Sweden has been constantly ranked as one of the countries with above-average salary rates.
As a result, they have become a viable option for employees looking to get back on track, as they have great average wages paid each month.
You are not alone in wondering what Sweden’s average monthly salary, minimum, and median salary are. Most people also ask the same question because they want to work in this country.
Sweden can still be considered one of the best countries in Europe regarding the living cost and salary. We will check out Sweden’s minimum wage, average wage, and average annual salary.
What Is the Average Salary in Sweden?
On average, employees working full-time in Sweden get about 32,500 Swedish Krona per month — which, if converted to euros, goes to around 2,900. This number is what goes inside your bank account at month’s end.
Based on different statistics like Trading Economics, the gross salary in Sweden is 43,200 Swedish Krona, which falls slightly closer than expected to Sweden’s average monthly salaries.
On the other hand, the median salary was calculated to be around 38,900 SEK, which means half of the population is earning below this.
As we’ve mentioned, there was quite a drop in average salary in Sweden, especially in many European countries. It doesn’t also help that they are included in the top 10 in the world with the highest employment rates based on statistics.
However, the following years were quite a surprise for Sweden because if you look at the statistics, the average monthly salary and average wage went up by 600 Euros overall.
You need to consider many things when discussing the average salary. One factor is that one job is better paid than others. A person working for a private company or institution can also get paid more.
You do have to consider that salaries are also different on many levels. Often, salaries are based on experience, education level, and an employee’s skills.
Another thing you need to consider is salaries tend to be fairly high in cities like Stockholm and municipalities like Lidingo, Danderyd, and Taby, to name a few.
Comparison With Other Countries
According to Europa.eu, Luxembourg has the highest average annual salary with 72,000 Euros, Denmark with 63,300 Euros, and Ireland with 50,300 Euros.
Sweden comes in at 6th with 46 934 Euros, while Bulgaria is the lowest in average salary, followed by Hungary.
Here’s a breakdown of the average yearly salary in EU Member states. These are in order:
NOTE: These are the top European countries with the highest annual salary.
Sweden Wages Data
According to several statistics and data, the average monthly wages in Sweden in 2021 was around SEK 36,900 before taxes, which is quite high.
Some of these data were higher from the previous year, as some of these figures dived when the pandemic hit.
However, many factors affect median and gross salaries, including job title, experience, skills, educational attainment, etc.
It’s also worth noting that Sweden is keen on their collective bargaining agreements, which is why almost all workers are covered by these agreements negotiated by employers’ organizations and trade unions.
Benefits and Taxes in Sweden
Sweden’s unique social welfare system makes living in this country beneficial to everyone. Here are some benefits and taxes in Sweden.
- Universal healthcare
- Parental leave
- Unemployment benefits
- Sick leave
If we are talking about taxes, Sweden has a progressive tax system. As a result, workers and people with high salaries pay a higher percentage of their income in taxes compared to lower-salary jobs!
Factors that Affect Average Salary in Sweden
Many noticeable and unnoticeable factors affect the average salary in Sweden. Besides, the Swedish Industry is constantly changing and evolving, which is why many factors affect it.
These are the most obvious and biggest factors that affect the average salary in Sweden:
In Sweden, most people with higher levels of education experience higher wages than those lower than them.
- Employees with a certificate or a diploma earn more than 17% more than workers who could only reach the high school level.
- Employees with a bachelor’s degree in Sweden earn more than 24% more than their colleagues who only accomplished a diploma or certificate.
- Professionals that finished their Master’s Degree earn 29% more than employees with a bachelor’s degree.
- Lastly, employees with a doctorate earn 23% more than their counterparts whose education level only reached a Master’s degree.
As you can see, it pays to have a working knowledge, especially if you’ve earned your keep by studying and achieving different levels.
Simply put, educational level plays a major role if you want your wages to be slightly higher than they are. Many large international corporations pay their employees considerably, especially in the private sector.
Another factor is job experience. Naturally, like in several countries, the more years of experience you have, the more viable income you will be experiencing.
In general, employees with 2 to 5 years of experience can earn 32% more than the average of people who are new at their jobs across all sectors.
Once you’ve attained 10 years of experience, there’s a relative jump to your salary, as you will be earning 21% more than what the 2 to 5 years of experience make.
Always remember these are numbers only. It can be different if we’re talking about one job title to the other. Inexperienced workers will likely have to deal with minimum wage from the start.
Salaries can be different between industries. For example, a person working in the technology and finance industries may earn more than employees in the hospitality and retail sectors due to several factors!
In Sweden, people working in the Accounting and Finance department earn significantly more than other sectors. Some of the best banks in Sweden pay their employees a good amount!
Popular jobs in this sector include financial manager, financial analyst, and corporate treasurer, to name a few. Some of these employees work the majority in banks.
