Health economist

What does a health economist do? – Tasks and work environment

A health economist works with analyzing and evaluating economic aspects within healthcare. Tasks include assessing cost-effectiveness of medical treatments, pharmaceuticals, and care interventions. The results are used as decision-making support for authorities, regions, and private actors in resource allocation and policy development. The profession often involves close collaboration with researchers, doctors, policymakers, and sometimes patient organizations. The work environment is generally office-based with elements of project work and advanced data analysis, and workplaces can be within the public sector, pharmaceutical industry, consulting firms, or academic settings.

Salary development over time

The salary of a health economist has shown a clear upward trend in recent years. In 2022, the average salary was 47,800 SEK per month, which increased to 54 000 SEK in 2023. In 2024, the average salary has further risen to 57 100 SEK per month, representing an increase of approximately 19.4% over three years. Factors driving this development include increased demand for qualified analyses in healthcare, more complex resource allocation requirements, and a growing pharmaceutical and biotech sector. Additionally, the education level and specialization among health economists have risen, further pushing up salaries. Despite gender pay gaps, the profession remains well-paid within its field, especially for private sector employees.

Health economist salary – comprehensive overview

• Average salary: 57 100 SEK/month
• Lowest salary: 41,300 SEK/month (female, private sector worker, high school education)
• Highest salary: 65,200 SEK/month (male, private sector employee, unspecified education)
• Hourly wage: 343 SEK/hour (based on 166 working hours/month)
• Gender differences: Men 59 400 SEK/month, Women 54 800 SEK/month (women earn 92% of what men do)
• Regional differences: Data on regional variations is currently unavailable

Education and qualifications

To work as a health economist, a university degree in economics, statistics, public health, or equivalent is usually required, often with specialization in health economics. Combining economic studies with courses in medicine, healthcare, or epidemiology is common. Practical experience or research projects in the field increase employment chances, as does experience in data analysis and knowledge of healthcare systems.

• Formal degree: Bachelor's degree (3 years) or master's degree (5 years) in economics, public health, or similar
• Courses/certifications: Specialized courses in health economics, statistics, and cost-effectiveness analysis
• Internships: Experience from internships in healthcare, pharmaceutical companies, or government agencies is advantageous
• Prerequisites: Good knowledge of mathematics and statistics, analytical skills
• Tips for choosing: Combine economics and healthcare subjects for broader competence

Common benefits and compensations

Typical benefits for health economists include occupational pension, wellness allowances, flexible working hours, and options for remote work. In some cases, opportunities for professional development, bonus programs, and international conference travel are offered as part of the employment package.

Competition and challenges

The competition for positions as a health economist is relatively high, especially for more attractive roles within the pharmaceutical industry and larger consulting firms. The lack of clear forecasts for the profession's future prospects makes it difficult to predict demand precisely, although the number of job openings is substantial. Challenges often involve staying updated with rapidly changing regulations, new analysis methods, and digital tools. Additionally, the role requires the ability to communicate complex economic results clearly to decision-makers and non-economists.

Tips for aspiring health economists

To succeed as a health economist, it is beneficial to combine analytical precision with an interest in societal issues and health. A strong drive to understand both economics and healthcare systems provides an advantage in choosing studies and internships. Developing good communication skills is crucial, as the role often involves presenting complex analyses to various audiences. Curiosity and the ability to quickly learn new methods facilitate growth in an industry characterized by rapid innovation and digitalization. Building networks and seeking mentorship can open doors to interesting projects and workplaces. The ability to work independently but also collaborate in interdisciplinary teams is valuable. Finally, resilience and problem-solving skills are important, especially when driving projects from analysis to decision-making support.

Key facts about health economists

• Education level: At least a bachelor's degree, often a master's degree
• Work environment: Office-based, analytical, and project-oriented
• Typical employment: Permanent positions within the public sector, pharmaceutical industry, or consulting firms
• Demand: 758 job openings within the profession (economists and macro analysts)
• Special skills: Economic analysis, statistics, knowledge of healthcare

Career paths and future prospects

After three to five years as a health economist, it is common to advance to specialist roles, project managers, or senior analysts within pharmaceutical companies, consulting firms, or government agencies. Many move into strategic roles leading larger evaluation projects or responsible for policy development. The employment service's forecasts for economists and macro analysts indicate that data is insufficient for an exact assessment, but the number of job openings is large. Increased digitalization and demand for evidence-based decisions in healthcare suggest continued good opportunities, especially for those combining economics with medical understanding. International career opportunities exist for those interested in working on global health issues or pharmaceutical markets.

Frequently asked questions about health economists

• What does a health economist earn?
  - A health economist has an average salary of 57 100 SEK per month, with variations depending on experience, gender, and employer.
• What education is required to become a health economist?
  - Usually, at least a bachelor's degree in economics, public health, or statistics, often with specialization in health economics.
• Are there salary differences between men and women?
  - Yes, men earn on average 59 400 SEK, while women earn 54 800 SEK, which is 92% of men's salaries.
• Which workplaces employ health economists?
  - Common employers include regions, government agencies, pharmaceutical companies, consulting firms, and universities.
• What is the job market outlook for health economists?
  - There are 758 job openings, but an exact forecast is lacking due to limited data.
• What are the highest and lowest salaries for a health economist?
  - The highest salary is 65,200 SEK (male, private sector employee), while the lowest is 41,300 SEK (female, private sector worker).
• Is specialization necessary to get a job as a health economist?
  - Specialist skills and experience in data analysis are often advantageous but not always required for junior roles.