top management salaries. "Kommersant" compared the income of top managers, their subordinates and foreign colleagues
Top managers of Bashneft found themselves in a similar situation, having lost 72% of their former remuneration: if in 2014 each member of the company's board received an average of 133 million rubles, then in the past - less than 38 million. The salaries of managers remained almost unchanged, explained RBC in Bashneft: the minimum decrease is 2.3%. But the reduction in bonus payments in 2015 "is associated with a high base in 2014 - in particular, with payments under the option program for 2013 and 2014," the press officer specified. Aeroflot's top managers, whose average monthly income last year amounted to 2.6 million rubles, also lost more than half of their payments. Press Secretary of the airline Maxim Fetisov refused to answer questions from RBC.
For the first time in several years
Transneft, which for several years did not indicate data on the amounts of remuneration of its top managers in its quarterly reports, for the first time reported on the income of members of the board. As follows from these data, last year, nine members of the team of Nikolai Tokarev received an average of 90.5 million rubles, or by 7.5 million rubles ($123 769 ) per month. It was not possible to get a comment from Transneft at the time of publication.
On the other hand, the year turned out to be fruitful for the power industry: the members of the board of RusHydro received twice as much as a year earlier - an average of 146.3 million rubles. (72.4 million in 2014), payments to the managers of Inter RAO increased by more than one and a half times (an average of 7.6 million rubles per month), revenues of the top managers of FGC UES, IDGC Center and Rosseti.
In RusHydro, the solid remuneration of top managers is explained by bonuses paid in the third quarter, but it is specified that those who have been working in the company from 2014 to June 2015 were rewarded, and the current CEO, Nikolai Shulginov, took his post only in September last year (before that, the company was headed by Evgeny Dod), and from that moment on, he earned only 3.9 million rubles in 3.5 months. IDGCs refer to the achievement by top managers of high values of key performance indicators, to which remuneration is tied. FGC emphasizes that the growth is due to the transition from semi-annual to quarterly bonuses for top managers since July 2014. “Accordingly, part of the bonus payments scheduled for payment in 2014 were actually made in 2015,” the company said in a response. “The amount of remuneration to the board established by the board of directors has not increased.” And in Rosseti, the growth in income is explained by the payment of full-fledged annual bonuses for 2014: the company began operating in 2013, and in 2014 top managers were rewarded only for the second half of 2013.
Among the leaders in terms of the growth rate of remuneration is Rostelecom: last year its executives received 67% more than in 2014, an average of 51 million rubles. The representative of the company refused to comment on such successes of Sergey Kalugin's team.
Thanks to more successful top managers, the overall result turned out to be zero: that is, the cumulative average incomes of the heads of all companies in our sample over the past year have changed by exactly 0%. In general, salaries of top managers in the market did not decrease either, says Rustam Barnokhodzhaev, director of the department for working with key clients of the Unity recruitment agency. But the amount of remuneration is not now decisive for employees, he emphasizes, the main thing is stability and prospects. But the senior partner of Ward Howell Georgy Abdushelishvili nevertheless noticed a trend towards a reduction in remuneration of top managers. “Firstly, all payments linked to the dollar and foreign currency exchange rates were converted into rubles. Secondly, the annual bonuses, which make up a significant part of the income of top managers, have decreased,” he notes.
Privates
The year also went relatively smoothly for ordinary employees of state-owned companies: according to their quarterly reports, the staffing of all companies from our sample decreased by only 4.7%, from 1.56 million to 1.48 million people. But without taking into account the ongoing purge of the ranks of Russian Railways (-7.6% per year), the drop would have been only 1.3%. In addition to Russian Railways, cuts were made in Bashneft (-25%), RSHB (-11%), Rostelecom (-7%), RusHydro (-5%). Some of the changes are related to structural changes in companies: for example, in Bashneft, part of the employees involved in oil retail trade moved to the subsidiary Bashneft-retail, while in fact the company did not fire anyone, according to the press service. And the reduction in the average headcount in the RSHB was explained by "a change in the functional-role business model, reformatting the regional network and other measures aimed at further development of the bank."
Some companies even recruited people: for example, Transneft, whose staff grew by 5% over the year, Sberbank - by 3.3%, Rosneft - by 1.4%. Inter RAO and Gazprom ended the year in a small plus. No cuts are planned next year either, the press service of the gas holding assured RBC.
