Ferrexpo average salary in 2022 exceeded industry average by 41%

In 2022, the average salary of an employee of the iron ore company Ferrexpo exceeded the average salary in the industry of Ukraine by 41%. This is evidenced by data from the company’s press service, provided at the request of GMK Center.

In 2022, the average salary at Ferrexpo was UAH 21.4 thousand. According to State Statistics Service’s data, for 2022 the average salary in the industry of Ukraine was UAH 15.18 thousand.

Average salary for main occupations at Ferrexpo Minings:

• excavator operator (28.58 thousand hryvnias/month);
• electric locomotive driver (26.42 thousand UAH/month);
• a driver for the transportation of mining mass (24.31 thousand hryvnias/month);
• crusher (22.78 thousand hryvnias/month);
• agglomerator (21.82 thousand hryvnias/month).

The company tried to involve workers as much as possible at the moment of a complete or partial stoppage of production in order to reduce the downtime of employees. In particular, for the protection of equipment, economic and unplanned repair work, performance of work in related professions and individual works that were previously performed by contractors, etc.

Ferrexpo has developed its own strategy for the creation of new highly professional and multifunctional places, which allows an employee to consciously build a career through training and acquiring new skills, thereby influencing his earnings.

“On the basis of the Ferrexpo Technical Expertise Center, training in additional and related professions is constantly conducted, which allows employees to perform their work more efficiently, and the company, in turn, to be more flexible in the matter of internal personnel replacement. Training is conducted online and offline, and simulators with augmented reality are used to practice the correct sequence of actions for certain types of work,” the company said.

In December 2022, Ferrexpo opened a qualification center for the evaluation of knowledge and competences in accordance with the requirements of the professional standard and the assignment of professional qualifications that are the basis for performing certain jobs.

“During the war, the presence of additional and related professions, as well as the possibility of assigning professional qualifications on the basis of the enterprise, gives more flexibility in the matter of internal transfer of employees to open positions. Employees who have achieved special professional results at work are given additional material incentives in the categories of «Best in profession», «Long continuous service» and others,” Ferrexpo summarizes.

In 2021, Ferrexpo increased the average salary by 8.4% compared to 2020 – up to UAH 21.97 thousand. The average salary of the company’s employees was higher than the average salary in the Poltava region almost twice as much, and compared to the average salary at Ukrainian mining and quarrying enterprises – by 13.8%.

The general level of wages in Ukraine in 2021 was 14.01 thousand UAH, and in industry – 14.9 thousand UAH.

As GMK Center reported earlier, in 2022, the Ferrexpo group paid UAH 6.3 billion in taxes to all level budgets in 2022 in Ukraine. Despite the drop in production by 46%, the company increased the amount of payments to local budgets by 13% and the amount of rent payments – by 70%.