Average Salary in Hungary 2022

How much does a Hungarian worker earn?

The average monthly wage in Hungary is 493,000 HUF for a full-time worker. The range of salaries is between 125,000 and 2,200,000 HUF.

It includes accommodation, transportation, and other perks in the monthly wage. Depending on a person’s field of work, salaries might vary greatly. For example, a software engineer earning 1.2 million HUF per month is at the top of the wage scale, while a manual laborer might only make 125,000 HUF.

The average salary has increased significantly in recent years, especially in the capital city of Budapest. Salaries in Hungary are on the rise and are expected to continue to grow in the coming years.

The minimum income in Hungary is currently 73,000 HUF per month. The government has plans to raise the minimum salary to 80,000 HUF by 2022.

Salary By City in Hungary

Budapest workers earn about 500,000 HUF and workers in Debrecen earn about 462,000 HUF per month on average. The average salary across all of Hungary is 455,874 HUF per month.

The cost of living in Hungary is relatively low compared to other Western European countries. For example, a meal at a restaurant will cost you about 2,500 HUF while a cappuccino costs around 450 HUF. A monthly public transport pass costs around 1,600 HUF.

If you are considering working in Hungary, it is important to be aware of the average salaries in the country. However, keep in mind that your actual salary may differ depending on your skillset and experience.

Hungary’s Standard Hourly Wage

In Hungary, the average hourly salary is 2,840 HUF. To put this into perspective, the typical Hungarian earns 2,840 HUF for every hour worked. The average hourly salary in Hungary is lower than the OECD average of 3,753 HUF.

However, salaries vary depending on the industry. For example, workers in the finance and insurance industry earn an average of 4,560 HUF per hour, while those in the accommodation and food services industry earn an average of 1,920 HUF per hour.

Hungary’s Wage Distribution

Salary Scale

A Hungarian monthly salary might vary from 125,000 to 2,200,000 HUF. The average salary in Hungary is 562,000 HUF per month.

The minimum wage in Hungary is currently 62,000 HUF per month.

The Hungarian government has been working on increasing the minimum wage in recent years. In January 2017, the minimum wage was raised to 62,000 HUF per month. This was a significant increase from the previous year’s minimum wage of 40,000 HUF per month. The government has said that it plans to raise the minimum wage again in 2018.

Average salary in Europe

For perspective, the average monthly rent for an apartment in Budapest is around 150,000 HUF. This means that someone working at minimum wage would have to spend around two-thirds of their salary on rent alone. Utilities (electricity, gas, water, etc.) can cost an additional 30,000-40,000 HUF per month.

The average salary in Hungary is 562,000 HUF per month. This puts Hungary in the middle of the pack when compared to other European countries. For example, the average monthly salary in Germany is 3,770 EUR (about 1,170,000 HUF), while the average monthly salary in Poland is 2,040 PLN (about 490,000 HUF).

Median Income

Half of the population (50%) earns less than 523,000 HUF per month, while the other half (50%) earns more than 523,000 HUF per month. The median income in Hungary is 523,000 HUF per month. This means that 50% of the population earns more than this amount, while the other 50% earns less than this amount.

The median income is a good measure of the average Hungarian salary because it is not affected by extreme values (high or low salaries). For example, if we looked at the average salary instead of the median salary, then a small number of high-earners would skew the results.

Percentiles

Only 25% of Hungarians make less than 291,000 HUF per year, whereas 75% make more than that. This means that the bottom 25% earn less than 291,000 HUF per year, while the top 75% earn more than that.

The highest-earning 25% of Hungarians make more than 877,000 HUF per month, while the lowest-earning 25% make less than 290,000 HUF per month.

Is there a difference between a person’s average and median income?

Both average salary and median salary are indicators. The median salary is the wage at which 50% of the population earns less and 50% earns more. Average salary, on the other hand, is calculated by adding up all salaries and dividing by the number of people. This means that a small number of high-earners can skew the results.

In Hungary, the average salary is 562,000 HUF per month, while the median salary is 523,000 HUF per month. This means that a small number of high-earners are skewing the average salary upwards.

If we look at percentiles, we can see that the lowest-earning 25% of Hungarians make less than 290,000 HUF per year, while the highest-earning 25% make more than 877,000 HUF per year. This shows that there is a large gap between the highest- and lowest-earning Hungarians.

In general, the median salary is a better indicator of the average Hungarian salary because it is not affected by extreme values (high or low salaries). However, both measures are useful for understanding wage distribution in Hungary.

