Wages may be paid in cash, or by way of transfer to the employee's bank account. If you are interested in the salary of a particular job, see below for salaries for specific job titles. Furthermore, many states have enacted or proposed legislation to gradually increase the minimum wage by increments over the next several years to reach a specific wage. Per Hour: Per Day: Per week: Per month: Minimum Wage Minimum wage with effect from January 1, 2020 Minimum wage with effect till December 31, 2020 Minimum Wages - last checked - 12/31/19. In this forum the employees' and the employers' side has reached an agreement on the growth of minimum wage and guaranteed wage minimum. It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? Thus no worker, whether local or foreigner, can be paid less than the announced minimum wage. One such relevant contravention is the failure to pay minimum wage rates. In 2020, the national minimum wage in Hungary remained fixed at 487.1 € per month, that is 5,845 euros per year, taking into account 12 payments per year. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Employment Protection. Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience. VKF has representation from Government side, workers side (Független Szakszervezetek Demokratikus Ligája-LIGA Szakszervezetek, Magyar Szakszervezetek Országos Szövetsége –MSZOSZ, and Munkástanácsok Országos Szövetsége) and employer side (Általános Fogyasztási Szövetkezetek és Kereskedelmi Társaságok Országos Szövetsége -ÁFEOSZ-Coop Szövetség, KÉSZ, Munkaadók és Gyáriparosok Országos Szövetsége-MGYOSZ, and Vállalkozók és Munkáltatók Országos Szövetsége -VOSZ). When I went for the interview, the owner could not speak English. The median represents the middle salary value. Skilled workers will now receive a monthly minimum wage of 200.000 HUF (around 520 euros), up from the current 180.500 forints. Whereas in the past even the best-paid student jobs equalled the minimum wage, the average student wage is now 630-640 forints (EUR 2) and as high as 740-750 forints in Budapest, the paper said. Companies within thriving industries tend to provide higher and more frequent raises. The figure set by the Fair Work Commission excludes the mandatory superannuation-contribution of about 9.5% of an employee’s annual wages. Wages in the United States averaged 11.58 USD/Hour from 1964 until 2020, reaching an all time high of 25.12 USD/Hour in April of 2020 and a record low of 2.50 USD/Hour in February of 1964. If your salary is higher than both of the average and the median then you are doing very well. In Hungary, the level of wages is very low on average, and consequently part-time workers' earnings are even worse. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary. Percentage increase and decrease are relative to the previous value. Hungary Taiwan Portugal Czech Republic Israel Greece Singapore Chart 1. These salaries are valid not only for Budapest, but also nationwide. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.