Newsletter October 2017

The most important tool in the toolbox

Tekna shop steward Simen Landa of TechnipFMC negotiates the salaries of some 400 Tekna members employed by his company. “The salary statistics are the most important tool in our salary negiation,” he says. “The statistics are easy to understand and contain a great deal of data. They also provide an accurate indicator of the market value of Tekna’s members,” says Simen Landa.

“Please do remember to respond to Tekna’s salary survey, which is sent out by e-mail to all members in employment in early October. A high response rate will secure the quality and legitimacy of the salary statistics when the time comes for our shop stewards to negotiate pay with company management,” says Tekna’s General Secretary Ivar Horneland Kristensen. Tekna Magasinet’s 2016 salary calculator based on average figures for the various sectors can be found at

The full article in Norwegian can be found at

The engineer taking care of your pension

Jan Erik Saugestad, CEO of Storebrand Asset Management, never got to practice his signal processing expertise before being captured by the world of finance. Today, this engineer manages a fund worth NOK 620 billion – the pension savings of 700,000 Norwegians.

Although the whole of his professional career has revolved around finance, Jan Erik Saugestad is happy that he chose to train as an engineer first, adding economics and management later. This background helps him to put together teams of people drawn from every walk of life to select the best companies for his company to invest in.  The expertise of his team members ranges from doctorates in quantum physics to experts on agriculture and human rights.

A proper job

"My father was an engineer and he always wondered when I would get myself a proper job," says Jan Erik Saugestad with a smile. After graduating in Trondheim he moved to consultants McKinsey who arranged for him to take an MBA in finance at Insead in France. "Before I embarked on my studies I was uncertain about whether I should opt for economics at the Norwegian School of Economics or study engineering at the Norwegian University of Science and Technology in Trondheim. Looking back, I am glad I chose engineering, because I doubt whether I would have gone on to pursue a technical education after completing my economics degree," says Saugestad.

Sustainability as a culture

Storebrand has worked with sustainable investments for 20 years, but the meaning of this fashionable term has changed during the course of this time.

"At the outset, it meant an awareness of what not to invest in. Today, our approach to what sustainability means is far more pro-active and we now focus on what we should invest in," says Saugestad.

He is convinced that those companies that are taking the challenges facing the world seriously will prove to be profitable over time. Generally, these companies are characterised by a culture in which information on innovations is sought actively, opportunities are identified and risks acknowledge.

"This isn't a side-line to our other investment activities. This characterises everything we do," says Saugestad.

Banking and insurance

Check your membership benefits in insurance, banking and savings. Through Tekna's partnership with Gjensidige, you can save more than your annual membership due.

Teknas victories

Take a look at the video below and learn about matters addressed by Tekna over the last two years. The video reviews Teknas most important victories.

Watch the video (In Norwegian)

Modified date: Monday, June 11, 2018