Comparison of Earnings by Education Level in Hungary

Is there a correlation between education level and salary?

In order to compare earnings by education level, we first need to look at the data for educational attainment in Hungary.

The average salary in Hungary varies depending on the educational level attained. Those with no formal qualifications earn an average salary of HUF 161,000, while those who have completed tertiary education earn an average salary of HUF 546,000.

This difference is significant, and it is likely that those with higher levels of education also have better job prospects and are more likely to be employed in higher-paying occupations.

However, it is important to note that the cost of living in Hungary is relatively low, and so even those on lower salaries may be able to live comfortably. The average monthly rent for a one-bedroom apartment in Budapest, for example, is just over HUF 55,000.

In conclusion, there is a clear correlation between education level and salary in Hungary. Those with higher levels of education can expect to earn significantly more than those with no formal qualifications.

However, the cost of living in Hungary is relatively low, meaning that even those on lower salaries may be able to live comfortably.

Gender-Based Wage in Hungary

Across all industries, male workers in Hungary earn an average of 8% more than female employees. In the IT industry, this number is closer to 30%.

Women in Hungary are paid less than men in every industry, with the exception of healthcare. In fact, Hungarian women earn an average of 61% of what men do overall.

The gender pay gap is even larger when looking at specific job titles. For example, male CEOs in Hungary earn an average of 2.5 times more than their female counterparts.

Unfortunately, discrimination and sexism are still major issues in the Hungarian workforce. Women are often passed over for promotions and raise, and they are often assumed to be less competent than their male colleagues.

Comparison of Earnings based on Years of Employment

Over time, how does a Hungarian’s wage change?

In general, salaries in Hungary tend to increase with experience. For example, workers with 1-2 years of experience earn an average of 12% more than those who are just starting out in their careers. And by the time they reach 10-19 years of experience, they’re earning 23% more than entry-level employees.

Of course, there are exceptions to every rule. Some jobs pay less as you gain more experience (such as jobs in the hospitality industry). And some highly sought-after positions may offer a higher salary to candidates with less experience, simply because they’re hard to come by.

But in general, if you want to earn more money in Hungary, it pays to stick around for a while.

Hungarian Annual Compensation Increase Percentage

How much do Hungary’s yearly wage increases cost? How frequently are workers given raises?

In Hungary, salaries rise around 9% every 17 months. The majority of workers (55%) receive their raises every year. However, a significant minority of workers do not expect to get any salary increases in the next 12 months.

Workers in Hungary are more likely to get a raise when they ask for it. In fact, nearly two-thirds (64%) of workers who asked for a raise got one, compared to just 42% of those who did not ask.

Rate of Industry-Specific Growth in Hungary in 2022

  • Banking – 8%
  • Construction – 6%
  • Healthcare – 5%
  • Information Technology – 4%
  • Manufacturing – 3%

In Hungary, the average salary is expected to grow in most industries in 2022. The banking sector is expected to see the highest growth rate at 8%. Healthcare and construction are both projected to grow by 5%, while manufacturing and information technology are both forecasted to see 3% growth.

These figures show that despite some economic slowdown in recent years, Hungary is still a country with plenty of opportunity for wage growth.

Average Hungarian Pay Increase Rate by Level of Experience

In Hungary, junior-level workers earn about a 3-5% salary increase annually while senior-level executives can earn 10% or more.

The average salary in Hungary is expected to rise in 2022, with junior-level workers seeing the biggest increases. Senior-level executives can expect to see their salaries increase by 10% or more. With the cost of living in Hungary rising, these salary increases will help workers maintain their standard of living.

Hungary Bonuses and Incentives

When and how much money do Hungarian workers get in bonus payments?

Surveyed employees in Hungary reported receiving no bonuses or incentives in the last year, whereas 54% stated they got at least one sort of monetary compensation.

As a percentage of their yearly compensation, those who received bonuses reported rates of 2% – 7%. The most common bonus incentive in Hungary was an annual bonus, given to 26% of respondents. The second most popular type of bonus was a project/contract completion bonus, awarded to 13% of employees.

Bonuses for Employees

Individualized Performance-Based Bonuses

Employees who surpass their annual objectives or demonstrate exemplary behavior may receive an individualized performance-based bonus.

This type of bonus is typically a percentage of the employee’s salary and is distributed at the company’s discretion.

Bonuses for Business Performance

In some cases, companies will reward the entire company for meeting specific goals. This type of bonus is generally a set amount that is divided among team members. It is important to note that company performance-based bonuses are not always given out equally.

