- Country Guide
- Hungary
Hungary
Last Update by Katie, 19 Jun 2024
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Exchange Rate
18 Sep 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
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
- https://www.numbeo.com/cost-of-living/in/Budapest
- http://eugo.gov.hu/doing-business-hungary/labour-law
- https://net.jogtar.hu/jogszabaly?docid=a1200001.tv
- https://www.lexology.com/library/detail.aspx?g=4db97f4f-d385-43d6-bc3c-660544ed589f&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2024-03-19&utm_term=
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Contact UsCountry Guide - Hungary
Last updated: 19 Jun 2024
Exchange Rate
Currency (HUF)
- 1 CNY = 0.185 HUF
- 1 USD = 1.32 HUF
Other currencies can be retrieved via the country guide link above.
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Labor Cost Calculator
To know the total employer cost for hiring a staff with certain salary, please go to our main site: https://marcopayroll.com
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
Fixed- Term
Used for staff shortages, replacing staff and high demand for services
Probation
Maximum 3 months
Termination
If terminated by employer, the reason for termination in writing is mandatory
-
Voluntary termination:
- 30 days notice -
Involuntary termination:
- 0-3 years' service - 30 days
- 3-5 years' service- 35 days -
Severance:
-3 years - 1 month
-5 years - 2 months
-If 1 year or less remains in the contract, employers compensate the salary until the contract end date
Permanent
Probation
Maximum 3 months
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
2024
| Date | Name |
|---|---|
2025
| Date | Name |
|---|---|
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
- https://www.numbeo.com/cost-of-living/in/Budapest
- http://eugo.gov.hu/doing-business-hungary/labour-law
- https://net.jogtar.hu/jogszabaly?docid=a1200001.tv
- https://www.lexology.com/library/detail.aspx?g=4db97f4f-d385-43d6-bc3c-660544ed589f&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2024-03-19&utm_term=
Contact Info
-
Singapore (Headquarters)
8 Marina Boulevard, MBFC Tower 1, #11-01, Singapore, 018981
+65 6653 4334 -
China (Headquarters)
79 Jianguo Road, China Central Place Tower 2, #09-52, Beijing, 100025
+86 10 6580 0555 -
China (Service Center)
23 Dagong Street, Eton Place Tower 2, Unit 1808, Dalian, 116001
-
United States
445 S Figueroa St, 31st Floor, Los Angeles, California, 90071
-
United Kingdom
71 - 75 Shelton Street, London, England GB
-
Netherlands
Vijzelstraat 68, 1017 HL, Amsterdam
-
Australia
Level 22, Salesforce Tower, 180 George Street, Sydney, NSW 2000