Average Hungarian Salary Reaches 341,000 Forints Net Per Month
According to the latest figures released by the Hungarian Central Statistical Office (KSH), the average net salary in Hungary, after accounting for tax benefits, amounted to 416,600 forints, with the gross median wage at 493,700 forints and the net median wage, including tax benefits, reaching 341,700 forints.
In January 2024, the gross average wage for full-time employees stood at 605,100 forints, as reported by the KSH in its Thursday morning press release.
The estimated regular gross average wage, excluding bonuses, premiums, and one-off benefits, was 578,300 forints, marking a 15 percent increase compared to the same period in the previous year. In the private sector, the regular gross average wage was approximately 576,700 forints, showing a 14.1 percent rise. Within the budgetary and nonprofit sectors, salaries amounted to 576,200 and 599,400 forints respectively, with increments calculated at 17.6 and 16.7 percent.
When excluding tax benefits, the net average wage experienced a 14.6 percent upsurge, and with benefits taken into account, saw a 14.5 percent boost compared to January 2023, arriving at 402,400 forints and 416,600 forints respectively. Considering a 3.8 percent inflation rate, the real wage has increased by 10.4 percent.
Furthermore, the gross median wage also witnessed a significant 16.9 percent increase from the year prior, reaching 493,700 forints in January. The net median salary, when considering tax benefits, escalated to 341,700 forints, a 16 percent rise compared to the same period in the previous year.
The estimated regular gross average wage, excluding bonuses, premiums, and one-off benefits, was 578,300 forints, marking a 15 percent increase compared to the same period in the previous year. In the private sector, the regular gross average wage was approximately 576,700 forints, showing a 14.1 percent rise. Within the budgetary and nonprofit sectors, salaries amounted to 576,200 and 599,400 forints respectively, with increments calculated at 17.6 and 16.7 percent.
When excluding tax benefits, the net average wage experienced a 14.6 percent upsurge, and with benefits taken into account, saw a 14.5 percent boost compared to January 2023, arriving at 402,400 forints and 416,600 forints respectively. Considering a 3.8 percent inflation rate, the real wage has increased by 10.4 percent.
Furthermore, the gross median wage also witnessed a significant 16.9 percent increase from the year prior, reaching 493,700 forints in January. The net median salary, when considering tax benefits, escalated to 341,700 forints, a 16 percent rise compared to the same period in the previous year.
Translation:
Translated by AI
