Previous post Next post

Bankers are no longer Switzerland’s top earners

The gross median monthly salary in Switzerland is CHF6,502 (2018).

The pharmaceutical industry and insurance companies have overtaken banking as the best paid sectors in Switzerland, according to the NZZ am Sonntag.

In 2016, bank executives took home an average gross salary of CHF220,000 ($220,394) per year, which is CHF 40,000 less than ten years ago.

The pharmaceutical sector, in contrast, is paying CHF280,000.

The German-language newspaper examined the (unpublished) figures of the 2016 wage structure survey.

The same picture emerges at the top level of management.

When it comes to senior bank managers, the average salary shrank from CHF660,000 to CHF530,000.

That’s about a fifth lower than what pharmaceutical and insurance company executives get.

Hans-Peter Portmann, vice-president of the Zurich Bankers Association (ZBV), explains that above all the variable remuneration and bonuses of banks have fallen significantly.

“At the middle management levels, the state sometimes even pays higher wages than the banking sector”, he said.

Full story here Are you the author?
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.
Previous post See more for 3) Swiss Markets and News Next post
Tags: ,

Permanent link to this article: https://snbchf.com/2018/11/bankers-switzerland-earners/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.