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Accountant Average Salary in Sweden 2020

How much money does an Accountant make in Sweden?


Average Monthly Salary
83,600 SEK
( 1,000,000 SEK yearly)

LOW
40,100
SEK
AVERAGE
83,600
SEK
HIGH
131,000
SEK

A person working as an Accountant in Sweden typically earns around 83,600 SEK per month. Salaries range from 40,100 SEK (lowest) to 131,000 SEK (highest).

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

Accountant Salary Distribution in Sweden

Median and salary distribution monthly Sweden Accountant
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accountant salaries in Sweden range from 40,100 SEK per month (minimum salary) to 131,000 SEK per month (maximum salary).

  • Median Salary

    The median salary is 86,900 SEK per month, which means that half (50%) of people working as Accountant(s) are earning less than 86,900 SEK while the other half are earning more than 86,900 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 Accountant(s) are earning less than 57,200 SEK while 75% of them are earning more than 57,200 SEK. Also from the diagram, 75% of Accountant(s) are earning less than 113,000 SEK while 25% are earning more than 113,000 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

Accountant Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Sweden Accountant
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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 Accountant salaries by experience level and this is what we found.

An Accountant with less than two years of experience makes approximately 47,000 SEK per month.

While someone with an experience level between two and five years is expected to earn 66,500 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 87,500 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, Accountant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 108,000 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 114,000 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 125,000 SEK per month, 10% more than people with fifteen to twenty years of experience.


Accountant average salary change by experience in Sweden

0 - 2 Years
47,000 SEK
2 - 5 Years+42%
66,500 SEK
5 - 10 Years+31%
87,500 SEK
10 - 15 Years+23%
108,000 SEK
15 - 20 Years+6%
114,000 SEK
20+ Years+10%
125,000 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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Accountant Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Sweden Accountant
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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 Accountant salaries by education level in order to make a comparison.

When the education level is High School, the average salary of an Accountant is 58,300 SEK per month.

While someone with a Certificate or Diploma gets a salary of 67,500 SEK per month, 16% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 98,400 SEK per month, 46% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 121,000 SEK per month, 23% more than someone with Bachelor's Degree.


Accountant average salary difference by education level in Sweden

High School
58,300 SEK
Certificate or Diploma+16%
67,500 SEK
Bachelor's Degree+46%
98,400 SEK
Master's Degree+23%
121,000 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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Accountant Salary Comparison By Gender

Salary comparison by gender monthly Sweden Accountant
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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 Accountant employees in Sweden earn 5% more than their female counterparts.

Female
81,800 SEK
Male+5%
85,600 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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Accountant Average Annual Salary Increment Percentage in Sweden

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

Accountant

Accountant(s) in Sweden are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate Sweden Accountant
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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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Accountant Bonus and Incentive Rates in Sweden

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Sweden Accountant
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An Accountant is considered to be a moderate 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.

41% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 59% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
59%
No Bonus
41%

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 Accountant 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

Accountant Salary Trend and Forecast in Sweden

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

Salary trends and forecast monthly Sweden Accountant
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Average Salary 2016
74,900 SEK
Average Salary 2017+4%
77,600 SEK
Average Salary 2018+3%
80,000 SEK
Average Salary 2019+3%
82,000 SEK
Percentage increase and decrease are relative to the previous value

Accountant 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.

Accountant Average Hourly Wage in Sweden


480 SEK per hour

The average hourly wage (pay per hour) in Sweden is 480 SEK. This means that the average Accountant in Sweden earns approximately 480 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.

