We consider electroweak corrections to the relation between the running $overline{mathrm{MS}}$ mass $m_b$ of the $b$ quark in the five-flavor QCD$times$QED effective theory and its counterpart in the Standard Model (SM). As a bridge between the two parameters, we use the pole mass $M_b$ of the $b$ quark, which can be calculated in both models. The running mass is not a fundamental parameter of the SM Lagrangian, but the product of the running Yukawa coupling $y_b$ and the Higgs vacuum expectation value. Since there exist different prescriptions to define the latter, the relations considered in the paper involve a certain amount of freedom. All the definitions can be related to each other in perturbation theory. Nevertheless, we argue in favor of a certain gauge-independent prescription and provide a relation which can be directly used to deduce the value of the Yukawa coupling of the $b$ quark at the electroweak scale from its effective QCD running mass. This approach allows one to resum large logarithms $ln(m_b/M_t)$ systematically. Numerical analysis shows that, indeed, the corrections to the proposed relation are much smaller than those between $y_b$ and $M_b$.
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