Advice for International Professionals Seeking a Job in Sweden's Financial Industry

For financial professionals moving to Sweden with solely foreign work experience, the job market can be challenging to break into initially. Employers in Sweden often value local experience and familiarity with Swedish financial regulations and work culture. However, with the right approach, you can position yourself as a strong candidate. Keep reading for a breakdown of what to expect and actionable advice to help you gain local experience.

How Hard Will It Be to Get Your First Job?

1. Challenges: Employers may be hesitant to hire without proven experience in Swedish financial systems or regulations. Language barriers can pose difficulties, even in firms where English is used professionally. Networking and connections often play a significant role in hiring decisions, and new arrivals typically lack an established local network.
2. Opportunities: Your international experience can be an asset, especially for roles that involve global markets or multicultural teams. High-demand areas like compliance, sustainable finance, and FinTech are more open to candidates with diverse backgrounds.

Key Strategies to Increase Your Chances of Success in Sweden’s Financial Industry

1. Specialize in High-Demand Areas

Sweden’s financial sector has a growing demand for experts in certain niches:

• Sustainable Finance: Green bonds and ESG investing are priorities for many Swedish banks and institutions.
• FinTech: Companies like Klarna and Trustly are leaders in digital payment solutions. Skills in blockchain, AI, and digital banking are highly sought after.
• Risk and Compliance: Regulations like MiFID II and AML laws create demand for specialists in compliance and risk management.
• Focus on Transferable Skills: Emphasize skills like risk analysis, portfolio management, or regulatory compliance, which are universally relevant.

Focus on developing expertise in these areas to stand out. If you already have these skills, highlight them in your CV, cover letter and LinkedIn to make your profile more competitve.?

??Join my Swedish-Style CV Course waitlist here: https://bit.ly/CVWaitlist?

2. Understand Local Financial Regulations

Sweden has strict financial regulations, and familiarity with local frameworks is a competitive advantage:

• Learn about Swedish and EU-level compliance standards (e.g., GDPR, AML, and KYC).
• The best way to do this is why networking with and interviewing locals who already work in this industry in Sweden.
• Highlight any experience you have with these regulations in your application and during interviews. This can be done by using keywords and examples in your work experience.

3. Gain Relevant Certifications

Credentials from globally recognized organizations carry weight in Sweden:

• Pursue certifications such as CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), or CAMS (Certified Anti-Money Laundering Specialist).
• If you’re targeting FinTech, courses in data analytics or programming languages like Python are advantageous.

4. Target Companies Open to International Talent

Focus on firms that are known to hire internationals:

• Large banks like SEB, Nordea, and Swedbank often seek diverse talent for their global operations; they are more familiar with hiring international professionals.
• If you need a visa sponsorship, these companies may be more familiar with the process.
• FinTech startups are especially open to English-speaking professionals and are rapidly expanding their teams.
• Check job boards for roles explicitly marked as "English only" or "international candidates welcome."

?? Get access to my free list of Swedish companies who are known for hiring internationals in Sweden here: https://intertalentsinsweden.com/2024/07/24/best-recruiting-companies-for-international-professionals-in-sweden/?

5. Join Industry Networks

Building connections within the financial sector can be one of your best advantages:

• Attend events hosted by Swedish FinTech Association, CFA Sweden, or Stockholm School of Economics Alumni Network.
• Join professional communities focused on finance, such as networking groups on LinkedIn or meetups for FinTech enthusiasts.

?? Watch my free Swedish networking webinar here: https://bit.ly/NetworkingFreeWebinar

6. Leverage Your International Experience

Some Swedish financial firms value insights into international markets when they work with clients from abroad:

• Highlight any experience you have in cross-border finance, currency trading, or working in multinational settings.
• If you’ve worked in markets with different regulatory environments, discuss how that expertise can benefit Swedish firms expanding abroad.

7. Develop Local Market Knowledge

Understanding Sweden’s unique market trends is crucial:

• Learn about Sweden’s push for cashless transactions and the increasing adoption of digital currencies.
• Study the country’s pension system and the investment opportunities it creates for financial professionals.
• Make sure you can demontrated during interviews and CV material that you understand the local terminology and regulations.?