Staff salaries were also not affected. On average, it even grew by 11%, follows from quarterly reports. The largest growth - 35.3% - was among the employees of Sovcomflot (there are, however, only 92 of them). Last year, on average, they received 701 thousand rubles per month. and by this indicator they were far ahead of all other colleagues from our sample. By 17%, up to 422 thousand rubles. on average per month, salaries at Inter RAO increased by 14%, to 553 thousand rubles. per month - in Rosneft. Rosneft did not respond to RBC's request for wage increases.
The fall in wages occurred only in three of the companies analyzed by RBC - Bashneft, VTB and RusHydro by 12.6, 9.2 and 8.9%, respectively. The representative of Bashneft, Sergey Verezemsky, explains that there were no real salary cuts in the company, and the fall is due to the high base of 2014, when employees received bonus payments under the option program. VTB and RusHydro did not respond to RBC's request by the time the material was released.
How we thought
The average remuneration of the company's top managers was calculated by dividing the total remuneration of members of the collegial executive body by their average number for the year. The dollar equivalent was calculated based on the average exchange rate for the specified period. The total remuneration of top managers includes: remuneration for participation in the work of the governing body, wages, bonuses, commissions, benefits, reimbursement of expenses, and other types of remuneration. What is meant by "other types of remuneration", companies, as a rule, do not specify and indicate only their monetary equivalent. The data does not take into account the possible income of top managers received from other sources.
The average salaries of employees were calculated by dividing the total amount of the wage fund for the year by the average number of employees, excluding social payments.
With the participation of Elizabeth of Arkhangelsk and Natalia Telegina
Salaries of top managers of the largest state-owned companies in Russia are usually not disclosed. Previously, the public had to rely only on the investigations of journalists and data obtained from high-ranking officials, which happened extremely rarely.
According to the decree of the Prime Minister of the Russian Federation D. Medvedev, all directors of state corporations are required to open public access to information on income. However, after some time, companies with the status of OJSC were declared commercial. As a result, it turned out that the top managers of these companies are not employees of the state structure, but ordinary entrepreneurs, and the requirement to disclose their earnings falls under the “violation of trade secrets”.
The population, of course, was outraged by this turn of events. But a compromise was found: CEOs of companies that involve private shareholders should report only to the government. But, despite this, some officials decided to make their declarations public, and for many other top managers, there is enough information from the investigations of journalists to add up the overall picture of their income.
The annual bonus of the head of a state-owned company in Russia is assigned in the amount of up to 150% of the annual salary.
Often the salary and bonus remuneration for the head of a state-owned company is determined not by the state, as is commonly believed, but by the decision of the Board of Directors. The amounts that will be paid to top managers usually depend on the top management. An additional fee is assigned to the general salary for participation in management, business trips, compensation for renting a dwelling, money for training, etc. To this are added annual bonuses, remuneration for the implementation of important projects, as well as on the occasion of awarding by the state or department. Also compulsory pension insurance, life-long free treatment (including for the family), a payment that is equal to six months' salary in case of dismissal.
Naturally, it's a shame that all this applies to state-owned companies working in the field of oil and gas, and not to entrepreneurs who created and implemented one of the new developments. The statistics of Russian monthly salaries in oil and gas companies are as follows:
- well driller - 45,000;
- installation operator - 55000;
- chief technologist - 65000;
- geophysicist - 68000;
- geologist - 80,000;
- drilling engineer - 120-150 thousand rubles.
Salaries are very impressive for the scale of the country, even the smallest salary is much higher than the average salary in Russia. Employees working in the field of oil and gas, in terms of their income, are second only to bank employees. But we must not forget that these works are carried out on the outskirts of the country, in most cases in the Far North, where the cost of products is much higher than in the places inhabited by people.
And in order to receive the salary of the management team, it is necessary to overcome a colossal distance. The average salary of a company director is about 600,000 rubles, and the salary of a member of the Board of Directors is 1.17 million rubles. (this is a monthly, not an annual salary).
If we compare the salaries of Russian oil workers with foreign colleagues, it turns out that in the first case, the salary in this area is 150 thousand rubles, which is about 2.6 thousand dollars. How is it in the west? The world leaders in terms of average wages among employees in the oil sector are:
- Australia - 14 thousand.
- Norway - 13-13.5.
- New Zealand - 11 thousand.
