Minimum wage increase will push the entire wage scale up in 2025

By: Trademagazin Date: 2024. 11. 27. 11:56

As the end of the year approaches, employees are also increasingly impatient to see if they can expect a pay rise next year. Pay planning processes are currently underway, and in many workplaces, the final decision on what agreement will be reached will be made during the annual performance evaluation. In addition, employee needs are constantly changing, which poses new challenges for employers in terms of recruitment and retention of existing employees.

All this is made even more urgent by the three-year wage agreement that was recently reached, which envisages a 9% and 7% minimum wage increase – which is guaranteed to affect the earnings of those with higher salaries. What trends and prospects are emerging by the end of the year, and how should you prepare for them? An expert from the Humán Centrum HR service group will help you navigate the above issues.

Minimum wage hike pushes entire wage scale up in 2025

Employee organizations and employers have reached an agreement on the minimum wage hike for next year: from January 1, 2025, the mandatory minimum wages will increase by 9% and 7%, respectively. This will increase the minimum wage to HUF 290,800 gross, and the guaranteed minimum wage (commonly known as the “skilled worker minimum wage”) to HUF 348,800 gross. Accordingly, the net minimum wage without tax benefits will be HUF 193,382, while the skilled worker minimum wage will be HUF 231,952 net per month.

“The goal of raising the minimum wage is to bring those with lower incomes up to average wages, which will undoubtedly affect higher wage categories as well, and will move the entire wage scale upwards. The minimum wage always serves as a kind of benchmark, and it generally strengthens the bargaining position of employees who receive higher salaries,”

emphasized Dénes Rajmund Roland, CEO of Humán Centrum. He added that this could also lead to wage tension, as employees with higher incomes will also try to maintain the previously existing distance from the minimum wage.
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