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The Moscow Times Moscow Guide – Winter 2008

Since the middle of autumn one of the most important topics of discussion, could only be … no, not the financial crisis… New Year! The winter issue of The Moscow Times Moscow Guide is entirely devoted to New Years celebrations. Seven great ideas for celebrating the “Night of Nights” will help readers finalise their plans and choose how and where to party, give fresh ideas and lots of practical advice.

And don’t forget – problems will come by themselves, but happiness and luck need an invitation. That why the more cheerful and light-hearted your celebration of the coming holiday is, the happier and more successful 2009 will be for you.

The Crisis: Signs of a Kremlin Fearful Of Unrest
Sociologist Yevgeny Gontmakher has painted a disturbing picture of what might emerge from the financial crisis, forecasting continued unemployment, huge protests and spreading violence.

Market Matters: Huge Grain Harvest No Boon for Farmers
This year Russia is enjoying the biggest grain harvest it has ever seen -- and farmers couldn't be more worried.



Thursday, January 08, 2009 Updated at 31 December 2008 22:36 Moscow Time.

The Moscow Times » Issue 3808 » Career

Ask the Boss

17 December 2007By James Marson / Special to The Moscow TimesQ: Should employees expect a New Year's pay raise?

Luc Jones, partner, Antal International Russia/CIS:
In our experience, candidates tend to expect an annual bonus, payable at the end of the year, rather than a New Year's pay rise. In corporations with any kind of structure, raises tend to be given during performance reviews, which take place either at six- or 12-month intervals.

"However, due to the acute skills shortages in Russia/CIS at the moment, we are seeing a strong upward pressure on salaries and therefore pay rises are requested, and often given on a much more ad hoc basis than a few years ago -- many of these demands for pay rises are in fact counter offers when an existing employee is offered a pay rise to stay in his/her existing company after receiving an offer from another firm.

"People who are refused pay rises may begin to look around for another job -- employees should try to be realistic about what they are worth on the market; employers should remember that if someone does leave, the replacement cost of such a person is almost always higher than what the original employee was earning -- and possibly even more than after the proposed pay rise."

Natalya Danina, director, ANCOR Survey Services:
In practice, the salary review generally takes place in January-February. Approval of the wage indexation for the following year is done during the budgeting process, when the company sets its main financial parameters for the year ahead.

"There is no doubt that the staff expect their salaries to increase in comparison with the previous year. The size of wage indexation should be no less than the forecasted inflation for next year. According to our information, next year salaries will grow by 12 percent on average."