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.
Major economic hubs:
Stockholm, Gothenburg, Malmö
Skills in demand:
Construction, Engineering, Healthcare specialists, IT Specialists
Local Universities
The top local universities in Sweden are as follows:
Lunds Universitet
RANKING
Local: 1
World : 178
Uppsala Universitet
RANKING
Local: 2
World : 179
Kungliga Tekniska högskolan
RANKING
Local: 3
World : 194
Linköpings Universitet
RANKING
Local: 4
World : 222
Göteborgs universitet
RANKING
Local: 5
World : 265
Salary Data
The following table provides the average salary data in Sweden:
To onboard employees from Sweden, the employer should be knowledgeable about the Employment terms, Labor laws, deductions, and benefits. This section has all the necessary information that employers can use.
Employee Contract
The employer has to provide the employee with a written employment contract. According to Swedish laws, the contract must contain all the terms and conditions and the employer’s information. There is no statutory language preferred in Sweden’s employment contract. Employers must ensure that the contracts are in a language that is understood by all of the parties involved.
Probation Period
The probation period in Sweden will be based on the collective agreement.
Public and Provincial Holidays 2024
Date
Name
Type
1 Jan
New Year’s Day
Public holiday
6 Jan
Epiphany
Public holiday
29 Mar
Good Friday
Public holiday
31 Mar
Easter Sunday
Public holiday
1 Apr
Easter Monday
Public holiday
1 May
May 1st
Public holiday
9 May
Ascension Day
Public holiday
18 May
Whit Saturday
De facto holiday
19 May
Whit Sunday
Public holiday
6 Jun
National day
Public holiday
21 Jun
Midsummer Eve
De facto and Bank holiday
22 Jun
Midsummer Day
Public holiday
2 Nov
All Saints’ Day
Public holiday
24 Dec
Christmas Eve
De facto holiday
25 Dec
Christmas Day
Public holiday
26 Dec
Boxing Day
Public holiday
31 Dec
New Year’s Eve
De facto and Bank holiday
Employee Leaves
Type of Leave
Time Period
Mandatory
Annual/Earned Leave
25 days
Yes
Sick Leave
14 days
Yes
Maternity Leave
14 weeks
Yes
Payroll
Payroll Cycle
The employee in Sweden must be paid monthly.
Minimum Wage
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.
Overtime Pay
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%.
Bonus
13th Month Pay
There is no specific provision for a 13th-month salary in Sweden.
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.
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.
Visa and Immigration
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:
Sweden Work Permit
Intra-company Transfer
Business Visa
Self-employment visa
Working Holiday visa
EU Blue Card
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