Hungary

Last Update by Katie, 19 Jun 2024

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Exchange Rate

23 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Budapest

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (HUF)
McDonalds Set Meal 3,000
Monthly Train and Bus Tickets 9,500
3 Bedrooms Rental (City Center) 403,952
3 Bedrooms Rental (Outskirt) 293,573

Current Inflation Rate

3.7%

Wage

Minimum Wages

  • Minimal wage: 232,000 HUF per month
  • Guaranteed wage: 294,400 HUF per month - In case of full-time staff hired for jobs requiring secondary school qualifications or secondary vocational qualifications

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (HUF)
Entry-Level
Fresh Graduate
400,000
Mid-Level
5 Years
500,000
Experienced & Managerial Level
10 Years
700,000
Specialized & Senior-Level
15 Years
1,000,000

Annual Salary Growth

14.2%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Social Contribution 13% - All staff
Pension Fund - 10% All staff
Unemployment Fund - 1.50% All staff
Health Care - 7% All staff

Income Tax

Residents

  • Flat rate - 15%

Non-residents

  • Depends on the double taxation agreement between countries. Typically, only income originating in Hungary is taxed - 15%

Working Hours

Statutory

40 hours
8 hours a day, 5 days a week

Typical practice

40 hours
Monday - Friday

Overtime

There is a limit of total 72 hours of work per week

  • 150% of basic salary rate on normal working day
  • 200% of basic salary rate on weekends and public holidays

Employment Contract

Permanent

Contract Format

Written, in Hungarian

Payroll Currency

HUF

Probation

Maximum 3 months

Contract Period

No minimum duration

Termination

  • Voluntary termination:
    - 30 days notice
  • Involuntary termination:
    - 0-3 years' service- 30 days
    - 3-5 years' service - 35 days
    - 5-8 years' service - 45 days
    - 8-10 years' service - 50 days
    - 10-15 years' service - 55 days
    - 15-18 years' service - 60 days
    - 18-20 years' service - 70 days
    - Over 20 years' service - 90 days
  • Severance:
    - 3 years' service - 1 month salary
    - 5 years' service - 2 months salary
    - 10 years' service- 3 months salary
    - 15 years' service- 4 months salary
    - 20 years' service - 5 months salary
    - 25 years' service - 6 months salary

Public Holiday

11 days

Country Level

Date Name
01 Jan New Year's Day
15 Mar 1848 Revolution Memorial Day
29 Mar Good Friday
01 Apr Easter
01 May Labor Day
20 May Whit Monday
20 Aug Saint Stephen's Day
23 Oct Republic Day
01 Nov All Saints' Day
25 Dec - 26 Dec Christmas Day

Leave

Leave Type Entitlement Notes
Annual Leave 20 working days - up to 25 years old
21 days - 25 years old
22 days - 28 years old
23 days - 31 years old
24 days - 33 years old
25 days - 35 years old
26 days - 37 years old
27 days - 39 years old
28 days - 41 years old
29 days - 43 years old
30 days - 45+ years old
All Staff under 25-increasing by 1 working day in specific age categories
Sick Leave Up to 1 year All staff employed and covered by social security
Maternity Leave - 26 consecutive weeks - Expectant mothers or staff legally granted as guardians through court judgments
Parental Leave 44 working days All staff with 1 years' continuous service and children up to the age of 3
Paternity Leave 10 working days Expectant fathers for the birth of a child including death and stillborn children

Reference

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