Importance The article researches quantitative and qualitative indicators of labor expense that represent unique characteristics of an individual worker. Every person requires that satisfying of his human needs should be based on permanent and stable cash grounds. Since salaries are the main source of an employee's income, a form of economic implementation of right of ownership on his labor resource, so a person is interested in a high payment rate for his labor. The wage rate is strongly influenced by both market and non-market factors that are individual characteristics of an employee, and they reflect the differences in the individual results of labor activity. We point out that it is necessary that the seller and the buyer of labor force should know and take into account those factors, when shaping an employee's remuneration rate. Objectives The goals of the research are to determine dependence of an individual's wages on the one's intelligence level, develop a mathematical model of influence of an employee's individual characteristics on the amount of his salary, as well as models of their defining according to individual factors of an individual's quality of life. Methods While solving the assigned tasks, we used a correlation and regression analysis of data processing, logit analysis, tabular and graphical methods for presenting findings. In order to achieve this goal, we used modern statistics packages of applied programs: STATISTICA, SPSS, and MS Excel. Materials of the Federal State Statistics Service, as well as the materials collected by the respondents' surveys served as the research database. Results The article examined a number of key indicators of labor market, statistical data, and it also has identified factors, which have effect on wages. The paper builds an econometric model of the dependence of an employee's earnings on his individual characteristics. We have developed a forecasting model pursuant to individual factors of an individual in terms of his belonging to specific level of standards of living. Conclusions and Relevance The research findings can be used to analyze and make decisions on labor remuneration, both at the regional and Federal levels.
Keywords: wages, forecasting, mathematical model, dynamics, regional labor market, Volga Federal District, regions
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