Executive salaries 2022: Where they are highest

The latest wage survey from staffing firm Michael Page finds that executive wages in 2022 will be highest in banking, finance and healthcare. The five occupations with the highest wages across all industries are:

But managers in other occupational fields also earn good salaries. For example, executive salaries in Marketing & Sales are also well above CHF 200,000 per year (e.g., as Head of Sales & Marketing, you can expect an average salary of CHF 270,000). And in the equally strategically important area of Purchasing and Supply Chain, high salaries are paid - depending on the industry. For example, a head of purchasing in the medical technology/pharmaceutical industry earns an average of around CHF 275,000. At the other end of the scale are the salaries paid to heads of SMEs: a head of finance has an average salary of CHF 190,000 (in comparison: the salary of a CFO of a multinational company averages CHF 360,000).

Despite the economic upswing and the shortage of skilled workers, the majority of wages remain stable, according to Michael Page's summary conclusion.

Swiss job market will continue to grow

The study predicts that the Swiss job market will continue to grow in 2022 despite the pandemic. The number of advertised jobs increased by 39% between January and December 2021, according to Michael Page. IT Cloud and Dev Ops (+195%), Procurement & Supply Chain (+55%), and Healthcare & Life Sciences (+39%) are among the industries that have seen the most growth in the past year. The shortage of skilled workers, constraints due to budgets and the increasing demand from applicants for flexible working conditions also led to an increase of 42 % in the number of temporary positions advertised.

Boss wages alone do not bind managers

Yannick Coulange, Managing Director of PageGroup Switzerland, says: "Recruiting and retaining talent will remain a challenge in 2022. That's why companies must rely on diverse recruiting strategies to win the battle for talent. That may mean offering employees a flexible work environment, authentic conversations about career planning, or training and development opportunities." That means: It's not all about high boss salaries.

Flexibility is the top priority

Based on Michael Page's survey of 22,300 job applicants in Switzerland, it appears that companies that offer flexible work options attract the best candidates. These options include home office, a hybrid work environment, and the ability to work on an hourly or freelance basis. Other important factors for candidates are work-life balance and the opportunity to work with inspiring management.

Source and further information: Michael Page. The complete Salary Guide can be obtained here.