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-   -   Salary bands for IT at Banks (https://www.englishforum.ch/employment/293545-salary-bands-banks.html)

timpeterson 14.08.2019 22:04

Salary bands for IT at Banks
 
Can someone add salary suggestions to these salary bands? (cs/ubs/jb/vt) Iím considering being turned from contractor to permanently but since the contractor rate is ~180.000/y (720/day) Iím not sure if permanent will ever match up with the pay & freedom of contracting. I could probably get an avp/vp position but my impression is it takes 10 years & enduring tons of politics inside same company to reach the vp/dir/mdir where the pay starts to be interesting.

Also what is currently the higest day rates and what skillset is needed?
(minimum contracts of 1/2year+)

- Highest iíve seen/heard of is 1200chf/Day more common is 700-1000chf/day. For for example full stack web developer or frontend web developer.


Thank you in advance.

--------------------------------------------

6 CIO
20+ years of experience
--------------------------------------------

5 IT Director
15 - 20 years of experience
Salary: Min=? Ave=? Max=?
--------------------------------------------

4 IT Vice President (VP)
10 - 15 years of experience
Salary: Min=? Ave=? Max=?
--------------------------------------------

3 IT Associate Vice President (AVP)
5 - 10 years of experience
Salary: Min=? Ave=? Max=?
--------------------------------------------

2 IT Associate
3 - 4 years of experience
Salary: Min=? Ave=? Max=?
--------------------------------------------

1 IT Junior / employee
eg. University interns, < 3 years of experience
Salary: Min=? Ave=? Max=?
--------------------------------------------

k_and_e 14.08.2019 22:34

Re: Salary bands for IT at Banks
 
Quote:

Originally Posted by timpeterson (Post 3091420)
~180.000/y (720/day)

250 working days per year. you're doing something wrong in your calculation.

timpeterson 14.08.2019 23:34

Re: Salary bands for IT at Banks
 
Quote:

Originally Posted by k_and_e (Post 3091433)
250 working days per year. you're doing something wrong in your calculation.

Make it 850/day than. Just approximately.

arz 16.08.2019 12:14

Re: Salary bands for IT at Banks
 
CHF 720 pd sounds like a junior developer or L2 support. Senior IT consultants at engineer level easily get 850 and sometimes negotiate over 900. This would make up to 210 K per year, but only if you have no gaps between contracts.
If the gaps are short (3-4 months), you can survive on RAV coverage, but year income drops of course.
For a permie in the big banks, you'll be offered CHF 130k pa in best case.
Besides, keep in mind that going from a senior contractor to permie is easy, but going back to contracting or getting another permie job after 4-5 year in one environment only will be nearly impossible.
I personally think that contracting in IT provides a lot more job security than a perm job, and anyone telling you the opposite is, hmmm, not quite informed.

Cherub 16.08.2019 19:42

Re: Salary bands for IT at Banks
 
OH went from being senior contractor to permanent at the beginning of last year. Salary for his level is about 150k plus any other benefits he gets.

He's 59, when he gets to UK retirement age and we move back to Scotland he plans to keep working as a Consultant, and he'll do voluntary mentoring of young guys new to the industry (he was already involved in this before we moved to Switzerland).

He keeps up with new developments in his industry via training he does in his own time and he attends training conferences, which he pays for but his employer allows paid leave for.

2 years ago he had an offer from a Software Development co in Zurich, they were only prepared to go to 90k which was too low for his level of expertise so he turned it down.

kerneltrick 18.08.2019 17:52

Re: Salary bands for IT at Banks
 
What kind of skills do these 200k+ contracts need and where do you find them?


Also are you banned from trading on own account if working for a bank on a contract? I heard FTEs at banks are banned

Cherub 18.08.2019 18:17

Re: Salary bands for IT at Banks
 
"I personally think that contracting in IT provides a lot more job security than a perm job, and anyone telling you the opposite is, hmmm, not quite informed".

Not sure I entirely agree with that statement tbh. When my OH was a contractor with his now permanent employer the company was known for only offering IT people contracts for 6 months at a time via the agencies they were with (and sometimes only 3 months). They also used to only give people about 2 weeks notice that their contracts weren't being renewed. He just got to the stage where he said to his boss he wasn't interested in signing up to another contract and this made them offer him an interview for a permanent role as his skill level is crucial to the team he's in (in some areas he's more advanced and experienced than the others in terms of troubleshooting and keeping the project on track).

He was also offered a permanent job because he argued I'd given up my job/interests in Scotland to move here so I could be with him.

arz 19.08.2019 10:57

Re: Salary bands for IT at Banks
 
Quote:

Originally Posted by Cherub (Post 3092401)
(and sometimes only 3 months). They also used to only give people about 2 weeks notice that their contracts weren't being renewed

That's more like an exception. 90% of IT contracts I worked on in the past 20 years in CH, were initially 6 months, with high chance of extension (as stated in job description). Мost of my initially 6 month contracts have been extended at least once, many 3 to 7 times (in 6 months chunks every time).
Notice period was always 1 month, but line managers are usually keen enough to tell way before that they are unsure about next extension.
That's kind of rules of game here. Just don't go for agencies/end clients who break them.

WilliamTell 20.08.2019 09:33

Re: Salary bands for IT at Banks
 
The rate to agencies for IT contractors is from CHF 700.00 to CHF 1200.00 per day.
The agency will take from 15% to 20%.
Most IT contractors are experienced professionals, not junior developers (that work is outsourced to India or Eastern Europe).

timpeterson 26.01.2020 00:11

Re: Salary bands for IT at Banks
 
Thank for the great inputs. Any updates to the higher level salary bands? I'm still curious what 20-30 year experienced program director can make. Maybe managing 100 people 30% outsourced. Not sure if i should aim for that or just starting own company. Thanks


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