Earnings in financial services, 1 September 2006

During this period there was an increase in basic salary of NOK 1 300, or 3.8 per cent. Average bonus payment increased by NOK 1 500, or 47 per cent.

Monetary and insurance intermediation

Per 1 September 2006, the average monthly earnings in monetary and insurance intermediation were NOK 38 700, an increase of 5.8 per cent compared to 1 September 2005. The increase in bonus payment and basic salary were NOK 800 and NOK 1 300, respectively. For employees in monetary and insurance intermediation, the increase in basic salary contributed more to the growth in monthly earnings than bonus payment did during the same period.

Other financial intermediation

Full-time employees in other financial intermediation had average monthly earnings of NOK 51 900. Compared with the monthly earnings per 1 September 2005, this is an increase of NOK 5 100, equivalent to 11 per cent. Almost 80 per cent of the increase is due to higher levels of bonus payment. On average, NOK 9 900 of monthly earnings derived from bonuses during this period.

Gender differences

A comparison of monthly earnings of males and females shows that women earn 69.4 per cent of the average male salary. In 2004, females earned 73.3 per cent of men’s salary. This development is mainly a result of increasing bonus payments, since both the increase in bonus payment and the bonus level in general tend to be higher for men. There are also gender differences in educational levels and occupational structure that contribute to the difference in monthly earnings of men and women.

Annual earnings increased by 7. 4 per cent

The average annual earnings of full-time employees in financial intermediation were NOK 492 000 in 2006. Compared to the annual earnings in 2005, this is an increase of NOK 33 800, or 7.4 per cent. In monetary and insurance intermediation, the annual earnings went up by 5.8 per cent to NOK 458 300. In other financial intermediation, average annual earnings were NOK 619 200, an increase of 11.7 per cent from 2005 to 2006.

The estimated annual earnings are based on the assumption that salaries are paid for 12 months of the year, so that any holiday pay supplement is not included. Estimated annual earnings include basic paid wages and salaries, variable additional allowances and bonuses, but do not include overtime pay. For the calculation, information from wage statistics from two years is used as well as information from wage negotiations. The estimated annual earnings for the current year are preliminary until wage statistics for the next year have been established.

About the statistical basis

The statistics are based on information from a sample of enterprises which cover a total of 35 286 full-time employees. According to the preliminary figures from the National Accounts for the 2^{n d} quarter of 2006, the statistics cover approximately 48 700 employees in financial intermediation.

Tables:

• Table 1 Full-time employees in financial intermediation. Average monthly earnings, by division and occupational group per 1 September 2006. NOK
• Table 2 Full-time employees in financial intermediation. Estimated annual earnings, by division per 1 September 2002-2006. NOK and percentage change