Hungary is located in the central part of Europe, is landlocked and borders seven countries – Slovakia, Ukraine, Romania, Serbia, Croatia, Slovenia and Austria. The population is about 9.6 million people. Hungary has been a member of the European Union for 17 years (since 2004), but is not the most successful member of this association, including in terms of wages.
Nevertheless, Hungary has a stable political and socio-economic situation, large international companies operate here and foreigners have a good chance of finding a well-paid job. Applicants from third countries should take into account that Hungarians and EU citizens have priority rights to employment. Next, we’ll find out what the salary is in Hungary in 2023.
Minimum salary in Hungary
According to the Hungarian government, the official minimum wage in Hungary in 2023 is 232,000 forints ($690) per month for unskilled labor (basic rate) and 296,400 forints ($880) per month for skilled labor. Compared to last year, the minimum wage in Hungary increased by 32,000 forints or 16% – from 200,000 forints to 232,000.
Basic minimum salary in Hungary:
- 232,000 forints per month
- 53,580 forints per week
- HUF 10,716 per day
- HUF 1,339 per hour
Guaranteed minimum wage in Hungary*:
- 296,400 forints per month
- 68,360 forints per week
- 13,672 forints per day
- HUF 1,709 per hour
* Note . The guaranteed minimum wage in Hungary is paid to workers who have at least a school certificate or a vocational secondary education diploma.
Over the past 5 years, the minimum wage in Hungary has increased by 94,000 forints, meaning that in 2018, Hungarians received a minimum of 138,000 forints per month.
Average salary in Hungary
According to official data from the Hungarian Central Statistical Office, the average salary in Hungary in 2023 is 531,200 forints per month , which is equivalent to 1,575 US dollars at current exchange rates. After paying taxes, Hungarian workers have 366,400 forints ($1,085) left at their disposal. Compared to the same period last year (January-December), the average salary in Hungary increased by 0.8%.
AVERAGE SALARY IN HUNGARY (FORINTS PER MONTH)
- Business sector – 542,300 (gross)/360,600 (net)
- Budgetary institutions – 496,600 (gross)/330,200 (net)
- Non-profit institutions – 519,300 (gross)/345,400 (net)
The highest incomes in Hungary are recorded in the information and communications sector (912,500 forints), and the lowest in the accommodation and food services sector (348,200 forints). Taking into account inflation for 2022 of 25.4% compared to the same period last year, real wages in Hungary decreased by 19.6%. The average net gross earnings of Hungarians was HUF 362,600 excluding tax benefits and HUF 375,500 including tax benefits.
| Economic sphere | HUF per month | Dollars per month |
| Information and communication | 912 500 | 2 705 |
| Financial and insurance activities | 809 400 | 2 400 |
| Supply of electricity, gas, steam and air conditioning | 758 800 | 2 250 |
| Professional, scientific and technical activities | 679 100 | 2,015 |
| Mining | 589 600 | 1 750 |
| Public Administration and Defense | 587 800 | 1,745 |
| Health and social work | 584 600 | 1,735 |
| Production | 557 600 | 1 655 |
| Arts, entertainment and recreation | 505 300 | 1 500 |
| Transportation and storage | 499 800 | 1 480 |
| Wholesale and retail trade | 494 700 | 1 465 |
| Education | 489 800 | 1 450 |
| Water supply, sewerage and waste management | 463,000 | 1 375 |
| Real estate transactions | 449 200 | 1 330 |
| Administrative and support services | 447,000 | 1 325 |
| Construction | 409,000 | 1 215 |
| Fisheries, Agriculture and Forestry | 394 800 | 1 170 |
| Accommodation and meals | 348 200 | 1,030 |
| other services | 413 700 | 1 225 |
In conclusion, we note that the unemployment rate in Hungary does not exceed 4–5%, and the income tax rate in 2023 is 15%, which is one of the lowest in the European Union.