Hungary: two studies confirm heightened rate of pay rises among manual workers and managers

According to a study conducted by recruitment company Trenkwalder, based on the pay data of some 7,000 job candidates, the average gross hourly wage of manual and trained manual workers increased by more than 16% in the second quarter of this year compared to the same period in 2018. In the second quarter of 2018, the rise was only 14% compared to 2017. The average gross hourly wage of manual and trained manual workers was HUF 1,165 (€3.50) in the second quarter. The average hourly wage is well above HUF 1,100 (€3.33) in almost all regions of the country, but in Budapest and its surroundings it can reach or even exceed HUF 1,300-1,400 (€3.93-4.24). Viktor Hamrák, head of Trenkwalder Temporary Staffing Agency, says: “The dynamic increase may raise serious economic issues in some industries.” He adds: “The pace of wage increases in the coming periods depends primarily on how labour shortages unfold and what measures companies can take against the negative consequences.” Meanwhile another study of 500 middle managers in 60 companies, conducted by consulting and auditing firm BDO, shows growth of 5.1% in average wages compared to last year, which indicates a slight acceleration given that wage growth was 4.7% over the previous year-long period. BDO expects this trend to continue, on the one hand because of the higher inflation rate and on the other due to labour market tensions. Workers know that by changing jobs they can benefit from wage increases of between 20% and 30%.