The paper uses meta-analysis to investigate the evolution of returns to educationin Russia during the economic transition. We present the evidence of strongincrease in returns to education in the 1990s. The returns to education peaked at8% per additional year of schooling in the early 2000s. Since the mid-2000s thepositive trend has been reversed. We find that the estimated returns are sensitiveto sample design, specification and estimation methods. On average the estimatedreturns are higher if one uses imputed (instead of actual) years of education andestimates earnings equation with the OLS. Among covariates, the form of ownershipand settlement type (urban/ rural) has the largest effect on the estimated returnsto education. Regional variables have significant impact on the estimated returnsonly being included into the earnings equation at the oblast (province) level.