Ukrainians' salaries are growing: who gets paid the most

The level of wages in 2023 continued to be influenced by the factors of 2022 - the consequences of active hostilities in a large part of Ukraine, namely: the temporary loss of a large territory, the destruction of infrastructure and enterprises, significant permanent destruction of logistics and a significant number of people of working age abroad. This was reported by RBC-Ukraine with reference to the review of the Ministry of Economy.

"At the same time, domestic business entities are raising wages in order to retain and attract new highly qualified personnel in the face of a shortage of labor resources in the country," the review says.

The Ministry of Economy cites data from the State Statistics Service for 9 months of 2023, according to which the highest salaries of full-time employees were in the Information and Telecommunications sector, where they increased by 23.1% to UAH 36,877 per month.

The second highest was in Financial and Insurance Activities. Financiers receive an average salary of UAH 33,359. Salaries increased by 22.6%.

Next comes "Public Administration and Defense", where salaries increased by 14.5% to UAH 22,622.

Construction workers are paid the least - UAH 11,849 (up 24.6%).

Salaries in Ukraine

According to the government, in 2022, the average monthly nominal gross salary of employees amounted to UAH 14,847, while inflation-adjusted wages decreased by 11.9%.

The government forecasts that in 2023, nominal wages will amount to UAH 18,527, while inflation-adjusted wages will increase by 10.1%. In 2024, the salary will amount to UAH 21,809, and the inflation-adjusted salary will increase by 8.5%.

In addition, the government expects the salary to reach UAH 25,732 in 2025 and UAH 30,260 in 2026.

Based on the IMF's forecast exchange rate, the dollar salary of Ukrainians in 2024 will be $527, exceeding the pre-war level of 2021 ($514). In 2025, it will be $559, and in 2026 - $619.

Author: Oleksandr Bilous