Average monthly earnings up 4.2 per cent
Average monthly earnings for full-time employees in financial intermediation, excluding overtime, were NOK 59 300 as per 1 September 2014. This was a year-on-year increase of NOK 2 400, equivalent to 4.2 per cent.
|Monthly earnings||Basic monthly salary|
|2013||2014||2013 - 2014||2013||2014||2013 - 2014|
|Financial intermediation, total||56 900||59 300||4.2||50 200||51 800||3.2|
|Monetary and insurance intermediation||54 300||56 000||3.1||48 300||50 200||3.9|
|Other financial intermediation||64 600||70 000||8.4||55 900||57 000||2.0|
Financial intermediation includes two divisions; monetary and insurance intermediation and other financial intermediation. Average monthly earnings in monetary and insurance intermediation amounted to NOK 56 000, which was an increase of 3.1 per cent compared to last year. In contrast, employees in other financial intermediation amounted to NOK 70 000, which was an increase of 8.4 per cent from 2013.
The statistics are based on information from a sample of enterprises covering a total of 38 404 full-time employees and 3 521 part-time employees. According to the Norwegian Central Register of Enterprises and Establishments as per September 2014, financial intermediation comprises in total 45 000 employees.
The term average monthly earnings is the main term in Statistics Norway's wage statistics. Monthly earnings cover basic salaries, variable additional allowances and bonuses. Payment for overtime work is not included, but is presented in the statistics separately. Basic salary for financial intermediation is measured as per 1 September, while bonuses, variable additional allowances and payment for overtime work are calculated from the annual sum as a monthly average.
The statistics is published with Earnings.