Friday, August 31, 2018

The cost of a good wage: A snapshot of the structure and dynamics of wages in Ukraine today

“May you live on a single salary!” This quote from a popular film by Soviet comedy director Leonid Gaidai was a half-humorous curse back then. Wages were very low for most people and those who didn’t make any money under the table had little to cheer about. Much water has flowed under the bridge since that time, but during the crisis years of 2014 and 2015, most Ukrainians found it a serious challenge to survive just on their regular wages. In the few years have passed since then, Ukraine is rapidly moving towards a record level of wages since it became independent.

The wage roller coaster

According to Derzhstat, the government statistics agency, the average official monthly salary in Ukraine reached UAH 8,725 (see Salary Realities). In Kyiv, it passed UAH 10,000 in 2017 and today it’s over UAH 12,000. Is this a lot or a little? Compared to indicators in Europe, even Eastern Europe, these numbers are no match. But if they are compared to certain domestic markers in Ukraine, the situation looks a lot better. 

No comments:

Post a Comment