Average gross earnings HUF 564,400 in October 2023, 14.0% higher than a year earlier
Full-time employees’ average gross earnings were HUF 564,400 and average net earnings with tax benefits reached HUF 389,300 in October 2023. Average gross and net earnings both increased by 14.0% and real earnings by 3.7% compared with a year earlier.
October 2023:
Full-time employees’ average gross earnings were HUF 564,400, 14.0% higher than a year earlier.
Regular average gross earnings (without premiums and one-month bonuses) were estimated at HUF 540,200, being 14.5% higher than a year earlier. Regular average gross earnings amounted to HUF 545,000 in the business sector, HUF 517,300 in the budgetary sector and HUF 556,300 in the non-profit sector, rising by 14.9%, 12.1% and 15.8%, respectively, over a year.
Average net earnings reached HUF 375,300, excluding tax benefits and HUF 389,300, including them, both of which being 14.0% higher than in October 2022.
Real earnings were up by 3.7%, along with a 9.9% increase in consumer prices compared to the same period of the previous year.
Median gross earnings were HUF 456,300, being 14.4% above the level a year earlier.
Median net earnings including tax benefits reached HUF 318,300, surpassing the value for the same period of the previous year by 15.3%.
January–October 2023:
Full-time employees’ average gross earnings were HUF 557,800.
Average net earnings reached HUF 370,900, excluding tax benefits and HUF 384,600, including tax benefits.
Average gross earnings, average net earnings excluding tax benefits as well as net earnings including tax benefits increased equally by 14.0% compared to the same period of the previous year. The change in average earnings was affected by a service premium, the ‘firearms money’, for the army and the law enforcement personnel, corresponding to six-months’ salary and paid in February 2022. Without this effect, the growths in average gross earnings and in average net earnings including tax benefits would be 1.6 percentage points higher each.
Monthly average earnings
| Denomination | Average gross earnings | Average net earnings (excluding tax benefits) | ||
|---|---|---|---|---|
| HUF/person/month | change compared to corresponding period of previous year, % | HUF/person/month | change compared to corresponding period of previous year, % | |
| October 2023 | ||||
| Business sector | 573,500 | 14.4 | 381,400 | 14.4 |
| Budgetary institutions | 532,700 | 12.4 | 354,300 | 12.4 |
| Non-profit institutions | 563,600 | 14.4 | 374,800 | 14.4 |
| National economy, total | 564,400 | 14.0 | 375,300 | 14.0 |
| Of which: | ||||
| fostered workers | 115,100 | 15.7 | 76,500 | 15.7 |
| non-fostered workers | 573,800 | 14.0 | 381,600 | 14.0 |
| January–October 2023 | ||||
| Business sector | 569,400 | 16.7 | 378,700 | 16.7 |
| Budgetary institutions | 520,600 | 5.4 | 346,200 | 5.4 |
| Non-profit institutions | 547,400 | 12.8 | 364,000 | 12.8 |
| National economy, total | 557,800 | 14.0 | 370,900 | 14.0 |
| Of which: | ||||
| fostered workers | 115,700 | 15.8 | 76,900 | 15.8 |
| non-fostered workers | 567,100 | 13.7 | 377,100 | 13.7 |
January–October 2023:
Full-time employees’ average gross earnings at enterprises employing at least 5 persons, at budgetary institutions and at non-profit organisations that are significant in terms of employment were HUF 575,200.
Average net earnings reached HUF 382,500, excluding tax benefits and HUF 396,200, including tax benefits.
Average gross earnings and average net earnings excluding tax benefits both increased by 14.1% and 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 a service premium, the ‘firearms money’, for the army and the law enforcement personnel, corresponding to six-months’ salary and paid in February 2022. Without this effect, the growths in average gross earnings and in average net earnings including tax benefits would be 1.7 percentage points higher each.