- The Netherlands, Canada and the USA - 10 thousand each.
Usually in other states the level of wages is much higher than the average national salary. It is necessary to take into account not only the size of wages, but also the volume of extraction and processing of raw materials, as well as the amount of profit. For example, the Russian state corporation Gazprom Neft produces 79.7 million tons of raw materials during the year, processes more than 43.1 million tons per year, and the profit for this period is 110 billion rubles (1.8 billion).
It was not possible to find out exact information on the salaries of top managers of Gazpromneft, but if we focus on the salaries of top managers of the main company in Gazprom, then approximately it amounted to about 312 million rubles, which is 5 million dollars per year, or 420 thousand .dollars every month.
The average wages of ordinary employees were given above, amounting to 45-80 thousand rubles, which corresponds to 700-1300 dollars. On the territory of Kazakhstan, there is a similar state-owned company - KazMunayGas - with an average salary of an operator of underground well workovers of 2.1 thousand rubles.
Engineering and technical personnel receive an even higher salary, with the volume of extracted raw materials in the range of 23 million tons per year and the company's profit of 92 million rubles.
The heads of oil companies in Azerbaijan have a salary of up to $200,000 per month, in Iran - less.
On closer examination, in Azerbaijan, as in Russia, the export of gas and oil is one of the main sources of budget formation. The state company SOCAR dominates on the territory of Azerbaijan, in which many dream of getting a job. But, despite the scope of the company, salaries in it are far from cosmic. Office staff, in terms of rubles, receive within 5 thousand. People who have to work on drilling rigs on the high seas have up to 45 thousand.
Almost all top managers of this company belong to the category of “their own”, and, in addition to the basic salary, receive additional income “in an envelope”. According to unofficial data, all top managers and vice presidents of the company receive about 200 thousand dollars every month. By general standards, this is quite modest. Salaries of top managers in Russia, according to the Forbes rating:
- I. Sechin, chief executive officer of the Rosneft company - $50 million.
- A. Kostin, director of VTB - 37 million.
- A. Miller, Chairman of the Board of Gazprom - 25 million rubles
- G. Gref, Chairman of the Board of Sberbank - 18 million rubles
- V. Yakunin, President of the Russian Railways Society - about 15 million
Their foreign colleagues receive on average approximately the following amounts:
- Brian Roberts, CEO of telecommunications company Comcast - $31.4 million
- Jeffrey Beukes, CEO of Time Warner - $32.5 million
- David Zaslav, Head of Discovery Communications – $33.3 million
- Robert Iger, director of The Walt Disney Company – $34.3 million
- Philip Dauman, top manager of Viacom - 37.2 million.
As can be seen from the data provided, Russian top managers are significantly inferior in salaries to their Western counterparts. However, at the same time, they provide their companies with the same profit as American firms. But the responsibility of Russian leaders is much greater and more serious. In most cases, the staff in domestic companies is several times higher than in the West, but at the same time, the field of activity is dangerous and strategically important. This is not one of the many channels, but banks, railways, industry and energy, etc.
Against the backdrop of the crisis, sanctions and the November slush, it's nice to know that there are people in Russia who continue to live normally and in some places even well. Evidence of this is the highly entertaining list of awards for the most important Russian managers and company executives published at the end of November by the Russian magazine Forbes. Forbes continues to delight readers with the spectacle of other people's money for many years - the rating started in 2012. However, five years ago, the dollar was lower and the rewards were higher. If in those days managers were enriched by $ 1.89 billion annually, then in the current 2016 their salaries have decreased by more than half.
Total in the official ranking of the richest Russian top managers 2016 was attended by 70 executives of companies that are not their owners. The assessment was made on the basis of the following criteria: short-term payments (salary, bonuses, etc.), long-term payments (share income) and bonuses from participation in the boards of directors of subsidiaries.
All data obtained are summarized in a table. Places were ranked based on the final values.
10. Ruben Aganbegyan
In 2015, the General Director of OJSC Otkritie Holding received $6 million. This is a significant change from 2014, when his remuneration amounted to almost twice as much. However, he was more fortunate than the former head of Russian Railways, Vladimir Yakunin, and others who dropped out of the ranking altogether.
9. Andrey Akimov
Akimov has been chairing the board of Gazprombank for a long time - more than 14 years. And the company pays its old and honorary member, respectively - in 2015, he received $ 6.3 million. In 2014, Andrei had more money - his remuneration then amounted to 8 million rubles.
