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Old 11.10.2011, 22:08
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Opinion sought - swiss vs english big bank as employer

Hi all,

I've been working in the a major swiss bank in the german part for the past 5.5 years. No salary increase for the past 4 years, no promotion. Was contacted by a recruiter last month for a similar position in an English bank based in the french part.

1. Any employees in the English bank based in the french part in this forum? What's your honest opinion of the said bank in terms of job satisfaction, personal development, side benefits and remuneration?

2. If i were to go to work in the french part but maintain my permanent residential address where it is now, where will i have to pay the taxes? I heard that some cantons insist that the taxes be paid if employed there, even if not residing there.

3. Salary in the English Bank may be roughly 18% more than current one. This is a major tip in the balance, but travelling and living expenses may even that out. Any opinion on what is a reasonable salary jump that can be asked for?

Thanks.

PM me for more details (bank names, locations, etc).
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Old 14.10.2011, 07:52
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Re: Opinion sought - swiss vs english big bank as employer

Just had the phone interview with HR, which, IMHO, went quite well. Am now waiting for the final offer.

I'd very much appreciate your views, it would help me to decide one way or another.

For more precision, the major swiss bank is the red and black one, based in the economic capital of this country, and the swiss french city is way down in the south west, at the end of the lake.

Thanks!
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Old 14.10.2011, 08:23
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Re: Opinion sought - swiss vs english big bank as employer

If you have a C permit you pay tax where you live, you can deduct travel expenses to your place of work on your tax form. The KM allowance I get when I work in GE is 404chf a day.
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Old 14.10.2011, 09:02
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Re: Opinion sought - swiss vs english big bank as employer

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If you have a C permit you pay tax where you live, you can deduct travel expenses to your place of work on your tax form. The KM allowance I get when I work in GE is 404chf a day.
Surely that's not right... four hundred and four franks a day to get to geneva and back?
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Old 14.10.2011, 09:25
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Re: Opinion sought - swiss vs english big bank as employer

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Surely that's not right... four hundred and four franks a day to get to geneva and back?
I put 6 trips by car from Zug to Basel and the tax deduction was around 1k, so yes ,it seems right. You are supposed to be saving 1 1/4 hours per day going by car or live/going to where there is no public transport or work out of hours for it to be deductible.

The tax rules encourage driving over taking public transport. I was surprised how many in my workplace come by car when there's a main train station so close.

Last edited by CH_Me; 14.10.2011 at 09:35.
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Old 14.10.2011, 09:46
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Re: Opinion sought - swiss vs english big bank as employer

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I put 6 trips by car from Zug to Basel and the tax deduction was around 1k, so yes ,it seems right. You are supposed to be saving 1 1/4 hours per day going by car or live/going to where there is no public transport or work out of hours for it to be deductible.

The tax rules encourage driving over taking public transport. I was surprised how many in my workplace come by car when there's a main train station so close.

Ok makes sense, I remember seeing something about this but isn't it an allowance per kilometer? around 40 rappen or something? Still a huge sum and the car would be worthless if you drive it 600km everyday...
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Old 14.10.2011, 09:50
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Re: Opinion sought - swiss vs english big bank as employer

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Surely that's not right... four hundred and four franks a day to get to geneva and back?
65cents a km do the maths yourself. Depending on when you start work public transport is not even an option. I suspect travel of 6-7 hours a day would put most people off.
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Old 14.10.2011, 09:54
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Re: Opinion sought - swiss vs english big bank as employer

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Ok makes sense, I remember seeing something about this but isn't it an allowance per kilometer? around 40 rappen or something? Still a huge sum and the car would be worthless if you drive it 600km everyday...
Running & maintaining a new car costs was more than the tax allowances. However using a 1994 BMW the maths works, expect the car to last 400,000km.
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Old 24.10.2011, 02:24
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Re: Opinion sought - swiss vs english big bank as employer

Hi everyone,

Thanks for the feedback, both here in the thread and in the PMs.

I turned the job down 3 times, and each time the recruiter came back... Looks like this time i'm going to accept it, mainly due to the uncertainty of future prospects in the current employment, and due to the pay rise (+16k base salary and +~10k allowances).

This means that i'll be looking for a place to stay during the week (plan to keep the domicile in ZH until the trial period is over), any hints on that?
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