However, as we’ve mentioned, do not take this information as it is like the gospel since it can be a different story. We’re talking about one job title to the other.
While most jobs don’t pay sex higher than others, they do. If you ask who gets paid more in Sweden, men are paid 5% more than women, but this heavily depends!
In Sweden, location also plays an important role in salaries.
For example, people living in Stockholm have a higher salary than other cities and places in Sweden simply because it is expensive to live in the country’s capital city!
The best places to live in Sweden all usually have a high cost of living!
Highest Paying Jobs in Sweden
According to recent statistics, various jobs earn a decent salary based on their job title. Here are the five highest-paying jobs in Sweden for more job options!
Medical specialists have one of the highest salaries in the world, not just in Sweden! These jobs offer 70,000 SEK to 120,000 SEK, which is life-changing money!
There’s a significant demand for engineers in Sweden, especially for workers specializing in mechanical, software, and electrical engineering.
The average salary of these workers can vary from 50,000 Swedish Kronor up to 85,000 Swedish Kronor in a month.
With the growth of technology in Sweden, IT managers are one of many professions that experienced increased net salary and demand.
They earn SEK 60,000 to SEK 100,000 monthly, a salary people dream of having!
Living and working as lawyers in Sweden can pay dividends. They can earn as high as SEK 100,000 in net salary a month. The pay is significant here for lawyers, especially if compared to other countries.
In Sweden, financial managers have salaries ranging from SEK 60,000 to SEK 120,000 monthly.
Average Salary in Sweden Based on Industry
You can expect a different average in terms of salary depending on what type of industry you are working in. Here are some average salaries in Sweden based on where you work.
Finance (SEK 40,000 ~ SEK 90,000)
The finance sector is still one of the highest-paying industries in Sweden.
A person in this sector can expect a minimum of SEK 40,000, which is great even if you’re still studying the industry!
IT/Technology (SEK 50,000 ~ SEK 90,000)
Technology in Sweden, and the whole world, is more essential than ever!
The adaptability to technology’s growth resulted in most companies being willing to increase salaries to make up for the demands!
Engineering (SEK 40,000 ~ SEK 90,000)
Earning a minimum of SEK 40,000 working as an engineer is a sight.
In countries around the world, they aren’t earning high enough compared to Swedish engineers and other nationalities.
Healthcare (SEK 40,000 ~ SEK 80,000)
Healthcare professionals are amongst the highest earners in Sweden!
A minimum of SEK 40,000 monthly is expected and rightfully earned, but if they continue to climb up the ladder, they can earn up to SEK 80,000 and higher!
Education (SEK 30,000 ~ SEK 65,000)
Education might come as a surprise here. However, unlike other European countries, working in the education sector in Sweden provides decent wages that vary only from one job title to the other.
The Most In-Demand Jobs and How Much They Pay
According to the Swedish Public Employment Service, these are the most in-demand jobs in Sweden, and their gross salary!
- Healthcare professionals (SEK 25,000-50,000)
- Teachers (SEK 25,000-45,000)
- Engineers (SEK 30,000-60,000)
- IT Specialists (SEK 35,000-70,000)
- Construction Workers (SEK 25,000-45,000)
- Sales Representatives (SEK 20,000-40,000)
- Chefs and Restaurant Staff (SEK 20,000-35,000)
- Social Workers and Care Assistants (SEK 22,000-40,000)
Many jobs require fluency in Swedish. People interested in the positions advertised should be fluent in the language.
Also, one of Sweden’s amazing laws and work cultures is that they don’t impose a minimum wage.
How to Find Job Openings
There are several ways to find job openings in Sweden that pay a good salary; these includes:
Job Search Websites
One of the most popular ways to find job openings because it is easily accessible in Sweden is through job search websites. Websites like Indeed and Upwork are still two of the most popular options.
However, you can also look it up via Google Local posting through different websites. Most likely than not, you will find a minimum of 5 to 8 pages of reliable posting sites.
Company Career Business Pages
Many companies and businesses in Sweden rely on their business pages to gather traffic when looking for potential employees.
Social Media platforms have slowly gained popularity when it comes to advertisements and marketing! You can find a job opening through Facebook, Instagram, and others if you’re lucky!
You can never go wrong with business ads. You will most likely find job interviews posted along with their ads. So, looking closely at these ads to know if any available postings would be beneficial.
Recruitment agencies can help you connect to a potential employer matching your experience and skills.
One of the benefits of recruitment agencies is that they process your application fast and guide you through the search process.
Requirements for Obtaining a Work Permit
To obtain a work visa in Sweden, non-residents must have the following requirements:
- You just have a job offer from a Swedish employer. In addition, this offer must meet the requirements concerning the employment conditions imposed by the country, including salary, benefits, insurance, and many more.
- Valid passport. You must provide proof of a valid passport to the Swedish Migration Agency or the Swedish Embassy.
