Sweden

Last Update by Katie, 11 Jun 2024

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Exchange Rate

23 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Stockholm

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (SEK)
McDonalds Set Meal 100
Monthly Train and Bus Tickets 980
3 Bedrooms Rental (City Center) 24,985
3 Bedrooms Rental (Outskirt) 16,900

Current Inflation Rate

2%

Wage

Minimum Wages

  • There is no national minimum wage

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (SEK)
Entry-Level
Fresh Graduate
25,800
Mid-Level
5 Years
46,000
Experienced & Managerial Level
10 Years
75,600
Specialized & Senior-Level
15 Years
84,800+

Annual Salary Growth

3%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Health Insurance 3.55% 1.52% All staff
Parental Insurance 2.60% - All staff
Supplementary Pension 0.60% 7%
Based on income up to 599,250 SEK per year
Staff under 53 or over 62
Staff 53-62
Work Injury 0.20% - All staff
Labour Market Fee 2.64% - All staff
Pension Insurance 10.21% - All staff with income ceiling 47,748 SEK per month
Payroll tax 11.62% - Employer's monthly payroll bill

Other Benefit

Other common employment benefits in Sweden include:

  • Phone Allowance: Around 100 SEK / month
  • Meal Allowance: Around300 SEK / day
  • Christmas gifts: Around 550 SEK/ one off payment
  • Work from Home Allowance: 170 SEK/ month

Income Tax

Residents

  • Tax period: 1st January-31st December
    Filing start date: 2nd May
  • Taxes for employees aged under 65

Country Level

Taxable Income Rate
0- 24,237.99 0%
24,238 -80,900.99 10%
80,901 -185,700.99 21%
185,701 - 463,000.99 28%
463,001-598,500.99 34%
598,501.00 775,900.99 54
775,901 - 999,999,999 57

Non-residents

  • Taxed on income derived from sources in Sweden equal to residents

Working Hours

Statutory

40 Hours
8 hours a day, 5 days a week

Typical practice

40 Hours
Monday-Friday

Overtime

Maximum 50 hours per month, or 200 hours a year

  • Hours worked on weekdays before 20:00 : Monthly salary / 94 for each additional hour worked
  • Hours worked after 20:00 or weekends: Monthly salary rate /72 for each additional hour worked

Employment Contract

Permanent

Probation

6 months maximum and cannot be extended beyond 6 months

Termination

During probation: Employers and employees give 14 days notice
After probation:

  • - <2 years’ service: 1 month
    - 2-4 years’ service: 2 months
    - 4-6 years’ service: 3 months
    - 6-8 years’ service: 4 months
    - 8-10 years’ service: 5 months
    - >10 years’ service: 6 months
  • Severance:
    Not mandatory, unless it is stated in the contract.
    Employers usually pay severance in addition to notice in a settlement agreement where it is unclear whether just cause for termination exists.
    Managing directors: Notice and severance 6 - 12 months' fixed compensation

Public Holiday

11 days- public holidays that fall on weekends are usually lost

Country Level

Date Name
01 Jan New Year's Day
06 Jan Epiphany
29 Mar Good Friday
31 Mar Easter Sunday
01 Apr Easter Monday
01 May Labour Day
19 May Pentecost
06 Jun National Day
09 Jun Ascension Day
21 Jun - 22 Jun Midsummer Eve & Midsummer Day
02 Nov All Saints' Day
24 Dec Christmas Eve
25 Dec Christmas Day
26 Dec Second Day of Christmas
31 Dec New Years Eve

Leave

Leave Type Entitlement Notes
Annual Leave 25 working days All staff
Maternity Leave 14 weeks Expectant mothers
Paternity Leave 10 working days Expectant Parents
Parental Leave 480 working days Expectant parents (allowance can be shared)
Bereavement Leave 10 working days All staff
Sick Leave 2-14 working days
>14 working days
All staff paid by employer
All staff paid by social security

Reference

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