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Hungary's average wage increases by 31.7% in one year

The average gross wage of full-time employees in February was HUF 546,000 (EUR 1,470).

The Central Statistical Office (KSH) said the average gross wage of full-time employees in February was HUF 546,000 (EUR 1,470), 31.7 percent higher than the same period a year prior. The jump in the average wage was largely linked to big salary increases for defence and law enforcement staff as well as minimum wage hikes. The gross average wage without bonuses or benefits was HUF 445,000, 14.5 percent higher than a year earlier, while net average pay increased by 31.7 percent to HUF 363,100. The median gross wage was HUF 378,100, 14.6 percent higher than a year earlier.

Sándor Bodó, state secretary for employment policy, said the outsized wage increase was largely due to growth in the minimum wage, that of the private sector and substantial hikes in the public sector. He said the steady rise in real wages over the past ten years was a testament to the government’s successful economic policy. Wages in the health sector began catching up with those in the infocommunications, financial and scientific and professional sectors, while thanks to the personal tax holiday for employees below the age of 25, average net incomes were 23.4 percent higher than at the beginning of 2021, Bodó said in a statement. Net earnings of an average family with two wages and a single child family grew by 147 percent over the past twelve years and by 158 percent for families with two children, he said. In light of the higher minimum wage and the tightening of the labor market, double-digit wage growth is also expected this year, the statement said.

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