62 INGENJÖREN • 2024 The average salary for engineers is highest in the real estate industry. IT and technology consultants lag far behind. However, if you adjust for age, education level, managerial positions, and more, the picture changes. T he choice of industry matters for salary. This is confirmed by Sveriges Ingenjörer (Engineers of Sweden) in a report with statistics on engineers’ salaries in 19 private sector industries. In the real estate industry, the average salaries for engineers are nearly 78,000 SEK for engineers with a Masters degree and just over 65,000 SEK for engineers with a Bachelors degree. (see tables 1 and 2) However, if you conduct a more detailed analysis and take into account education level, age structure, job positions, and specific overtime compensation, the picture becomes partially different. In the real estate industry, there is a high proportion of managers among engineers, which explains the higher salaries. When you consider this factor, they slide down the list. In the consulting industries, it’s the opposite. There is a lower proportion of managers and executives, and consultants usually retain their overtime compensation. So, consultants climb higher in the rankings. (see table 3) At the top are the banking, finance, and insurance industries, with a relative salary level of 119. This means that individual salaries are 19 percent above the corresponding average for the entire private sector. At the bottom of the list is “Water supply, sewage treatment, waste management” (9 percent below the private sector average). Two criteria that are not considered in the relative salary level are geography and gender. The industries that are financially at the This is how much engineers earn in 19 industries INDUSTRY (PRIVATE SECTOR) AVERAGE MEDIAN Real estate business 77 767 71 132 Banking, finance, and insurance 75 191 67 124 Data, IT, and telecom 66 965 61 000 Consulting. Management, strategy, economics 66 603 60 000 Manufacturing and industry. Food 66 412 62 000 Transport, logistics, public transport 65 722 59 675 Life science 64 060 58 079 Manufacturing and industry. Electronics 63 750 59 100 Manufacturing and industry. Steel and metal 63 673 57 867 Manufacturing and industry. Other 63 390 58 500 Manufacturing and industry. Chemical/process 63 276 57 844 Manufacturing and industry. Forestry 63 244 57 714 Energy (supply of electricity, gas, heat, cooling) 60 912 57 000 Manufacturing and industry. Vehicles 59 704 55 550 Construction 59 677 54 349 Consulting. Data/IT 57 084 54 350 Water supply, sewage treatment, waste management 55 015 50 900 Consulting. Other 53 725 49 465 Consulting. Technical 53 168 50 220 TABLE 1. AVERAGE AND MEDIAN SALARY – MASTERS DEGREE Average and median salary by industry. (SEK per month) KNOW YOUR RIGHTS
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