Average Gross Earnings at HUF 500,000 in July

Excluding fostered workers, it amounted to HUF 510,200.

Average net earnings were HUF 332,500 excluding tax benefits and HUF 344,700 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 15.3%. Average net earnings including tax benefits (as well as tax and contribution exemptions) grew by 16%, compared to the same period of the previous year, KSH noted.

Average gross regular earnings stood at HUF 465,700, being 14.8% higher than a year earlier.

Real earnings rose by 1.4%, along with a 13.7% year-on-year increase in consumer prices.

Gross median earnings reached HUF 400,900, surpassing the previous year’s value by 14.5%.

Net median earnings including tax benefits were HUF 279,400, 16.6% higher than in July of the previous year.

January-July Average Gross Earnings at HUF 504,500

Full-time employees’ average gross earnings amounted to HUF 504,500, excluding fostered workers to HUF 515,500 in January-July 2022.

Average net earnings reached HUF 335,500 excluding tax benefits and HUF 347,500 including them.

Both average gross earnings and average net earnings without tax benefits went up by 17.6%, while average net earnings including tax benefits grew by 18.3% year-on-year. The payment of the “service premium” (the so-called “firearms money”) in February for the army and the law enforcement personnel, corresponding to six-month salary, the planned wage raises in certain government branches, as well as the increase in the minimum wage and the minimum wage for skilled workers explain, in the first place, the outstanding growth.

The highest average gross earnings were recorded in the financial and insurance activities sections (HUF 855,300) and the lowest ones for accommodation and food service activities (HUF 314,300), KSH notes.

Average gross earnings amounted to HUF 553,100 for full-time male employees and to HUF 456,300 for full-time female employees, representing increases of 18,3% for males and 16,3% for females over a year.

Regular average gross earnings are estimated at HUF 457,300, being 14.7% higher than a year earlier.

Regular average gross earnings reached HUF 460,000 in the business sector, HUF 440,400 in the budgetary sector, and HUF 490,100 in the non-profit sector, representing growths of 13.2%, 14.6% and 33.1%, compared to the previous year. The reclassification of several educational institutions from the budgetary into the non-profit sector, following a change in their controlling authority in August 2021, contributed to the above-average increase in regular average earnings in the non-profit sector, as such a significant base effect is still present in the first semester of the year.

Real earnings rose by 6.9%, along with a 10% year-on-year increase in consumer prices.

Gross median earnings were HUF 392,700, surpassing the previous year’s value by 14.5%. Net median earnings including tax benefits were HUF 273,300, 16.4% higher than in the previous year.