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  #41  
Old 15.10.2015, 12:51
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Re: Front office salaries at UBS/CS?

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To make move to another country, I would expect some benefit in doing so. . Presumably the reason the company is looking to employing foreigners who don't speak the language would imply a shortage of locals. What employed locals earn has no relevance at all

When I came to CH in 1994, I was paid roughly twice of the Swiss employee I replaced, he was sacked.
If it's about shortage, that's something else.
You can then pretty much ask whatever you like and discuss with them and see if it's possible. There is no reason to discuss this here I think.
Not a lot of people have a similar situation like you. I would just give them a range like 150 - 170k (this is what you would like to have), and go from there.
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  #42  
Old 04.11.2015, 13:16
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Re: Front office salaries at UBS/CS?

Just thought I would provide you with an update. The company offered me CHF140k with a relocation package (valued at CHF5K) plus they will cover my family's flights to Zurich. No discussion of what to expect bonus wise as it's dependent on various factors.

All in all a reasonable package based on my research and comments from this forum. Based on my current salary of £85k and the current FX rate of 1.53 it's basically my UK salary converted into CHF.

Thanks for your help!
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  #43  
Old 04.11.2015, 13:49
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Re: Front office salaries at UBS/CS?

That's a take home of C. 9K per month depending on your exact location, which on the face of it compares nicely to the UK take home?
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  #44  
Old 04.11.2015, 13:56
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Re: Front office salaries at UBS/CS?

its a reasonable offer, but your salary in london was already good, factoring cost of living you wouldnt notice the benefit much...plus i have a feeling the GBP will only get stronger. rather than salary it just comes down to which city would you prefer to be in
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  #45  
Old 04.11.2015, 14:20
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Re: Front office salaries at UBS/CS?

I assume CHF 140k is the base salary (i.e. excluding bonus). If you want to know whether that's a fair salary or not, you should specify to followings:

1) Is this a credit analyst position (i.e. bottom-up research) or a strategist position (i.e. top-down / strategy research)

2) In which business: Wealth Management (i.e. private banking)? Advisory? Asset Management? Or Investment Banking (which I doubt as UBS/CS IB desks are in London and NY)
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  #46  
Old 04.11.2015, 14:49
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Re: Front office salaries at UBS/CS?

140K is the base, no idea about bonus potential. This is in the wealth management business and not investment banking. The work will involve bottom-up fundamental corporate credit analysis on European high yield issuers which is what I do now in my current position.

To put things into perspective, my after tax take home pay in the UK is 4.4k per month. I spend c.50% of this on renting a 2 bed apartment in East London (zone 2) including council tax. After all of my expenses I save roughly £500 month. We don't eat often out or spend extravagantly.

The key issue in London is the cost of private education (£10k p.a. per child) and the difficulty of trying to save for a deposit on a house. For both of these I rely 100% on my bonus which is discretionary and heavily taxed. In Zurich I would send my daughter and future children to the local state schools which would save me a fortune and eliminate my dependence on bonuses.
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  #47  
Old 04.11.2015, 15:04
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Re: Front office salaries at UBS/CS?

You could move out towards Essex and commute v easily to the city. Great state schools, nice areas, plenty for young families. Decent (though rising) property prices......

Anywhere like Wickford, Rayleigh, Billericay, Southend, Leigh on Sea, Westcliff etc etc.

Don't get me wrong, I'm all for an exciting international move/adventure (hoping my application to a job in Switzerland will be successful!) but sometimes the answers we seek are right under our noses
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  #48  
Old 04.11.2015, 15:07
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Re: Front office salaries at UBS/CS?

Take the Zürich job. Think of the children! The public schools are excellent in Switzerland.
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  #49  
Old 04.11.2015, 15:11
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Re: Front office salaries at UBS/CS?

"How can I live on 140k?"

Coming to a forum near you soon
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Old 04.11.2015, 15:14
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Re: Front office salaries at UBS/CS?

