From December 1, 2023, the gross amount of the minimum wage will rise to HUF 266,800, and the gross amount of the guaranteed minimum wage will increase to HUF 326,000.
Minimum Wage 2024
For full-time employees, the mandatory minimum amount of base salary (minimum wage) is expected to increase to a gross HUF 266,800 from December 1, 2023, which, without deductions, will be a net HUF 177,400.
For part-time employees, the minimum wage will be HUF 200,100 gross for 6-hour employment (HUF 133,400 gross for 4-hour employment).
Guaranteed Minimum Wage 2024
For full-time employees in positions requiring at least secondary education or vocational training, the determined guaranteed minimum wage will be HUF 326,000 gross from December 1, 2023.
The net amount of the 6-hour guaranteed minimum wage will be HUF 244,500 gross (HUF 163,000 gross for 4 hours).
For part-time employees, the determined monthly, weekly, and daily wages should be considered in an amount proportional to the working hours.
Changes in Minimum Wage and Guaranteed Minimum Wage Over the Past Years:
Year | Minimum Wage (HUF) | Guaranteed Minimum Wage (HUF) | Change in Minimum Wage(%) | Change in Guaranteed Minimum Wage (%) |
|---|---|---|---|---|
| 2024 | 266 800 | 326 000 | 15 | 10 |
| 2023 | 232 000 | 296 400 | 16 | 14 |
| 2022 | 200 000 | 260 000 | 19,47 | 18,72 |
| 2021 | 167 400 | 219 000 | 3,98 | 3,99 |
| 2020 | 161 000 | 210 600 | 8 | 8 |
| 2019 | 149 000 | 195 000 | 8 | 8 |
| 2018 | 138 000 | 180 500 | 8,2 | 12,1 |
| 2017 | 127 500 | 161 000 | 14,9 | 24,8 |
| 2016 | 111 000 | 129 000 | 5,7 | 5,7 |
As a result of the increase in the minimum wage, important benefits such as sick pay, Childcare Fee (GYED) and grandparental GYED, the upper limit of the GYED for graduates, tax benefits for those suffering from certain illnesses, the Home Care Fee for Children (GYOD),and the maximum amount of unemployment benefit will increase.
