This year’s highest-paying company is the Chinese telecom firm Huawei, which has climbed to first place. Its 194 employees receive an average annual salary of SEK 2.3 million. In second place is a software company and in third place a security firm. For the first time, every company on the top list pays an average annual salary above one million kronor. The majority operate within tech, investment and pharmaceuticals — but the list also includes residential developers, elite football clubs and tobacco retailers.
Credit reporting company Creditsafe presents the companies that pay the highest average salaries to their employees. The list includes Swedish limited companies with at least 50 employees and is based on the companies’ own annual reports submitted to the Swedish Companies Registration Office (Bolagsverket).
The number of companies paying seven-figure salaries is growing rapidly
On this year’s salary leaderboard there are six companies paying an average yearly salary above SEK 2 million, with the top company paying one million more on average than the second. In just two years, the number of Swedish companies offering seven-figure average salaries has risen from 82 to 136. In addition, 17 of the 20 highest-paying companies increased their average salaries compared with the previous year.
“We see a clear salary increase across the top-100 list. These are successful companies that have developed strongly during the past year and are competing to attract the most qualified and ambitious talent. Inflation has likely contributed to pushing wages up, and retaining top performers requires higher pay,” says Henrik Jacobsson, CEO of Creditsafe.
28 newcomers on the list
The first new entrant is the consultancy Oliver Wyman, which lands at ninth place with an average annual salary of SEK 1,853,000. Next comes the Nordic banks’ joint project P27 Nordic Payments Platform, which appears at number 12 with an average salary of SEK 1,796,000 per employee.
Other newcomers this year include oil refinery St1 Refinery AB, gaming giant EA Digital Illusions CE, cybersecurity company Yubico and residential developer Bonava. The American entertainment company Walt Disney Company Nordic also makes a comeback.
Of the 28 new companies on this year’s list, ten are pharmaceutical companies. Overall, however, the total number of pharmaceutical firms remains unchanged from last year.
Generous pay packets in tech
Tech, finance and pharmaceutical companies make up 66 of the 100 highest-paying companies and continue to dominate the salary rankings. The largest increase this year is within technology firms, and especially more SaaS companies (Software as a Service) are gaining ground on the list.
“We see a record representation of tech companies on the pay list, which clearly reflects how the tech sector leads innovation and digital transformation. High salary levels, often combined with substantial bonus packages, indicate fierce competition for top talent. It’s not only about attracting new hires but also about retaining key people who drive company success,” Henrik says.
High compensation is also found at several industrial and manufacturing parent companies such as SSAB, Atlas Copco, Volvo, SKF, IKEA and Getinge — particularly global players with advanced technical solutions. The list also includes consultancies, telecom giants, law firms and security companies.
EQT Partners takes first place
Private equity firm EQT Partners cements its position as Sweden’s highest-paying company, with an average annual salary of SEK 3,643,000 for its 153 employees. Compared with the year before, average pay rose by SEK 648,000 per employee. Over the last decade, EQT has topped the list seven times. The parent company is also present on the list at number 18.
In second place is the American CRM system provider Salesforce, with an average salary cost of SEK 2,370,000 for its 509 employees. Third place is held by another American software company, Splunk, which pays SEK 2,263,000 per employee on average.
More women among the top companies
The number of companies with a majority female workforce has increased from 22 to 32. This means that high salaries are going to women to a greater extent than before. Even the top company, EQT Partners AB, has a majority female workforce.
“The development shows a positive trend where companies with more women in their workforce strengthen their position on the pay list,” Henrik says.
Almost 20,000 employees at the top companies
In total there are 19,776 employees at the highest-paying companies, up from 18,182. Of these, 42 percent are women, compared with 38 percent last year.
The largest employer among the top firms is the music streaming service Spotify AB at number 43, with 1,706 employees and an average salary of SEK 1,353,000. Consultancy The Boston Consulting Group Nordic AB, at number 16, employs 1,189 people and has an average salary of SEK 1,743,000.
Gothenburg doubles its number of companies
Gothenburg makes a big leap — rising from three to seven companies on the list. At the same time, Stockholm and Malmö lose companies. The Stockholm region has 81 companies on the list, two fewer than the previous year; this is the first time Stockholm’s dominance has not increased. The Malmö region has six companies on the list, two fewer than last year.
Linköping, Gävle, Helsingborg and Skövde are also represented on the top-100 list.
Companies that climbed the most
Telia Company AB has climbed 41 places to number 27 this year. The company’s 250 employees have an average annual salary of SEK 1,546,000, an increase of SEK 390,000 compared with the previous year. Atlas Copco Aktiebolag has also moved up 35 places to number 38, with an average salary of SEK 1,390,000 per employee, SEK 262,000 higher than the year before.
Finally, at this year’s 100th place sits the technology company Lenovo with an average salary of SEK 1,117,000 per employee. That is SEK 73,000 higher than the company in last year’s final position.