Victoria Khalanskaya — Ruble fall causes wage parity between Russia and China

The devaluation of the ruble has put average salaries in Russia on par with those in China, according to a study conducted by global management consulting firm, the Hay Group. The study examined salaries in 21 sectors of the Russian economy.

Experts came to conclusion that salaries of specialists in Russia have fallen sharply in dollar terms. Last year the salary level of highly qualified workers in Russia was 38 percent higher than in China, but this year the Russian and Chinese wage rates became equal.

Cheaper labor costs may induce companies to use Russia as a manufacturing base, according to the study. American pharmaceutical company Abbott plans to manufacture anti-cancer medication in the Veropharm factory in Russia and export the drugs. French pharmaceutical company Sanofi has similar plans.

Russia Beyond the Headlines
Ruble fall causes wage parity between Russia and China
Victoria Khalanskaya, RBTH