Swiss salary trends 2024: Finance offers highest salaries, IT and digital marketing on the rise
Michael Page's 2024 Salary Survey and Recruitment Trends show that the financial services sector continues to pay the highest salaries for executives and senior managers. Jobs in IT and digital marketing have seen the highest growth in the last twelve months at 6-10%.
The financial services sector occupies the top three of the five highest-paid professions in Switzerland.
|
Job title |
Minimum (CHF) |
Average (CHF) |
Maximum (CHF) |
|
Head of Private Banking |
250'000 |
320'000 |
500'000 |
|
Chief Financial Officer (in multinational companies) |
280’000 |
360'000 |
450'000 |
|
Chief Investment Officer (in the financial services sector) |
220'000 |
320'000 |
450'000 |
|
Chief Human Resources Officer (in multinational companies) |
240'000 |
300'000 |
400'000 |
|
Head of Trading (goods) |
200'000 |
300'000 |
400'000 |
Digital marketing and IT achieve the highest wage increases
The job categories with the highest salary growth in the last twelve months include digital sales and marketing (+10%), followed by IT (+6%). The increases in digital sales and marketing mainly relate to jobs in the areas of user interface and experience (UI/UX), e-commerce, search engine optimization and advertising (SEO and SEA). The IT sector recorded salary increases at all levels with the exception of management level. The IT professions most in demand are developers, infrastructure engineers and IT business analysts.
Sectors where wages have increased by 5% in the last twelve months include finance and accounting - for lower to mid-level candidates - healthcare and life sciences, procurement and supply chain, real estate and construction, and office and management support. These increases can be observed even after taking inflation into account, which is estimated at 1.4 to 1.6 % for 2024 (source: SECO).
Performance and demand for talent drive wage increases
Yannick Coulange, Managing Director of PageGroup Switzerland, explains: "The salary increases are performance-based. This is a direct consequence of the current economic environment, in which it is more difficult to achieve ambitious growth targets and in which cost constraints prevail."
The study shows that transparent salary discussions are more important than ever. Nine out of ten people who have started a new job in the last year are open to new opportunities. For this reason, it is important for employers to conduct proactive salary discussions. In these discussions, they should explain how salary is determined in the company and how it relates to career opportunities. Such regular discussions help to ensure that expectations regarding salary and career development do not diverge.
Source: www.michaelpage.ch