8. Adapt to Swedish Work Culture in Finance

Swedish workplaces are team-oriented, even in high-stakes industries like finance:

• Show that you can collaborate effectively and contribute to group success rather than focusing solely on individual achievements.
• Work-life balance is valued, so avoid presenting yourself as overly competitive or focused on long hours.

?? Download my free guide on understanding Swedish workplace culture here: https://bit.ly/FreeCulturalPDF?

9. Government Jobs in Sweden Have Special Requirements

For government jobs, employers often require:

• A Master’s degree from Sweden or Scandinavia.
• Proficiency in Swedish (as most communication is in Swedish).
• Recent relevant coursework or certifications tailored to the job description.
• Experience in extracurricular activities or associations within Swedish society, as this shows integration and initiative.

Interview tips for government roles; expect general questions such as:

• Tell me about yourself.
• What are your strengths and weaknesses?
• How do you handle stress? Provide real-life examples.
• How do you handle conflicts? Provide examples.
• Why do you want to work with us, and how can you contribute?
• What do you bring to the job?
• How would your last supervisor describe you?
• Describe your ideal supervisor.

These questions are common across various government organizations, including Skatteverket, municipalities, regions, and government-owned entities.

10. A Note to Senior Finance Professionals

While being a Senior Finance Professional might be an advantage in the international job market, it can sometimes be a disadvantage in the Swedish job market. This is for two main reasons:?

1. A senior professional might be assumed to be “stuck in their ways” in terms of how they operate, both technically (such as industry practices) and culturally (not understanding Swedish workplace expectations, thus creating bias or hesitancy from Swedish employers to hire them.
2. A senior professional may have had a competitive salary abroad that isn’t offered in Sweden. This could scare away recruiters from reaching out to you for an interview if they assume you will require a salary out of their budget.

What can you do about this?

1. Learn about Swedish cultural expectations in the workplace and reflect it in your CV.
2. Try not to show more than 10 years of your work experience, or be selective about showing work experiences older than 10-15 years old.
3. Unless an employer or job ad states they want someone with specific international work experience, consider removing other work locations from your CV unless it is in Sweden.?

By aligning your skills with the demands of Sweden’s financial sector and showing how you can add value to the local market, you can position yourself as a competitive candidate in this industry and get your dream job in Sweden!?

Strategies to Gain Local Experience

1. Seek Volunteer Roles in Financial or Nonprofit Organizations

Volunteering can help you build local connections and learn Swedish business practices.

• Look for organizations that need financial expertise, such as budgeting, grant writing, or bookkeeping.
• Platforms like Volont?rbyr?n list opportunities, including roles requiring financial skills.
• International nonprofits or Swedish organizations focused on global issues might value your foreign experience.

2. Apply for Internships or Trainee Programs

Even as an experienced professional, internships can provide valuable Swedish work experience.

• Many firms in Sweden offer internships for career switchers or international professionals looking to enter the local market.
• Jobbspr?nget is a good resource to be connected with local internship programs in Sweden. They usually are 4 months long, require an approved visa first (if applicable), and oftentimes lead to full-time job offers.
• Explore options like SEB’s International Trainee Programme, Handelsbanken or internships at FinTech startups where prior experience is less rigidly required.
• Apply early, as competition for these roles is high.

3. Take Short-Term or Contract Roles

Temporary or freelance work is a common entry point.

• Agencies like Academic Work, Adecco, and Randstad often have short-term financial roles.
• Contract roles can help you establish credibility and build relationships with local employers.
• The company studac.se hires finance students for part-time client work.

4. Offer Free Consultations to Small Businesses or Startups

Volunteering a few hours of your expertise to startups or small firms can lead to references and local experience.

• Focus on helping with financial planning, tax preparation, or investment advice.
• Use platforms like Verksamt.se to identify small businesses in need of financial guidance.

