The results of three sociological studies of the shadow wage are discussed (2008, 2010 and 2015). The research was done by unifrom methods in Novosibirsk region. The attention is focused on the features of the social interaction between the employees and the employers about the shadow wages, economic and social risks and benefits of such cooperation from the viewpoint of employer, employee and the government. The distinctive features of the shadow wage are highlighted. Specific features such as the long-term and shortterm formal and informal, unstable social situation, income instability, lack of legal and social security, hopeless future, which allow to refer to workers as a new social class called precariat. The extent of people’s involvement in the shadow process and its dynamics, industrial specifics, etc. were studied. It is concluded that both an employer and an employee are interested in it, due to the imperfection of governmental approach to the development of small business. A series of measures for legalising shadow wages and reducing its prevalence are suggested.