Monthly minimum wage in Russia and its major cities 2024

The monthly minimum wage in Russia as of January 1, 2024, amounted to 19,242 Russian rubles, or approximately 210 U.S. dollars using the exchange rate as of March 14, 2024. In the capital Moscow, it was set at 29,389 Russian rubles, or around 321 U.S. dollars. In the country's second-largest city, Saint Petersburg, it was slightly lower, at 25,000 Russian rubles. Starting from 2021, the minimum wage in Russia was calculated as 42 percent of the median wage. Between 2018 and 2020, it equaled to the minimum cost of living that was set in the country.

The poor and the rich in Russia

While around 10 million residents lived under the poverty line, Russia ranked sixth worldwide by the number of ultra-high-net-worth-individuals (UHNWIs), or persons whose wealth exceeded 50 million U.S. dollars. Russians earning the highest 20 percent of income accounted for approximately 47 percent of the total composite monetary income in 2021.

Regional disparities

The economic inequality was also observed across Russian federal subjects. The median monthly wage ranged from 19,000 Russian rubles in the Kabardino-Balkaria Republic to 78,000 Russian rubles in the Chukotka Autonomous Okrug between September 2018 and August 2019. Minimum wage thresholds can be regulated by regional authorities, as long as they are not lower than the federal minimum wage.