Go Back   English Forum Switzerland > Help & tips > Employment  
Reply
 
Thread Tools Display Modes
  #1  
Old 14.02.2008, 14:26
Newbie
 
Join Date: Feb 2008
Location: India
Posts: 1
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
Indian has no particular reputation at present
Savings Potential in Switzerland !

Hi Everyone

I am discussing a senior level Sales / Business Development position with Pharmaceuticals company having office in Switzerland. I am Engineer + MBA with about 10 years of work experience and currently based out of India. I have found useful employment, salary and cost of living information on this forum. I am trying to assess that given the relatively (very!) high cost of living in Switzerland compared to India and typical salary figures quoted in this forum, does it even make sense to consider this position. I have a small family with wife and expecting baby in about 3 months.

I am presenting below my current annual salary (including bonus), taxes, living expenses and Net Savings and what I should be earning to have the similar savings level in Switzerland.

Existing (converted to CHF)

Gross Salary (including bonus) 110000 CHF
Taxes 25000 CHF
Insurance (deducted by employer) 5000 CHF
Living Expenses 20000 CHF
Annual Savings 60000 CHF

Expected / Estimated (To maintain same level of Savings)

Gross Salary (including bonus) 235000 CHF
Taxes (assuming 25%) 58750 CHF
Social Security Deductions (deducted by employer) 25000 CHF
Living Expenses (assuming 7600 CHF per month) 91200 CHF
Annual Savings 60050 CHF

Also as mentioned in this forum annual increments in Switzerland are about 2%. Annual increments in India are about 15-20% and after adjusting for inflation of 7-8%, there is scope for increase in potential savings by about 8-10% annually.

Now I have following questions -

1. Is my estimation of taxes, social security and living expenses in Switzerland accurate ?
2. Is it possible to get 235000 CHF Gross Salary in Pharmaceuticals industry in Switzerland for my level of experience ?
3. Is it worth an effort to relocate to a different continent and realise that you are making same amount of money (savings) ? Typically in India it is normal to get increment of 20-25% on changing jobs.

We are currently residing in large metropolitan city in India and have comfortable (not luxurious) life with eating outs twice a week, 2 maids for cleaning and cooking etc. (and may be nanny in future) which are the small luxuries of India.

Thanks in advance for your feedback. Comments from Asian / Indian families in Switzerland who can relate to lifestyle in India would be welcome.
Reply With Quote
  #2  
Old 14.02.2008, 14:30
Forum Legend
 
Join Date: Jan 2007
Location: Geneva
Posts: 5,531
Groaned at 123 Times in 108 Posts
Thanked 3,297 Times in 1,737 Posts
Shorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond repute
Re: Savings Potential in Switzerland !

Quote:
View Post
2. Is it possible to get 235000 CHF Gross Salary in Pharmaceuticals industry in Switzerland for my level of experience ?
I think that while the possibility exists the probability would be quite close to zero.
Reply With Quote
  #3  
Old 14.02.2008, 14:54
Forum Legend
 
Join Date: May 2005
Location: Luzern currently
Posts: 2,565
Groaned at 3 Times in 3 Posts
Thanked 720 Times in 373 Posts
Richard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond reputeRichard has a reputation beyond repute
Re: Savings Potential in Switzerland !

1. Is my estimation of taxes, social security and living expenses in Switzerland accurate ?

If you want to maintain your current standard of living no. The "maids" would cost something like 3500 per month so 7000 per month. Food, accommodation and other expenses probably close to 5000 per month. Taxes are dependent on where you live but should be close to 45K if done reasonably and social security will be ca 7% plus pension contributions which could be anything from 0 to 7.5%

2. Is it possible to get 235000 CHF Gross Salary in Pharmaceuticals industry in Switzerland for my level of experience ?

Nothing is impossible but expect somewhere closer to 160000

3. Is it worth an effort to relocate to a different continent and realise that you are making same amount of money (savings) ? Typically in India it is normal to get increment of 20-25% on changing jobs.

That is for you to decide. Money is not everything you have quality of life and the opportunity to experience a new culture. How much that is worth is very much down to you...
Reply With Quote
This user would like to thank Richard for this useful post:
  #4  
Old 14.02.2008, 15:10
rhythmical remedy's Avatar
Forum Veteran
 
Join Date: Nov 2007
Location: Zürcher
Posts: 513
Groaned at 63 Times in 41 Posts
Thanked 201 Times in 130 Posts
rhythmical remedy has earned some respectrhythmical remedy has earned some respect
Re: Savings Potential in Switzerland !

You are earning currently 110000 CHF in India and not living a luxurious life? What you doing with the money? Try to enjoy life bit more rather than obsess over money. You ain't going to take money with you when you die.

P.S- People do very well in Switzerland on your current Indian salary. It all depends on what you like doing. CHF110k will go a long way for some but get blown up in no time for others.
Reply With Quote
  #5  
Old 14.02.2008, 15:20
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Savings Potential in Switzerland !

