Average salaries

Average salary in Russia

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TalentUp Team

🕔 15/02/2024
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Russia, the largest country in the world, is known for its rich history, diverse culture, and vast landscapes. Understanding the dynamics of average salaries, regional differences, common industries, and minimum wage regulations provides valuable insights for both job seekers and employers operating in Russia.

Average salary in Russia

As of 2024, the average salary in Russia stands at approximately 1,249,900 RUB per year (= €12,710). This figure reflects Russia’s diverse economy and the varying cost of living across different regions. However, to gain a comprehensive understanding of salary trends, it’s crucial to explore regional nuances, industry-specific data, and minimum wage regulations.

Regional variances and cost of living

Russia’s regional differences in salaries and cost of living offer diverse opportunities and lifestyles across the country:

  • Moscow and St. Petersburg. Moscow and St. Petersburg, as the two largest cities and economic centers of Russia, typically offer the highest average salaries, ranging from RUB 80,000 to RUB 100,000 per month. The cost of living in these cities is relatively high, especially in terms of housing and utilities. However, they also provide ample job opportunities across various sectors, attracting professionals from across the country.

  • Central Russia. Regions in central Russia, such as Tatarstan, Nizhny Novgorod, and Samara, present average salaries ranging from RUB 40,000 to RUB 60,000 per month. The cost of living in these areas is generally lower compared to Moscow and St. Petersburg, making them attractive for those seeking a more affordable lifestyle while still having access to urban amenities and job opportunities.

  • Siberia and the Far East. Siberia and the Far East, including cities like Novosibirsk, Vladivostok, and Khabarovsk, offer average salaries ranging from RUB 35,000 to RUB 50,000 per month. The cost of living in these regions can vary significantly depending on the city and its proximity to natural resources and economic development zones. While some areas may offer lower living costs, others may have higher expenses due to their remote location and harsh climate conditions.

  • Southern Russia. Southern regions such as Krasnodar Krai and Rostov-on-Don present average salaries ranging from RUB 35,000 to RUB 50,000 per month. The cost of living in these areas is generally moderate, with a mix of urban and rural lifestyles. These regions are known for their agricultural and industrial sectors, providing employment opportunities in manufacturing, agriculture, and tourism.

    • Minimum wage

    The minimum wage has been revised in Russia with effect from January 1, 2024. The federal minimum wage has changed from RUB 16,242 to RUB 19,242 per month. This figure reflects the government’s commitment to ensuring fair compensation for all workers and contributes to maintaining a decent standard of living across the country.

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    Common industries and salaries

    Diverse sectors and industries characterize Russia’s economy, each contributing to its overall economic growth:

  • Oil and gas. Russia is one of the world’s leading producers of oil and natural gas. Professionals in the oil and gas industry, including engineers and technicians, can expect average salaries ranging from RUB 70,000 to RUB 150,000 per month, depending on the role and level of expertise.

  • Manufacturing. Russia’s manufacturing sector encompasses industries such as automotive, aerospace, and machinery. Average salaries in manufacturing vary depending on the specific industry and skill level, ranging from RUB 30,000 to RUB 70,000 per month.

  • Finance and banking. Moscow, as the financial capital of Russia, attracts professionals in banking, finance, and investment. Salaries in these sectors are among the highest in the country, with senior executives and finance experts earning upwards of RUB 200,000 per month.

  • Information technology (IT). Russia has a growing IT sector, with hubs in Moscow, St. Petersburg, and Novosibirsk. Professionals in IT, including software developers and IT specialists, can expect average salaries ranging from RUB 50,000 to RUB 120,000 per month, depending on the role and level of expertise.

    • Understanding these regional differences, minimum wage regulations, and industry-specific salary trends is essential indeed for individuals navigating the Russian job market. Whether seeking opportunities in major cities or regional centers, individuals can make informed decisions based on their career aspirations, lifestyle preferences, and economic considerations.

    If you liked the article and are more interested in salary information, compensation and benefits packages, talent trends, and more… Check out our salary platform for free!

    Average salaries

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