Budget Advisor

What does a Budget Advisor do? – Tasks and work environment

A Budget Advisor works with analyzing, planning, and providing advice on personal finance and budgeting for both individuals and companies. Tasks often include helping clients structure their income and expenses, prevent and manage debt, and develop sustainable financial plans. Counseling typically takes place in meetings, both in person and digitally, and can include education on financial tools and rights. The Budget Advisor often collaborates with social services, banks, and other stakeholders, and the role requires high integrity and the ability to engage with people in financially vulnerable situations. The work environment is mainly office-based, with regular contact with clients and colleagues.

Salary development over time

Over the past three years, Budget Advisors have experienced a stable salary development. In 2022, the average salary was 52,700 SEK per month, increasing to 53 200 SEK in 2023. Between 2023 and 2024, the salary has further increased to 56 900 SEK, a rise of approximately 7.0% over two years. This positive trend can be partly explained by increased focus on personal financial advice and higher demand for qualified financial professionals in both public and private sectors. Salary increases also reflect an overall development within the profession, where specialist skills and experience are valued more highly. Despite a certain balance in the job market, there remains a continued need for individuals with deep understanding of economics and counseling.

Budget Advisor salary – comprehensive overview

• Average salary: 56 900 SEK/month
• Lowest salary: 41,400 SEK/month (female, private sector worker, pre-secondary education)
• Highest salary: 66,000 SEK/month (male, private sector employee, high school education)
• Hourly wage: 342 SEK
• Women earn: 53 300 SEK/month (86% of men's salary)
• Men earn: 61 800 SEK/month
• Regional differences: Data on regional salary differences is unavailable

Education and qualifications

The path to becoming a Budget Advisor usually involves post-secondary education in economics, social sciences, or social work. Many employers value experience in counseling or working with people, and supplementary courses in budgeting and debt management are advantageous. Practical experience and strong communication skills are important factors for success in the role.

• Higher education in economics: 3–4 years
• Courses in budget and debt counseling: 1–2 semesters, often online
• Internship in counseling or finance: Highly recommended
• Experience in social work: Meritorious
• Good communication and pedagogical skills: Important in the profession

Common benefits and compensations

Budget Advisors are often covered by collective agreements and offered benefits such as occupational pension, wellness allowance, flexitime, and opportunities for professional development. It is common to have secure employment conditions, subsidized lunches, and sometimes extra vacation days. Remote work options are available in some organizations.

Competition and challenges

The job market for Budget Advisors is characterized by balance, with roughly equal numbers of applicants and available positions. One of the biggest challenges is staying updated on changing regulations and economic conditions, especially during times of economic uncertainty. Since the profession often involves meeting people in difficult life situations, high demands are placed on empathy and stress resilience. Competition for the most attractive positions can be fierce, especially in larger cities, though demand for qualified counseling remains stable according to the Swedish Public Employment Service’s forecasts.

Tips for aspiring Budget Advisors

To succeed as a Budget Advisor, it is beneficial to combine analytical skills with a genuine interest in helping others. Developing good communication and pedagogical abilities gives advantages, especially when explaining complex financial issues simply. Precision and structure are crucial for providing accurate advice and handling sensitive information responsibly. It is also wise to seek internships or part-time jobs in finance or counseling to gain experience. Flexibility and patience facilitate working with clients in stressful situations, and it is recommended to continuously update knowledge on laws and economic trends. Finally, teamwork skills are highly valued, as the role often involves collaboration with multiple stakeholders both within and outside the organization.

Key facts about Budget Advisors

• Educational level: Higher education in economics recommended
• Work environment: Office-based with client contact
• Demand: Moderate opportunities, balanced job market
• Special skills: Budget and debt counseling, communication
• Available jobs in the profession: 758 (May 2024)

Career paths and future prospects

After three to five years as a Budget Advisor, there are opportunities to advance to specialist roles within financial counseling, project management, or training within municipalities or organizations. Some progress to more strategic roles within finance departments or pursue further education as personal finance or financial advisors. According to the Swedish Public Employment Service’s forecasts for other economists, demand is expected to remain unchanged over the next five years, with a continued balance between supply and demand for labor. There are also opportunities to work on developing digital counseling tools or combine counseling with educational initiatives, depending on interest and experience.

Frequently asked questions about Budget Advisors

• What is the average salary of a Budget Advisor?
  - A Budget Advisor has an average salary of 56 900 SEK per month.
• What education is required to become a Budget Advisor?
  - Higher education in economics, social sciences, or social work is recommended, along with courses in budget and debt counseling.
• Are there salary differences between men and women?
  - Yes, women earn an average of 53 300 SEK per month and men 61 800 SEK, which means women earn 86% of what men do.
• What is the job market like for Budget Advisors?
  - The job market is balanced with moderate opportunities and approximately 758 available positions within the profession.
• What are the biggest challenges in the profession?
  - Keeping updated on new regulations and economic conditions, and engaging with clients in difficult situations are the main challenges.
• What is the salary of the highest-paid Budget Advisor?
  - The highest salary is 66,000 SEK per month and belongs to a man with a high school education working as a private sector employee.
• What is the starting salary for a Budget Advisor?
  - The lowest reported salary is 41,400 SEK per month for a woman with pre-secondary education working as a private sector worker.