Median wage up 14.3% in 2022

In 2022, the median salary, calculated on the basis of data from the Social Fund, was 40,368 rubles, a representative of Rosstat said. Compared to the previous year, the indicator increased by 14.3%. In addition, by 14.1% to 65,338 rubles. the average wage has increased.

The median wage characterizes the size of the actual average monthly wage, located exactly in the middle of the ranked payments.

“To put it simply, the median salary based on the data of the Social Fund, calculated in a company or organization employing 201 people, corresponds to the amount that the 101st employee received if all payments to all employees are ranked and arranged by increasing or decreasing the money received “, – explained in Rosstat.

In fact, the indicator divides into equal shares the number of those who receive wages above the bar set by them and those whose work is paid below it. If we take the example of Rosstat as a basis, then 100 employees (50%) earn more than 101, and another 100 employees (50%) earn less.

“In turn, the median wage, calculated on the basis of the data of the Social Fund, from 2021 is the basis for the Government’s approval of the minimum wage (minimum wage),” the statistics department added.

From January 1, 2023, the minimum wage is 16,242 rubles. During his address to the Federal Assembly, Russian President Vladimir Putin proposed from the beginning of 2024 to index the minimum wage by an additional 10% – up to 19,242 rubles.

At the end of May, Minister of Labor and Social Protection Anton Kotyakov announced that by 2030 the minimum wage would be 30% higher than the subsistence level, which is now 14,375 rubles.

In 2023-2024 There is no direct connection between the minimum wage and the median salary, said the author of the Solid Numbers Telegram channel, economist Elena Akhmedova. According to the law “On the minimum wage” of 12/19/2022. the rule that made them dependent was suspended for two years.

“The growth rate of the minimum wage [в этом и следующем году] tied to the growth rate of the subsistence minimum. And it, in turn, for 2023-2024. they also untied median incomes – now it is established directly in the law on the federal budget, ”the expert explained.

Thus, the minimum wage is more likely to depend on the rate of inflation, Akhmedova believes. Alexander Isakov, chief economist for Russia at Bloomberg Economics, in turn, believes that indexation will be envy of budget revenues.

“The equal growth in median and average wages suggests that wage inequality is likely not to have declined markedly in 2022. This was probably due to the fact that competition for employees began to grow only in the fourth quarter of 2022. The decrease in unemployment to current levels (3.3% – Vedomosti) is usually associated with a decrease in wage inequality – the difference in wages between employees and less experience and skill set usually grows at a catch-up pace,” he added.

Earlier, Vedomosti wrote that almost half (47.2%) of Russian families said they were not ready for unexpected expenses – for example, the cost of urgent treatment or unplanned repairs. This follows from the results of a comprehensive observation of the living conditions of the population, conducted by Rosstat in 2022. Compared to 2020 (the study is conducted every two years), the indicator slightly decreased – then 51.1% of households could not afford unforeseen expenses.