The 2024 minimum wage will be paid to workers from December 2023.The minimum wage will increase by +15% in 2024 (in fact from December 2023) to HUF 266,800 gross.
The guaranteed minimum wage, i.e. the minimum wage for skilled workers, will be increased by +10% to HUF 326,000 gross.
Developments since 2020
- Increases in the gross minimum wage in recent years can be summarised as follows:
- In 2020: +8% (161,000 HUF gross/month) ;
- In 2021: +4% (167,400 HUF gross/month);
- In 2022: +19.5% (200,000 HUF gross/month);
- In 2023: +16% (232,000 HUF gross/month) ;
- In 2024: +15% (266,800 HUF gross/month).
Increase in net salary in 2024
Net salary corresponds to gross salary less personal income tax of 15% and employee social security contributions of 18.5%. In total, compulsory deductions therefore amount to 33.5% of gross salary, which means that net salary corresponds to 66.5% of gross salary.
In 2024, the gross minimum wage of HUF 266,800 gives a net minimum wage of HUF 177,422.
Minimum wage for part-time work
The gross minimum wage is calculated for a full-time job of 40 hours a week, or 8 hours a day.
For part-time work of 6 hours a day, the minimum wage in 2024 will therefore be HUF 200,100 gross per month.
For part-time work of 4 hours a day, this gives HUF 133,400 gross per month.
Guaranteed minimum wage for skilled workers
A worker is entitled to a guaranteed minimum wage instead of the minimum wage if he or she occupies a position that requires a diploma or professional qualification (it is not the individual’s education that counts, but the job description).
In 2024, the guaranteed minimum wage for qualified workers will be raised to HUF 326,000 gross per month.
The net guaranteed minimum wage corresponds to 66.5% of the gross wage, i.e. HUF 216,790 net/month.
European comparisons
The Hungarian minimum wage remains among the lowest in the European Union.
The minimum wage in Hungary in 2023 was 579 euros (this amount may be affected by fluctuations in the euro exchange rate), which is still lower than the minimum wage in neighbouring EU Member States:
- Slovakia: €700
- Romania: €606
- Croatia: €700
- Slovenia: €1203
- Austria does not have a minimum wage in the national sense of the term; wages are calculated on the basis of a different wage system.
Recent posts
