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Basic Economic Summary


  • Local Languages: Swedish, English
  • Capital: Stockholm
  • Currency: Swedish Krona
  • Population: 10.23 million
  • Date Format: yyyy/mm/dd

Useful Information

  • GDP Per Capita (in USD): 51,615.02 USD
  • Exchange Rate (SEK/USD): 0.116

Local Universities

Top Local Universities

University Rankings
Lund University Ranking in Sweden: 2, World Ranking: 113
KTH Royal Institute of Technology Ranking in Sweden: 4, World Ranking: 171
Uppsala University Ranking in Sweden: 1, World Ranking: 101
Chalmers University of Technology Ranking in Sweden: 8, World Ranking: 270
Stockholm University Ranking in Sweden: 6, World Ranking: 181

Salary Data

Average Salary of Jobs (Per Month)

The table below shows the average salaries of some jobs in Sweden. Please refer to SalaryExplorer for more information.

Job Title Average Salary Range (SEK) Average Salary Range (USD)
Surgeons/Doctors 88,900 to 255,000 10,338.96 - 29,656.19
Judges 74,700 to 214,000 8,687.52 - 24,887.94
Lawyers 60,500 to 173,000 7,036.08 - 20,119.69
Bank Managers 56,900 to 163,000 6,617.40 - 18,956.70
Chief Executive Officer 53,400 to 153,000 6,210.36 - 17,793.72
Chief Financial Officers 49,800 to 143,000 5,791.68 - 16,630.73

Talent Sourcing Tips


Employer Payroll Tax

The employer payroll tax is calculated as follows:

Category Rate
Retirement Pension Contribution 10.21%
General Payroll Tax 11.62%
Health Insurance 3.55%
Occupational Injury 0.02%
Parental Insurance 2.6%
Survivor’s Pension 0.60%
Labour Market Fee 2.64%
Total 31.24%

Employee Payroll Tax

The employee payroll tax is calculated as follows:

Category Rate
Pension Insurance 7%
Total 10.20%

Employee Income Tax

The income tax rate in Sweden is as follows:

Taxable income (SEK *) National income tax (%) Municipal income tax ** (%)
From 0 to 523,200 0.00 32.00
Over 523,200 20.00 32.00%

Minimum Wage & Payroll

Minimum Wage

There is no official minimum wage in Sweden.

Payroll Cycle

The employee must be paid monthly.


13th month salary

There is no specific provision of 13th month salary in Sweden

Working Hours & Statutory Leave

Working hours

The standard number of working hours in Sweden is 8 hours a day for 5 days or 40 hours a week. Employees are also entitled to a break after every 5 hours.

Overtime pay

Employees are allowed to work for a maximum of 50 hours overtime in a month and the employee is usually paid at a rate of 50% to 100%.

Public Holidays

Number of public holidays is 16 days. The list of holidays can be found here.


Annual Paid Leave

Annual leave in Sweden is for about 25 days.

Sick Leave

Under the Swedish law, people who are sick generally receive 80% of their salary from the employer for the first 14 days of their illness. Thereafter the employee can apply for sick benefits from the Swedish Social Insurance Agency.

Parental Leave

In Sweden, a total of 480 days of parental leave is allocated to both parents - 240 days each.

Offboarding & Termination

Termination Process

Termination in Sweden can take place with or without notice. However, a dismissal notice must be on objective grounds only.

Notice Period

The collective notice period is one month if the employee is employed for less than two years of service. It can be extended as follows:

  • 2 to 4 years - 2 months 
  • 4 to 6 years - 3 months 
  • 6 to 8 years - 4 months 
  • 8 to 10 years - 5 months 
  • Over 10 years - 6 months 

Severance Pay

There are no provisions regarding severance pay in Sweden.

Probation period

The probation labour contract is six months.



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