Russia’s 2024 Median Salary Growth Was The Highest Since 2018

The Russian salary growth rate in 2024 was the highest in the past six years amid increased competition for potential workers. Overall, the median salary offered in Russia increased by 18%, from ₽65,400 in January 2024 to ₽77,200 in January 2025, according to Maria Ignatova of the Human Resources analytical agency HH Help.

That equates to an average salary throughout Russia of about US$908. In skilled professions and in tier one cities this will be far higher. The average salary for example in Moscow is US$1,200.

The most significant increases in Russian salaries were in the insurance industry (+34%) and financial investments, and consulting (+25%). Salaries in tourism and catering, for administrative personnel, in sales and customer service increased by more than 20%.

However, according Ignatova, the financial capabilities of businesses, especially against the backdrop of the current high interest rates, are exhaustible, meaning that in 2025, wage growth will continue, but its pace will slow down. The current situation with the shortage of personnel in specific professions will largely determine those who will continue to grow.

Ignatova said that “Right now, these are blue-collar, production professions — they are the ones who will most likely have salary growth rates above the market and inflation, while for the mass of personnel in trade, logistics, and the service sector, salary growth will most likely be at the level of or slightly above inflation.”

HH Help conducted a survey of employers in November-December 2024, which showed that last year, 58% of Russian companies raised salaries for their employees. In 33% of companies, salaries remained unchanged and in 6% only did they decrease. 3% of respondents found it difficult to answer.

During 2025, 63% of Russian employers surveyed have stated that their company will increase employee salaries over the year, while 42% believe that the growth will be within the official inflation rate.

Dmitry Kulikov, a Senior Director of the Sovereign and Regional Ratings Group at ACRA has stated that during 2025, the growth of average Russian nominal wages is forecast at 12–14%, which corresponds to a real growth (GDP) rate of between 3–6%.