Salaries are rising, but still lagging behind those in Western European countries.Continue reading
In July 2024, the average gross earnings of full-time employees were HUF 636,700 (EUR 1,750), while the average net earnings were HUF 438,400 (EUR 1,205).
Average gross earnings increased by 13.9 percent, net earnings by 13.7 percent, and real earnings by 9.4 percent compared to the previous year, with consumer prices rising 4.1 percent year-on-year, as reported by the Hungarian Central Statistical Office.
Overview of Average Net Monthly Earnings for Full-Time Employees in Budget and Competitive Sectors (HUF/month). Picture: MTI
The median gross earnings reached HUF 524,100 (EUR 1,473), and the median net earnings after discounts were HUF 362,900 (EUR 1,025), reflecting increases of 16.5 and 16.6 percent, respectively, compared to the same period last year.
In July, average gross regular earnings (excluding bonuses and one-time special allowances) were estimated at HUF 602,200 (EUR 1,610), up 14.3 percent year-on-year.
Regular gross earnings were HUF 598,800 (EUR 1,584) in the business sector, HUF 604,400 (EUR 1,593) in the budget sector, and HUF 629,600 (EUR 1,661) in the non-profit sector, which increased by 13.2, 17.0, and 18.2 percent, respectively.
Average net earnings, excluding discounts, were HUF 423,400 (EUR 1,155), a 13.9 percent increase from July 2023.
In the January-July period, average gross earnings for full-time employees were HUF 635,000 (EUR 1,747). Average net earnings without discounts were HUF 422,300 (EUR 1,116), while net earnings including discounts were HUF 437,100 (EUR 1,176).
Both gross and net average earnings excluding discounts rose by 14.0 percent, while net earnings including discounts increased by 13.8 percent compared to the same period last year.
Via MTI; Featured Image: Pixabay