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140K is the base, no idea about bonus potential. This is in the wealth management business and not investment banking. The work will involve bottom-up fundamental corporate credit analysis on European high yield issuers which is what I do now in my current position.

To put things into perspective, my after tax take home pay in the UK is 4.4k per month. I spend c.50% of this on renting a 2 bed apartment in East London (zone 2) including council tax. After all of my expenses I save roughly £500 month. We don't eat often out or spend extravagantly.

The key issue in London is the cost of private education (£10k p.a. per child) and the difficulty of trying to save for a deposit on a house. For both of these I rely 100% on my bonus which is discretionary and heavily taxed. In Zurich I would send my daughter and future children to the local state schools which would save me a fortune and eliminate my dependence on bonuses.
good luck on the move. do send an update to help anyone else who is in the same situation as you once you've settled in!
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  #51  
Old 04.11.2015, 15:33
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Re: Front office salaries at UBS/CS?

Have you been offered an AVP/AD or a VP/D (CS/UBS titles)? If it is the latter you can add 700 a month tax free to your salary as a T&E allowance, per my earlier post. I suspect the pension will also be far better than your London one.

Btw living in canton Schwyz (particularly the three communities closest to the border with Zurich) rather than Zurich is likely to boost your post tax income by a material amount (tax will be roughly half what it is in Zurich city) and IMO you get more for your money renting too.
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  #52  
Old 04.11.2015, 15:40
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Re: Front office salaries at UBS/CS?

70% of last salary if no dependents, 80% with wife & kids, max contract length 2 years .........
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  #53  
Old 04.11.2015, 16:05
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Re: Front office salaries at UBS/CS?

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The key issue in London is the cost of private education (£10k p.a. per child) and the difficulty of trying to save for a deposit on a house.
From what I have seen the cost of private school around here is CHF 20-25k pa ...and that's just Kindergarten. Public schooling will be practically free...but in German.
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  #54  
Old 04.11.2015, 16:09
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Re: Front office salaries at UBS/CS?

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From what I have seen the cost of private school around here is CHF 20-25k pa ...and that's just Kindergarten. Public schooling will be practically free...and in German!
FTFY.

Great benefit!
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Old 04.11.2015, 16:12
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Re: Front office salaries at UBS/CS?

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From what I have seen the cost of private school around here is CHF 20-25k pa ...and that's just Kindergarten. Public schooling will be practically free...but in German.
Considering the number of foreigners it should be English.
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  #56  
Old 04.11.2015, 19:10
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Re: Front office salaries at UBS/CS?

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140K is the base, no idea about bonus potential. This is in the wealth management business and not investment banking. The work will involve bottom-up fundamental corporate credit analysis on European high yield issuers which is what I do now in my current position.

To put things into perspective, my after tax take home pay in the UK is 4.4k per month. I spend c.50% of this on renting a 2 bed apartment in East London (zone 2) including council tax. After all of my expenses I save roughly £500 month. We don't eat often out or spend extravagantly.

The key issue in London is the cost of private education (£10k p.a. per child) and the difficulty of trying to save for a deposit on a house. For both of these I rely 100% on my bonus which is discretionary and heavily taxed. In Zurich I would send my daughter and future children to the local state schools which would save me a fortune and eliminate my dependence on bonuses.
Take into account the lower taxes in Zürich and the cheaper rents and it's a win. Congrats.
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  #57  
Old 04.11.2015, 20:57
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Re: Front office salaries at UBS/CS?

A few good links on Swiss Salaries:

http://www.payscale.com/research/CH/...ry/by_Employer

FAQ: A brief guide to salaries in Switzerland

http://www.bfs.admin.ch/bfs/portal/e.../salarium.html

http://www.lohncomputer.ch/en/wages.html

http://www.swissinfo.ch/eng/salaries/29235700

http://bfy.tw/2cvS


See also image attached
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