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Chief Financial Officer Average Salary in Hungary 2020

How much money does a Chief Financial Officer make in Hungary?


Average Monthly Salary
2,570,000 HUF
( 30,800,000 HUF yearly)

LOW
1,210,000
HUF
AVERAGE
2,570,000
HUF
HIGH
4,060,000
HUF

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 Salary Distribution in Hungary

Median and salary distribution monthly Hungary Chief Financial Officer
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The median, the maximum, the minimum, and the range

  • Salary Range

    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).

  • Median 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.

  • Percentiles

    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.


What is the difference between the median and the average salary?

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

Chief Financial Officer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Hungary Chief Financial Officer
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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.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

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.


Chief Financial Officer average salary change by experience in Hungary

0 - 2 Years
1,390,000 HUF
2 - 5 Years+38%
1,920,000 HUF
5 - 10 Years+42%
2,730,000 HUF
10 - 15 Years+22%
3,330,000 HUF
15 - 20 Years+6%
3,520,000 HUF
20+ Years+9%
3,830,000 HUF
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Chief Financial Officer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Chief Financial Officer(s) who have the same experience but different education levels.

Salary comparison by education level monthly Hungary Chief Financial Officer
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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.


Chief Financial Officer average salary difference by education level in Hungary

High School
1,720,000 HUF
Certificate or Diploma+17%
2,010,000 HUF
Bachelor's Degree+45%
2,920,000 HUF
Master's Degree+31%
3,830,000 HUF
Percentage increase and decrease are relative to the previous value

Is a Master's degree or an MBA worth it? Should you pursue higher education?

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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Chief Financial Officer Salary Comparison By Gender

Salary comparison by gender monthly Hungary Chief Financial Officer
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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.

Female
2,450,000 HUF
Male+10%
2,710,000 HUF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Hungary for all Careers

Salary comparison by gender monthly Hungary
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Chief Financial Officer Average Annual Salary Increment Percentage in Hungary

How much are annual salary increments in Hungary for Chief Financial Officer(s)? How often do employees get salary raises?

Chief Financial Officer

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.

Annual Salary Increment Rate Hungary Chief Financial Officer
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Hungary / All Professions

Annual Salary Increment Rate Hungary
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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.

How to calculate the salary increment percentage?

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

The average salary increase in one year (12 months) in Hungary is 6%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

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.


Worldwide Salary Raises: All Countries and All Jobs

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Chief Financial Officer Bonus and Incentive Rates in Hungary

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Hungary Chief Financial Officer
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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.

Received Bonus
84%
No Bonus
16%

Types of Bonuses Considered

Individual Performance-Based Bonuses

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.

Bonuses Are Not Commissions!

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.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting 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.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Hungary
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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.

Private Sector
1,230,000 HUF
Public Sector+9%
1,340,000 HUF
Percentage increase and decrease are relative to the previous value

Chief Financial Officer Salary Trend and Forecast in Hungary

How are Chief Financial Officer salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Hungary Chief Financial Officer
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Average Salary 2016
2,260,000 HUF
Average Salary 2017+4%
2,340,000 HUF
Average Salary 2018+3%
2,420,000 HUF
Average Salary 2019+3%
2,500,000 HUF
Percentage increase and decrease are relative to the previous value

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.

Chief Financial Officer Average Hourly Wage in Hungary


14,800 HUF per hour

The average hourly wage (pay per hour) in Hungary is 14,800 HUF. This means that the average Chief Financial Officer in Hungary earns approximately 14,800 HUF for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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.

