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Bank Branch Manager Average Salary in Sweden 2020

How much money does a Bank Branch Manager make in Sweden?


Average Monthly Salary
178,000 SEK
( 2,140,000 SEK yearly)

LOW
85,400
SEK
AVERAGE
178,000
SEK
HIGH
279,000
SEK

A person working as a Bank Branch Manager in Sweden typically earns around 178,000 SEK per month. Salaries range from 85,400 SEK (lowest) to 279,000 SEK (highest).

This is the average monthly salary including housing, transport, and other benefits. Bank Branch Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Bank Branch Manager Salary Distribution in Sweden

Median and salary distribution monthly Sweden Bank Branch Manager
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The median, the maximum, the minimum, and the range

  • Salary Range

    Bank Branch Manager salaries in Sweden range from 85,400 SEK per month (minimum salary) to 279,000 SEK per month (maximum salary).

  • Median Salary

    The median salary is 185,000 SEK per month, which means that half (50%) of people working as Bank Branch Manager(s) are earning less than 185,000 SEK while the other half are earning more than 185,000 SEK. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Bank Branch Manager(s) are earning less than 122,000 SEK while 75% of them are earning more than 122,000 SEK. Also from the diagram, 75% of Bank Branch Manager(s) are earning less than 242,000 SEK while 25% are earning more than 242,000 SEK.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Bank Branch Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Sweden Bank Branch Manager
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Bank Branch Manager salaries by experience level and this is what we found.

A Bank Branch Manager with less than two years of experience makes approximately 100,000 SEK per month.

While someone with an experience level between two and five years is expected to earn 142,000 SEK per month, 42% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 186,000 SEK per month, 31% more than someone with two to five years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Additionally, Bank Branch Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 229,000 SEK per month, 23% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 244,000 SEK per month, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 267,000 SEK per month, 10% more than people with fifteen to twenty years of experience.


Bank Branch Manager average salary change by experience in Sweden

0 - 2 Years
100,000 SEK
2 - 5 Years+42%
142,000 SEK
5 - 10 Years+31%
186,000 SEK
10 - 15 Years+23%
229,000 SEK
15 - 20 Years+6%
244,000 SEK
20+ Years+10%
267,000 SEK
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Bank Branch Manager Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Bank Branch Manager(s) who have the same experience but different education levels.

Salary comparison by education level monthly Sweden Bank Branch Manager
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Bank Branch Manager salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of a Bank Branch Manager is 157,000 SEK per month.

While someone with a Master's Degree gets a salary of 225,000 SEK per month, 43% more than someone having a Bachelor's Degree degree.


Bank Branch Manager average salary difference by education level in Sweden

Bachelor's Degree
157,000 SEK
Master's Degree+43%
225,000 SEK
Percentage increase and decrease are relative to the previous value

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Sweden costs anywhere from 585,000 Swedish Krona(s) to 1,750,000 Swedish Krona(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Bank Branch Manager Salary Comparison By Gender

Salary comparison by gender monthly Sweden Bank Branch Manager
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Bank Branch Manager employees in Sweden earn 5% more than their female counterparts.

Female
174,000 SEK
Male+5%
182,000 SEK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Sweden for all Careers

Salary comparison by gender monthly Sweden
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Bank Branch Manager Average Annual Salary Increment Percentage in Sweden

How much are annual salary increments in Sweden for Bank Branch Manager(s)? How often do employees get salary raises?

Bank Branch Manager

Bank Branch Manager(s) in Sweden are likely to observe a salary increase of approximately 12% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate Sweden Bank Branch Manager
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Sweden / All Professions

Annual Salary Increment Rate Sweden
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The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Sweden is 6%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Listed above are the average annual increase rates for each industry in Sweden for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Bank Branch Manager Bonus and Incentive Rates in Sweden

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Sweden Bank Branch Manager
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A Bank Branch Manager is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

15% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 85% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
85%
No Bonus
15%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Sweden
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Where can you get paid more, working for a private company or for the government? Public sector Bank Branch Manager employees in Sweden earn 5% more than their private sector counterparts.

Private Sector
114,000 SEK
Public Sector+5%
120,000 SEK
Percentage increase and decrease are relative to the previous value

Bank Branch Manager Salary Trend and Forecast in Sweden

How are Bank Branch Manager salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Sweden Bank Branch Manager
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Average Salary 2016
159,000 SEK
Average Salary 2017+4%
165,000 SEK
Average Salary 2018+3%
170,000 SEK
Average Salary 2019+3%
175,000 SEK
Percentage increase and decrease are relative to the previous value

Bank Branch Manager salaries in Sweden are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Bank Branch Manager Average Hourly Wage in Sweden


1,030 SEK per hour

The average hourly wage (pay per hour) in Sweden is 1,030 SEK. This means that the average Bank Branch Manager in Sweden earns approximately 1,030 SEK for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Bank Branch Manager VS Other Jobs

