Compared to most other countries in western europe, engineers are severely underpaid in Sweden. I’d definitely go elsewhere.
But that's true almost everywhere. In the U.S. it's true everywhere outside of the Bay Area, and perhaps Seattle.
I love Boston, for example, but the city is chock full of bankers, lawyers, management consultants, and doctors whose incomes often dwarf those of engineers. And they're much higher on the social ladder. You're priced out of the most desirable neighborhoods in the city, and if you're single, dating is tougher.
Obviously, it's not the end of the world. 99% of people don't make as much as investment bankers or white-shoe lawyers, and life goes on. But I think it explains in part why engineers are drawn to the Bay Area. The sky-high cost-of-living may make it a break-even proposition, but the bit of prestige engineers get there is a selling point.
I dont make that much less than an american engineer with my experience, but 40% is washed away in taxes. Also, I generally work 0 overtime 37,5H weeks.