A person working as an Insurance Underwriter in Sweden typically earns around 33,900 SEK per month. Salaries range from 16,300 SEK (lowest) to 53,200 SEK (highest).
This is the average monthly salary including housing, transport, and other benefits. Insurance Underwriter salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Insurance Underwriter salaries in Sweden range from 16,300 SEK per month (minimum salary) to 53,200 SEK per month (maximum salary).
The median salary is 35,300 SEK per month, which means that half (50%) of people working as Insurance Underwriter(s) are earning less than 35,300 SEK while the other half are earning more than 35,300 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.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Insurance Underwriter(s) are earning less than 23,200 SEK while 75% of them are earning more than 23,200 SEK. Also from the diagram, 75% of Insurance Underwriter(s) are earning less than 46,000 SEK while 25% are earning more than 46,000 SEK.
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
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 Insurance Underwriter salaries by experience level and this is what we found.
An Insurance Underwriter with less than two years of experience makes approximately 19,100 SEK per month.
While someone with an experience level between two and five years is expected to earn 27,000 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 35,500 SEK per month, 31% more than someone with two to five years of experience.
Additionally, Insurance Underwriter(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 43,600 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 46,400 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 50,800 SEK per month, 10% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+42%|
|5 - 10 Years||+31%|
|10 - 15 Years||+23%|
|15 - 20 Years||+6%|
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 Insurance Underwriter salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of an Insurance Underwriter is 25,500 SEK per month.
While someone with a Bachelor's Degree gets a salary of 48,400 SEK per month, 90% more than someone having a Certificate or Diploma degree.
|Certificate or Diploma|
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Insurance Underwriter employees in Sweden earn 4% more than their female counterparts on average.
Insurance Underwriter(s) in Sweden are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
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.
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
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.
An Insurance Underwriter is considered to be a low 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.
66% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 34% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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.
The average salary for Insurance Underwriter is 25% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||62,900 SEK||+85%|
|Actuarial Assistant||44,700 SEK||+32%|
|Adjustment Insurance Clerk||17,300 SEK||-49%|
|Assistant Broker||29,900 SEK||-12%|
|Assistant Claims Manager||50,400 SEK||+49%|
|Associate Insurance Representative||24,200 SEK||-29%|
|Auditing Insurance Manager||69,900 SEK||+110%|
|Claim Advocacy Professional||45,800 SEK||+35%|
|Claims Adjuster||17,600 SEK||-48%|
|Claims Analyst||24,900 SEK||-27%|
|Claims Examiner||25,100 SEK||-26%|
|Claims Manager||68,800 SEK||+100%|
|Claims Processor||18,300 SEK||-46%|
|Claims Representative||21,600 SEK||-36%|
|Claims Resolution Specialist||49,600 SEK||+46%|
|Claims Supervisor||44,500 SEK||+31%|
|Complaints Specialist||43,700 SEK||+29%|
|Compliance Officer||36,700 SEK||+8%|
|Eligibility Specialist||45,500 SEK||+34%|
|Insurance Account Manager||56,400 SEK||+66%|
|Insurance Accounts Executive||48,600 SEK||+43%|
|Insurance Agent||27,900 SEK||-18%|
|Insurance Analyst||44,700 SEK||+32%|
|Insurance Appraiser||46,800 SEK||+38%|
|Insurance Claims Clerk||17,500 SEK||-48%|
|Insurance Examiner||43,600 SEK||+29%|
|Insurance Investigator||45,100 SEK||+33%|
|Insurance Manager||79,800 SEK||+140%|
|Insurance Operations Manager||83,200 SEK||+150%|
|Insurance Policy Processing Clerk||18,000 SEK||-47%|
|Insurance Pricing Assistant||37,400 SEK||+10%|
|Insurance Program Manager||60,800 SEK||+79%|
|Insurance Project Manager||59,100 SEK||+74%|
|Insurance Quality Assurance Agent||42,000 SEK||+24%|
|Insurance Sales Agent||29,000 SEK||-14%|
|Insurance Sales Director||77,600 SEK||+130%|
|Insurance Team Leader||49,200 SEK||+45%|
|Insurance Underwriter||33,900 SEK||-0%|
|Loss Control Specialist||47,000 SEK||+39%|
|Loss Prevention Investigator||51,000 SEK||+50%|
|Loss Prevention Manager||65,200 SEK||+92%|
|Loss Prevention Specialist||48,100 SEK||+42%|
|Marine Underwriter||33,400 SEK||-2%|
|Medical Auditor||47,100 SEK||+39%|
|Monitoring and Performance Officer||32,400 SEK||-4%|
|Payment Services Specialist||49,200 SEK||+45%|
|Policy Change Director||72,000 SEK||+110%|
|Policy Change Supervisor||50,200 SEK||+48%|
|Policy Change Technician||22,700 SEK||-33%|
|Risk Analyst||53,300 SEK||+57%|
|Risk Management Director||93,300 SEK||+180%|
|Risk Management Supervisor||60,800 SEK||+79%|
|Risk Manager||91,300 SEK||+170%|
|Risk Modeling Manager||83,300 SEK||+150%|
|Title Insurance Typist||42,000 SEK||+24%|
|Training Manager||52,200 SEK||+54%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Sweden earn 5% more than their private sector counterparts on average across all sectors.