Salary Comparison Between Bank Branch Manager and Banking monthly Sweden
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The average salary for Bank Branch Manager is 35% more than that of Banking. Also, Banking salaries are 13% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
AML Analyst160,000 SEK-10%
Assistant Bank Branch Manager156,000 SEK-12%
Assistant Bank Manager169,000 SEK-5%
ATM Manager160,000 SEK-10%
ATM Service Technician85,200 SEK-52%
Bank Accounts Analyst113,000 SEK-37%
Bank Accounts Controller117,000 SEK-34%
Bank Accounts Executive128,000 SEK-28%
Bank Accounts Manager138,000 SEK-22%
Bank Auditing Manager146,000 SEK-18%
Bank Branch Manager178,000 SEK-0%
Bank Clerk84,300 SEK-53%
Bank Compliance Specialist121,000 SEK-32%
Bank Manager248,000 SEK+39%
Bank Operational Risk Manager187,000 SEK+5%
Bank Operations Head194,000 SEK+9%
Bank Operations Officer111,000 SEK-38%
Bank Operations Specialist154,000 SEK-13%
Bank Process Manager133,000 SEK-25%
Bank Product Manager 128,000 SEK-28%
Bank Programme Manager166,000 SEK-7%
Bank Project Manager159,000 SEK-11%
Bank Propositions Manager162,000 SEK-9%
Bank Quantitative Analyst123,000 SEK-31%
Bank Regional Manager180,000 SEK+1%
Bank Regional Risk Officer123,000 SEK-31%
Bank Relationship Manager149,000 SEK-16%
Bank Relationship Officer114,000 SEK-36%
Banker118,000 SEK-34%
Banking Business Analyst134,000 SEK-25%
Banking Business Development Officer109,000 SEK-39%
Banking Business Planning Executive175,000 SEK-2%
Banking Product Manager159,000 SEK-11%
Banking Reference Data Manager142,000 SEK-20%
Banking Risk Analyst126,000 SEK-29%
Banking Technical Analyst116,000 SEK-35%
Bankruptcy Coordinator139,000 SEK-22%
Budget Analyst136,000 SEK-24%
Cards Marketing Manager161,000 SEK-10%
Cash Management Manager173,000 SEK-3%
Check Processing Manager166,000 SEK-7%
Commercial Vault Associate134,000 SEK-25%
Corporate Dealer132,000 SEK-26%
Credit Analyst151,000 SEK-15%
Credit and Collections Manager163,000 SEK-8%
Credit Card Fraud Investigator139,000 SEK-22%
Credit Portfolio Manager200,000 SEK+12%
Credit Risk Analyst158,000 SEK-11%
Credit Risk Associate135,000 SEK-24%
Direct Bank Sales Representative127,000 SEK-29%
Financial Bank Planning Consultant148,000 SEK-17%
Financial Banking Analysis Manager172,000 SEK-3%
Financial Banking Assistant106,000 SEK-40%
Financial Banking Systems Manager152,000 SEK-15%
Foreign Exchange Manager160,000 SEK-10%
Fraud Analyst141,000 SEK-21%
Fraud Detection Associate133,000 SEK-25%
Fraud Detection Manager171,000 SEK-4%
Fraud Detection Supervisor136,000 SEK-24%
Internal Bank Audit Manager176,000 SEK-1%
Internal Bank Auditor130,000 SEK-27%
International Banking Manager224,000 SEK+26%
Loan Analyst127,000 SEK-29%
Loan Area Manager142,000 SEK-20%
Loan Audit Team Leader144,000 SEK-19%
Loan Branch Manager144,000 SEK-19%
Loan Business Development Officer124,000 SEK-30%
Loan Clerk93,600 SEK-47%
Loan Collection Manager147,000 SEK-17%
Loan Collector82,400 SEK-54%
Loan Examiner105,000 SEK-41%
Loan Processing Manager130,000 SEK-27%
Loan Processor122,000 SEK-31%
Loan Quality Assurance Auditor127,000 SEK-29%
Loan Quality Assurance Manager143,000 SEK-20%
Loan Quality Assurance Representative115,000 SEK-35%
Loan Review Manager131,000 SEK-26%
Loan Team Leader132,000 SEK-26%
Mortgage Advisor127,000 SEK-29%
Mortgage Collection Manager144,000 SEK-19%
Mortgage Collector99,100 SEK-44%
Mortgage Credit Analyst115,000 SEK-35%
Mortgage Credit Manager132,000 SEK-26%
Mortgage Development Manager164,000 SEK-8%
Mortgage Document Reviewer95,700 SEK-46%
Mortgage Funding Manager154,000 SEK-13%
Mortgage Operations Manager177,000 SEK-1%
Mortgage Payment Processing Clerk92,900 SEK-48%
Mortgage Processing Manager141,000 SEK-21%
Mortgage Processor101,000 SEK-43%
Mortgage Quality Assurance Auditor134,000 SEK-25%
Mortgage Quality Assurance Manager141,000 SEK-21%
Mortgage Servicing Clerk80,000 SEK-55%
Mortgage Servicing Manager141,000 SEK-21%
Mortgage Underwriter98,500 SEK-45%
Online Banking Manager189,000 SEK+6%
Payment Processing Clerk92,800 SEK-48%
Personal Banker134,000 SEK-25%
Personal Banking Advisor 136,000 SEK-24%
Phone Banker112,000 SEK-37%
Private Banker135,000 SEK-24%
Reconciliation and Investigation Specialist127,000 SEK-29%
Teller79,700 SEK-55%
Trade Officer95,900 SEK-46%
Trade Product Manager143,000 SEK-20%
Trader115,000 SEK-35%
Treasury Operations Officer119,000 SEK-33%

Salary Comparison By City

CityAverage Salary
Goteborg183,000 SEK
Malmo165,000 SEK
Stockholm200,000 SEK
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