In November 2023, the gross average salary of those employed full-time was HUF 621,200 (approx. 1657.75 EUR), and the net average salary calculated with allowances in mind was HUF 427,700 (approx. 1141.37 EUR). The gross average wage increased by 14.1 percent, the net average wage by 14.0 percent, and the real wage by 5.7 percent compared to a year earlier, the Central Statistical Office (KSH) reported on Tuesday.
The median value of gross earnings reached HUF 489,400, and the median value of net earnings reached HUF 338,500, which was 16.0 and 15.3 percent higher than in the same period of the previous year.
In November last year, the regular gross average earnings (without premiums, bonuses, or one-month special benefits) can be estimated at HUF 548,600, which is 14.3 percent higher than in the same period of the previous year. The regular gross average earnings in enterprises amounted to HUF 547,500, in the budget sector to HUF 539,100, and in the non-profit sector to HUF 587,200, rising by 14.2, 13.7, and 17.3 percent, respectively, in one year.
The net average earnings without discounts reached HUF 413,100 and HUF 427,700 with discounts, which was 14.1 and 14.0 percent higher than in November 2022, respectively.
Real earnings increased by 5.7 percent in addition to the 7.9 percent increase in consumer prices compared to the same period of the previous year.
The gross median earnings were HUF 489,400, 16.0 percent higher than a year earlier.
The median value of net earnings, calculated taking discounts into account, reached HUF 338,500, 15.3 percent higher than the same period of the previous year.
In January-November, the gross average salary of full-time employees was HUF 563,500. The net average earnings without discounts reached HUF 374,800, and HUF 388,500 with discounts taken into account.
The gross, net average earnings calculated without discounts, as well as the net earnings calculated taking into account the discounts, both increased by 14.0 percent compared to the same period of the previous year. 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 allowance. 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 1.5 percentage points higher.
In January-November, the gross average earnings of full-time employees at enterprises employing at least 5 people, budget institutions and non-profit organizations that are important for employment were HUF 581,300. The net average earnings without discounts reached HUF 386,600, with discounts taken into account of HUF 400,300.
The gross and average net earnings calculated without discounts, as well as the net earnings calculated with discounts, both increased by 14.0 percent compared to the same period of the previous year. The change in the average salary was influenced by the service allowance, equivalent to six months’ salary, paid to the national defense and law enforcement professional staff in February 2022, the weapon allowance. 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 1.6 percentage points higher.
(MTI)
