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‘In Sweden, everyone follows the system’

Prashant Jain, 29, moved to Sweden to work at an asset management company. He tells The Local how working in investments gives you a global outlook, and how Swedes don't buck the system.

Published: 28 December 2015 06:00 CET
Updated: 28 December 2015 07:47 CET
'In Sweden, everyone follows the system'
Photo: Private

 

Originally from India, Jain moved to Stockholm in 2012 for a job as Assistant Portfolio Manager, specializing in investments.

Jain says his day-to-day tasks involve researching different markets and advising clients on the best markets worldwide to put their money into. 

Another aspect of Jain’s work involves looking at so-called 'big data' and research to find out public sentiments towards different markets.

“Right now, we are seeing the impact of the Paris attacks on France’s stock market. People get scared and it affects investments. The same thing happened in Turkey last year due to the unstable political situation – no one invested in Turkey so everyone sold off their stocks. 

And it’s not just political events that affect finance. Jain tells us: “During the last World Cup, when Brazil lost there was a negative sentiment towards them. Lots of people said that if they had won, it would have boosted the Brazilian financial market.”


Photo: Private

“Working in investment gives you an outlook onto the whole world,” explains Jain. “It helps you understand the world around you and what’s going on. Everything has an impact on the financial market – and vice versa.”

Having a job at a global firm in Stockholm has also opened Jain's eyes to cultural differences in how people do business. He notes that in Sweden, people in his field are often less open to trying out new technologies in finance and are more sceptical about taking risks.

“Clients are a bit more laid back compared to the US or the UK. In finance they are less likely to take risks here, they are happy with what they have,” he says.

A preference for security also has an impact on the financial career ladder in Sweden. “For example, if you want to be a Portfolio Manager here you need ten or more years’ experience,” says Jain. “In the US you could be a 19-year-old, they spot talent, but in Sweden everyone follows the system.

“If I had to sum up the financial world in Sweden, it would be stability and security. In American culture there is a huge potential to make it big very quickly, but you can also fall down. Here, if you know the system, you don’t have to worry about things. It’s less stressful and that’s why people are so much happier.”


Photo: Private


Although job stability is more likely in Sweden, Jain also comments that the finance market is much smaller compared to Asia, the UK or the US. He tells us: “Here, it all depends on how you perform. There is no space for making mistakes – it’s challenging, but fun if you love your job. I was always very focused and it’s a good opportunity if it’s what you really want to do.”

Alongside his day job, Jain has also found time to work on entrepreneurial projects, for example his recent launch of Bollywood films in Sweden, inspired by his interest in Indian film and his contacts in the Bollywood industry.

Even when talking about this personal project, Jain's language shows his financial background. “I saw that there was a market for international films, and limited supply in Sweden,” he explains. “So far, the response has been tremendous, and I hope that it will help with integration.”

“It was a good opportunity to step out from my day job, do something to feel happy and give back to the community by bringing people together,” he told The Local.

Of course, balancing entrepreneurship alongside a demanding job in finance is hectic, but Jain is pleased with the decision he has made: “It’s very stressful and hectic, but if you have high ambitions you have to do a lot of work. Overall, I am very happy I chose to come to Sweden.” 

For members

WORKING IN SWEDEN

‘Reassess your cultural background’: Key tips for foreign job hunters in Sweden

Many foreigners living in Sweden want to stay in the country but struggle to find a job, despite having relevant qualifications. The Local spoke to three experts for their advice.

Published: 7 May 2024 09:00 CEST
'Reassess your cultural background': Key tips for foreign job hunters in Sweden

One international worker who found it hard to land her first job in Sweden is Amanda Herzog, who eventually founded Intertalents in Sweden with the aim of helping other immigrants find work in the country.

Herzog originally came to Sweden to study at Jönköping University and decided to stay after graduating.

“I thought it would take three months, maybe six months to find a job, I was prepared for that,” she told The Local during a live recording of our Sweden in Focus podcast held as part of Talent Talks, an afternoon of discussions at the Stockholm Business Region offices on how to attract and retain foreign workers in Sweden.

“What happened was it took over 13 months and 800 applications to actually get a job in my industry, within marketing.”

During this time, Herzog was getting multiple interviews a month, but was not getting any further in the process, despite showing her CV to Swedish recruiters for feedback.

“They were baffled as well,” she said. “By the time I landed my dream job, I had to go outside of the typical advice and experiment, and figure out how I actually can get hired. By the time I got hired, I realised what actually works isn’t really being taught.”

‘Reassess your cultural background’

Often, those who come to Herzog for help have sent out hundreds of CVs and are unsure what their next steps should be.

“My first piece of advice is to stop for a second,” she said. “Reassess your cultural background and how it fits into Sweden.”

Herzog, for example, discovered she was interviewing in “the American way”.

In the US, when asked to tell an interviewer about yourself, you’d be expected to discuss your career history – how many people have you managed? Did sales improve while you were working there? – while Swedes are more likely to want to know about you as a person and why you want to work in a specific role for their company in particular.

“A lot of people don’t know this, so imagine all of the other cultural things that they’re doing differently that they learned in their country is normal,” Herzog adds.

“Just start with learning, because it could be that you don’t need to change very much, you are qualified, you just need to connect with the Swedish way of doing things.”

 
 
 
 
 
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Networking is important

“Don’t hesitate to reach out for help and guidance,” said Laureline Vallée, an environmental engineer from France who recently found a job in Sweden after moving here nine months ago with her partner, who got a job as a postdoc at KTH Royal Institute of Technology.

“You tend to insulate yourself and consider yourself not capable, but you’re not less capable than you were in your home country, you just need to explain it to the employers.”

Another tip is to network as much as you can, Vallée said.

“Networking is really important here in Sweden, so just go for it, connect with people in the same field.”

This could be through networks like Stockholm Akademiska Forum’s Dual Career Network, which helps the accompanying partners or spouses of foreign workers find a job in Sweden, or through other connections, like neighbours, friends, or people you meet through hobbies, for example.

Make a clear profile for yourself

Another common issue is that applicants are not presenting themselves clearly to recruiters, Stockholm Akademiska Forum’s CEO, Maria Fogelström Kylberg, told The Local.

“If you’re sending 600 applications without an answer, something is wrong. We have seen many people looking for jobs working in a supermarket, and the next application is a managing director post,” she said. “You have to decide ‘who am I? What do I want to do?’, you have to profile yourself in a clear way.”

This could be editing down your CV so you’re not rejected for being overqualified, or just thinking more closely about how you present yourself to a prospective employer.

“Which of my skills are transferable? How can I be of use to this company? Not what they can do for me, but what problem can I solve with my competence?”

Job hunters should also not be afraid of applying for a job which lists Swedish as a requirement in the job description, Fogelström Kylberg said.

“Sometimes if I see an ad for a job and I have a perfect candidate in front of me, I call the company and say ‘I have a perfect candidate, but you need them to speak Swedish’, they then say ‘no, that’s not so important’. This is not so unusual at all so don’t be afraid of calling them to say ‘do I really need perfect Swedish?’”

Listen to the full interview with Maria Fogelström Kylberg, Amanda Herzog and Laureline Vallée in The Local’s Sweden in Focus Extra podcast for Membership+ subscribers.

Interview by Paul O’Mahony, article by Becky Waterton

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