The Kingdom of Sweden is a Scandinavian country, a constitutional monarchy located in Northern Europe. It is the fifth largest in Europe. It borders Norway to the west and Finland to the northeast. The country is mostly associated with advanced technologies, high social standards and opportunities for realization. It is known for the decent standard of its citizens and occupies a leading position in the most prosperous countries in the world. Low crime, good ecology, quality education and medicine make Sweden a desirable country to live in. The unemployment rate is 7.7%. The population of the country exceeds 10.5 million, of which 500 thousand have no official job. Foreigners can easily find work, provided there are no applications for vacancies from local citizens. Regardless of the level of education, each employee receives comfortable working conditions and the opportunity for career growth.
Minimum wage in Sweden
The Kingdom of Sweden is part of the European Union and its national currency is the Swedish krona. There is no minimum wage definition regulated at the state level. The role in this case is taken by the Trade Unions, which determine the minimum wage through collective agreements between them and the employer. The minimum wage depends on education, occupation, total work experience, time of employment in one place, region of residence and other factors. Local citizens are not worried about the lack of a fixed minimum wage because they know that they are protected by collective agreements. The minimum wage is about 2,500 euros per month, which is quite high among developed countries. The working week varies between 35 – 40 hours, the leave due per year is 5-6 weeks, sick leave is paid up to 80% of the specified rate, which is more than in other countries.
Average salary
The average salary in Sweden is 4,500 euros and compared to other developed countries such as Germany and France is quite high, but this indicator ranks after countries such as Norway, Denmark and Switzerland. The tax burden is high and the salary after taxes is reduced by 35 to 50 %.
Salaries by occupation in Sweden
Several factors affect the amount of your salary, the main thing being what profession you have. A high-paying job can be found easily for people with higher education, qualifications and work experience. Young professionals do not apply for large salaries at the beginning, and with the time of their career development they reach high pay. Thanks to the country’s policy of raising social standards, many jobs are created in the country every year.
For foreigners, the main areas in which employees are sought are services, construction and seasonal work.
The most popular professions in the country are in the field of inpharmacy technologies, medicine, scientific developments and green energy.
The highest salaries are offered to managers, doctors, engineers, IT specialists, teachers.
Here are some of the salaries by profession in euros:
§ Business Managers and Company Executives 7 415
§ Doctors & narrow specialists 7 330
§ Engineers 4 155
§ IT Pros 4 830
§ Teachers 3 905
§ Architects 3 700
Service employees receive the lowest salaries such as waiters, nannies, maids, cleaners and others up to 2,500 euros.
Wages by region
Salaries in Sweden depend not only on the profession, but also on the region of residence. For example, the highest salary is provided by work in the capital Stockholm. In other regions, the income gap is negligible. Most receive in southern and western Sweden, and least in north Sweden.
Payroll taxes
The average salary in Sweden after tax has been reduced by up to 50% and this is one of the highest tax rates in the European Union. Despite the extremely high rates of payroll taxes in Sweden, the majority of local workers have a rather positive attitude towards the existing tax system in the country and strictly fulfill their obligations. As a result, the level of social protection, public services and income distribution in Sweden is considered as the benchmark. Income tax is levied at two levels – national and municipal. In the second case, the percentage varies by region and averages 32.12%.
Examples: If the total income for a year is up to 613,900 CZK/54,156 euros, no national tax is paid, but only municipal 32.12 % In case the income is over 613,900 CZK/54,156 euros, in addition to the municipal tax, 20% national tax is charged.
Cost of living in Sweden
Despite the high wages and costs are high, with the main part going to rent or mortgage.
House prices depend on the region and city, with the most expensive in the capital and major cities from 800 to 1,200 euros per month. Utilities account for 12 – 14 % wage cost.
Food prices are one of the highest among European countries due to the fact that few products are produced in the country, and most are imported.
For clothing, the costs are not large, because there is a sufficient number of branded stores of popular cheap brands.
Prices for public transport per month are 75 euros, for internet use 27 euros.
Costs related to education in kindergartens and schools depend on the educational institution and region of residence.
Important: Non-residents who have received employment for a period of no more than 183 days a year pay wage tax at a flat rate of 20%, regardless of the amount of annual income.