8. Mikhail Zadornov
In 2015, a skiing enthusiast and part-time chairman of the board of VTB24 earned $6.5 million. This is $2 million less than in 2014.
7. Mikhail Shamolin
Apparently, in connection with the crisis, AFK Sistema, whose CEO is Shamolin, used an original tactic. Its top managers are now required to invest their hard-earned money into the company's shares and assets. It is not known how profitable such a system will be and whether it will help keep Sistema afloat, but its permanent president since 2011 is among the highest paid leaders in the country. In 2015, his reward was $7.4 million.
6. Vladislav Solovyov
As a child, Vladislav dreamed of becoming an ice cream man, but, fortunately for himself, he changed his mind and instead became the CEO of UC Rusal two years ago. Unlike most of those participating in this top 10, his income in 2015 was more than in 2014 - if earlier he received 4.4 million dollars, then last year - 7.4.
5. Ivan Streshinsky
The CEO and old friend of Alisher Usmanov, the owner of the USM holding, where Ivan earns his modest $10 million, has also been hit by the crisis. Compared to 2014, it costs the company $5 million less.
4. Dmitry Razumov
In 2016, Dmitry overtook German Gref in the St. Petersburg race through the historical center of the city. But in the competition for the amount of payments to the richest managers in Russia, the CEO of the Onexim group lagged behind Herman, taking only 4th position. True, only a million - in 2015 Dmitry received 10 million (exactly a third less than in 2014).
3. German Gref
Gref's income in 2015 decreased relatively slightly - instead of $13.5 million, they amounted to $11 million. However, even this modest small amount provoked a protest from the Sberbank press service: she believes that Gref's income is greatly exaggerated.
2. Igor Sechin
Being the head of Rosneft is profitable - last year Sechin received a reward of $13 million (and in 2014 his income was $17.6 million). But according to the press secretary of Rosneft, Forbes greatly embellished the real figure. At the end of 2016, Sechin topped the Russian media charts in connection with the arrest of Alexei Ulyukaev, suspected of taking a bribe from the head of Rosneft.
1. Alexey Miller
The permanent head of Gazprom since 2001 has been winning the 2016 top-management income race of the Russian Federation by a wide margin, remaining number one. Last 2015, it cost the company $17.7 million, almost 33% cheaper than in 2014 ($27 million). All top managers of Gazprom received $78.3 million in 2015, and the company's total income last year was $140.4 billion.
Forbes has published its latest rating of the highest paid top managers in Russia. This rating has been published for five years.
During this time, total payments to the heads of Russian companies increased by 2.3 times.
Below is the ranking
the most "expensive" top managers
according to Forbes.
1. Alexey Miller
Position : Chairman of the Board of PJSC Gazprom
Age : 54 years old
Reward assessment: $17.7 million
- Alexey Miller was born on January 31, 1962 in Leningrad.
- Since 2001 - Chairman of the Management Board of PJSC Gazprom.
- Since 2002 - Deputy Chairman of the Board of Directors of PJSC Gazprom.
- In February 2016, it became known that the contract with Alexey Miller as Chairman of the Management Board of PJSC Gazprom was extended for another 5 years
2. Igor Sechin
Position : President, Chairman of the Board of Rosneft Oil Company
Age : 56 years old
Reward assessment: $13 million
- Igor Sechin was born in Leningrad on September 7, 1960.
- On May 23, 2012, shortly after Putin took office for a third term, Sechin was appointed president of Rosneft.
- According to Forbes, in 2015 Sechin received 3.4 million rubles. for his work on the Board of Directors of Inter RAO. He donated the money he received to charity.
- A block of shares in Rosneft brought him $2.5 million in dividends based on the results of 2015.
3. German Gref
Position : President, Chairman of the Board of Sberbank
Age : 52 years old
Reward assessment: $11 million
- Gref was born in the village of Panfilovo, Irtysh district, Pavlodar region, Kazakh SSR.
- German Gref was the main lobbyist for Russia's entry into the World Trade Organization.
- Also, at various times, he was a member of the board of directors of many state-owned companies (Gazprom, Svyazinvest, etc.)
- From October 2007 to the present, Gref has been Chairman of the Board of Sberbank of Russia.
