Cashier

What does a cash manager do? – Tasks and work environment

A cash manager has a central responsibility for managing and monitoring cash flow within an organization, often on behalf of companies, municipalities, or other larger entities. Daily tasks include planning and executing incoming and outgoing payments, monitoring liquidity, and preparing reports on the cash status. The cash manager works closely with the finance department and often collaborates with auditors and management to ensure that the organization’s financial resources are used efficiently. The work environment is typically office-based, characterized by precision, structure, and a high focus on responsibility.

Salary development over time

The salary for cash managers has steadily increased over the past three years. In 2022, the average salary was 34,200 SEK per month, rising to 35 500 SEK in 2023. During 2024, the average salary has reached 36 400 SEK per month. The increase corresponds to approximately 6.4% over the period, which is slightly higher than the general salary development within finance assistants and related professions. Factors driving the salary increase include increased complexity of tasks, digitization of financial flows, and some competition for experienced candidates. However, it is noted that demand for the profession is expected to decline over five years according to the Employment Service’s forecast, which may impact future salary development.

Cash manager salary – comprehensive overview

• Average salary: 36 400 SEK/month
• Lowest salary: 29,400 SEK/month
• Highest salary: 38,000 SEK/month
• Hourly wage (average): 219 SEK/hour
• Women earn: 36 500 SEK/month (103% of men's salary)
• Men earn: 35 400 SEK/month
• Regional differences: Salary levels may vary between cities and smaller towns, but the average level is close to the national average.

Education and qualifications

To work as a cash manager, a financial education at high school or post-secondary level is usually required, often supplemented with experience in accounting or similar administrative roles. Practical experience is highly valued, and many employers prefer candidates who have worked with finance assistant tasks or banking services previously. Further education in areas such as accounting, cash handling, or financial systems is advantageous and can contribute to faster career development.

• Economics high school diploma: 3 years
• Post-secondary education: 1–3 years, e.g., vocational college or university
• Courses in accounting/cash handling: Meritorious
• Internship/trainee in finance: Often required or highly desired
• Pre-knowledge: Good skills in Excel and financial systems

Common benefits and compensations

Cash managers are often offered collective agreement benefits such as occupational pension, wellness allowance, and extra vacation days. Other common benefits include flexible working hours, skills development, and remote work options depending on the employer. Some organizations also offer bonus programs or performance-based incentives tied to financial goals.

Competition and challenges

The competition for positions as a cash manager is considered high, as the Employment Service’s forecast shows an oversupply of candidates and decreasing demand over the next five years. Digitization and automation of financial flows mean that some traditional tasks become less in demand, while the complexity of remaining tasks increases. To meet these challenges, continuous skills development is necessary, especially in digital tools and financial systems. Staying updated on legislation and regulations within the financial sector is also crucial.

Tips for those who want to become a cash manager

To succeed as a cash manager, it is beneficial to have a structured approach and a strong sense of accuracy, as the role involves responsibility for significant financial flows. Investing in further education in accounting and cash handling, and actively gaining experience through internships or part-time jobs in finance, is recommended. Analytical skills are valuable for interpreting reports and identifying discrepancies in cash flow, while good collaboration skills facilitate contact with other departments. Flexibility and adaptability help with implementing new systems or routines, and high integrity is important when handling sensitive financial information. Finally, being curious about digital solutions is advantageous, as the profession is rapidly evolving with new technological tools.

Key facts about Cash Managers

• Education level: High school diploma or post-secondary finance education
• Work environment: Office-based with a focus on structure and responsibility
• Typical work hours: Full-time, daytime
• Demand: Limited opportunities, surplus according to the Employment Service
• Special skills: Cash handling, accounting, financial systems

Career paths and future prospects

After three to five years as a cash manager, opportunities open up to advance to roles such as accountant, finance manager, or controller. Some choose to specialize in liquidity planning or work in financial consulting. The Employment Service’s forecast for finance assistants, which includes cash managers, indicates that the demand for the profession nationally is expected to decline, with an oversupply of candidates. Digitization and automation drive this development, but those who develop their digital and analytical skills still have good prospects for advancement within the finance sector.

Frequently asked questions about Cash Managers

• What does a cash manager earn?
  - A cash manager has an average salary of 36 400 SEK per month.
• How has the salary development been for cash managers?
  - The salary has increased from 34,200 SEK in 2022 to 36 400 SEK in 2024, which corresponds to approximately 6.4%.
• What education is required to become a cash manager?
  - Typically, a high school diploma in economics, with post-secondary studies and practical experience being advantageous.
• Are there differences between men's and women's salaries?
  - Yes, women have an average of 36 500 SEK and men 35 400 SEK per month.
• What is the job market like for cash managers?
  - There is a surplus of labor, and demand is expected to decline in the coming years.
• What are the highest and lowest salaries for cash managers?
  - The highest salary is 38,000 SEK and the lowest 29,400 SEK per month.
• What benefits are commonly offered?
  - Occupational pension, wellness allowance, extra vacation days, and sometimes bonus programs are common.