Minimum wage and guaranteed minimum wage from 2023
The mandatory minimum amount of basic pay (minimum wage) changes in an unusual way during the year – from December 1st, 2023.
The minimum wage from the December 1st of 2023
- HUF 266 800 for monthly wages
Guaranteed minimum wage for an employee in a job requiring at least secondary education or training
- HUF 326 000 for monthly wages
Beginning from December 1st of 2023.
The required qualifications for each job may be determined primarily by legislation. If there is no statutory qualification requirement for a particular job; it may be set by collective agreement for larger employers or by the employer itself for smaller employers. For example, there is no statutory minimum level of education for the post of managing director/CEO.
In our opinion; the FEOR list published by KSH is not a statutory qualification requirement, but rather a statistical classification. KSH prepares and issues the FEOR list on the basis of the relevant legislation; but it is not part of the legislation.