careers and lives in Hungary.
Superannuation – crazy not for a Political Democratic Party in its core values – not to push this idea in there Political agenda – in particular, the 2022 National Elections in Hungary, what if they where elected Superannuation, what it can do – be proven it does – for the present and future generations of young Hungarians – the workers of Hungary.
Australia, adding to comments of a previous writer, excellent example of the multitude of benefits to the work force and a country Superannuation has to offer and provide.
There are other countries – Canada and within Europe – that do include in there Economic Political Structure – not called Superannuation, but they in effect operate and function in similar lines to what of those that does Superannuation – the goal being Retirement Savings.
Hungary – by vibrant presentation by a Democratic Political Party – introducing Superannuation – masterful idea.