The title could be: “Yearly Salary Increase Surpasses Thirteen Percent”
Average Salaries in Hungary See Significant Increase in 2024
In August 2024, the Central Statistical Office (KSH) announced that the gross average salary for full-time employees in Hungary was HUF 628,800 (EUR 1,567), with the net average salary reaching HUF 433,100 (EUR 1,007). This marked a 13.1 percent increase in gross average wage, a 12.9 percent increase in net average wage, and a 9.4 percent increase in real wage compared to the previous year.
The median values for gross earnings were HUF 520,000 (EUR 1,295) and for net earnings were HUF 360,100 (EUR 897), showing a 15.6 percent and 15.3 percent increase respectively compared to the same period in the previous year.
Regular gross average earnings in August, excluding premiums and bonuses, were estimated at HUF 601,300, reflecting a 13.8 percent increase from the previous year. The sectors with the highest regular gross average earnings were enterprises at HUF 600,800, the budget sector at HUF 596,800, and the non-profit sector at HUF 619,700, all seeing significant increases ranging from 13.1 to 16.6 percent.
Throughout the year, the average net salary without discounts was HUF 418,100, a 13.1 percent increase from August 2023. Real earnings also saw a 9.4 percent increase, in addition to a 3.4 percent rise in consumer prices compared to the previous year.
From January to August, the gross average salary for full-time employees was HUF 634,300, with net average earnings without discounts reaching HUF 421,800 and HUF 436,600 with discounts. Both gross and net earnings without discounts showed a 13.9 percent increase, while net earnings with discounts saw a 13.7 percent rise compared to the same period in the previous year.
Overall, the data reflects a positive trend in salary growth in Hungary, with significant increases across various sectors and categories. This upward trajectory bodes well for the country’s economic landscape and the financial well-being of its workforce.
