Small pay boost for Swedish MDs

The salaries of managing directors rose on average by 5% during 2004 compared to the year before, according to the credit analysis company UC.

The research was based on all active limited companies where the same person was managing director in 2003 and 2004. The average annual income for an MD was 504,639 kronor.

However, the average for men was 40% higher than that for women. For male managing directors the average annual pay was 520,862 kronor, while women earned 373,170 kronor.

10% of the companies researched had a female MD, wrote UC in a press release.

According to Roland Sigbladh, responsible for UC’s company information, only the managing directors of the country’s biggest companies and companies which are making the biggest profits saw their salaries rise last year.

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TT/The Local