I work at a Swedish company in Stockholm that has been acquired by PayPal and they have just rolled out the "new" compensation package for each individual, which means the following for me: Role: Software Engineer 3 (T24, Java backend) YOE: 4 (+ 1.5 years part-time internship during university) Degree: Computer Science BSc. Package: Base salary: SEK 540.000 (~ $55k), or SEK 45.000 per month, as it's more common here Yearly bonus target: 10% (can be between 0-20%) RSUs: $48.600 vested over 3 years Budget for education: €4000 (for attending conferences, courses, etc.) per year + There are other perks that are quite standard in Sweden: 32 days paid leave, pension contribution (~ $4k per year), health insurance (though public healthcare is free and quite good), phone plan, free breakfast, Friday beer, etc. I know those numbers are very low compared to US salaries, but maybe there are some Europeans here to share their opinions. I think SEK 45k per month is a bit low, in Stockholm most companies offer 50-55k on this level, on the other hand bonuses and RSUs are basically non-existent here (except bigger companies like Spotify, King, Klarna) so that makes the TC above average. What do you think? #paypal #europe #sweden
The question is - are the numbers pre tax?
Yes, all numbers are before tax. The budget for education and the pension contribution are tax-free.
I'm assuming iZettle? Definitely low for your YOE, I get 50k in Malmö for 1 YOE. For what it's worth, a Spotify recruiter told me that they pay 55-65k base for their level 2 engineers which would fit your levels of exp.
Which company in Malmö pays that much for 1 YOE? Is it some start up? Are you also a developer?
Hi, I know people on T24 getting 49000kr/month at iZettle. They got around RSU: 68K USD
If I got you correctly, your TC per year is around USD 75k per year. I definitely think it's low especially from what I have heard from my friends at Bloomberg London. I don't know about the living expenses in Stockholm though! For reference, in Bloomberg London, you can expect to get around GBP 120k per year as your total TC.
Yes, USD 75k per year sounds correct. London is well known for being one of the few places in Europe where you can get a 6-figure salary but the cost of living is quite high compared to the rest of Europe. Stockholm is cheaper, though still somewhat expensive: a 2-bedroom apartment in a nice area is around $1500, public transportation is $100 per month (at least it's good, no need for a car), an inexpensive meal downtown is around $12-14, a beer in a centrally located bar is around $6-12, etc. Google advertised a SWE job in Stockholm on LinkedIn and they wrote in the ad that the salary would be SEK 800k per year, nothing about bonuses and RSUs though. I did a little research now and according to Swedish official(-ish) statistics, the median SWE salary for all of Sweden in 2019 was SEK 45100 per month, which confirms my assumption that my SEK 45k per month is a bit below average (as salaries in Stockholm are usually the highest in Sweden). The question now is if they try to lowball me or maybe their plan is to pay below average base salaries and balance them out with bonuses and RSUs?