A person working as a Chief Financial Officer in Hungary typically earns around 2,570,000 HUF per month. Salaries range from 1,210,000 HUF (lowest) to 4,060,000 HUF (highest).
This is the average monthly salary including housing, transport, and other benefits. Chief Financial Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Financial Officer salaries in Hungary range from 1,210,000 HUF per month (minimum salary) to 4,060,000 HUF per month (maximum salary).
The median salary is 2,720,000 HUF per month, which means that half (50%) of people working as Chief Financial Officer(s) are earning less than 2,720,000 HUF while the other half are earning more than 2,720,000 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 Chief Financial Officer(s) are earning less than 1,770,000 HUF while 75% of them are earning more than 1,770,000 HUF. Also from the diagram, 75% of Chief Financial Officer(s) are earning less than 3,590,000 HUF while 25% are earning more than 3,590,000 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 Chief Financial Officer salaries by experience level and this is what we found.
A Chief Financial Officer with less than two years of experience makes approximately 1,390,000 HUF per month.
While someone with an experience level between two and five years is expected to earn 1,920,000 HUF per month, 38% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,730,000 HUF per month, 42% more than someone with two to five years of experience.
Additionally, Chief Financial Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,330,000 HUF per month, 22% 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 3,520,000 HUF per month, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 3,830,000 HUF per month, 9% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+38%|
|5 - 10 Years||+42%|
|10 - 15 Years||+22%|
|15 - 20 Years||+6%|
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 Chief Financial Officer salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Chief Financial Officer is 1,720,000 HUF per month.
While someone with a Certificate or Diploma gets a salary of 2,010,000 HUF per month, 17% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 2,920,000 HUF per month, 45% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 3,830,000 HUF per month, 31% more than someone with Bachelor's Degree.
|Certificate or Diploma||+17%|
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 Chief Financial Officer employees in Hungary earn 10% more than their female counterparts.
Chief Financial Officer(s) in Hungary are likely to observe a salary increase of approximately 15% every 17 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 Chief Financial Officer 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.
16% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 84% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% 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 Chief Financial Officer employees in Hungary earn 9% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+3%|
|Average Salary 2019||+3%|
Chief Financial Officer 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 3% 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 Chief Financial Officer is 48% more than that of Executive and Management. Also, Executive and Management salaries are 36% more than those of All Jobs.
|Job Title||Average Salary|
|Account Coordinator||1,090,000 HUF||-58%|
|Administration Manager||1,360,000 HUF||-47%|
|Area Manager||1,290,000 HUF||-50%|
|Asset Protection Associate||1,440,000 HUF||-44%|
|Assistant Director||1,440,000 HUF||-44%|
|Assistant Manager||1,430,000 HUF||-44%|
|Assistant Operations Manager||1,630,000 HUF||-37%|
|Assistant Project Manager||1,360,000 HUF||-47%|
|Assistant Section Head||1,130,000 HUF||-56%|
|Assistant to CEO||1,350,000 HUF||-47%|
|Assistant Vice President||1,550,000 HUF||-40%|
|Associate Director||1,470,000 HUF||-43%|
|Bid Manager||1,600,000 HUF||-38%|
|Branch Manager||1,600,000 HUF||-38%|
|Business Development Manager||1,770,000 HUF||-31%|
