In July 2023, the gross average salary of those employed full-time was HUF 559,100, and the average net salary calculated with allowances in mind was HUF 385,600. The gross average wage increased by 15.2 percent, the net average wage by 15.1 percent, and the real wage decreased by 2.0 percent compared to a year earlier, the Central Statistical Office (KSH) reported on Monday.
The regular gross average salary (without premium, bonus, one-month special allowance) can be estimated at HUF 526,800, which is 15.6 percent higher than a year earlier. The regular gross average earnings in enterprises amounted to HUF 529,000, in the budget sector to HUF 516,800, and in the non-profit sector to HUF 532,700, rising by 16.1, 14.7, and 12.5 percent, respectively, in one year.
The net average salary without discounts reached HUF 371,800 and with discounts 385,600, which was 15.2 and 15.1 percent higher than in July 2022, respectively. Real earnings decreased by 2.0 percent in addition to the 17.6 percent increase in consumer prices compared to the same period of the previous year. The gross median earnings were HUF 450,000, 16.3 percent higher than a year earlier. The median value of net earnings, calculated taking discounts into account, reached HUF 311,400, 15.9 percent higher than the same period of the previous year. In January-July, the gross average salary of full-time employees was HUF 557,100. The net average earnings without discounts reached HUF 370,500, and HUF 384,000 with discounts. The gross and average net earnings calculated without discounts were both 13.9 percent, while the net earnings calculated with discounts increased by 13.8 percent compared to the same period of the previous year.
In its report, KSH also reminded that the change in average earnings was influenced by the service allowance, equivalent to six months’ salary, paid to national defense and law enforcement professional staff in February 2022, the so-called weapon money. Filtering out the effect of this, the growth of the gross average earnings and the net average earnings calculated taking discounts into account would both be 2.2 percentage points higher. In the first seven months of the year, the gross average earnings of full-time employees at businesses employing at least 5 people, budget institutions and non-profit organizations that are significant for employment were HUF 574,700. The net average earnings without discounts reached HUF 382,200, and HUF 395,700 with discounts taken into account. The gross and average net earnings calculated without discounts, as well as the net earnings calculated with discounts, both increased by 13.9 percent compared to the same period of the previous year. The change in average earnings was also influenced by the service allowance, equivalent to six months’ salary, paid to national defense and law enforcement professional staff in February 2022, the so-called weapon money. Filtering out the effect of this, the growth of the gross average earnings and the net average earnings calculated taking discounts into account would both be 2.5 percentage points higher, the KSH announced.
MTI
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