Average gross earnings amounted to HUF 291,400
In October 2017, average gross earnings amounted to HUF 295,800, 12.8% higher than a year earlier. In January–October 2017, average gross earnings amounted to HUF 291,400. In the first ten months of the year, both gross and net earnings grew to the same extent, by 12.8% compared to the same period of the previous year. Rises of 15% in the minimum wage and 25% in the guaranteed minimum wage as well as salary adjustments affecting specific areas of the public sector and the employees of state owned public service companies had an impact on earnings growth.
In October 2017:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 295,800 at corporations employing at least 5 persons, budgetary and designated non-profit institutions.
Average net earnings by national concept were HUF 196,700 excluding family tax benefits and HUF 204,600 including them.
Both gross earnings and net earnings grew by 12.8% compared to the same period of the previous year.
In January–October 2017:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 291,400 at corporations employing at least 5 persons, budgetary and designated non-profit institutions.
Average gross earnings were the highest in financial and insurance activities (HUF 556,700) and the lowest in human health and social work activities (HUF 181,400).
A part of employees at budgetary institutions and non-profit organisations – about 107 thousand persons – received a compensation not belonging to wages and salaries for changes in taxes. The average amount of the compensation was HUF 8,800 at budgetary institutions and HUF 8,500 at non-profit institutions.
Average net earnings – excluding family tax benefits – were HUF 193,800 by national concept. In 2017, the family tax benefits rose in case of families with two children, which had an effect on the amount and change of net earnings. Taking into account family tax benefits, average net earnings are estimated to be HUF 201,600.
Monthly average gross wages and salaries according to the SNA concept amounted to HUF 305,400, which were 12.5% higher than a year earlier. Within this indicator, the share of other wages and salaries was 4.6% on the average.
Both gross earnings and net earnings grew to the same extent, by 12.8% compared to the previous year.
Along with the 2.4% rise in consumer prices compared to the same period of the previous year, real earnings increased by 10.2%.
Regular gross earnings (gross earnings without premiums and one-month bonus) increased slightly less than average gross earnings, by 12.7%.
Average monthly earnings, January–October 2017
| Sector | Total | Without fostered workers | ||
|---|---|---|---|---|
| average earnings, HUF | change compared to the corresponding period of the previous year, % | average earnings, HUF | change compared to the corresponding period of the previous year, % | |
| Gross earnings | ||||
| Business sector | 303 400 | 11.5 | 304 500 | 11.3 |
| Budgetary institutions | 269 600 | 16.0 | 311 100 | 13.4 |
| Non-profit institutions | 251 300 | 10.7 | 273 700 | 10.0 |
| National economy total | 291 400 | 12.8 | 305 000 | 11.7 |
| Of which: | ||||
| fostered workers | 81 600 | 3.6 | x | x |
| Net earnings | ||||
| Business sector | 201 800 | 11.5 | 202 500 | 11.3 |
| Budgetary institutions | 179 300 | 16.0 | 206 900 | 13.4 |
| Non-profit institutions | 167 100 | 10.7 | 182 000 | 10.0 |
| National economy total | 193 800 | 12.8 | 202 800 | 11.7 |
| Of which: | ||||
| fostered workers | 54 300 | 3.6 | x | x |