Read news from:
Austria
SHARE
COPY LINK
For members

WAGES

What are Switzerland’s highest paying jobs?

Swiss salaries are famously higher than elsewhere in Europe, attracting many foreign workers to its shores. But in which jobs can you earn the most money?

Published: 15 August 2023 14:48 CEST
What are Switzerland’s highest paying jobs?
Doctors earn a lot of money in Switzerland. Photo: Pixabay

With a median monthly gross income of 6,555 francs (6,842 euros), Switzerland has some of the highest salaries in the world. 

‘Median’ means half of the working population earn more than this amount, and half less.

Based on most recent figures, these careers allow you to earn the most:

Surgeons and specialised doctors (indicated as annual salaries):  460,000 francs

Attorneys: 313,000

Company CEOs: 276,000

Orthodontists: 249,000

Airline pilots: 184,000

Judges; 387,000

Bank managers: 295,000

Chief Financial Officers: 258,000

University professors: 221,000

Marketing directors: 166,000

All of these positions require university degrees, which means you need academic credentials for top-paying jobs.

What jobs pay most if you are not a university graduate?

If you have finished a Swiss apprenticeship (vocational training), your salary level will depend on your chosen field as well as how long you have been working in the profession.

Overall, the average salary five years after completing training is 5,270 francs a month, according to the Federal Statistical Office.

In the IT sector, the salary is 1,100 francs above this average, while in sales, the monthly income is less than 5,000 francs.

The second-highest gross median income for full-time employment is that of nurses.

With an average of 6,060 francs per month after five years of employment, they are followed by apprentices with degrees in electricity and mechanical construction (5,445 francs), architecture and construction (5,425 francs), accounting, marketing and secretariat (5,367 francs) and the social sector (5,349 francs).

Lowest wages — below 5,000 francs a month — are in the retail and “personal services” sector.

In which part of Switzerland can you earn the most?

Much depends in which profession you are employed (see above). 

Generally speaking, the latest survey into this matter, carried out recently by the umbrella association of Swiss Universities of Applied Sciences, shows — not surprisingly — that salaries are highest in large cities, where most economic opportunities are.The figures also highlighted the difference between different parts of the country when it comes to wages. 

In Zurich, the country’s economic driver which contributes one fifth of national GDP, the median wage is 7,113 francs a month — well above the national average. 

In Geneva it is slightly less — about 6,700 francs, and in Basel, 6,500 francs.

How far will this salary go in Switzerland?

That is a valid question as the cost of living, especially in Zurich and Geneva, is very high.

The purchasing power of your income depends not only how much you earn and on your spending habits, but also where in Switzerland you live.

That’s because some cantons offer more bang for your franc than others.

According to a recent study, residents of Zug have most disposable income at the end of each month. (Not coincidentally, Zug is also the canton with the lowest tax rate in Switzerland.) 

Next are Schwyz, Nidwalden, Zurich, Obwalden, Appenzell Innerrhoden, Basel-Country, Geneva, and Basel-City.

READ ALSO: Swiss cantons with the highest (and lowest) purchasing power

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

WORKING IN SWITZERLAND

The pitfalls of Switzerland’s social security system you need to avoid

In most cases, Switzerland’s social benefits system functions well. But there are also some loopholes you should know about.

Published: 24 April 2024 13:37 CEST
The pitfalls of Switzerland's social security system you need to avoid

The Swiss social security system has several branches: old-age, survivors’ and disability insurance; health and accident insurance; unemployment benefits, and family allowances.

This is a pretty comprehensive package, which covers everyone who pays into the scheme for a wide variety of ‘what ifs’.

As the government explains it, “people living and working in Switzerland benefit from a tightly woven network of social insurance schemes designed to safeguard them against risks that would otherwise overwhelm them financially.” 

But while most residents of Switzerland are able to benefit, at least to some extent, from this system, others don’t.

What is happening?

If someone becomes ill or has an accident, Switzerland’s compulsory health insurance and / or accident insurance will cover the costs.

However, a prolonged absence from work can become costly.

That is especially the case of people employed by companies that don’t have a collective labour agreement (CLA), a contract negotiated between Switzerland’s trade unions and employers or employer organisations that covers a wide range of workers’ rights. 

READ ALSO: What is a Swiss collective bargaining agreement — and how could it benefit you?

It is estimated that roughly half of Switzerland’s workforce of about 5 million people are not covered by a CLA.

If you just happen to work for a company without a CLA, your employer is not required to pay your salary if your illness is long.

You will receive money for a minimum of three weeks – longer, depending on seniority — but certainly not for the long-haul.

You may think that once your wages stop, the disability insurance (DI) will kick in.

But that’s not the case.

The reason is that DI can be paid only after a year after the wages stop. In practice, however, it sometimes takes several years of investigations and verifications to make sure the person is actually eligible to collect these benefits, rather than just pretending to be sick. 

In the meantime, these people have to use their savings to live on.

What about ‘daily allowance insurance’?

Many companies (especially those covered by a CLA) take out this insurance, so they can pay wages to their sick employees for longer periods of time.

However, this insurance is optional for employers without a CLA is place.

As a result, small companies forego it because it is too much of a financial burden for them.

And people who are self-employed face a problem in this area as well: insurance carriers can (and often do) refuse to cover people they deem to be ‘too risky’ in terms of their age or health status.

Critics are calling the two situations —the length of time it takes for the disability insurance to kick in and gaps in the daily allowance insurance—”perhaps the biggest failures of the social security system.”

Is anything being done to remedy this situation?

Given numerous complaints about the unfairness of the current system, the Social Security and Public Health Commission of the Council of States (CSSS-E) will look into the “consequences of shortcomings and numerous dysfunctions in long-term illness insurance.”

But not everyone in Switzerland sees a problem in the current situation.

According to the Swiss Insurance Association (SIA), for instance, “making daily sickness allowance insurance compulsory for employers would not have the desired effect. Due to false incentives, it would only exacerbate the upward trend in costs and premiums.”

SHOW COMMENTS