Which job sector pays the most in Switzerland?
Brand new figures from the Federal Statistical Office (FSO) have revealed the average salaries of people working in standard professions. The report found that some sectors pay far more than others and that jobs in Switzerland remain highly lucrative compared to the rest of Europe.
Average gross monthly wage in Switzerland is 6.555 francs
The report found that the average gross monthly wage in Switzerland is 6.555 Swiss francs. This means that workers in Switzerland benefit from some of the highest salaries and the lowest taxes in the world; good compensation perhaps for the high cost of living.
Around 10 percent of residents in Switzerland are considered to earn a “low wage” - meaning their take-home pay is less than two-thirds of the median salary, making a threshold around 4.443 Swiss francs a month. Despite the narrowing of the gender pay gap in Switzerland in recent years, two-thirds of low-income earners are women.
Banking sector has the highest salaries in Switzerland
The highest salaries in Switzerland can be found in the Swiss banking and financial sector, with an average net salary of 10.211 Swiss francs a month. The high salary is said to reflect the unsociable working hours and overtime that many in the sector have to cope with.
Rounding out the top three were workers in the pharmaceutical industry and in Swiss pharmacies (10.400 Swiss francs a month), followed by workers in IT (9.200 Swiss francs a month). The lowest-paid job sector was the personal services sector - like beauticians and hairdressers - with monthly wages of 4.211 Swiss francs before tax.
Location and education had a large impact on Swiss wages
Wages in Switzerland are also heavily impacted by education. On average, those who attended higher education at a university or technical college were found to earn almost 2.000 Swiss francs a month more than those who completed the Swiss school system through apprenticeships or vocational training.
The FSO report also highlighted how wages change depending on where you live, with some Swiss cantons and cities offering far higher wages than others. Canton Zurich was found to have the highest median wages in the country, with Canton Ticino having the lowest.