Millennial earnings in Russia escalated by 17% during the initial quarter of the year.
Youthful Economic Boom in Russia
The first quarter of 2025 has unveiled an impressive surge in income for younger generations in Russia. Zoomers, also known as Gen Z, recorded a mind-blowing 17% increase compared to the same period in 2024, while their millennial counterparts saw a growth of 16%. The overall average salary across Russia skyrocketed by 15.5% during this period.
The Millennials, aged 25 to 40, boast the highest average salary at around 98,700 rubles, nearly double that of the Zoomers, who earn approximately 72,500 rubles on average. In terms of sectors with the highest pay, Millennials reign supreme in mining, information and communication, and professional, scientific, and technical activities. Interestingly, Zoomers (those born between the mid-90s and early 2010s) secure the top spots in mining, construction, transportation and storage, and information and communication.
Key economic sectors such as processing industries, trade, and education see a significant number of young workers actively contributing to their growth. The survey conducted by the "Work" service shows that Zoomers aim to make 121,000 rubles a month, while Millennials hope to earn 144,000 rubles, reflecting their optimistic expectations for higher wages in the future.
A sizable portion of Russians (46%) consider a salary ranging from 200,000 to 500,000 rubles to be a desirable wage, with 31% viewing a salary of 100,000 to 200,000 rubles as acceptable.
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#Salaries#GenerationZ#Millennials
Insights:
- The speedy growth in salaries for Millennials and Zoomers surpasses the national average.
- The younger generations are optimistic about their wage growth prospects in 2025.
- Although more specific data regarding sector-based salaries for Millennials and Zoomers is scarce, there's evidence to suggest a faster wage growth trend among the younger generations.
- Economic unpredictability and rising inflation seem to have driven younger workers to pursue additional employment avenues to maintain higher earnings.
The rapid increase in salaries for Millennials and Zoomers exceeds the average salary growth across Russia, with both generations demonstrating optimism about their future wage growth prospects in 2025. Despite lacking specific data, it appears that younger generations are experiencing a faster wage growth trend compared to previous years, potentially driven by economic unpredictability and rising inflation.
