Economist

What does an economist do? – Tasks and work environment

An economist analyzes economic relationships and societal economic issues at both national and global levels. Tasks may include investigations into inflation, unemployment, growth, taxes, fiscal policy, and international trade. Many economists work with economic forecasts, report writing, and advising companies, authorities, or organizations. It is common to work in project teams and collaborate with other specialists. The work environment is often office-based and characterized by an analytical and knowledge-intensive climate, where precision and critical thinking are central.

Salary development over time

The salary for economists has increased significantly over the past three years. In 2022, the average salary was 47,800 SEK, while in 2023 it rose to 54 000 SEK, corresponding to an increase of about 13%. In 2024, the average salary amounts to 57 100 SEK, representing a further salary increase of just over 5% compared to the previous year. This positive salary trend can be partly explained by increased demand for qualified economic analysis in both public and private sectors, as well as the relatively stable labor market for economists even during periods of economic uncertainty. Differences between regions and employers exist, but the overall trend is that expertise in advanced analysis and policy work is highly valued, driving up salary levels for the profession.

Economist salary – complete 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 men's salary)
• Regional differences: Salary levels vary between regions and employers

Education and qualifications

The path to becoming an economist primarily involves university studies, where a bachelor's degree in economics is fundamental. For more advanced roles and research assignments, a master's or doctoral degree is often required. Education includes mathematics, statistics, micro- and macroeconomics, and social science methods. Internships or trainee programs during studies can be advantageous and provide valuable industry contacts.

• Bachelor's degree in economics: 3 years
• Master's degree: 2 years (beyond bachelor's)
• Courses in statistics and mathematics: often mandatory
• Internship/trainee programs: provide work experience
• Prerequisites: Basic eligibility for university studies, often mathematics 3b/3c

Common benefits and compensations

Economists are often offered benefits such as occupational pension, wellness allowances, and flexible working hours. Skills development, conferences, and access to digital tools are common. Some employers also offer bonus schemes, extra vacation days, and subsidized meals.

Competition and challenges

Competition for the most attractive positions within economics is intense, especially at government agencies, large consulting firms, and international organizations. The job market requires high analytical ability and competence in quantitative methods. A challenge is to stay updated in rapidly changing areas such as financial markets, global economy, and digitalization. Additionally, the ability to communicate complex economic relationships clearly to decision-makers and the public is essential. For those wishing to specialize in research, competition for academic positions can be particularly tough. However, there is a broad labor market for economists overall, offering flexibility for those willing to broaden their skill set.

Tips for aspiring economists

To succeed as an economist, it is beneficial to have an analytical mind and an interest in societal issues. Building strong knowledge in statistics and mathematics is advantageous, as these form the foundation of most economic analyses. Being curious and staying informed about economic trends and political decisions provides an edge, while good communication skills facilitate conveying complex results to different audiences. Precision and perseverance are important qualities, especially in long-term projects or research tasks. Creating networks during studies, such as through internships or student organizations, is also valuable, as many jobs are obtained through personal contacts. Finally, openness to new perspectives and collaboration with other professionals increases opportunities for development and making a difference in the profession.

Key facts about Economists

• Educational level: University studies, often master's degree
• Work environment: Office-based, analytical focus
• Typical work form: Full-time, project-based
• Demand: 758 job openings within the profession in 2024
• Special skills: Statistics, mathematics, and economic analysis

Career paths and future prospects

After three to five years in the profession, an economist can advance to roles such as senior analyst, project manager, or chief economist. It is also common to work as an investigator, consultant in the private sector, or as an expert at authorities and international organizations. Forecasts from the Employment Service show no precise assessment for economists due to limited data, but the broad scope of the profession and the number of job openings (758 within the profession in 2024) indicate good opportunities for those who are flexible and have the right skills. The job market is influenced by economic cycles and societal development, but the need for qualified economic analysis is expected to persist in the future.

Frequently asked questions about Economists

• What is the average salary of an Economist?
  - An economist has an average salary of 57 100 SEK per month in 2024.
• What are the gender differences in economist salaries?
  - Men earn on average 59 400 SEK and women 54 800 SEK; women earn 92% of men's salary.
• What education is required to become an economist?
  - A bachelor's degree in economics is required, often supplemented with a master's degree.
• What are the job responsibilities of an economist?
  - Analysis, forecasting, report writing, and advising on economic policy issues.
• Are there regional salary differences?
  - Yes, salaries can vary depending on region and employer.
• What are the future prospects for economists?
  - No specific forecasts, but the broad scope of the profession and available job openings suggest good opportunities.
• What is the highest and lowest salary for an economist?
  - The highest salary is 65,200 SEK (male, private sector employee), and the lowest is 41,300 SEK (female, private sector worker).