Russia at a Glance

Working in Russia

Modern office buildings and business parks shape the image of Russia's economy today.

Working in Russia has never been this lucrative for expats! The country does not only have diverse employment options; expats working in Russia are generally the best paid foreign specialists worldwide. Our guide to working in Russia has some important details on the economy and work permits.

Since the great time of change beginning in the 1990s, the concept of working in Russia has changed in the minds of expats and Russian citizens alike. The transformation into a market-based open economy has had positive and negative effects for the population. However, as a whole, citizens and expats working in Russia have contributed to the country’s great economic upswing in the past decade.

Working in Russia: Main Economic Pillars

As in all industrialized nations today, most people working in Russia have found employment in the service sector, amounting to some 60% of the entire workforce. Industrial production is still going strong, though, with about 36% of employees working in Russia’s many industrial production and processing enterprises. Metallurgy is a special focal industry of the nation, as Russia is the world’s third largest exporter of steel. In recent years, the government has taken measures to make working in Russia’s IT sector attractive for foreign investors.

Seeing how the Russian Federation is a country of gigantic dimensions, it surely doesn’t come as a surprise that countless people make a living working in Russia’s resources sector. Producing, refining and trading natural resources is one of the main channels of income for the government and citizens working in Russia.

However, the export of commodities such as gas or steel makes Russia’s economy somewhat vulnerable to global ups and downs, as the harsh effects of the global financial crisis of 2008/09 have made obvious. Nevertheless, Russia was able to quickly recover from those blows. It was able to return to a growing economy within one year, thanks to various countermeasures by the government and the Russian Central Bank.

Working in Russia: The Expat Job Market

Working in Russia has long been a feasible choice for those expats looking for further experience in the construction and energy sectors. The latter in particular is highly lucrative for the country as a whole. Russia is the world’s largest producer and exporter of natural gas and, behind Saudi Arabia, the second largest producer of oil. While these two cash cows are, for the most part, largely controlled by government-backed companies, expats interested in working in Russia’s energy sector might still be offered some interesting incentives.

There is a steady need for construction and renovation in Russia, especially in cosmopolitan cities such as Moscow and Saint Petersburg. These two cities, incidentally also the first options for foreigners thinking about working in Russia, are not the only locations in which construction is underway: The Olympic city of Sochi, host of the 2014 Winter Games, is currently undergoing a full overhaul. Expats working in Russia’s construction industry are, of course, among the parties involved. It can be assumed that the need for infrastructural overhauls will keep those working in Russia’s construction and infrastructural sectors employed for years to come.

Working in Russia: Circumstances for Expats

If you are in the lucky position to start working in Russia as an expat, chances are you will receive more than adequate compensation. The HSBC Expat Economics Survey found that those expats with the most dispensable income and highest gross earnings were those working in Russia. This was not the only highly interesting result of the survey: Over three quarters of expats working in Russia stated that considerations concerning their careers were pivotal in their decision of relocating to the world’s largest country.

Employment in one of the largest expat domains – predominantly finance, energy, and construction – could also turn out to be a wise career step for you! With one third of all expats working in Russia earning in excess of 250.000 USD annually, and many expat positions being in the management tier, it is certainly a lucrative option.

Working in Russia: Social Security

Working in Russia, you will be covered by a social security scheme that, while it may not be as all-encompassing as in your home country, covers all the most important aspects, from sickness to work injury and unemployment. This is perhaps the most interesting fact for every expat about to start working in Russia: Only your employer is required to pay into the various social security and insurance funds. As an employee, you do not have any responsibility to contribute.