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WORKING IN NORWAY

Where are Norway’s biggest companies located?

Looking for a job in Norway but still determining which parts of the country offer the most opportunities? We've prepared a breakdown of the top Norwegian counties when it comes to the number of big companies.

Stavanger
Take note - strong regional economies can be good indicators of job opportunities. Photo by Oleksii Topolianskyi / Unsplash

Norway’s economy relies heavily on a few key industries – including oil and gas, seafood, maritime, and tourism, to name a few. It is no surprise, then, that a lot of Norway’s biggest companies are established champions in these industries.

If you’re looking to move to Norway, chances are that many available job opportunities will be related to them – and based in the areas of the country where commercial interest is most significant.

Therefore, it’s a good idea to familiarize yourself with the Norwegian counties with the biggest companies, as strong regional economies can be good indicators of job opportunities.

The counties with the biggest number of large companies

According to the most recent data published by Statistics Norway (SSB), the list of top counties by the number of big companies – employing more than 250 people – established in them is as follows:

  1. Oslo (603)
  2. Viken (593)
  3. Vestland (316)
  4. Rogaland (304)
  5. Trøndelag (252)
  6. Vestfold og Telemark (185)
  7. Innlandet (167)
  8. Agder (142)
  9. Møre og Romsdal (135)
  10. Troms og Finnmark (113)
  11. Norland (105)

The top four on the list are unsurprising when one takes into account the economic activity in Norway’s capital and its surroundings, the economic power of Norway’s second-largest city, Bergen, as a seafood and marine hub, as well as the prominence of the oil industry in Rogaland (Stavanger is known as the country’s “oil capital”).

Here’s a look at what makes the high-ranking Norwegian counties above so attractive to big companies.

Oslo: A strong economy and many large employers

Oslo has a great record for ending up at the top of lists that measure economic potential among various European cities.

It’s also highly ranked when it comes to the number of companies it has relative to its size, compared to other large cities in Europe.

With its robust economy, it is no surprise that more than 2,600 of the largest companies in Norway have established themselves in the capital.

A number of prominent Norwegian companies in the maritime and oil and gas industry are based in Oslo. The capital’s port is the largest cargo port in Norway – millions of tonnes of cargo move through the port on an annual basis (under normal circumstances).

Some of the most prominent Norwegian companies based in Oslo are Norsk Hydro, Orkla, Tine, Nortura, and Schibsted.

Rogaland: The centre of Norway’s oil industry

Rogaland is widely known as the centre of the petroleum industry in Norway, and Stavanger – often called the “oil capital of Norway” – is its administrative centre.

The fact that Norway’s national oil company Equinor is based in Stavanger speaks for itself. Equinor’s presence has served as a magnet to other companies in the industry (and related industries), leading to domestic and international oil and gas corporations ramping up business activity and setting up offices in the area.

Rogaland is the country’s most important region for oil and gas exploration, and engineering has affirmed itself as one of its key industries – growing on the back of the offshore petroleum industry.

Some of the most prominent companies based in Rogaland – operating primarily in the realm of energy and related services – include Equinor, Esso Norge, Total E&P Norge, Vår Energi, ConocoPhillips Skandinavia, Exxonmobil Exploration And Production Norway, Norske Shell, and Omv Norge.

Furthermore, Jæren in Rogaland is one of Norway’s most notable agricultural districts, and the broader Stavanger region is well-respected when it comes to food production.

Vestland: The leading hydropower producer in Norway

Vestland has based much of its industrial development on the fact that it has the largest hydropower production in Norway.

Furthermore, it has a robust shipbuilding industry, and its abundant maritime (especially subsea) expertise has contributed to the top-level status of Norway’s oil and offshore industry.

Furthermore, Vestland’s marine and fish farming industries account for most of its exports.

The knowledge developed in Vestland enables Norway to be globally recognized as a complete maritime cluster, meaning that it has the know-how, skills, and specialized labour which allows it to provide a complete shipping industry at all levels – from the planning and design to the launch, operations, and related services.