- Application form. You must complete the application form that is available on the Swedish Migration Agency’s Website.
- You must have a salary on par with the salaries imposed by the Swedish Collective agreements.
- When you begin work, your employer must provide health insurance coverage, life and employment pensions, and many more.
- You and your employer must sign an employment contract; without it, you cannot work! A copy of the document must also be attached.
Requirements vary depending on what industries you will be applying for. Always remember to meet the requirements, or else you won’t work!
In addition, the processing time for different documents may vary, so if you plan on working in the country, you must apply before your planned start date nears.
How to Be Self-Employed in Sweden
Following these steps will improve your chances of being self-employed in Sweden! Here are the crucial things to remember and do:
- Tax registration. If you want to open up a personal business, the first step you need to take is to apply for F-tax and VAT registration. You can apply online and have your Swedish social security number. But for non-EU/EEA individuals, you need a Swedish residency card.
- Business Registration. Your business should be registered with the Swedish Registration Office. This step is needed if you want to include your company’s needs to operate in a specific type of business or join any public procurement procedures.
- Other permits and applications. Once your business registration is approved, you might need to provide other permits and application forms during the start of your business.
It’s worth noting that starting a business in Sweden can be a little bit challenging and complex. It may be advisable to seek professional advice from lawyers, business advisors, and accountants.
Finding Work as a Freelancer in Sweden
Finding freelance work in Sweden is not too difficult, especially if you have been living there awhile and earned your permanent residence rightfully.
Here are things you can try to find some freelance work!
- Creating a professional profile. Different Swedish platforms allow you to create your profile to attract potential clients from Upwork, Fiverr, Indeed, and Freelancer. Always include your specialties, educational attainments, and previously worked positions.
- Social media. Social media platforms like Facebook and Twitter can help speed up getting a freelancer gig. Use these services to promote your specialties and expertise.
- Learning the language. Being fluent in the Swedish language is enough for you to earn a job with a good salary. Learning this language helps you get hired quickly.
Top Self-Employed Jobs in Sweden
Being self-employed has its perks so you can look for the top self-employed jobs in Sweden on various websites. Here are some top-self employed jobs in Sweden.
- IT Consultant. Data entry has never been in this high demand in the country. They offer a decent salary that is more than enough for daily activities and bills.
- Translators. For anyone who speaks other languages fluently, like English, there’s a place for you here in the country. The salary is good and has significant demand, especially for people who can speak multiple languages.
- Tour Guide. Tourism in Sweden is growing, and there’s an increase in demand for tour guides willing to take an extra step to introduce this wonderful country.
Self-Employed Benefits in Sweden
A self-employed worker in Sweden can enjoy several benefits aside from having a high salary. Being self-employed offers several benefits, especially if you account for Sweden’s high cost of living. Benefits include:
- Flexibility. When you’re self-employed, it allows you to choose your working hours, greatly lessening stress! You can choose your clients and work from anywhere you want.
- Tax Deduction. Taxes can get overwhelming quickly. However, when self-employed, you can claim tax deductions on your assets, including your equipment, supplies, and other stuff!
- Low Tax Rate. Unlike employees, self-employed individuals are subject to lower tax rates because owners can leverage their expenses to reduce taxes.
- Parental leave. Self-Employed Individuals are entitled and granted the benefit of parental leave. The father or the mother can either take this.
Frequently Asked Questions (FAQs)
You might find some answers below if you have additional questions regarding Sweden and salaries.
What Is a Low Salary in Sweden?
No minimum salary or minimum wage is imposed in this country, meaning the Swedish are not allowed to earn the lowest salary.
However, general data shows Sweden’s minimum salary is around SEK 18,500 monthly.
How Much Is Rent in Sweden?
Rent in Sweden depends on what type of space you will need. For example, renting a one-bedroom apartment will cost you a starting point and a minimum of SEK 14,000 and up to 20,000!
But it can be a little bit cheaper if you will rent a student dorm or apartment. At the minimum, you can rent one for as low as SEK 4,000 to 7,5000 per month.
However, do note that different factors influence rent in this country. From the type of space you will rent, the city you live in, and many more.
Lastly, rooms in the city center can be expensive too, and soaring electricity costs in Sweden.
What Is the Minimum Salary in Sweden?
One of the latest surveys in December 2022 stated that average wages remained unchanged. The minimum wage was 134 SEK/Hour, whereas the maximum was 184 SEK/Hour.
Like other European citizens experiencing high qualities of life, and cushy salaries, the Swedish Job Market can get competitive in terms of salary.
Whether their minimum salary is higher than most countries or people working in this country have higher salaries, this country’s economic progression doesn’t go unnoticed.
Workers have sought financial stability to provide for their families in recent years, especially after the global pandemic. So far, Sweden has not disappointed, and this article should sum up everything.