Trenkwalder: The average hourly wage of manual workers will exceed 2,100 forints by the end of 2024
The average gross hourly wage of skilled and trained workers performing manual labor was HUF 2,130 by the end of the fourth quarter of 2024, a 9.1 percent increase compared to HUF 1,952 in the same period of the previous year, Trenkwalder and Moore Hungary told MTI on Tuesday.
Trenkwalder, which deals with labor leasing and mediation, processed the wage data of almost 7,000 employees. The announcement quotes Viktor Hamrák, Trenkwalder’s service director, who said that although the increase in manual hourly wages was single-digit during the calendar year, a one-time effect must also be taken into account in order to properly interpret the numbers: last year, the minimum wage increase was exceptionally brought forward by one month, so its effect was already reflected in December wages, and the current data is compared to a higher base.
He added that, after filtering out the one-off effect, their estimates show that the annual wage increase among manual workers was between 14-15 percent, which means that the real wage increase was around 10 percent.
They also discussed the geographical breakdown, according to which the average manual hourly wage will remain below 2,000 forints by the end of 2024 in three regions: Northern Hungary, the Northern Great Plain and Southern Transdanubia; in these areas, the value typically ranges between 1,750-1,900 forints. In the other regions, hourly wages between 2,050-2,250 forints are typical, but Central Hungary and the capital “spectacularly” stand out from the field: the average hourly wage is again approaching the 2,900 forint level, similar to the previous quarter.
At the same time, the consulting and auditing firm Moore Hungary examined the salary data of almost 500 middle managers working at the Hungarian subsidiaries of more than 60 international companies. For employees working in the monthly gross salary range between 800 thousand and 1.2 million forints, the salary increase was 9.6 percent on average in the fourth quarter of 2024 compared to the same period of the previous year.
Péter Hajnal, managing partner of Moore Hungary, pointed out in the announcement that last year, the annual salary settlement for intellectual middle managers typically took place in January, therefore the annual salary increase rate of close to ten percent means that the real salary increase in this salary category was 5-6 percent.
Related news
Employees crave inspiring spaces and community instead of bean bags and foosball tables
According to a recent study, 85 percent of people would…
Read more >Due to the tightening of EFO regulations in July, companies are even more open to employing students
The summer season is approaching, and the student job market…
Read more >Domestic companies are maneuvering amid increasing tensions
The average inflation in the euro area is around 2.5%,…
Read more >Related news
GVH President: The development of Hungarian language models is a matter of national sovereignty
Csaba Balázs Rigó, President of the Hungarian Competition Authority (GVH),…
Read more >DHL introduces monthly fee for businesses
Starting in July, online sellers who ship with DHL will…
Read more >