- Country Guide
- Hungary
Hungary
Last Update by Marta, 21 Nov 2024
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Exchange Rate
01 Dec 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) | 413,760 |
| 3 Bedrooms Rental (Outskirt) | 299,500 |
Current Inflation Rate
3.4%
Wage
Minimum Wages
- Minimal wage: 266,800 HUF per month
- Guaranteed wage: 326,000 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 |
| Rehabilitation Contribution | 200 100 HUF/month |
In the case of an organization employing 25 people, and the number of employees with disabilities does not reach 5% Paid for the number of disabled employees missing in the 5% limit |
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%
-
A tax resident is an individual who meets one of following criteria:
- Residence in Hungary for at least 183 days in a calendar year
- Have their centre of life interests in Hungary
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 250 overtime hours per calendar year
- 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
Payroll Currency
HUF
Probation
Maximum 3 months
Contract Period
No minimum duration
Termination
The contract may be terminated by the employer, the employee or by mutual agreement
If terminated by employer, the reason for termination in writing is mandatory
| Voluntary Resignation | Involuntary Termination | Economic Layoff | |
|---|---|---|---|
| Notice Period - Probation | No notice during probation | No notice during probation | No notice during probation |
| Notice Period - Regular | - 30 days notice | - 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 - above 20 years' service - 90 days | - 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 - above 20 years' service - 90 days |
| Severance Pay | - | - 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 | - 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://ertekvagy.hu/hu/-/rehabilitacios-hozzajarulas_2024
- 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: 21 Nov 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) | 413,760 |
| 3 Bedrooms Rental (Outskirt) | 299,500 |
Current Inflation Rate
3.4%
Wage
Minimum Wages
- Minimal wage: 266,800 HUF per month
- Guaranteed wage: 326,000 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 |
| Rehabilitation Contribution | 200 100 HUF/month |
In the case of an organization employing 25 people, and the number of employees with disabilities does not reach 5% Paid for the number of disabled employees missing in the 5% limit |
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%
-
A tax resident is an individual who meets one of following criteria:
- Residence in Hungary for at least 183 days in a calendar year
- Have their centre of life interests in Hungary
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 250 overtime hours per calendar year
- 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
The contract may be terminated by the employer, the employee or by mutual agreement
If terminated by employer, the reason for termination in writing is mandatory
| Voluntary Resignation | Involuntary Termination | Economic Layoff | |
|---|---|---|---|
| Notice Period - Probation | No notice during probation | No notice during probation | No notice during probation |
| Notice Period - Regular | - 30 days notice | - 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 - above 20 years' service - 90 days | - 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 - above 20 years' service - 90 days |
| Severance Pay | - | - 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 | - 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 |
Permanent
Probation
Maximum 3 months
Termination
The contract may be terminated by the employer, the employee or by mutual agreement
If terminated by employer, the reason for termination in writing is mandatory
| Voluntary Resignation | Involuntary Termination | Economic Layoff | |
|---|---|---|---|
| Notice Period - Probation | No notice during probation | No notice during probation | No notice during probation |
| Notice Period - Regular | - 30 days notice | - 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 - above 20 years' service - 90 days | - 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 - above 20 years' service - 90 days |
| Severance Pay | - | - 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 | - 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://ertekvagy.hu/hu/-/rehabilitacios-hozzajarulas_2024
- 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