While some of Equinor’s and Wintershall’s operations are based in Vestland – Bergen, in particular – a host of companies in the seafood and marine industries work out of the region, including TechnipFMC, OneSubsea, Aker Solutions, Leroy Seafood Group, Austevoll Seafood, Marine Harvest, and Grieg Seafood, to mention a few.

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For members

WORKING IN NORWAY

Five things to know about wages in Norway

Norway is a great country to live and work in, and many point to the high salaries as a major pull factor. Here’s what you need to know about the wages in Norway. 

Five things to know about wages in Norway

Norway doesn’t have a minimum wage 

Many wrongly assume that the high wages in Norway must be the result of a high minimum wage. 

However, the country doesn’t have a minimum wage which covers all sectors. Instead, wages are agreed upon through negotiations between trade unions and individual employers or employer organisations. 

This contributes to high levels of trade union membership in Norway. 

Those who aren’t in a union or sectors where membership isn’t widespread negotiate their own wages. 

Some industries, where workers are likely to be exploited or where there may be a large number of foreign workers, have minimum wages enforced by the Norwegian Labour Inspection Authority.

READ MORE: Which industries in Norway have a minimum wage?

How Norwegian wages compare 

The average salary in Norway (more on that later) was 56,360 kroner per month in 2023. 

This equates to an annual salary of around 676,000 kroner. This is a salary equivalent to 49,000 pounds, 57,510 euros, or 61,266 dollars. 

The average annual salary in the US is 59,428, according to Forbes magazine.  Eurostat, the official statistics office of the European Union, measured the average annual salary for a single worker without children at 26,136 euros and 55,573 euros for a working couple with two children. 

However, wages vary greatly across the EU. In 2022, the net annual earnings of an average single worker without children were 47,640 euros in Luxembourg compared to 8,412 euros in Bulgaria

Meanwhile, the average Dane earns 46,972 Danish kroner before taxes, according to Statistics Denmark. This is around 73,981 Norwegian kroner. In Sweden, the average salary was around 38,300 Swedish krona or roughly 38,534 Norwegian kroner

Average wage versus median wage 

The average monthly wage of 56,360 kroner is pulled up by the very highest earners. The highest earners in Norway are found in the private sector. 

Statistics Norway used to keep data on the very highest earners, and around 41,600 people were in the top one percent in 2021 (the year Statistics Norway last kept data) 

To be in Norway’s top one percent required annual earnings of 1.8 million kroner or 150,000 kroner monthly

The median wage is a far more modest 50,660 kroner. 

Income tax 

Norway uses a mixture of progressive and flat taxation. The majority of wage earners in Norway, they will pay a flat income tax of 22 per cent, along with a bracketed tax based on earnings. 

The bracket tax ranges between 1.7 and 17.5 percent, depending on one’s earnings. This means that you can have income tax of up to 39.5 percent in Norway. 

Foreigner workers who are new to Norway will be sorted into the PAYE schemeThis is a flat tax rate of 25 percent, however there are no deductibles available. After a year, they will be sorted into Norway’s regular tax system. 

Norway’s gender and immigrant wage gap 

Foreigners in Norway typically make less money than their Norwegian counterparts. The average salary for a foreign resident in Norway is around 50,270 kroner per month, according to figures from the national data agency Statistics Norway.

Furthermore, when you take immigrants out of the wage statistics, the average wage rises to 58,190 kroner. 

The highest earners amongst foreigners in Norway were those  from North America and Oceania. They made 61,810 kroner on average. 

Africans, and those from countries that joined the EU after 2004, had the lowest earnings among all immigrant groups in Norway. 

While women’s wages increased more than men’s last year, a gender wage gap still exists in Norway. An average woman’s salary amounted to 88.3 percent of a man’s monthly pay packet.

bigger gap existed between Norwegian men and foreign women. 

READ ALSO: How much money do Norway’s different foreigners make?

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