Quote:
View Post
I think that while the possibility exists the probability would be quite close to zero.
ridiculous ... 235k is not exceptional by any means for an MBA from a good school with 10+ years experience
Reply With Quote
  #6  
Old 14.02.2008, 15:26
Guest
 
Posts: n/a
Re: Savings Potential in Switzerland !

Thats what makes these questions so pointless. At the more senior levels, an MBA can earn 100k or 643k a year. It depends on what they negotiate of the employer thinks they are worth.

At the junior levels of employment where it is not so easy to relate the employees performance to company revenue, most employers have band of salaries.

As course its possible, but are you good enough ?

dave






Quote:
View Post
ridiculous ... 235k is not exceptional by any means for an MBA from a good school with 10+ years experience
Reply With Quote
  #7  
Old 14.02.2008, 19:54
Forum Legend
 
Join Date: Jan 2007
Location: Geneva
Posts: 5,531
Groaned at 123 Times in 108 Posts
Thanked 3,297 Times in 1,737 Posts
Shorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond repute
Re: Savings Potential in Switzerland !

Quote:
View Post
ridiculous ... 235k is not exceptional by any means for an MBA from a good school with 10+ years experience
In finance - quite probably.
Reply With Quote
  #8  
Old 15.02.2008, 10:54
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Savings Potential in Switzerland !

Quote:
View Post
In finance - quite probably.
or Sales and Marketing ...

or IT

or Corporate Strategy

or Human Resources

or Operations ...
Reply With Quote
  #9  
Old 15.02.2008, 14:33
Guest
 
Posts: n/a
Re: Savings Potential in Switzerland !

Existing (converted to CHF)

Gross Salary (including bonus) 110000 CHF
Taxes 25000 CHF
Insurance (deducted by employer) 5000 CHF
Living Expenses 20000 CHF
Annual Savings 60000 CHF


With your current situation (in switzerland), you can only save less then half of your current saving, having normal life style without maid.
Reply With Quote
  #10  
Old 04.02.2009, 11:32
Junior Member
 
Join Date: Dec 2008
Location: CH
Posts: 80
Groaned at 1 Time in 1 Post
Thanked 36 Times in 21 Posts
kops has made some interesting contributions
Re: Savings Potential in Switzerland !

Quote:
View Post
Hi Everyone

I am discussing a senior level Sales / Business Development position with Pharmaceuticals company having office in Switzerland. I am Engineer + MBA ...
If I were you, I will come to Switzerland for a long vacation to figure what I am getting into.

At your current salary in India, I would say that you have pretty much every thing at your disposal. In Switzerland I am not sure if your position will be so extra-ordinary. Once a doctor in India cribbed to me that how little difference is there between the earning potential of a doctor and nurse in Switzerland. He earns probably 40 times more than the nurse in India while here the difference will not be so drastic. Though he was cribbing about it, it was one of the things that impressed me about this country.

As someone else suggested, its up to you. Having a conversation at par with a maid, or a cleaner, or a postman, or a nurse, or a daily wager is impossible in India. Here it is pretty much the norm. You and only you can decide how to convert that into CHF, for its a different number for everyone.

cheers,
Reply With Quote
  #11  
Old 04.02.2009, 12:43
NickH's Avatar
Member
 
Join Date: Aug 2008
Location: Vaud
Posts: 185
Groaned at 0 Times in 0 Posts
Thanked 94 Times in 55 Posts
NickH has earned some respectNickH has earned some respect
Re: Savings Potential in Switzerland !

Worry more about the cultural differences. Each country has their advantages and disadvantages

India:

Great cheap food
Cheap help

Switzerland:

Clean air
Mountains and Snow
Europe at your doorstep
Commuting time
Nicer cars/roads

Its hard to have everything. Consider getting a maid once a week if you need to. If your living in Mumbai I find the quality/price of apartments better here. But if your expecting to live the same here it would be safter to stay where you are at. Change is change.
Reply With Quote
  #12  
Old 04.02.2009, 12:57
möpp's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: Zurich
Posts: 1,201
Groaned at 2 Times in 2 Posts
Thanked 1,079 Times in 547 Posts
möpp has a reputation beyond reputemöpp has a reputation beyond reputemöpp has a reputation beyond reputemöpp has a reputation beyond repute
Re: Savings Potential in Switzerland !

Guys - the OP asked his questions in February of last year! I expect he's made his decision by now
Reply With Quote
This user would like to thank möpp for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Savings Account lyris Finance/banking/taxation 19 14.03.2014 10:13
Daylight Savings Natasha Daily life 28 26.10.2008 11:32
Savings jamesWtc Daily life 2 18.08.2007 03:36
using savings accounts in the UK Grant Green Finance/banking/taxation 6 27.03.2007 12:46
Daylight Savings Time Lob Daily life 3 29.10.2006 11:31


All times are GMT +2. The time now is 09:37.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0