Average gross earnings amount to HUF 655,600 in December 2023, 16.4% higher than a year earlier
Full-time employees’ average gross earnings were HUF 655,600 and average net earnings with tax benefits reached HUF 451,300 in December 2023. Average gross earnings grew by 16.4%, net earnings increased by 16.3% and real earnings were 10.3% higher than a year earlier.
In 2023, average gross earnings reached HUF 571,200, and average net earnings including tax benefits amounted to HUF 393,700. In 2023 both average gross earnings and net earnings including tax benefits rose by 14.2%, while real earnings decreased by 2.9% compared to 2022.
December 2023:
Full-time employees’ average gross earnings were HUF 655,600, 16.4% higher than a year earlier. The growth of the minimum wage and the minimum wage for skilled workers carried out in December 2023 contributed in the first place to the wage increase compared to the same period of the previous year.
Regular average gross earnings (without premiums and one-month bonuses) were estimated at HUF 565,400, being 17.3% higher than in the same period of the previous year. Regular average gross earnings amounted to HUF 570,700 in the business sector, HUF 532,700 in the budgetary sector and HUF 606,000 in the non-profit sector, rising by 18.1%, 13.3% and 19.9%, respectively, over a year.
Average net earnings reached HUF 435,900, excluding tax benefits and HUF 451,300, including them, being 16.4% and 16.3% higher than in December 2022.
Real earnings were up by 10.3%, along with a 5.5% increase in consumer prices compared to the same period of the previous year.
Median gross earnings were HUF 496,100, being 16.0% above the level a year earlier.
Median net earnings including tax benefits reached HUF 342,800, surpassing the value for the same period of the previous year by 15.3%.
January–December 2023:
Full-time employees’ average gross earnings were HUF 571,200.
Average net earnings reached HUF 379,800, excluding tax benefits and HUF 393,700, including tax benefits.
Average gross earnings, average net earnings excluding tax benefits as well as net earnings including tax benefits increased equally by 14.2% 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 1.3 percentage points higher each.
Real earnings decreased by 2.9%, along with a 17.6% increase in consumer prices compared to the same period of the previous year.
Median gross earnings were HUF 450,000, being 15.7% above the level a year earlier.
Median net earnings including tax benefits reached HUF 312,600, surpassing the value for the same period of the previous year by 15.9%.
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, % | |
| December 2023 | ||||
| Business sector | 669,700 | 15.6 | 445,300 | 15.6 |
| Budgetary institutions | 581,600 | 17.5 | 386,800 | 17.5 |
| Non-profit institutions | 724,900 | 20.2 | 482,100 | 20.2 |
| National economy, total | 655,600 | 16.4 | 435,900 | 16.4 |
| Of which: | ||||
| fostered workers | 133,200 | 31.6 | 88,600 | 31.6 |
| non-fostered workers | 666,600 | 16.3 | 443,300 | 16.3 |
| January–December 2023 | ||||
| Business sector | 582,400 | 16.2 | 387,300 | 16.2 |
| Budgetary institutions | 532,900 | 7.3 | 354,300 | 7.3 |
| Non-profit institutions | 569,000 | 14.0 | 378,400 | 14.0 |
| National economy, total | 571,200 | 14.2 | 379,800 | 14.2 |
| Of which: | ||||
| fostered workers | 117,200 | 17.2 | 77,900 | 17.2 |
| non-fostered workers | 580,800 | 14.0 | 386,200 | 14.0 |
January–December 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 589,100.
Average net earnings reached HUF 391,800, excluding tax benefits and HUF 405,600, including tax benefits.
Average gross earnings, average net earnings excluding tax benefits and net earnings including tax benefits increased equally by 14.2% 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 1.4 percentage points higher each.