Talent Wiki - Sweden
Your quick guide on talent and labor compliance norms in Sweden
Capital
Stockholm
Currency
Swedish Krona (SEK)
Languages
Swedish, English
Payroll Frequency
Monthly
GDP per Capita
$60,473.03
Employer Tax
31.42%
Talent Overview
Sweden has the most progressive economy for a highly developed export-oriented economy, contributed by timber, iron ore, and hydropower. They hold the 8th rank out of 45 in Europe for economic growth. The country followed a global pattern for the development of its economic statistics.
Major economic hubs:
Stockholm, Gothenburg, Malmö
Skills in demand:
Construction, Engineering, Healthcare specialists, IT Specialists
Local Universities
Top local universities of Sweden with world rank:
Lunds Universitet
RANKING
Local: 1
World : 191
Uppsala Universitet
RANKING
Local: 2
World : 198
Kungliga Tekniska högskolan
RANKING
Local: 3
World : 200
Linköpings Universitet
RANKING
Local: 4
World : 246
Göteborgs universitet
RANKING
Local: 5
World : 302
Salary Data
The following table provides the average salary data in Sweden:
| Job Title | Average Monthly Salary (SEK) | Average Monthly Salary (USD) |
| Financial Manager | 93,600 SEK | 9,007.02 USD |
| General Manager | 84,900 SEK | 8,169.83 USD |
| Business Development Manager | 72,800 SEK | 7,005.46 USD |
| Project Manager | 51,700 SEK | 4,975.03 USD |
| Business Analyst | 59,800 SEK | 5,754.48 USD |
| Financial Analyst | 57,500 SEK | 5,533.16 USD |
| Office Manager | 40,000 SEK | 3,849.15 USD |
Talent Sourcing Tips
Top Local Job Boards:
CareerBuilder, Blocket, Jobbland
Number of LinkedIn users:
4,760,000
Multiplier Recruitment Partner:
Employing in Sweden
To onboard employees from Sweden, the employer should be knowledgeable about the Employment terms, Labor laws, deductions, and benefits. This section has all the necessary information that employers can use.
Employee Contract
The employer has to provide the employee with a written employment contract. According to Swedish laws, the contract must contain all the terms and conditions and the employer’s information. There is no statutory language preferred in Sweden’s employment contract. Employers must ensure that the contracts are in a language that is understood by all of the parties involved.
Probation Period
The probation period in Sweden will be based on the collective agreement.
Public and Provincial Holidays 2023
| Date | Holiday | Type |
| 1 Jan | New Year’s Day | Public Holiday |
| 6 Jan | Epiphany | Public Holiday |
| 7 Apr | Good Friday | Public Holiday |
| 9 Apr | Easter Sunday | Public Holiday |
| 10 Apr | Easter Monday | Public Holiday |
| 1 May | May Day | Public Holiday |
| 18 May | Ascension Day | Public Holiday |
| 28 May | Whit Sunday | Public Holiday |
| 6 Jun | National Day | Public Holiday |
| 24 Jun | Midsummer Day | Public Holiday |
| 4 Nov | All Saints’ Day | Public Holiday |
| 25 Dec | Christmas Day | Public Holiday |
| 26 Dec | 2nd Day of Christmas | Public Holiday |
Employee Leaves
| Type of Leave | Time Period | Mandatory |
| Annual/Earned Leave | 25 days | Yes |
| Sick Leave | 14 days | Yes |
| Maternity Leave | 14 weeks | Yes |
Payroll
Payroll Cycle
The employee in Sweden must be paid monthly.
Minimum Wage
There is no official minimum wage in Sweden. The employer directly negotiates the rate through a collective bargaining agreement.
Overtime Pay
Employees are allowed to work for a maximum of 50 hours of overtime in a month and the employee is usually paid at a rate of 50% to 100%.
Bonus
13th Month Pay
There is no specific provision for a 13th-month salary in Sweden.
Employee Benefits
- Private medical insurance
- Sickness & Disability
- Life insurance
- Work injury insurance
Taxes
Employer Payroll Tax
| Category | Contributions |
| Social Security | 31.42% |
Employee Payroll Tax
| Category | Contributions |
| Pension | 7% (upto SEK 40,100) |
Employee Income Tax
| Annual Taxable | National Income Tax | Municipal Income Tax |
| From 0 to 540,700 | 0 | 32% |
| Over 540,700 | 20% | 32% |
VAT
The standard VAT rate in Sweden is between 6% and 25%.
Offboarding & Termination
A notice may or may not be given when terminating an employee in Sweden. However, employers must have a clear and justifiable basis for making the decision.
The Notice Period in Sweden will be up to 6 months.
There are no provisions regarding severance pay in Sweden. However, employees may receive severance pay if it is indicated in their employment agreement with their employers upon onboarding.
Visa and Immigration
There are seven types of Swedish work visas that foreign employees may apply for based on the purpose and duration of their employment. Below are the following:
- Sweden Work Permit
- Intra-company Transfer
- Business Visa
- Self-employment visa
- Working Holiday visa
- EU Blue Card
