Economy 27 August 2025, 9:21am

What slowdown?! Average gross wages in Hungary already at 700,000 forints

Portfolio

One surprise after another is coming in regarding the pace of wage growth in Hungary. While wages grew at a significantly slower pace in May, wage dynamics picked up again in June. Earnings are once again growing at a rate of close to 10%.

ipar termelés worker dolgozó gyártósor bérek keresetek

Since the beginning of this year, most bank analysts and research companies have been expecting Hungarian wage growth to slow down from its current level of close to 10%. The first four months of the year came as a big surprise to them, as rapid wage growth persisted. They had to wait until May, when the growth rate slowed to below 8%. Analysts then believed that there would be no acceleration for the rest of the year and that it would be good if the rate remained around 8%. However, the Hungarian Central Statistical Office's (KSH) recently published June data once again contradicted these expectations. In June,

gross average earnings were 9.7% higher than a year earlier, while net average earnings were 9.6% higher.

Avg gross earnings in the Hungarian economy

The average gross salary of full-time employees was HUF 704,400, while
the average net salary was HUF 484,200.

Many people expected a slowdown in wage growth because the economy is weak, the labor market is cooling, employment is declining slightly, and unemployment is rising. This could even have an impact on wage growth. It seems that these expectations are not being confirmed. The reason for this is undoubtedly that

the minimum wage and the guaranteed wage minimum have increased significantly this year, by 9% and 7% respectively, which not only affects the lowest wages but also influences wages at higher income levels (in order to avoid wage compression, everyone's wages must be raised substantially, up to the average wage).
At the same time, most companies are trying to retain their employees, as there is still a shortage of skilled workers. The period of economic crisis (extreme inflation) is still fresh in the minds of workers, who remain ready to jump ship if they receive a better salary offer.

Average wage and median wage
While two-thirds of workers earn less than the average, the median is the amount at which half of employees earn less and half earn more. The median gross income was HUF 567,700, while the median net income was HUF 395,000, exceeding the same period of the previous year by 10.3% and 10.5%, respectively.

With nominal wage growth approaching 10% again, real wages are also developing favorably. Real earnings rose by 4.8% after 3.3% in the previous month. This could also boost consumption in the coming months.