A person working as a Financial Manager in Hungary typically earns around 2,490,000 HUF per month. Salaries range from 1,340,000 HUF (lowest) to 3,750,000 HUF (highest).
This is the average monthly salary including housing, transport, and other benefits. Financial Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Manager salaries in Hungary range from 1,340,000 HUF per month (minimum salary) to 3,750,000 HUF per month (maximum salary).
The median salary is 2,290,000 HUF per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 2,290,000 HUF while the other half are earning more than 2,290,000 HUF. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Financial Manager(s) are earning less than 1,630,000 HUF while 75% of them are earning more than 1,630,000 HUF. Also from the diagram, 75% of Financial Manager(s) are earning less than 2,780,000 HUF while 25% are earning more than 2,780,000 HUF.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Financial Manager salaries by experience level and this is what we found.
A Financial Manager with less than two years of experience makes approximately 1,560,000 HUF per month.
While someone with an experience level between two and five years is expected to earn 1,970,000 HUF per month, 26% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,600,000 HUF per month, 32% more than someone with two to five years of experience.
Additionally, Financial Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,050,000 HUF per month, 18% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 3,380,000 HUF per month, 11% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 3,600,000 HUF per month, 6% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+26%|
|5 - 10 Years||+32%|
|10 - 15 Years||+18%|
|15 - 20 Years||+11%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Financial Manager salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of a Financial Manager is 1,970,000 HUF per month.
While someone with a Bachelor's Degree gets a salary of 2,600,000 HUF per month, 32% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 3,560,000 HUF per month, 37% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Hungary costs anywhere from 6,390,000 Forint(s) to 19,200,000 Forint(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Financial Manager employees in Hungary earn 7% more than their female counterparts.
Financial Manager(s) in Hungary are likely to observe a salary increase of approximately 14% every 18 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Hungary for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Financial Manager is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
24% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 76% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Where can you get paid more, working for a private company or for the government? Public sector Financial Manager employees in Hungary earn 9% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+1%|
|Average Salary 2019||+2%|
Financial Manager salaries in Hungary are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Financial Manager is 100% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||725,000 HUF||-71%|
|Account Executive||1,160,000 HUF||-53%|
|Accounting Assistant||743,000 HUF||-70%|
|Accounting Associate||808,000 HUF||-68%|
|Accounting Clerk||599,000 HUF||-76%|
|Accounting Coordinator||651,000 HUF||-74%|
|Accounting Manager||1,650,000 HUF||-34%|
|Accounting Supervisor||1,120,000 HUF||-55%|
|Accounting Technician||704,000 HUF||-72%|
|Accounts Executive||1,010,000 HUF||-59%|
|Accounts Payable and Receivable Specialist||954,000 HUF||-62%|
|Accounts Payable Clerk||643,000 HUF||-74%|
|Accounts Payable Manager||1,300,000 HUF||-48%|
|Accounts Receivable Clerk||688,000 HUF||-72%|
|Accounts Receivable Manager||1,370,000 HUF||-45%|
|Assistant Accounting Manager||985,000 HUF||-60%|
|Assistant Auditor||915,000 HUF||-63%|
|Audit Supervisor||1,620,000 HUF||-35%|
|Auditing Clerk||819,000 HUF||-67%|
|Auditing Manager||1,690,000 HUF||-32%|
|Billing Coordinator||965,000 HUF||-61%|
|Billing Specialist||908,000 HUF||-63%|
|Billing Supervisor||1,160,000 HUF||-53%|
|Bookkeeping Specialist||805,000 HUF||-68%|
