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How to use statistics in salary discussions

Every year, we produce unique salary statistics for the industry, in collaboration with BAO, the Swedish Banking Employers’ organization. This information is invaluable in salary discussions.

We collect salary information about everyone in the industry covered by collective agreements between BAO and Finansförbundet. Only by joining Finansförbundet can you get access to this comprehensive data. 

The benefits of membership

– It’s uncommon to have access to such accurate salary statistics. I think everyone should use this resource before entering into salary discussions. It's a benefit that is only available to our members, says Viktor Källqvist, our head of negotiations.

How salaries are compared

We compare salaries with a code system called BESTA, Befattningsgrupperingar för Statistik (Occupation Grouping for Statistics). The system classifies and groups information according to specific types of job. With this information, you can make accurate comparisons between the salaries of employees in similar occupations. 

Location matters

Our BESTA codes are broken down into age groups, although they do not take experience into account. It’s important to consider the relevance of location in relation to salaries. For this reason, we have specific statistics for positions in Stockholm, in comparison with the rest of the country. 

 – It’s important to know that metropolitan areas have higher salaries than smaller cities and towns. Supply and demand affect salaries - and demand is higher in the big cities, explains Viktor Källqvist. 

Differences between companies

In addition to overall salary information, we may also have statistics specific to your workplace. Although some employers may use other service codes, our BESTA codes are based on the large number of collective agreements we make with employers in the industry. Everyone covered by a collective agreement has a BESTA code linked to their position. If you are unsure of the correct BESTA code for your position, or think it’s incorrect, contact your local union representative.