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.
Stockholm, Gothenburg, Malmö
Construction, Engineering, Healthcare specialists, IT Specialists
Top local universities of Sweden with world rank:
World : 178
World : 179
World : 194
World : 222
World : 265
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||9,146 USD|
|General Manager||84,900 SEK||8,297 USD|
|Business Development Manager||72,800 SEK||7,114 USD|
|Project Manager||51,700 SEK||5,052 USD|
|Business Analyst||59,800 SEK||5,844 USD|
|Financial Analyst||57,500 SEK||5,619 USD|
|Office Manager||40,000 SEK||3,909 USD|
The employee in Sweden must be paid monthly.
The new minimum salary, effective October 1, 2023 will be SEK 22,203 per month. For employees with secondary education, the minimum wage will be SEK 24,456.
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%.
There is no specific provision for a 13th-month salary in Sweden.
|Pension||7% (upto SEK 40,100)|
|Annual Taxable||National Income Tax||Municipal Income Tax|
|From 0 to 540,700||0||32%|
The standard VAT rate in Sweden is between 6% and 25%.
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.
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: