Key Facts: Faroe Islands vs Sweden Wages
- Faroe Islands Minimum Wage
- No statutory minimum wage
- Sweden Minimum Wage
- No statutory minimum wage
- Faroe Islands Avg. Gross Monthly Salary
- kr34,278 /mo ($5,341.42 USD)
- Sweden Avg. Gross Monthly Salary
- kr40,000 /mo ($4,317.74 USD)
- Data Sources
- Statistics Faroe Islands (hagstova.fo) (2026-05-04), Medlingsinstitutet (Swedish National Mediation Office) (2026-02-24)
Faroe Islands 
Sweden
Updated 2026-05-04
Neither Faroe Islands nor Sweden has a statutory minimum wage, relying instead on collective bargaining or sectoral agreements. Average salaries are higher in Faroe Islands at $5,341/mo compared to $4,318/mo in Sweden.
Detailed Comparison
| Metric | Faroe Islands | Sweden |
|---|---|---|
| Avg. gross salary /mo | kr34,278 /mo $5,341.42 | kr40,000 /mo $4,317.74 |
| Avg. net salary /mo | N/A/mo | kr30,000 /mo $3,238.31 |
| Median individual income /yr | N/A/yr | kr367,000 /yr $39,615.29 |
Percentage differences are based on USD equivalent values. Positive means Faroe Islands is higher.
Work Week
- Faroe Islands
-
40 hrs/wk standard
Max 48 hrs/wk
Overtime : 1.5x pay
Standard workweek is 40 hours. Working conditions governed by collective agreements.
- Sweden
-
40 hrs/wk standard
Max 48 hrs/wk
Standard workweek is 40 hours (Working Hours Act / Arbetstidslagen). Maximum overtime is 48 hours over 4 weeks or 200 hours per calendar year. Overtime compensation is determined by collective agreements, not statute. Many agreements provide overtime at 150-200% of normal pay. EU Working Time Directive limits average to 48 hrs/week.
See this comparison from Sweden's perspective: Sweden vs Faroe Islands
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Faroe Islands vs New Zealand NZ$ 23.5 /hr Frequently Asked Questions
How much more does the average worker earn in Faroe Islands compared to Sweden?
The average gross salary in Faroe Islands is kr34,278/mo ($5,341.42 USD), compared to kr40,000/mo ($4,317.74 USD) in Sweden. In USD terms, workers in Faroe Islands earn approximately 24% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Faroe Islands and Sweden is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Faroe Islands earn more in nominal terms, though how far that income stretches depends on local prices in Sweden.
How do work hours compare between Faroe Islands and Sweden?
Both Faroe Islands and Sweden mandate a similar standard work week of 40 hours. When work hours are equal, the country with the higher minimum wage delivers proportionally higher weekly earnings. Standard work week rules set the baseline; actual hours worked often differ based on industry norms and individual employment contracts.