Private economist salary

Introduction to the Profession of Private Economist

Working as a private economist involves assisting individuals and businesses with financial planning and advice. As part of the banking profession, private economists specialize in providing guidance on everything from savings and investments to loans and insurance. This profession offers a wide variety of tasks and the opportunity to make a real difference in people's financial lives.

Salary for a Private Economist

What does a Private Economist earn? The average salary for this profession is 44 200 SEK per month, but there are variations depending on experience, employer, and educational level. Men in the field earn an average of 49 600 SEK, while women earn 40 600 SEK. Therefore, women earn 82% of what men do in the same profession. The hourly wage for a private economist averages 266 SEK, based on an assumption of 166 working hours per month.

Salary Development

Over the past year, the average salary for private economists has increased from 42 500 SEK to 44 200 SEK, demonstrating a positive salary trend in the profession. The highest recorded salary for a private economist is 56,600 SEK, belonging to a man with a post-secondary education of three years or more. On the other hand, a woman in the profession can expect a maximum salary of 44 200 SEK.

Lowest Salaries in the Profession

For those just starting their careers or with a lower level of education, the lowest salaries can be a reality. The lowest salary for a private economist is 37,300 SEK for women and 41,500 SEK for men. These salaries are typically associated with a pre-secondary education.

Working Conditions and Benefits

For private economists, the work environment can vary from working in a banking environment to working as an independent advisor. The profession often offers flexibility, including the opportunity to work from home, which is a valued benefit. Some employers may provide additional benefits such as paid further education and a company-paid mobile phone, which can be significant for the employee.

Future Outlook

According to the Labor Market Forecast, the future outlook for bank professionals, including private economists, is moderate. This means that the demand for private economists is expected to remain unchanged over the next five years. The recruitment situation is balanced, indicating that there is neither a shortage nor an excess of qualified candidates.

Education and Qualifications

To become a private economist, a post-secondary education in economics, finance, or related fields is usually required. Many employers prefer candidates with a bachelor's degree, but work experience and certifications can also carry weight. It is important to stay updated on the latest trends and changes in the financial sector to remain competitive in the job market.

Challenges in the Profession

Working as a private economist can pose challenges, such as handling clients' diverse financial needs and expectations. It requires strong analytical skills and an ability to communicate complex financial concepts in an understandable manner. Additionally, the ability to build and maintain trusting relationships with clients can be crucial for success in the profession.

Competition and Job Market

There is some competition in the job market for private economists, but with the right education and experience, opportunities are promising. Since the profession covers a wide range of financial services, private economists can work in various sectors, increasing the chance of finding a position that suits their specific interests and qualifications.

• Average Salary: 44 200 SEK
• Men's Average Salary: 49 600 SEK
• Women's Average Salary: 40 600 SEK
• Highest Salary for a Man: 56,600 SEK
• Highest Salary for a Woman: 44 200 SEK
• Lowest Salary for a Man: 41,500 SEK
• Lowest Salary for a Woman: 37,300 SEK

In summary, the profession of private economist is a dynamic and rewarding career choice for those interested in finance and helping others navigate their financial lives. With a stable salary development, moderate future prospects, and opportunities for flexible working conditions, it is an attractive option for both recent graduates and experienced economists.