Private financial adviser salary

Salary and Working Conditions for Personal Finance Advisor

Working as a personal finance advisor involves helping individuals and families plan and manage their financial resources. The profession is often associated with banking professionals and entails providing advice on investments, savings, pensions, and loans. To succeed in this role, building good customer relationships and having a deep understanding of financial products and markets are essential.

Salary Statistics

The average salary for a personal finance advisor is 44 200 SEK per month. This represents a slight decrease from the previous year when the average salary was 42 500 SEK. There is a clear gender pay gap in this profession. Men earn an average of 49 600 SEK while women earn 40 600 SEK, meaning that women earn 82% of what men do. This difference is important to highlight in order to work towards a more gender-equal workplace.

Education and Qualifications

Becoming a personal finance advisor often requires an academic background in economics, finance, or related fields. A bachelor's degree is usually a minimum requirement, but many employers prefer candidates with a master's degree or other specialized education. Certifications such as SwedSec licensing can also be advantageous and sometimes necessary depending on the employer.

Job Prospects

According to the Public Employment Service's forecasts, the opportunities to find work as a personal finance advisor are moderate at the national level. Over a five-year period, demand is expected to remain stable. The recruitment situation is characterized by balance, indicating neither an excessive shortage nor surplus of qualified candidates. This could mean a stable job market for those interested in working in this profession.

What Does a Personal Finance Advisor Do?

A personal finance advisor works to provide advice and guidance to individuals on their finances. This can include everything from budgeting and saving to investments and retirement planning. The job often involves analyzing the client's financial situation, identifying goals, and developing strategies to achieve those goals. It is a profession that requires both analytical and interpersonal skills.

Benefits

Personal finance advisors can often expect certain benefits in addition to their base salary. This may include paid training and certifications, which are common in the industry to stay updated on the latest financial regulations and products. Other common benefits may include occupational pension, wellness benefits, and sometimes even a company car or provided mobile phone.

What to Consider

For those considering a career as a personal finance advisor, it is important to have a strong foundation in economics and finance, as well as the ability to build and maintain customer relationships. Certifications and ongoing education can provide a competitive advantage. It is also important to be aware of the gender disparities in salary structure and actively work towards promoting equality in the workplace.