Chief Financial Officer VS Other Jobs

Salary Comparison Between Chief Financial Officer and Executive and Management monthly Hungary
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Coordinator1,090,000 HUF-58%
Administration Manager1,360,000 HUF-47%
Area Manager1,290,000 HUF-50%
Asset Protection Associate1,440,000 HUF-44%
Assistant Director1,440,000 HUF-44%
Assistant Manager1,430,000 HUF-44%
Assistant Operations Manager1,630,000 HUF-37%
Assistant Project Manager1,360,000 HUF-47%
Assistant Section Head1,130,000 HUF-56%
Assistant to CEO1,350,000 HUF-47%
Assistant Vice President1,550,000 HUF-40%
Associate Director1,470,000 HUF-43%
Bid Manager1,600,000 HUF-38%
Branch Manager1,600,000 HUF-38%
Business Development Manager1,770,000 HUF-31%
Business Operations Associate1,470,000 HUF-43%
Business Operations Lead1,510,000 HUF-41%
Campaign Manager1,570,000 HUF-39%
Chairman of The Board2,740,000 HUF+7%
Chairman Office Manager1,800,000 HUF-30%
Chief Corporate Officer2,230,000 HUF-13%
Chief Executive Officer2,790,000 HUF+9%
Chief Financial Officer2,570,000 HUF+0%
Chief of Staff1,280,000 HUF-50%
Chief Operating Officer1,960,000 HUF-24%
Chief Risk Officer1,760,000 HUF-31%
Client Services Manager1,820,000 HUF-29%
Commercial Project Manager1,410,000 HUF-45%
Commodity Broker1,080,000 HUF-58%
Corporate Affairs Executive1,530,000 HUF-40%
Corporate Compliance Director1,800,000 HUF-30%
Corporate Director1,890,000 HUF-26%
Corporate Officer1,290,000 HUF-50%
Corporate Partnerships Officer1,240,000 HUF-52%
Country Manager2,190,000 HUF-15%
Deputy Director1,950,000 HUF-24%
Director2,100,000 HUF-18%
Director of Accreditation1,820,000 HUF-29%
Director of Catering Services1,640,000 HUF-36%
Director of Client Services1,740,000 HUF-32%
Director of Facilities Management1,500,000 HUF-42%
Director of Operations1,820,000 HUF-29%
Director of Process Simplification1,480,000 HUF-42%
Director of Project Management1,950,000 HUF-24%
Director of Revenue Management1,720,000 HUF-33%
Director of Training and Development1,750,000 HUF-32%
Distribution Manager1,870,000 HUF-27%
Division Manager1,610,000 HUF-37%
Duty Manager1,540,000 HUF-40%
Engagement Manager1,830,000 HUF-29%
Executive Director2,680,000 HUF+4%
Executive Manager2,180,000 HUF-15%
Franchise Manager2,260,000 HUF-12%
General Manager2,120,000 HUF-17%
Global Master Data Manager1,900,000 HUF-26%
Head of Middle Office1,750,000 HUF-32%
Head of Projects1,870,000 HUF-27%
Head of Sustainability1,560,000 HUF-39%
Housing Manager1,440,000 HUF-44%
HSE Manager1,430,000 HUF-44%
Key Account Manager1,510,000 HUF-41%
Knowledge Manager1,790,000 HUF-30%
Location Manager1,660,000 HUF-35%
Logistics Manager1,410,000 HUF-45%
Management Consultant1,430,000 HUF-44%
Management Executive2,030,000 HUF-21%
Manager1,860,000 HUF-28%
Managing Director2,170,000 HUF-16%
MIS Executive1,760,000 HUF-31%
Ocean Services Manager1,800,000 HUF-30%
Operations Assistant1,330,000 HUF-48%
Operations Director2,080,000 HUF-19%
Operations Executive1,990,000 HUF-23%
Operations Manager2,070,000 HUF-19%
Operations Supervisor1,620,000 HUF-37%
Policy Administration Executive1,500,000 HUF-42%
Private Sector Executive1,650,000 HUF-36%
Product Development Manager1,840,000 HUF-28%
Product Executive1,590,000 HUF-38%
Production Executive1,810,000 HUF-30%
Production Manager1,880,000 HUF-27%
Production Supervisor1,540,000 HUF-40%
Program Manager1,940,000 HUF-24%
Programme Coordinator1,240,000 HUF-52%
Project Control Manager1,800,000 HUF-30%
Project Coordinator1,140,000 HUF-56%
Project Management Officer1,260,000 HUF-51%
Project Manager1,350,000 HUF-47%
Project Portfolio Manager1,420,000 HUF-45%
Quality Manager1,450,000 HUF-44%
R/D Director1,580,000 HUF-38%
Regional Director2,460,000 HUF-4%
Regional Manager1,950,000 HUF-24%
Relationship Manager1,770,000 HUF-31%
Retail District Manager1,240,000 HUF-52%
Revenue Manager1,390,000 HUF-46%
Risk and Capital Manager1,970,000 HUF-23%
Risk Officer1,320,000 HUF-49%
Safety Manager1,290,000 HUF-50%
Section Head1,430,000 HUF-44%
Service Manager1,470,000 HUF-43%
Shift Supervisor1,160,000 HUF-55%
Solutions Manager1,330,000 HUF-48%
Supervisor1,100,000 HUF-57%
Supply Chain Manager1,970,000 HUF-23%
Surveyor1,220,000 HUF-53%
Technical Manager1,650,000 HUF-36%
Territory Manager1,790,000 HUF-30%
Validation Manager1,500,000 HUF-42%
Vice President2,150,000 HUF-16%
Zone Manager1,850,000 HUF-28%

Salary Comparison By City

CityAverage Salary
Budapest2,850,000 HUF
Debrecen2,550,000 HUF
337500 - 1

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