Accountant VS Other Jobs

Salary Comparison Between Accountant and Accounting and Finance monthly Sweden
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The average salary for Accountant is 26% less than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner76,300 SEK-9%
Account Executive109,000 SEK+30%
Accountant83,600 SEK+0%
Accounting Assistant81,200 SEK-3%
Accounting Associate79,700 SEK-5%
Accounting Clerk59,900 SEK-28%
Accounting Coordinator68,500 SEK-18%
Accounting Manager151,000 SEK+81%
Accounting Supervisor113,000 SEK+35%
Accounting Technician70,800 SEK-15%
Accounts Executive105,000 SEK+26%
Accounts Payable and Receivable Specialist92,600 SEK+11%
Accounts Payable Clerk59,500 SEK-29%
Accounts Payable Manager122,000 SEK+46%
Accounts Receivable Clerk65,100 SEK-22%
Accounts Receivable Manager131,000 SEK+57%
Assistant Accounting Manager105,000 SEK+26%
Assistant Auditor86,000 SEK+3%
Audit Supervisor164,000 SEK+96%
Auditing Clerk82,700 SEK-1%
Auditing Manager161,000 SEK+93%
Billing Coordinator94,600 SEK+13%
Billing Specialist91,400 SEK+9%
Billing Supervisor114,000 SEK+36%
Bookkeeper63,800 SEK-24%
Bookkeeping Specialist81,000 SEK-3%
Budget Analyst99,600 SEK+19%
Budget Manager147,000 SEK+76%
Business Support Analyst105,000 SEK+26%
Capital Markets Associate126,000 SEK+51%
Cash Flow Analyst125,000 SEK+50%
Cash Management Officer108,000 SEK+29%
Cashbook Clerk73,100 SEK-13%
Chartered Accountant100,000 SEK+20%
Collections Clerk60,200 SEK-28%
Collections Specialist80,400 SEK-4%
Corporate Treasurer212,000 SEK+150%
Cost Accountant98,500 SEK+18%
Cost Accounting Manager130,000 SEK+56%
Cost Analyst123,000 SEK+47%
Credit and Collection Manager142,000 SEK+70%
Credit and Collection Staff66,600 SEK-20%
Credit and Loans Officer70,100 SEK-16%
Credit Controller116,000 SEK+39%
Debt Adviser148,000 SEK+77%
Debt Collector105,000 SEK+26%
Debtors Clerk85,300 SEK+2%
Deputy CFO217,000 SEK+160%
Derivative Trader167,000 SEK+100%
Escrow Assistant91,800 SEK+10%
External Auditor120,000 SEK+44%
Finance Associate88,100 SEK+5%
Finance Executive192,000 SEK+130%
Finance Licensing Clerk77,100 SEK-8%
Finance Licensing Manager124,000 SEK+48%
Finance Licensing Specialist98,800 SEK+18%
Finance Officer140,000 SEK+67%
Finance President242,000 SEK+190%
Finance Relationship Manager162,000 SEK+94%
Finance Release Analyst112,000 SEK+34%
Finance Team Leader 132,000 SEK+58%
Financial Actuary122,000 SEK+46%
Financial Administrator101,000 SEK+21%
Financial Analyst120,000 SEK+44%
Financial Applications Specialist83,500 SEK-0%
Financial Assistant76,400 SEK-9%
Financial Associate86,100 SEK+3%
Financial Claims Analyst110,000 SEK+32%
Financial Claims Manager125,000 SEK+50%
Financial Commercial Analyst107,000 SEK+28%
Financial Compliance Analyst126,000 SEK+51%
Financial Consultant109,000 SEK+30%
Financial Controller118,000 SEK+41%
Financial Coordinator103,000 SEK+23%
Financial Customer Service Manager136,000 SEK+63%
Financial Dealer and Broker102,000 SEK+22%
Financial Encoder69,000 SEK-17%
Financial Manager231,000 SEK+180%
Financial Operations Manager165,000 SEK+97%
Financial Policy Analyst117,000 SEK+40%
Financial Project Manager116,000 SEK+39%
Financial Quantitative Analyst128,000 SEK+53%
Financial Reporting Consultant111,000 SEK+33%
Financial Reporting Manager143,000 SEK+71%
Financial Services Sales Agent108,000 SEK+29%
Fixed Assets Administrator92,300 SEK+10%
Forensic Accountant91,100 SEK+9%
Fraud Detection Supervisor107,000 SEK+28%
Fraud Prevention Manager165,000 SEK+97%
Fund Accountant85,500 SEK+2%
Grants Coordinator75,300 SEK-10%
Internal Auditor122,000 SEK+46%
Internal Control Adviser120,000 SEK+44%
Internal Control Officer102,000 SEK+22%
Inventory Accountant194,000 SEK+130%
Investment Analyst153,000 SEK+83%
Investment Fund Manager166,000 SEK+99%
Investment Underwriter75,200 SEK-10%
Investor111,000 SEK+33%
Investor Relations Manager150,000 SEK+79%
KYC Team Leader148,000 SEK+77%
Management Economist134,000 SEK+60%
Paymaster92,900 SEK+11%
Payroll Clerk68,000 SEK-19%
Payroll Manager117,000 SEK+40%
Pensions Administrator93,000 SEK+11%
Pricing Analyst127,000 SEK+52%
Private Equity Analyst130,000 SEK+56%
Proposal Development Coordinator91,500 SEK+9%
Receivables Accountant81,700 SEK-2%
Regulatory Accountant89,900 SEK+8%
Retirement Plan Analyst117,000 SEK+40%
Revenue Management Specialist99,400 SEK+19%
Revenue Recognition Analyst153,000 SEK+83%
Risk Management Director191,000 SEK+130%
Risk Management Supervisor148,000 SEK+77%
Tax Accountant85,800 SEK+3%
Tax Advisor113,000 SEK+35%
Tax Associate92,600 SEK+11%
Tax Manager179,000 SEK+110%
Teller51,500 SEK-38%
Treasury Accountant91,200 SEK+9%
Treasury Analyst125,000 SEK+50%
Underwriter71,900 SEK-14%
Underwriting Assistant66,400 SEK-21%
Vice President of Finance165,000 SEK+97%

Salary Comparison By City

CityAverage Salary
Goteborg85,600 SEK
Malmo77,000 SEK
Stockholm93,400 SEK
28667 - 3

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