More than half of employers in Russia’s domestic market, according to a survey of 440 companies, plan to raise salaries in the near term. The sectors most frequently cited include information technology, construction, and real estate. The findings come from an analysis by HeadHunter, cited by the business daily Vedomosti. In addition, 56 percent of the respondents said they would increase the payroll budget to fund higher pay, while just 3 percent indicated plans to reduce wage costs. The takeaway is clear: a sizable portion of Russian firms are adjusting compensation upward to attract and retain talent, with a subset prepared to trim compensation in weaker segments of the economy.
Specifically, the report notes that more than half of employers intend to boost salaries in 2023. About one in two companies expects payrolls to rise by 5 to 15 percent, and a small minority—3 percent—foresees salary cuts. The data suggests a broad effort to align wages with market realities, especially in competitive sectors and regions where skilled labor is in high demand. These trends reflect concerted actions by managers to sustain productivity and staff morale amid ongoing economic changes.
In another dimension, nearly two-thirds of firms whose leadership signals included wage reductions anticipate lowering not only salaries but also bonuses by 5 to 15 percent. The planning and adjustment described here appears particularly pronounced in retail trade and financial technology firms, according to the accompanying note. These movements underline how compensation strategies are being used to balance cost containment with the need to retain critical expertise.
On May 30, Izvestia reported results from a study conducted by the Russian School of Management and the PlanFact financial accounting service. The survey found that a substantial majority of small business representatives, 74.1 percent, began paying higher wages and bonuses this year. The emphasis across these findings points to a broad push to increase employee compensation as a way to sustain growth and competitiveness in the Russian market. The evidence implies that small and mid-sized enterprises are acting decisively to reward performance and endurance in a tightening economic landscape.