Hungary’s average gross earnings reach HUF 695,100 in November 2024, up 11.9% YoY

In November 2024, full-time employees in Hungary saw their average gross earnings reach HUF 695,100, reflecting an 11.9% increase compared to the same period in 2023. Meanwhile, average net earnings, including tax benefits, stood at HUF 478,000, up by 11.8% year-on-year, according to recent data. Adjusted for inflation, real earnings increased by 7.9%, driven by a 3.7% rise in consumer prices.

Regular gross earnings, which exclude premiums and one-off bonuses, were recorded at HUF 613,700—also reflecting an 11.9% growth over the previous year. Sector-specific figures show that the business sector reported regular gross earnings of HUF 609,500 (up 11.3%), the budgetary sector HUF 613,000 (up 13.7%), and the non-profit sector HUF 657,100 (up 11.9%).

The median gross earnings for the month reached HUF 550,800, surpassing the previous year’s level by 12.5%, while median net earnings, including tax benefits, rose by 13.3% to HUF 383,400.

For the period from January to November 2024, average gross earnings stood at HUF 639,500, while net earnings excluding tax benefits were HUF 425,200, and HUF 440,200 with tax benefits included. Compared to the same period in 2023, average gross earnings and net earnings (excluding tax benefits) increased by 13.5%, and net earnings (including tax benefits) rose by 13.3%.

The consistent growth in earnings reflects the country’s economic resilience and wage growth trends, with increases observed across various sectors.