Financial consultant

What does a financial consultant do? – Tasks and work environment

A financial consultant works to provide qualified advice on finance, investments, and funding to companies, organizations, or individuals. Tasks often include analyzing financial reports, managing portfolios, assessing risks, and developing strategies for capital allocation. The role also involves identifying improvement opportunities in clients' financial processes, proposing measures to optimize returns, and preparing reports and presentations. The work environment is mainly office-based, and the pace can be intense at times, especially during reporting periods or major transactions. Many financial consultants work at consulting firms or banks, but there are also assignments as independent consultants or within larger companies' finance departments.

Salary development over time

The salary for a financial consultant has shown a clear upward trend in recent years. In 2022, the average salary was 66,800 SEK, which increased to 68 500 SEK in 2023 and further to 73 100 SEK in 2024. This represents a total increase of nearly 9.4 % over three years. This positive development can be linked to continued strong demand for financial advice and increased complexity in economic regulations. Additionally, digitalization and new requirements for sustainability reporting have contributed to making the consultant role more specialized, which in turn has driven up salary levels. However, gender pay gaps persist, with women earning on average 87 % of men's salaries.

Financial consultant salary – comprehensive overview

• Average salary: 73 100 SEK/month
• Lowest salary: 47,200 SEK/month (women), 61,000 SEK/month (men)
• Highest salary: 76,800 SEK/month (men), 69,000 SEK/month (women)
• Hourly wage: 440 SEK/hour
• Gender differences: Women earn 87 % of what men do
• Regional differences: Salary variations exist, especially between metropolitan areas and other parts of the country

Education and qualifications

To work as a financial consultant, a post-secondary education in economics, finance, or a related field is usually required. Many have a bachelor's or master's degree from university or college, and further education within specific finance areas is advantageous. Practical experience from banking, finance, or auditing is highly valued, and it is common to supplement with certifications such as CFA, Swedsec, or equivalent.

• Bachelor’s degree in economics/finance: 3 years
• Master’s or postgraduate degree: 1–2 additional years
• Certifications: CFA, Swedsec, or similar
• Internship/trainee programs: Common for recent graduates
• Industry courses and self-studies: Provide specialized expertise

Common benefits and compensation

Financial consultants often receive benefits such as occupational pension, wellness allowance, bonus programs, and flexible working hours. Other common compensations include training grants, subsidized lunches, and sometimes profit sharing or stock programs, especially with larger employers.

Competition and challenges

The competition for the most attractive positions as a financial consultant is high, particularly in metropolitan regions where many banks and consulting firms operate. The job market is characterized by a balance, meaning there are roughly as many qualified candidates as available positions. The biggest challenges for the profession are staying updated with constantly changing regulations and technological solutions, as well as building a strong network to secure new assignments. The ability to deliver results under pressure and handle complex situations is crucial for success in the field.

Tips for aspiring financial consultants

To succeed as a financial consultant, it is beneficial to combine analytical skills with a genuine interest in economics and financial markets. Early practical experience through internships or part-time jobs in banking or auditing is recommended, along with developing communication skills to explain complex concepts to clients. A strong drive and the ability to independently take responsibility for projects are essential, as well as flexibility since tasks often vary between assignments. Continually investing in further education and certifications provides a competitive edge, and networking is key to discovering exciting career opportunities. Finally, integrity and thoroughness are important qualities for managing clients' trust and sensitive information.

Key facts about Financial Consultants

• Educational level: Post-secondary, often bachelor's degree or higher
• Typical work form: Consulting assignments via companies or as self-employed
• Work environment: Office-based, project-driven, often high pace
• Demand: Moderate, 758 available jobs in the profession
• Special skills: Analysis, portfolio management, regulatory expertise

Career paths and future prospects

After three to five years in the profession, there are good opportunities to advance to roles such as senior financial consultant, portfolio manager, or CFO. Some choose to specialize in risk management, sustainability analysis, or financial strategy, while others move into leadership positions within banks or financial companies. According to the Swedish Public Employment Service's forecast, the opportunities for employment as a financial consultant are moderate, and the recruitment situation is characterized by balance. In five years, demand is expected to remain unchanged. Digitalization and increased requirements for specialized knowledge may influence future career paths and create new niche roles within the finance industry.

Common questions about Financial Consultants

• What does a financial consultant earn?
  - A financial consultant has an average salary of 73 100 SEK per month, with variations depending on experience, gender, and region.
• What education is required to become a financial consultant?
  - Usually, a bachelor's degree or higher in economics or finance along with supplementary certifications are required.
• What are the gender differences in the profession?
  - Women earn on average 87 % of men's salaries within the profession.
• What does the job market look like for financial consultants?
  - There are moderate employment opportunities, and the profession is characterized by a balance between supply and demand.
• What are the duties of a financial consultant?
  - Tasks include financial analysis, advising, portfolio management, and reporting to clients.
• Are there regional salary differences for financial consultants?
  - Yes, salary levels are generally higher in metropolitan regions compared to other parts of the country.
• What career paths are available after a few years as a financial consultant?
  - It is common to advance to senior roles, portfolio managers, or leadership positions within banking and finance.