5. Target Companies Open to International Talent

Focus on firms that are known to hire internationals:

• Large banks like SEB, Nordea, and Swedbank often seek diverse talent for their global operations; they are more familiar with hiring international professionals.
• If you need a visa sponsorship, these companies may be more familiar with the process.
• FinTech startups are especially open to English-speaking professionals and are rapidly expanding their teams.
• Check job boards for roles explicitly marked as "English only" or "international candidates welcome."

?? Get access to my free list of Swedish companies who are known for hiring internationals in Sweden here: https://intertalentsinsweden.com/2024/07/24/best-recruiting-companies-for-international-professionals-in-sweden/?

Practical Steps to Accelerate Your Job Search

1. Localize Your CV and Cover Letter:

• Use the Swedish CV format and tailor applications to the job description.
• Mention any relevant Swedish connections, such as local volunteer work or courses.

??Join my Swedish-Style CV Course waitlist here: https://bit.ly/CVWaitlist?

2. Target English-Speaking Roles:

• Many international banks and FinTech firms in Sweden operate in English.
• Start with these roles while improving your Swedish skills in parallel.

?? Click here to view my guide on how to get a job in Sweden without knowing Swedish: https://bit.ly/notknowingswedishPDF?

3. Utilize Staffing Agencies:

• Agencies like Michael Page, Hays, and Academic Work specialize in finance and can connect you with entry-level opportunities.

4. Learn Swedish Basics:

• Language is one of the biggest barriers, especially for jobs in government or municipality sectors.
• Even basic Swedish can demonstrate your commitment to integrating into the local culture.

??Learn Swedish language through online courses here: https://elansutbildning.teachable.com/courses/?affcode=391504_ftjvhsxy?

5. Consider relocating to a less-competitive location to get started

Apply for jobs in smaller towns, such as in northern Sweden – competition is lower there as fewer people are willing to relocate. Once you're in the market, it becomes easier to transition to better opportunities in larger cities or with bigger firms.

6. Set Realistic Expectations:

It may take time to land your ideal role, so consider entry points like internships, contract work, or smaller firms to gain local experience.

By combining your international expertise with targeted local experience-building strategies, you can successfully transition into Sweden’s financial industry. Patience, persistence, and networking will be key to your success.

BONUS SECTION!

Advice from an international professional who landed a job in the financial industry in Sweden.

It has now been 11 years since I moved to Sweden, and the best advice I can offer for those looking for jobs in finance is:

1- Learn Swedish as soon as possible – this is especially crucial for government jobs.

2- Apply for jobs in smaller towns in northern Sweden – competition is lower there as fewer people are willing to relocate. Once you're in the market, it becomes easier to transition to better opportunities in larger cities or with bigger firms.

One critical piece of advice is to focus on quality over quantity when applying for jobs. It’s better to apply for 1–2 jobs daily with carefully tailored CVs and personal letters (PL) specific to the job description. Early in my job search, I made the mistake of using generic PLs and CVs. Over time, I learned the importance of customizing applications to stand out.

Persistence is key. I applied for hundreds of jobs and had several interviews before landing my first position. However, after my first job, I noticed a significant improvement, with interview calls for 8 out of 10 applications.

Lastly, don’t be discouraged by rejections. It’s natural to feel disheartened, but determination and persistence are your strongest tools – your "Thor’s Hammer." Keep learning from each experience, and success will follow.

I hope this helps!

Additional Resources:

·? Article on finding work in the Swedish finance industry as an international: https://www.finansliv.se/artikel/deficient-diversity/

·? Hedge-Fund Boss Ignites Swedish Race Debate With Complaint https://www.bloomberg.com/news/articles/2020-12-15/hedge-fund-boss-ignites-swedish-race-debate-with-bias-complaint

·? A company that hires finance students for client work: https://studac.se/

Written by Amanda Herzog , the founder of Intertalents In Sweden .?She offers career?coaching services, online courses, lectures and other resources to help foreign-born professionals find career success in Sweden. Learn more and book a session with her at www.intertalentsinsweden.com.?