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/en/arbeid-og-lonn/statistikker/lonnfinans/aar
1361
Annual earnings increased by 6.1 per cent
statistikk
2002-12-20T10:00:00.000Z
Labour market and earnings
en
lonnfinans, Earnings in financial services, banking, insurance, financial servicesEarnings and labour costs, Labour market and earnings
false

Earnings in financial services, 1 September 2002

The 2015 wage statistics for all industrial sections and various areas in the public sector will be released collectively on 3 March 2016 in the statistics Earnings of all employees.

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Annual earnings increased by 6.1 per cent

The estimated average annual earnings for full-time employees in financial intermediation were NOK 395 300, an increase of NOK 22 900, 6.1 per cent from 2001. Employees in monetary intermediation and insurance had annual earnings of NOK 372 800 and employees in other financial intermediation NOK 474 500.

The estimated annual earnings are estimated by information from wage statistics from at least two years and the quarterly wage index. The quarterly wage index is used to distribute the increase in wages through the year. The annual earnings measure the average earnings for a calendar year. Annual earnings do not include payment for overtime work. The estimated annual earnings for the current year are preliminary until wage statistics for the next year have been established.

 

Full-time employees in financial intermediation1. Average yearly earnings2,
by division. Per 1 September 2001-2002. NOK and annual percentage change
 
DivisionYearly earningsPercentage change
200120022001-2002
 
 NOKPer cent
Financial intermediation, total 372 400 395 3006.1
Monetary and insurance intermediation                        350 100           372 8006.5
Other financial intermediation 449 600 474 5005.5
 
1 NOS Standard Industrial Classification.
2 Prelimenary figures.

 

Average monthly earnings

The increase in monthly earnings for full-time employees in financial intermediation was 5.8 per cent, NOK 1 800 from 1 September 2001.

Average monthly earnings are the main term in Statistics Norways wage statistics. Monthly earnings cover basic paid salaries, variable additional allowances and bonuses, commissions and the like. Payment for overtime work is not included in monthly earnings. The increase in monthly earnings differs somewhat from the increase in annual earnings. Monthly earnings are compared at a specific date each year, while the change in annual earning is from one calendar year to the next.

6.8 per cent increase in monetary intermediation and insurance

For full-time employees in monetary intermediation and insurance the average monthly earnings were NOK 31 500, an increase of NOK 2 000, 6.8 per cent from the previous year.

About one half of all full-time employees in monetary intermediation and insurance were technicians and associate professionals. This occupational group includes customer consultants and executive officers with an average of NOK 26 700 in monthly earnings, an increase of NOK 2 000, 8.3 per cent.

By comparison, professionals such as advisers and senior consultants had NOK 34 600, an increase of NOK 1 800 or 5.6 per cent from the previous year. For senior officials and managers monthly earnings were NOK 46 700, up NOK 4 600 or 11 per cent. Clerks had NOK 22 900 in monthly earnings, which are NOK 1 300, 6 per cent more than the previous year.

3.4 per cent increase in other financial intermediation

This group consists of financial leasing, credit granting, and unit trust and security management.

For full-time employees in other financial intermediation the average monthly earnings were

NOK 39 500, an increase of NOK 1 300 or 3.4 per cent from the previous year.

The largest occupational group in other financial intermediation is clerks, technicians and associate professionals including about 50 per cent of all full-time employees. Clerks had an increase in monthly earnings of 6.9 per cent, while the increase for technicians and associate professionals was 1.1 per cent from the same time the previous year.

 

Full-time employees in financial intermediation1. Average monthly
earnings, by division. Per 1 September 2001-2002. NOK and annual
percentage change
 
DivisionMonthly earnings, totalPercentage change
20012200220012 -2002
 
Financial intermediation, total31 50033 3005.8
Monetary and insurance intermediation                    29 500          31 5006.8
Other financial intermediation38 20039 5003.4
 
1 NOS Standard Industrial Classification.
2 The figures are corrected.

 

About the statistical basis

The statistics are based on information from a sample of enterprises which covers a total of 35 626 full-time and 6 083 part-time employees. According to the preliminary figures from the National Accounts for the 3rd quarter of 2002, the statistics cover approximately 48 700 employed in financial intermediation except pension funds.

 

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