Sweden has developed a world-wide reputation for its quality of life, mental wellbeing, and up & coming financial market. The Swedish rank in the top 10 for the happiest people in the world. So, moving here for work could allow you to spend more time with your family while advancing your career in accounting or transactional services.
Stockholm’s Finance Sector
Recent research from the Global Financial Centres Stockholm is home to the most competitive financial sector in the Nordic region. While Stockholm doesn’t rank as well as commercial hubs like London or Rome, it ranks far above other Scandinavian countries in terms of financial competitiveness and international diversification.
Stockholm is the home of the Stockholm Stock Exchange (Stockholmsbörsen) as well as numerous well-known financial institutions like Swedbank, Handelsbanken and Skandinaviska Enskilda Banken.
Stockholm’s service industry, including financial services, supports 85% of regional jobs. With a booming tech hub and historical background in finance, it’s also an exciting place for professionals within FinTech.
What’s It Like to Work in Stockholm’s Financial Industry?
While financial services may have a reputation for long hours and formal male-dominiated cultures, this isn’t the case in Sweden. Swedish businesses, across all industries, focus on promoting employee happiness, well being, and satisfaction.
So much so, that Sweden ranks 8th in the world, according to HSBC’s Expat Explorer survey, for work/life balance. In contrast, the UK only ranks 25th for work-life balance in this survey.
Swedish workers get 41 paid holiday days, almost 11 more days than British employees. Swedish business also encourages employees to spend time outside during the summer as it’s commonly thought that productivity improved when employees have time to relax and recharge.
If you’re planning on having children while living in Sweden, you’ll also benefit from some of the best parental leave in the world. New parents are given 480 days of leave, to share!
Sweden also has one of the most stable economies in the world, ranking 5th for economic stability on HSBC’s Explorer Expat survey. So you won’t need to worry about losing your job due to political turmoil.
Accounting & Transactional Service Firms Based in Stockholm
Stockholm’s Financial Service sector covers four main areas: banks, financial institutions, public accounting firms, and corporates.
Sweden is home to more than 114 banks, with the four largest accounting for more than 80% of the financial industry’s total assets. Top banks include:
Nordea Bank AB
Nordea Bank represents the largest financial group within the Nordic region and employs more than 30,000 employees across 19 countries. Its main headquarters are in Stockholm, but it has 1,4000 branches across Scandinavia and the Baltics.
Nordea Bank specialises in personal, commercial and wholesale banking and wealth management.
SEB Bank, another large financial institution with headquarters in Stockholm, employs 16,000 employees and has an extensive client portfolio of over 400,000 small and medium enterprises, 3,000 corporate customers and over 4million private customers. They specialise in financial, life insurance, and Eurocard services.
Svenska Handelsbanken AB
One of Sweden’s oldest banks, Handelsbanken provides financial products and services and employs over 11,759 employees with 880 offices across 20 countries, including the UK. They specialise in asset management, cash management, bank relations, debt capital markets, asset finance, international trade, corporate finance, research advisory, securities, and pensions.
What’s it Like to Live in Stockholm?
While progressing your career is undoubtedly important, it’s essential to have a nice life outside of work and be able to maintain your lifestyle. Sweden is known as an environmentally-friendly country with plenty of gorgeous outdoor spaces and welcoming family-oriented culture. So, it’s an ideal place to raise a family while also pursuing a rewarding career in financial services.
Stockholm also has plenty to offer in terms of culture, including amazing art galleries, concerts and sporting events. You can spend your evenings at the opera or theatre, or enjoying Stockholm’s many parks and islands.
With sunny summers and long daylight hours, Swedes spend a lot of time in local parks and nature reserves sunbathing, hiking, fishing and relaxing. It’s no wonder the country attracts so many nature enthusiasts.
Stockholm also has a very open and friendly atmosphere. People from all walks of life are welcome here and research from Nestpick ranks Stockholm as one of the best countries in the world for LGBTQ people.
Bringing the Family
Sweden is an excellent place to live with little ones. With more holiday time and a better work/life balance, you’ll be able to spend more time with your kids while they’re still young. Sweden also has an excellent education system, ranking 13th in the world in HSBC’s Expat Explorer Survey.
Sweden’s Education System
All children can attend school for free. Sweden even offers a free pre-school system for children, from birth. And, children after the age of six are given out-of-school care before and after school hours. So parents can attend work without having to worry about expensive childcare fees.
Regardless of age, Swedish children spend lots of time outside during the school day and are encouraged to learn through play — making Sweden an excellent place to grow up.
Sweden has an international reputation for its healthcare system. Everyone living in Sweden gets free health care and dental care up to the age of 23. After 23, residents receive subsidised dental care. With one of the best healthcare systems in the world, you won’t need to worry about healthcare fees while living in Sweden.
Ready to Start a Career in Transactional Services & Accountancy in Sweden
We have several exciting roles available within transactional services & accountancy in Sweden and Stockholm. Speak to one of our international recruitment specialists to learn more. We look forward to helping you relocate to one of the happiest cities in the world!
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