Over 45 thousand individuals in Russia are receiving income exceeding 1 million rubles
High-Income Workers Shift Sectors in Russia
A recent study by the Financial University under the Government of the Russian Federation has revealed a significant change in the distribution of high-income workers in Russia. According to the findings, the middle class, defined by income and lifestyle criteria, now includes more professionals from construction, industry, and IT sectors.
In 2023, most of the high-income earners, those earning more than 1 million rubles per month, were employed in sectors such as information and communication, trade, manufacturing, and financial and insurance companies. However, the study did not provide specific numbers for each sector.
The shift in sectoral distribution can be attributed to substantial wage growth in these fields. This growth has enabled workers to afford private vehicles, regular travel, and higher-quality goods, indicating improved income distribution among employees in these sectors.
While the wholesale and retail trade sectors still lead in labor productivity (with a labor productivity index of 105.8% in 2023), mineral extraction ranks lower. Income inequality remains a challenge overall in Russia, influenced by regional disparities and sectoral differences, but moderate improvements have been noted since 2021.
As of April 2023, the Statistics Service reported that 24,400 people in Russia earned more than 1 million rubles per month. The number of people in this income bracket has nearly doubled compared to a previous year, with 5,301 Russians earning more than 3 million rubles per month and 5,728 people receiving a salary between 2 million and 3 million rubles per month.
However, the text does not provide information on the inflation rate or the purchasing power of the ruble in relation to the income figures mentioned. Furthermore, the study did not cover the total number of workers in each sector or the total number of working Russians.
Looking ahead, the average desired income of Russians in 2025 is projected to be 146,000 rubles, according to the same study. This suggests a continued focus on improving living standards and income distribution across various sectors in Russia.
[1] Source: Financial University under the Government of the Russian Federation [2] Source: Rosstat (Russian Federal State Statistics Service) [3] Source: World Bank [4] Source: OECD (Organisation for Economic Co-operation and Development)
The shift in high-income employment sectors in Russia observed in 2023 has involved professionals from various industries, including construction, IT, and now also the finance sector. As a consequence, the socio-economic landscape of Russia is transforming, with increased financial resources allowing workers to invest in personal vehicles, travel, and better quality goods.