|Budget Analyst||987,000 HUF||-60%|
|Budget Manager||1,440,000 HUF||-42%|
|Business Support Analyst||1,120,000 HUF||-55%|
|Capital Markets Associate||1,280,000 HUF||-49%|
|Cash Flow Analyst||1,210,000 HUF||-51%|
|Cash Management Officer||1,130,000 HUF||-55%|
|Cashbook Clerk||734,000 HUF||-70%|
|Chartered Accountant||1,040,000 HUF||-58%|
|Collections Clerk||594,000 HUF||-76%|
|Collections Specialist||789,000 HUF||-68%|
|Corporate Treasurer||2,080,000 HUF||-16%|
|Cost Accountant||946,000 HUF||-62%|
|Cost Accounting Manager||1,260,000 HUF||-49%|
|Cost Analyst||1,190,000 HUF||-52%|
|Credit and Collection Manager||1,390,000 HUF||-44%|
|Credit and Collection Staff||703,000 HUF||-72%|
|Credit and Loans Officer||666,000 HUF||-73%|
|Credit Controller||1,170,000 HUF||-53%|
|Debt Adviser||1,530,000 HUF||-38%|
|Debt Collector||1,070,000 HUF||-57%|
|Debtors Clerk||898,000 HUF||-64%|
|Deputy CFO||2,080,000 HUF||-16%|
|Derivative Trader||1,660,000 HUF||-33%|
|Escrow Assistant||943,000 HUF||-62%|
|External Auditor||1,240,000 HUF||-50%|
|Finance Associate||948,000 HUF||-62%|
|Finance Executive||1,990,000 HUF||-20%|
|Finance Licensing Clerk||725,000 HUF||-71%|
|Finance Licensing Manager||1,160,000 HUF||-53%|
|Finance Licensing Specialist||909,000 HUF||-63%|
|Finance Officer||1,300,000 HUF||-48%|
|Finance President||2,410,000 HUF||-3%|
|Finance Relationship Manager||1,630,000 HUF||-34%|
|Finance Release Analyst||1,130,000 HUF||-55%|
|Finance Team Leader||1,260,000 HUF||-49%|
|Financial Actuary||1,210,000 HUF||-51%|
|Financial Administrator||1,030,000 HUF||-59%|
|Financial Analyst||1,270,000 HUF||-49%|
|Financial Applications Specialist||836,000 HUF||-66%|
|Financial Assistant||757,000 HUF||-70%|
|Financial Associate||846,000 HUF||-66%|
|Financial Claims Analyst||1,130,000 HUF||-55%|
|Financial Claims Manager||1,270,000 HUF||-49%|
|Financial Commercial Analyst||987,000 HUF||-60%|
|Financial Compliance Analyst||1,250,000 HUF||-50%|
|Financial Consultant||1,130,000 HUF||-55%|
|Financial Controller||1,160,000 HUF||-53%|
|Financial Coordinator||1,070,000 HUF||-57%|
|Financial Customer Service Manager||1,400,000 HUF||-44%|
|Financial Dealer and Broker||1,090,000 HUF||-56%|
|Financial Encoder||698,000 HUF||-72%|
|Financial Manager||2,490,000 HUF||+0%|
|Financial Operations Manager||1,730,000 HUF||-30%|
|Financial Policy Analyst||1,130,000 HUF||-55%|
|Financial Project Manager||1,130,000 HUF||-55%|
|Financial Quantitative Analyst||1,240,000 HUF||-50%|
|Financial Reporting Consultant||1,160,000 HUF||-53%|
|Financial Reporting Manager||1,370,000 HUF||-45%|
|Financial Services Sales Agent||1,030,000 HUF||-59%|
|Fixed Assets Administrator||973,000 HUF||-61%|
|Forensic Accountant||919,000 HUF||-63%|
|Fraud Detection Supervisor||1,090,000 HUF||-56%|
|Fraud Prevention Manager||1,660,000 HUF||-33%|
|Fund Accountant||849,000 HUF||-66%|
|Grants Coordinator||763,000 HUF||-69%|
|Internal Auditor||1,250,000 HUF||-50%|
|Internal Control Adviser||1,220,000 HUF||-51%|
|Internal Control Officer||1,030,000 HUF||-59%|
|Inventory Accountant||1,810,000 HUF||-27%|
|Investment Analyst||1,490,000 HUF||-40%|
|Investment Fund Manager||1,640,000 HUF||-34%|
|Investment Underwriter||733,000 HUF||-71%|
|Investor Relations Manager||1,420,000 HUF||-43%|
|KYC Team Leader||1,360,000 HUF||-45%|
|Management Economist||1,270,000 HUF||-49%|
|Payroll Clerk||675,000 HUF||-73%|
|Payroll Manager||1,150,000 HUF||-54%|
|Pensions Administrator||884,000 HUF||-64%|
|Pricing Analyst||1,250,000 HUF||-50%|
|Private Equity Analyst||1,270,000 HUF||-49%|
|Proposal Development Coordinator||869,000 HUF||-65%|
|Receivables Accountant||768,000 HUF||-69%|
|Regulatory Accountant||952,000 HUF||-62%|
|Retirement Plan Analyst||1,190,000 HUF||-52%|
|Revenue Management Specialist||998,000 HUF||-60%|
|Revenue Recognition Analyst||1,510,000 HUF||-39%|
|Risk Management Director||1,960,000 HUF||-21%|
|Risk Management Supervisor||1,500,000 HUF||-40%|
|Tax Accountant||869,000 HUF||-65%|
|Tax Advisor||1,170,000 HUF||-53%|
|Tax Associate||928,000 HUF||-63%|
|Tax Manager||1,800,000 HUF||-28%|
|Treasury Accountant||912,000 HUF||-63%|
|Treasury Analyst||1,310,000 HUF||-47%|
|Underwriting Assistant||637,000 HUF||-74%|
|Vice President of Finance||1,680,000 HUF||-32%|