For example, team members who contributed more to the success of the project may receive a larger portion of the bonus than those who did not. Furthermore, these types of bonuses are usually given at the end of a project or quarter.

Goal-based Rewards

Another type of bonus that may be offered to employees is a goal-based reward. This type of bonus is given to employees who meet specific objectives that have been set by their company.

The amount of the bonus is generally based on how well the employee met the objective.

For example, if an employee was tasked with increasing sales by 10% and they were able to do so, they would likely receive a larger bonus than someone who only increased sales by 5%. Also, these types of bonuses are usually given out on a quarterly or annual basis.

Bonuses for the Holidays / Year’s End

In some cases, companies will offer bonuses to their employees during the holidays or at the end of the year. These types of bonuses are generally a set amount and are given to all employees.

Bonuses for Different Professions in Hungary

What makes a job worthy of good pay and benefits?

Different professions may be valued differently in various societies. The way a profession is regarded often reflects the role it plays in society and how essential it is to the functioning of that society.

For example, jobs that are considered essential to public safety or health are often better compensated than positions that are seen as less important.

In Hungary, many different professions are well-compensated. Some of these include doctors, lawyers, finance, and engineers. These professions typically require a great deal of training and education, and they often come with a high degree of responsibility.

Doctors, for instance, are responsible for the health and well-being of their patients, while lawyers must be able to navigate complex legal systems.

While there are many different high-paying professions in Hungary, there are also several positions that offer more modest salaries. Some of these include teachers, retail workers, and administrative assistants.

While these jobs may not be as high-paying as some others, they still provide individuals with the opportunity to earn a decent wage.

No matter what profession you choose, it is important to remember that salary is not the only factor that should be considered when determining whether or not a job is right for you. Other important factors to consider include job satisfaction, work/life balance, and company culture.

Comparison of Bonuses Based on Seniority Level in Hungary

Senior-level workers in Hungary are paid the highest bonuses, with an average bonus of HUF 109,976. By comparison, junior employees receive an average bonus of HUF 30,616.

The salary increment for senior-level workers is generally higher than that for junior employees. In Hungary, a worker with more than five years of experience can expect to earn an average total compensation (including bonuses) of HUF 2,196,857 per year. Those with fewer than five years of experience earn an average total compensation of HUF 1,392,285 per year.

Overall, the average bonus in Hungary is lower than the global average bonus. This is because Hungarian companies are more likely to reward their employees based on performance rather than seniority.

In terms of bonuses, senior-level workers in Hungary earn the highest bonuses, with an average bonus of HUF 109,976. By comparison, junior employees receive an average bonus of HUF 30,616. The salary increment for senior-level workers is generally higher than that for junior employees.

In Hungary, a worker with more than five years of experience can expect to earn an average total compensation (including bonuses) of HUF 2,196,857 per year. Those with fewer than five years of experience earn an average total compensation of HUF 1,392,285 per year. Overall, the average bonus in Hungary is lower than the global average bonus.

Pay For Popular Professions in Hungary

Banking

  • Bank Branch Manager – 803,000 HUF
  • Teller – 175,000 HUF

Law

  • Lawyer – 1,025,000 HUF

Information Technology

  • Project Manager – 1,186,000 HUF
  • Software Developer – 675,000 HUF

Business Planning

  • Business Analyst – 574,000 HUF
  • Business Development Manager – 700,000 HUF
  • Project Manager – 577,000 HUF

Healthcare / Medical

  • Doctor – 1,036,000 HUF
  • Dentist – 935,000 HUF
  • Nurse – 317,000 HUF
  • Surgeon – 1,280,000 HUF

Teaching

  • High School Teacher – 535,000 HUF
  • Professor – 700,000 HUF

Hungary Salary Comparison: Public Sector vs. Private Sector

Across all sectors, Hungarian public sector workers earn 9% more than their private-sector colleagues. Workers in the public sector in Hungary, on average, make 9% more than those in the private sector.

The highest-paid public servants are doctors and dentists, who earn 30% more than their counterparts in the private sector. The lowest-paid workers in the public sector are cleaners and janitors, who earn 8% less than those employed in the private sector.

The Hungarian government has been working to close the wage gap between the public and private sectors in recent years. In 2020, it introduced a new law that will gradually bring public sector salaries closer to those in the private sector. By 2022, the average salary in the public sector is expected to be just 3% higher than in the private sector.

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