Sveriges Ingenjörer
Nyheter 13 juni 2023

The industries with the highest salaries for engineers

The highest average salaries are found in the real estate industry, followed by the finance industry. Engineer salaries vary significantly depending on the industry, according to new statistics from Sveriges Ingenjörer (Swedish Engineers).

The choice of industry has a significant impact on engineers' salaries. For a civil engineer, the median salary can differ by up to 30,000 kronor depending on the industry. The highest median salaries for those with a Master of Science in Engineering (MSE) are found in the real estate industry, followed by the banking, finance, and insurance industries, with monthly salaries of 79,800 kronor and 73,500 kronor, respectively. However, in some consulting industries, the average salaries are just over 51,000 kronor. Therefore, the salary differences between different industries can amount to over 50 percent.

"Where salaries are the highest, there is also a higher proportion of specialists and managers. Additionally, both the age structure and the right to overtime compensation vary between industries. It is furthermore not surprising that industries with a higher proportion of younger employees have lower salaries than the average," says Johan Kreicbergs, Chief Economist and Head of Public Affairs at Sveriges Ingenjörer.

The average salaries per industry for those with a Bachelor of Engineering (BENG) follow a similar pattern to those with a MSE, but the salary levels are lower. The median salary is 61,700 kronor for those with a BENG in the real estate industry, followed by 61,400 kronor in the banking, finance, and insurance industries.

A more detailed analysis that takes into account education, age structure, position, and overtime compensation reduces the percentage salary differences. At the top of the list is the finance industry, with salaries 25 to 30 percent higher than those in the chemical industry, forest industry, and steel industry.

"It is alarming that the relative salaries level is so low in the chemical, forest, and steel industries. Today, the unemployment rate among engineers is at a record low, and it may be challenging for heavy industries to attract the necessary talent," says Johan Kreicbergs.

Average Salaries for MSE by Industry (Private Sector):

Industry and Median Salary

Real Estate                                                         79,800 SEK

Banking, Finance, and Insurance                       73,500 SEK

Consulting – Management, Strategy                  65,000 SEK

Data, IT, and Telecom                                         64,900 SEK

Transportation, Logistics and Public Transport    63,600 SEK


Average Salaries for BENG by Industry (Private Sector)

Industry and Median Salary

Real Estate                                                       61,700 SEK

Banking, Finance, and Insurance                      61,400 SEK

Consulting – Management, Strategy                 58,600 SEK

Manufacturing and Industrial - Food                 58,100 SEK

Data, IT, and Telecom                                       56,500 SEK


Relative Salary Levels by Industry in the Private Sector (MSE and BENG)

Industry Salary Level (100 is the national average)

Banking, Finance, and Insurance      119

Consulting - Management, Strategy  115

Real Estate                                       115

Data, IT, and Telecom                       107

Consulting - Data/IT                         103


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