Average gross earnings amounted to HUF 555,900 in August 2023, 15.2% higher than a year earlier
Full-time employees’ average gross earnings were HUF 555,900 in August 2023 and average net earnings with tax benefits reached HUF 383,500. Average gross earnings grew by 15.2%, average net earnings increased by 15.1%, while real earnings decreased by 1.0%, compared with a year earlier.
August 2023:
Full-time employees’ average gross earnings amounted to HUF 555,900, having risen by 15.2% compared with a year earlier.
Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) were HUF 528,500, being 14.1% higher than a year earlier. Regular average gross earnings reached HUF 531,100 in the business sector, HUF 518,300 in the budgetary sector, and HUF 531,600 in the non-profit sector, representing growths of 14.0%, 15.1% and 12.1%, compared to the previous year.
Average net earnings were HUF 369,700 excluding tax benefits and HUF 383,500 including them, being 15.2% and 15.1% higher than in August 2022.
Real earnings fell by 1.0%, along with a 16.4% increase in consumer prices compared to the same period of the previous year.
Median gross earnings reached HUF 450,000, surpassing the previous year’s value by 15.6%.
Median net earnings including tax benefits were HUF 312,300, surpassing the value for the same period of the previous year by 15.7%.
January-August 2023:
Full-time employees’ average gross earnings amounted to HUF 556,900.
Average net earnings were HUF 370,400, excluding tax benefits and HUF 384,000, including tax benefits.
Average gross earnings, average net earnings excluding tax benefits as well as net earnings including tax benefits rose equally by 14.0% compared to the same period of the previous year. The change in average earnings was affected by the last year’s February payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel corresponding to six-months salary. Without this effect the rise of the average gross earnings and that of average net earnings including tax benefits would be 2.0 percentage points higher.
Monthly average earnings
| Sector | Average gross earnings | Average net earnings (excluding tax benefits) | ||
|---|---|---|---|---|
| HUF/person/month | change compared to the corresponding period of the previous year, % | HUF/person/month | change compared to the corresponding period of the previous year, % | |
| August 2023 | ||||
| Business sector | 562 700 | 15.3 | 374 200 | 15.3 |
| Budgetary institutions | 532 700 | 14.8 | 354 300 | 14.8 |
| Non-profit institutions | 553 900 | 14.4 | 368 400 | 14.4 |
| National economy, total | 555 900 | 15.2 | 369 700 | 15.2 |
| Of which: | ||||
| fostered workers | 115 800 | 15.4 | 77 000 | 15.4 |
| non-fostered workers | 565 100 | 14.9 | 375 800 | 14.9 |
| January-August 2023 | ||||
| Business sector | 569 600 | 17.2 | 378 800 | 17.2 |
| Budgetary institutions | 517 100 | 3.8 | 343 900 | 3.8 |
| Non-profit institutions | 543 600 | 12.4 | 361 500 | 12.4 |
| National economy, total | 556 900 | 14.0 | 370 400 | 14.0 |
| Of which: | ||||
| fostered workers | 115 800 | 15.9 | 77 000 | 15.9 |
| non-fostered workers | 566 300 | 13.7 | 376 600 | 13.7 |
January-August 2023
Full-time employees’ average gross earnings at enterprises employing at least 5 persons, at budgetary institutions as well as at non-profit organisations that are significant in terms of employment amounted to HUF 574,500.
Average net earnings were HUF 382,000, excluding tax benefits and HUF 395,600, including tax benefits.
Both average gross earnings and average net earnings excluding tax benefits increased by 14.1%, net earnings including tax benefits rose by 14.0 % compared with the same period of the previous year. The change in average earnings was affected by the last year’s February payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel corresponding to six-months salary. Without this effect the rise of the average gross earnings and the average net earnings including tax benefits would be 2.1 percentage points higher.