Empirical analysis of job satisfaction determinants in Russia

Abstract

Investigation into job satisfaction determinants is of high practical relevance since it acts as an indicator of particular groups of employees’ willingness to invest in development of professional competencies and skills. The paper presents results of empirical analysis of determinants of job satisfaction, satisfaction with professional advancement prospects as well as concerns over possible job loss carried out using panel data representing working population of Russia. The main results obtained lead us to the following conclusions. Employment functions as well as financial incentives have the strongest influence over job satisfaction and satisfaction with professional advancement prospects, while respondents representing all professions reviewed are generally equally concerned with possible job loss. Age and length of respondent’s employment are nonlinearly related to satisfaction indicators while gender differences are not significant. Residents of large cities are less frequently satisfied with their jobs and professional advancement prospects; however, they are much less concerned about possible job loss. Those employed by state-owned companies and agencies more frequently express satisfaction with their current positions. The analysis also reveals a distinct decline in job satisfaction level and in satisfaction with professional advancement opportunities in the crisis years of 2009 and 2010.