Which language is best to study at University – Russian or Spanish?
Which one will be most useful when applying for a job in four years time?
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It really depends on what you want to do and where you want to work. For pure usefulness Spanish is a better choice with over 300 million Native speakers (does not include all the secondary speakers which I am sure is very high). With Russian only around 160 million use it as their primary language.
For a job though, fewer people know Russian so it could help you stand out, but the odds of you using it unless you live near the former soviet block are rather slim.
Both have their uses, the government tends to demand Russian more.
While deciding it for yourself consider the fact that there are very many Spanish speakers in the US. If you are located here, there is a benefit to it, as with a huge Spanish speaking population, there is a high demand for this language. The downside of this is that as many people speak it, this skill is not that valuable, for example Spanish translators make less than Russian translators on per word basis. The number of Spanish translators is higher than the demand for them.
Regarding Russian, it is in demand by US government and there is a big number of oil/gas/electrical projects in Russia led by such companies as Fluor, Siemens, Yokogawa, etc. So technical specialists speaking Russian are highly valued.