Level of Swedish/Norweigan needed for Nordic IB?
What is the level of Swedish or Norwegian needed for Nordic IB and/or PE in Stockholm? Does it have to be native or business level or fluency? What about just Norwegian (which would help me in understanding Swedish, but not Swedish specifically)?
We used to live in Stockholm and my firm (to an extent) has worked with Nordic funds before. My partner is from the Nordics and we have family there.
- If you want to live and work in Sweden permanently your Swedish would have to be really good, especially in a pure Swedish team or with Swedish/Nordic funds exclusively. Even very fluent speakers will never sound native. This is the same situation as with many other EU languages though. There are websites which explain why this is and I won't go into detail here.
- The Swedish culture is very different from most other cultures English speakers would know, i.e. UK, US, Canadian, or Australian. It takes a while to understand this but it is possible to assimilate to it. I know many British and US Americans who ended moving to Sweden or Norway (for their wives, of course) and they are super happy up there.
Pretty much every person I met in Denmark, Sweden, Finland or Norway is very fluent in English. They are aware that they have beautiful languages, but not everyone in the world would speak it. If they realize that you are still learning or not entirely fluent, they might switch to English.
Lastly, most funds I have worked with aren't at the size of NYC or London based groups. Why would they? There are fewer spots for hires and I don't know how the local competition would look like. The good news is that many Nordic applicants want to move to London or NYC!
Thank you for this, what about those who only speak Norwegian but would live in Stockholm- any advantage? Or is it still useless
Also, any way you could elaborate a bit more on the assimilation process? Are people generally open to other western foreigners from the countries listed if you can show commitment to be there in the long term (assuming some level of language skills)?
What about those who do a Masters at a place like SSE and learn Swedish/
Norwegian while there, is that perceived positively or would their opportunities be limited in the region?
Is there a reason why you wouldn't focus on Norway if you speak Norwegian? You could also try landing a London based job at the Nordic companies. I am not sure how many Swedish people would need Norwegian speakers in Stockholm. Probably very little demand? Maybe our other Swedish users can say a few words. We still visit Sweden but don't live there any longer.
The culture is different, and language is only a part of it. It also encompasses demeanor, how you behave at the workplace, which culture you are from, how you come across/how you are perceived, and so much more.
A good source is thelocal.se and similar websites for expats.
If you deviate significantly from the "typical Swedish person or culture", your success might be limited. This includes race, name, religion and other aspects. Swedes are open minded people, but the corporate culture is also leaning towards avoiding risks or walking an unknown path. Google how applicants with very different sounding names fare up North. You won't be surprised.
US Americans and Western Europeans, as an example, are generally accepted by Swedish people. But don't forget that there aren't as many roles available in smaller markets.
This would help, yes!
links and sources:
www.thelocal.se
www.thelocal.no
https://www.temaasyl.se/Documents/Forskning/Forskningsstudier/What%E2%8…
Just wanted to help out here - knowing Swedish or Norwegian would be helpful if you were to work in Sthlm. Wouldn't say the difference is immense between which one of the languages you learn, see more on that below.
The key benefit is being able to take part in small talk before meetings, during lunch breaks, etc. Might seem petty but the value of these interactions accumulates over time and is really important to build trust and rapport in the Swedish community. It's difficult to completely neglect this part since Sthlm's finance scene is small and your network (which is strengthened by aforementioned trust and rapport) will be a key difference maker in the success of your career in Sthlm long-term.
IMO, it won't matter if you speak Norwegian or Swedish in Sthlm - the languages are similar enough to hold a Norwegian/Swedish conversation w/o having to switch to English.
All materials, majority of meetings, etc. will be in English, so it will be far more important being able to hold a conversation fluently in a Scandi language in informal settings vs. being able to read/write and be have a very polished "business tongue".
Incredibly helpful, thank you.
Thoughts then on my case of considering SSE for a masters while learning Swedish/Norwegian prior and during my study?
Agree but it also very much depend on the firm. Boutiques and the regional banks to some extent I would say speaking the local language is very important, as actually the majority of meetings with businesses (and even drafting sessions etc) will be conducted in eg Swedish. This is generally for smaller deals however, and to an extent ECM related, since key documents such as IPO prospectus, press releases etc are in local language. If you are at an international bank (EB/BB) you will be working on much larger and cross border deals when English definitely is the only language used.
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