Half of our countries would like to tie salaries to the dollar or the euro

According to the Superjob survey, 47% of our countries would like to tie salaries to the dollar or euro – this is the highest figure since 2015

What’s going on

  • According to a survey by the research center of the Superjob.ru portal, almost half of the inhabitants of our country would like to fix their salary in dollars or euros. This is the highest figure since 2015, when 32% of our countries declared such a desire.
  • Of the 47% of the population who want to attach their salaries to the dollar or euro, there are more supporters of this idea among men than among women (55% versus 41%, respectively). In addition, this desire is more often manifested among respondents under 34 years old (56%) and with an income level above ₽80 thousand per month (51%).
  • In turn, 31% of respondents said they would not like to tie salaries to foreign currencies. This is mainly justified by the reluctance to worry about every jump in the exchange rate, as well as the fact that respondents mostly spend money in rubles.
  • In 1% of our countries, salaries are already pegged to the exchange rate – most often middle and senior managers of commercial divisions work on such conditions, and among them there are more men and respondents aged 35 to 44 years.
  • The survey involved 1 representatives of the economically active population from all districts of our country.

What does it mean

According to a survey by the Rabota.ru service, 91% of our country were dissatisfied with their salaries in 2021, while a quarter of workers would like to receive an average of ₽50 more. In this regard, it can be assumed that the inhabitants of our country expect that pegging wages to the dollar or euro will allow them to receive higher monetary remuneration.

However, given the volatility of the Russian ruble, pegging wages to stable foreign currencies can play a trick on employees. As a rule, companies that pay out in foreign currency are guided by the official exchange rate of the Central Bank of our country on the day of payment, and it can be significantly lower than during the entire month. For example, in January 2022, the maximum value per US dollar reached ₽78,95, the minimum was ₽74,53. For workers with a salary of $1,000, the difference in payments could be almost ₽4,5 thousand.

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