Real Wage Increase of 13.9 Percent Compared to March

In March 2024, the Hungarian Central Statistical Office reported that the average gross earnings of full-time employees reached HUF 658,400 (EUR 1,699), with net earnings, including discounts, averaging between HUF 452,700 – HUF 437,800 (EUR 1,168 and EUR 1,130), respectively, reports 24.hu.

This marks a 13.9% increase in average gross earnings, net earnings by 13.9% and 13.7%, and real earnings by 9.9% compared to the previous year, with inflation at 3.6%.

The median gross earnings were recorded at HUF 510,000 (EUR 1316), with median net earnings at HUF 354,500 (EUR 915), showing a 15.7% and 15.9% increase, respectively, compared to the same period in the previous year.

Furthermore, the average gross regular earnings (excluding bonuses and one-month special allowances) were estimated at HUF 598,400 (EUR 1544), a 14.9% increase from the previous year. Across different sectors, average regular gross earnings were HUF 598,900 in the business sector, HUF 588,800 (EUR 1,519) in the budget sector, and HUF 620,200 (EUR 1,600) in the non-profit sector, representing increases of 13.3%, 19.6%, and 18.8%, respectively.

For the period of January-March 2024, the average gross earnings of full-time employees stood at HUF 623,000.

Meanwhile, average net earnings were recorded at HUF 414,300 without discounts and HUF 428,800 (EUR 1,106) including discounts. Both gross and net average earnings, excluding discounts, increased by 14.2%, while net earnings, including discounts, increased by 14.0% compared to the same period last year.

Via 24.hu; Featured Image: Pixabay