Hello,

I am a recent Economics graduate planning on relocating to Switzerland in the near future. I intent to apply for positions within Private Banking or broadly speaking, the financial services sector.

I was wondering if anyone could possibly give me some advice on this - either from personal experience or through people you may know already in this sector?


Many thanks


Raphael

Welcome and good luck.

I have unfortunately very little affinity with private banking sector and afraid it will stay that way for many more years to come.

What sectors are you familiar with? And what advice could you give me from living in so far?

Thank you

Kind regards

Raphael

Hi Raphael and welcome to the forum.

I don't work in the finance sector, but I'm sure many here will agree with me on this much... Please don't relocate to Switzerland before securing work. This really isn't the kind of place you can move to 'on spec', and you would need to prove to immigration that you have at least CHF 30,000 p.a. to support yourself. The cost of living is higher than most (if not all) areas of London, and whilst the wages may appear attractive, it should really be a move motivated by having something great to put on your CV.

I admire your ambition, but the route has to be paved with caution and security. The best that you can do at this early stage of your career is to send your CV to the recruitment agents in your field and see if you get any feedback.

Good luck!

Do you speak German? If not, forget it. There are very few (if not zero) entry level opportunities for non-German speakers.

Where are you from (or at least, what passport do you hold), EU or non-EU?

If non-EU then your chances will be severely limited, even with German language ability.

Unless he is from a market that is interesting to private banking and can demonstrate a network there e.g. Russia.

What sector do you work in? Does your sector have roles for economic graduate students? I will definitely take the necessary measures and remain cautious too. Thank you very much for your advice. I am very determined to make this become a reality. If you do know anyone offering internship/ graduate scheme to an english speaking economics graduate then do please let me know. I need as much guidance as I can get.

From your experience do any companies employ people that are only speakers of English, with a view that the individual is open to learning German? It's intriguing that worldwide firms are narrowing the job market for only those who can speak English and another additional language. I did not expect this.

Kind regards

Raphael

Because in Switzerland there is a huge pool of well educated people that do speak several languages so why narrow to people who speak one language only?


Check the threads here? Yes, if you are good you can find a job. Will it be easy? Depends partly from what your nationality is (much more difficult for non EU persons) and what you can.

I am from Oxford (England). I am considered a British Citizen, therefore I can move to another EU country without needing a work permit, am i correct?

Thank you

Kind regards

Raphael

Switzerland isn't an EU country

it is good that you realize Switzerland is NOT in the EU but only in Schengen Zone?
I assume what other people are trying to say that since there are so many availables in the country with eligible work permit etc... that company does not need to go thru some processes required for your work permit

Thank you!

Thank you very much! I appreciate your response.

What does that mean? ARE you a British citizen or are you the equivalent of a permanent citizen? Just asking because to me that is a very peculiar way of quoting your nationality (I'm not an English native speaker so maybe it's a normal way of saying it though)

As far as I know, private banking positions require language skills (here, German or French and sometimes both).

Why Switzerland? Why not make your start in London, a far larger and more important market?

The Swiss financial sector has taken quite a hit in recent years and has struggled to find it's way forward in the new economic reality. No one has a crystal ball, but it is not unreasonable to see more opportunities for career building outside of Switzerland.

If you are a recent graduate looking to break into the financial sector I would counsel 'not Switzerland' unless you already have established ties here. (Or if you had a reason for wanting to move here other than your career.) Switzerland is generally not where one builds a career - that's NY, Asia, London. Well, London until Brexit hits. (Swiss banks will need an EU presence post Brexit, for regulatory reasons.)

Just something to think about.

I'm in Switzerland because my partner was recruited by a consultancy. He'd worked in Switzerland for a few years previously, and is now back with the same company.

My career was in Business Travel, and I currently don't work because my language skills aren't good enough, so I'm studying German, French, Italian and Greek. I have the basics in those four languages, but nowhere near what would be required to re-enter my career in a German speaking office. What I do have in my favour is that my former ops manager operates several contracts out of the company's Zurich office, and wants me back on her team when I'm ready.

Even with a British passport, excellent work references, and 11yrs service with my previous employer, I'm fully aware that I need to bring something extra to the table to make me an attractive prospect over my Swiss counterparts who will already be fluent in German and English.


What I'm trying to say to you is that this isn't an easy relocation.

It would help us if you could answer these questions please.

What nationality passports do you hold?
What languages do you speak and to what level of fluency?

The international companies will take on people who only speak English - but only if they've already got the experience those companies want. There are very very few, if any, (graduate) entry level positions for non-local-language speaking people.

My son has a very good masters in a relevant subject, has been through the Swiss education system, and is bilingual English/German - and he's still not finding it that easy to get his first job. What chance do you think you have if he's finding it difficult?

Simply not true. I work with Anglos and various Europeans who speak English or English plus their mother tongue and not a word of French or German. (Swiss) German helps a lot, but isn't essential if you bring other things to the table.

Having said that, and particularly relevant for the OP, I can't think of many juniors who aren't Swiss or don't speak German.

And if OP would mention what his nationality is, it would be easier to tell whether he has a chance at all?