A new report from Robert Half has revealed what salaries in Switzerland are expected to look like in 2024, and which jobs and sectors will offer the highest pay. They predicted that the ongoing worker shortage will likely force companies to offer even higher wages, with some advertising six-digit salaries for entry-level positions.
In the study, reported on by The Local, the recruitment agency forecast that the job market in Switzerland will continue to grow in 2024. “Despite economic uncertainty and multiple global crises, the overwhelming majority of companies across all areas surveyed want to continue to hire new employees or at least maintain their workforce,” the report noted.
However, this enthusiasm to grow is tempered by the ongoing shortage of workers. The report found that in the industries most affected, companies are having to offer extremely high salaries for positions that can be filled by recent graduates of university. In many cases, entry-level positions are being advertised with salaries above 100.000 francs a year, especially in the banking, IT and business sectors.
So long as they have the right qualifications, Robert Half forecasts that people hoping to work entry-level positions in credit and risk management should expect to be offered salaries of 127.000 francs a year on average in 2024, far higher than the average Swiss salary of 80.000 francs. Entry-level salaries in helpdesking (110.000), human resources (103.250), software development (101.500), system engineering (100.500) and data science (100.000) were also extremely high.
Renata von Gottberg, Robert Half director and branch manager in Zurich, said that a depleted pool of job applicants is what is sending salaries into the stratosphere in some sectors. “The pressure on HR managers [to fill vacancies] is immense... There are many open positions, with few available staff,” she added.
Sectors involved in ever-evolving technologies like IT and complex financial tasks like accounting are also more willing to pay higher salaries. “The shortage of skilled workers, but also companies’ requirements for numbers and reporting, are catapulting salaries for the entire accounting department to new heights,” noted Robert Half director Eva Mahoney.
The news gets even better for those who have “above average qualifications” and a lot of experience in their fields. Next year, new, experienced compliance managers are expected to be offered salaries of 168.000 francs a year on average. High salaries are also expected to be given to new account managers (153.000), payroll accountants (132.500), human resources specialists (122.500) and personal or management assistants (115.250).
For more information about the study, visit the official website.