Consultant, finance

What does a consultant in economics do? – tasks and work environment

An economist working as a consultant provides expert financial advice and analysis to companies and organizations. Tasks can range from financial reporting, budgeting, and closing work to business development, process improvements, and project management in economic matters. Consultants are often hired to assist with change projects, efficiency improvements, or when specialized expertise is temporarily needed. The work environment is primarily office-based and characterized by a fast pace, collaboration with various functions, and demands for high accuracy and integrity. The consultant role often involves work both on-site with clients and remotely, with variation in project length and scope.

Salary development over time

The salary for a consultant in economics has steadily increased in recent years. In 2022, the average salary was 52,700 SEK per month, rising to 53 200 in 2023. The latest measured average salary for 2024 is 56 900, representing an increase of approximately 7.9% over two years. This salary development reflects a continued high demand for qualified economic consultants, especially as companies face increased complexity in financial processes and need expertise during change initiatives. The trend shows that the market values experience and specialized skills, which drives up compensation levels in the field. At the same time, a certain gender gap persists, with women's salaries increasing but still below men's levels.

Consultant, economics salary – complete overview

• Average salary: 56 900 SEK/month
• Lowest salary: 41,400 SEK/month (female, private employee, pre-secondary education)
• Highest salary: 66,000 SEK/month (male, private employee, 3-year secondary education)
• Hourly wage (average): 342 SEK
• Gender differences: Men earn 61 800 SEK/month, women 53 300 SEK/month (women 86% of men's salary)
• Regional differences: May occur, but the largest salary ranges are seen between different employer categories and education levels.

Education and qualifications

To work as a consultant in economics, a higher academic degree in economics is usually required, such as a bachelor's or master's degree. Specialization in areas like accounting, finance, or management is common. Practical experience from finance departments, auditing firms, or consulting firms is highly meritorious, and many employers also value certifications in economics and project management. Success requires analytical ability, good communication skills, and a strong sense of business value.

• Bachelor's degree in economics: 3 years (most common basic education)
• Master's degree: 1–2 years additional studies
• Certifications: Such as authorized accountant, project manager, or specialist courses in accounting/finance
• Internships: Common through trainee programs or summer jobs in finance or consulting
• Further education: Courses in enterprise systems, data analysis, or leadership are recommended

Common benefits and compensations

Economics consultants are often offered competitive benefits beyond salary, such as occupational pension, wellness allowances, bonus programs, and sometimes options for remote work or extra vacation days. Professional development through courses and conferences, as well as insurance covering work-related and private needs, are also common.

Competition and challenges

The competition within the profession of economic consulting is relatively high, especially in metropolitan areas where demand for qualified financial expertise is strong. Challenges often include quickly understanding new businesses and processes, while delivering results of high quality under time pressure. Consultants are expected to be flexible, solution-oriented, and able to manage multiple projects simultaneously. Changes in legislation, technology, and client expectations require continuous skills development. Work-life balance can sometimes be challenging, particularly during intensive assignments or travel.

Tips for those wanting to become an economic consultant

To succeed as an economic consultant, it is beneficial to combine analytical skills with a strong desire to understand clients' needs and operations. Being communicative and pedagogical facilitates explaining complex financial relationships to non-economists. Precision and problem-solving skills are crucial for delivering high quality and building trust with clients. Actively seeking internships or trainee positions is recommended, as practical experience often weighs heavily in recruitment. Curiosity and the ability to quickly familiarize oneself with new business models and industries are also valuable in the consulting role. For those who are flexible and enjoy variety, the profession offers both development opportunities and a broad network. Finally, proactive skills development and taking responsibility for one's competence are essential, as industry requirements change rapidly.

Key facts about Consultant, Economics

• Education level: Bachelor's degree or higher in economics
• Typical work environment: Office, sometimes on-site with clients
• Work form: Project-based and varied assignments
• Demand: Moderate opportunities nationally, 758 job openings in the profession
• Gender salary gap: Women earn 86% of what men do

Career paths and future prospects

After three to five years as a consultant in economics, one can advance to senior consultant, project leader, or specialist in areas like accounting, controlling, or business development. Some choose to move into line management roles or start their own consulting firm. According to the Swedish Public Employment Service's forecasts, opportunities in the field are medium and expected to remain unchanged over the next five years, indicating a balance between supply and demand. Digitalization, increased complexity in regulations, and demands for business acumen continue to drive the need for consultants with broad skills. The profession offers good development opportunities for those who want to deepen or broaden their expertise, and changing industries or employers is often feasible thanks to the breadth of experience.

Common questions about Consultant, Economics

• What does a Consultant in Economics earn?
  - The average salary for a consultant in economics is 56 900 SEK per month.
• What education is required to become a consultant in economics?
  - Most commonly, a bachelor's degree in economics, often supplemented with a master's degree or specialized courses.
• What does the job market look like for economic consultants?
  - Opportunities for employment are considered medium and are expected to remain unchanged over the next five years.
• What personal qualities are important as an economic consultant?
  - Analytical skills, communication skills, flexibility, and accuracy are especially valuable.
• Are there significant salary differences between men and women?
  - Yes, women earn on average 86% of what men do within the profession.
• How does education level affect salary?
  - Higher education and specialization can lead to higher salaries, but employer category and experience also play a major role.
• What development opportunities are available within the profession?
  - After some years of experience, a consultant can advance to senior roles, project management, or start their own business.