4. Dmitry Razumov
Position : General Director of ONEXIM Group
Age : 41 years old
Reward assessment: $10 million
- Dmitry Razumov was born on February 7, 1975 in Moscow.
- Graduated from the Faculty of International Law of the Moscow State Institute of International Relations.
- Since 2007, he has been the CEO of the ONEXIM group, which includes the assets that Mikhail Prokhorov inherited during the division of business with Vladimir Potanin.
5. Ivan Streshinsky
Position : CEO USM Advisors
Age : 47 years old
Reward assessment: $10 million
- Streshinsky was born in 1969. He received his higher education at the Moscow Institute of Physics and Technology.
- He graduated in 1992. He studied in the specialty "Applied Mathematics and Physics" at the Faculty of Flight Technology and Aerodynamics.
- From 2006 to 2007 served as CEO of Gazmetall, which owned a number of metallurgical assets of Alisher Usmanov and Andrey Skoch.
- From 2008 to 2012 - CEO of Telecominvest, which owns Usmanov's telecommunications assets.
- Since 2012, he has been the CEO of Usmanov's company USM Advisors.
6. Vladislav Solovyov
Position : General Director of UC Rusal
Age : 43 years old
Reward assessment: $7.4 million
- Born on May 14, 1973. Graduated from the Higher School of Management of the State Academy of Management.
- From 2000 to 2008 headed the accounting department, was the deputy general director for finance at Rusal.
- From 2008 to 2010 - CEO En. From 2010 to 2014 served as First Deputy Director of UC Rusal.
- Since 2014, he has been the CEO of UC Rusal.
7. Mikhail Shamolin
Position : President of AFK Sistema
Age : 46 years old
Reward assessment: $7.4 million
- Shamolin was born in 1970. In 1992 he graduated from the Moscow Automobile and Road Institute (MADI)
- In 1993 - the Russian Academy of Public Administration under the President of the Russian Federation.
- In 1996-1997 Completed the Wharton Business School's Senior Management Program in Finance and Management.
- Since 2011, he has been President of AFK Sistema.
8. Mikhail Zadornov
Position: President - Chairman of the Board of VTB24
Age : 53 years old
Reward assessment: $6.5 million
- Zadornov was born on May 4, 1963 in Moscow.
- From 2000 to 2005 was a member of the State Duma.
- Since July 2005 - President - Chairman of the Board of VTB24.
9. Andrey Akimov
Position : Chairman of the Board of Gazprombank
Age : 63 years old
Reward assessment: $6.3 million
- Akimov graduated from the Faculty of International Economics of the Moscow Finance Academy (MFA) with a degree in international economics, finance and banking.
- From 1991 to 2002 in Investment Management & Advisory Group GmbH (Austria), he held the position of Managing Director, Staff Advisor to the Chairman of the Board of Vneshtorgbank.
- Since November 2002, he has been Chairman of the Management Board of Gazprombank.
10. Ruben Aganbegyan
Position : Chairman of the Board, General Director of Otkritie Holding JSC
Age : 44 years old
Reward assessment: $6 million
- Aganbegyan was born on February 14, 1972 in Novosibirsk.
- From 2003 to 2010 held the position of head of the Russian branch of IC "Renaissance Capital".
- From 2010 to 2012 headed the Moscow Exchange.
- Since 2012, he has held the position of Chairman of the Board, General Director of OJSC Otkritie Holding.
- Owns a 7.96% stake in OJSC Otkritie Holding. The package price is $267 million, as of October 20, 2016.
