Main Trends and Proposals to Improve the Wage System in Russia

The article analyses the methods for setting the minimum wage in the constituent entities of the Russian Federation. The second part of the article presents the results of the study of the relationship between the size of the minimum wage, established by regional and tripartite agreements, with the achieved socio-economic indicators of the constituent entities of the Russian Federation on the basis of content and statistical analysis. This article states the fact of leveling the importance of the federal minimum wage as a tool to influence the level of economic development of regions and reduce poverty. The performed regression analysis revealed a statistically significant effect of indicators of poverty and unemployment levels on the decline in real wages in the constituent entity of the Russian Federation. The analysis showed, that the main factors influencing the establishment of the minimum wage in the region are the median wages, the gross regional product of the subject and the subsistence minimum of the TN. Fixed capital investments do not directly affect the level of minimum wages.