Wages in the financial sector stagnate
With a gross annual salary of 91,000 Swiss francs, the finance occupational group earns only 0.54 percent more than in 2016, according to the latest salary study by Careerplus. Top salaries continue to be paid to managers and employees with good foreign language skills.
Salary study_Finance_Switzerland_Careerplus_2018 The salary studies of Careerplus provide detailed insights into the salary structure of various occupational groups. The current publication with figures from the finance sector now shows: Despite stagnating wages, the finance occupational group earns above average. The gross annual salary of 91,000 francs is around 22 percent above the Swiss average. The top earner, with an average gross annual salary of 150,000 francs, is the CFO, followed by the head of controlling with an annual salary of 140,000 francs. In addition to professional experience and further training, the most important factors influencing salary development are, in particular, language skills and management responsibility.
Foreign language skills are relevant to wages
If a head of finance and accounting leads a team of 5 to 10 people, his salary increases by around 20,000 francs per year, and by as much as 30,000 francs for a team of more than 10 people. The picture is similar for auditors, who can increase their salary by almost 50 percent to an average of 156,500 francs with the corresponding management responsibility. Foreign language skills also have a positive influence on salary, as the example of the fiduciary reveals. A trustee who speaks at least two foreign languages earns an annual salary of 115,000 Swiss francs, around 25 percent more than a colleague without such skills.
Are the wages fair and reasonable?
For the Finance Salary Study, the HR consultancy Careerplus analyzed the dossiers of 2843 finance professionals in nine different job profiles from the beginning of 2015 to the end of 2017. The study provides comprehensive information on the gross annual salary for the relevant age and function ranges and shows the salary development potential based on education and training as well as management and professional experience. The study also includes a form for individual salary calculations. This allows candidates to see whether their salary demands are in line with the market, and companies receive a comparative value for shaping salaries.
Click here for the study with different job profiles