11. Jean-Yves Charlier
Position : CEO Vimpelcom Ltd
Age : 52 years old
Reward assessment: $5.7 million
12. Maxim Sokov
Position : CEO of En+
Age : 37 years old
Reward assessment: $5 million
13. Alexey Marey
Position : Chief Executive Officer of Alfa-Bank
Age : 39 years old
Reward assessment: $4.5 million
14. Gulzhan Moldazhanova
Position: General Director of "Basic Element"
Age : 50 years old
Reward assessment: $4 million
15. Alexander Dyukov
Position :
CEO of Gazprom Neft
Age : 48 years old
Reward assessment: $3.8 million
16. Nail Maganov
Position: General Director of Tatneft
Age : 58 years old
Reward assessment: $3.6 million
17. Pavel Grachev
Position : General Director of PJSC Polyus
Age : 43 years old
Reward assessment: $3.5 million
18. Boris Kovalchuk
Position : Chairman of the Board of Inter RAO
Age : 38 years old
Reward assessment: $3.5 million
19. Andrey Varichev
Position : General Director of Management Company "Metalloinvest"
Age : 48 years old
Reward assessment: $3.4 million
20. Alexey Moskov
Position : Chairman of the Board of Renova Group of Companies
Age : 45 years old
Reward assessment: $3 million
21. Nikolay Tokarev
Position : Chairman of the Board of Sibur Holding
Age : 46 years old
Reward assessment: $2.6 million
Out of rating. Andrey Kostin
Position : President - Chairman of the Board of VTB Bank
Age : 60 years old
Andrey Kostin, President and Chairman of the Management Board of VTB, was not ranked: Forbes did not name his remuneration, explaining that the VTB Group did not provide data on key managers to whom the total remuneration for 2015 in the amount of 6.1 billion rubles is distributed. A year earlier, Forbes estimated Kostin's total compensation at $ 21 million, the state banker ranked second.
Photo Grigory Sysoev / RIA Novosti
List of the eight highest-paid top managers of Russian state corporations: the first place among them is occupied by the Chairman of the Board of JSC "Rosnano" Anatoly Chubais; the last, the eighth, went to the head of VTB Andrey Kostin.
Forming the rating of top managers, the journalists of "Sobesednik" immediately make a reservation that their data is approximate and underestimated. The reason is that companies and banks do not disclose how many salary bonuses their managers receive. The latter also have the right not to disclose data about their property, and almost every one of them uses this.
Many-faced top managers
The newspaper gave the first place in terms of income to the head of PJSC Gazprom Alexey Miller. Concurrently, he is also the chairman of the board of directors at Gazprombank, SOGAZ, Gazprom Neft, Gazprom Media. The monthly salary of this top manager is more than 58 million rubles (or 699 million rubles a year), which is a thousand times more than most Gazprom employees. For example, Gazprom Dobycha Krasnodar receives an average of 58,000 rubles a month. In "Gazprom transgaz Volgograd" - 44 thousand rubles.
According to journalists' calculations, work as a chairman at Management Company Rosnano LLC brings Anatoly Chubais 41 million rubles in year. But he is still paid on the board of directors of JSC Rusnano and on the board of directors of PJSC Pipe Metallurgical Company. In addition, Chubais cooperates with Skolkovo, heads NovaMedica LLC and RosnanoMedInvest LLC. Chubais' annual income 326 million rubles, journalists calculated.
Approximation yield
As close as possible to the authorities, the chairman of the board of Rosneft Igor Sechin, to put it mildly, does not advertise their income. But you can try to calculate them from the total income of 11 members of the board of the state-owned company. In 2017, it amounted to 3 billion 895 million rubles, i.e. on average for 354 million rubles per year for each. It is logical to assume that the chairman of the board got more than the rest.
It is quite possible that in the coming years Sechin and his fellow managers at Rosneft will receive even more, regardless of the effectiveness of their work. In previous years, the company showed a decrease in net profit, but the salaries of top managers increased. In addition, the other day Sechin also asked Vladimir Putin on tax incentives.
Another of the most influential people in the country is the CEO of Rostec Sergei Chemezov receives a salary in 400 times above the corporate average ( 44 thousand rubles per month). It is unlikely that Chemezov is in for a decline in well-being - his friendship with Putin from the time of joint work in Germany does not imply this.
Close not only to Putin, but also to the head of government Dmitry Medvedev Chairman of the Board, Inter RAO UES Boris Kovalchuk. Today, Kovalchuk, who is responsible for the electric power industry, earns 21 times more than Medvedev - officially, of course. Top manager's income was 178 million rubles per annum.
In turn, the head of Russian Railways Oleg Belozerov is not afraid to state his official income. His earnings are more 14 million rubles per month. At the same time, the positions of a foreman in Russian Railways are paid 52 thousand rubles per month, and the loader - 20 thousand.
An old friend of Vladimir Putin, the head of Sberbank German Gref without much damage to himself, he can lend to the President of Russia, if he asks. His salary is 519 million rubles per year, and Putin's annual income is less 9 million rubles. By the way, the Russian president receives a salary of 14 times lower than the rating outsider - the head of VTB Andrey Kostin who is content 122 million rubles in year.