|Business Operations Associate||1,470,000 HUF||-43%|
|Business Operations Lead||1,510,000 HUF||-41%|
|Campaign Manager||1,570,000 HUF||-39%|
|Chairman of The Board||2,740,000 HUF||+7%|
|Chairman Office Manager||1,800,000 HUF||-30%|
|Chief Corporate Officer||2,230,000 HUF||-13%|
|Chief Executive Officer||2,790,000 HUF||+9%|
|Chief Financial Officer||2,570,000 HUF||+0%|
|Chief of Staff||1,280,000 HUF||-50%|
|Chief Operating Officer||1,960,000 HUF||-24%|
|Chief Risk Officer||1,760,000 HUF||-31%|
|Client Services Manager||1,820,000 HUF||-29%|
|Commercial Project Manager||1,410,000 HUF||-45%|
|Commodity Broker||1,080,000 HUF||-58%|
|Corporate Affairs Executive||1,530,000 HUF||-40%|
|Corporate Compliance Director||1,800,000 HUF||-30%|
|Corporate Director||1,890,000 HUF||-26%|
|Corporate Officer||1,290,000 HUF||-50%|
|Corporate Partnerships Officer||1,240,000 HUF||-52%|
|Country Manager||2,190,000 HUF||-15%|
|Deputy Director||1,950,000 HUF||-24%|
|Director of Accreditation||1,820,000 HUF||-29%|
|Director of Catering Services||1,640,000 HUF||-36%|
|Director of Client Services||1,740,000 HUF||-32%|
|Director of Facilities Management||1,500,000 HUF||-42%|
|Director of Operations||1,820,000 HUF||-29%|
|Director of Process Simplification||1,480,000 HUF||-42%|
|Director of Project Management||1,950,000 HUF||-24%|
|Director of Revenue Management||1,720,000 HUF||-33%|
|Director of Training and Development||1,750,000 HUF||-32%|
|Distribution Manager||1,870,000 HUF||-27%|
|Division Manager||1,610,000 HUF||-37%|
|Duty Manager||1,540,000 HUF||-40%|
|Engagement Manager||1,830,000 HUF||-29%|
|Executive Director||2,680,000 HUF||+4%|
|Executive Manager||2,180,000 HUF||-15%|
|Franchise Manager||2,260,000 HUF||-12%|
|General Manager||2,120,000 HUF||-17%|
|Global Master Data Manager||1,900,000 HUF||-26%|
|Head of Middle Office||1,750,000 HUF||-32%|
|Head of Projects||1,870,000 HUF||-27%|
|Head of Sustainability||1,560,000 HUF||-39%|
|Housing Manager||1,440,000 HUF||-44%|
|HSE Manager||1,430,000 HUF||-44%|
|Key Account Manager||1,510,000 HUF||-41%|
|Knowledge Manager||1,790,000 HUF||-30%|
|Location Manager||1,660,000 HUF||-35%|
|Logistics Manager||1,410,000 HUF||-45%|
|Management Consultant||1,430,000 HUF||-44%|
|Management Executive||2,030,000 HUF||-21%|
|Managing Director||2,170,000 HUF||-16%|
|MIS Executive||1,760,000 HUF||-31%|
|Ocean Services Manager||1,800,000 HUF||-30%|
|Operations Assistant||1,330,000 HUF||-48%|
|Operations Director||2,080,000 HUF||-19%|
|Operations Executive||1,990,000 HUF||-23%|
|Operations Manager||2,070,000 HUF||-19%|
|Operations Supervisor||1,620,000 HUF||-37%|
|Policy Administration Executive||1,500,000 HUF||-42%|
|Private Sector Executive||1,650,000 HUF||-36%|
|Product Development Manager||1,840,000 HUF||-28%|
|Product Executive||1,590,000 HUF||-38%|
|Production Executive||1,810,000 HUF||-30%|
|Production Manager||1,880,000 HUF||-27%|
|Production Supervisor||1,540,000 HUF||-40%|
|Program Manager||1,940,000 HUF||-24%|
|Programme Coordinator||1,240,000 HUF||-52%|
|Project Control Manager||1,800,000 HUF||-30%|
|Project Coordinator||1,140,000 HUF||-56%|
|Project Management Officer||1,260,000 HUF||-51%|
|Project Manager||1,350,000 HUF||-47%|
|Project Portfolio Manager||1,420,000 HUF||-45%|
|Quality Manager||1,450,000 HUF||-44%|
|R/D Director||1,580,000 HUF||-38%|
|Regional Director||2,460,000 HUF||-4%|
|Regional Manager||1,950,000 HUF||-24%|
|Relationship Manager||1,770,000 HUF||-31%|
|Retail District Manager||1,240,000 HUF||-52%|
|Revenue Manager||1,390,000 HUF||-46%|
|Risk and Capital Manager||1,970,000 HUF||-23%|
|Risk Officer||1,320,000 HUF||-49%|
|Safety Manager||1,290,000 HUF||-50%|
|Section Head||1,430,000 HUF||-44%|
|Service Manager||1,470,000 HUF||-43%|
|Shift Supervisor||1,160,000 HUF||-55%|
|Solutions Manager||1,330,000 HUF||-48%|
|Supply Chain Manager||1,970,000 HUF||-23%|
|Technical Manager||1,650,000 HUF||-36%|
|Territory Manager||1,790,000 HUF||-30%|
|Validation Manager||1,500,000 HUF||-42%|
|Vice President||2,150,000 HUF||-16%|
|Zone Manager||1,850,000 HUF||-28%|