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Old 25.09.2020, 14:45
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Re: What To expect From The RAV

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Many thanks - What is the correct way to plan for being sick on the RAV ?
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Old 26.09.2020, 11:42
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Re: What To expect From The RAV

Based on the OP's comp (180k + bonus) I'm going to guess that he is an early 40's VP/Director. The chances of finding another job at the same level, as a foreigner, are tough and given the shrinking nature of finance in Switzerland my guess is that this will be the end of the road for him here. Quite understandable that he may want to work out how best to maximize what he can take out of the system.....we bankers have been doing that since Jesus banned the money changers from the temple of Jerusalem 2000 years ago haha.

The reality is that you can't afford to be out of the markets for 1 year or 18 months in this industry. So, while 18 months of RAV payments is nice, you really need to start applying for jobs back in London and be prepared to jump. I would give myself 6 months to find a job in Zurich and if I've had no bites in that period I would focus on returning to the UK for work. I don't see any value in sitting here on the RAV for 18 months and then ending up unemployable in the UK.
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Old 26.09.2020, 14:21
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Re: What To expect From The RAV

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Based on the OP's comp (180k + bonus) I'm going to guess that he is an early 40's VP/Director. The chances of finding another job at the same level, as a foreigner, are tough and given the shrinking nature of finance in Switzerland my guess is that this will be the end of the road for him here. Quite understandable that he may want to work out how best to maximize what he can take out of the system.....we bankers have been doing that since Jesus banned the money changers from the temple of Jerusalem 2000 years ago haha.

The reality is that you can't afford to be out of the markets for 1 year or 18 months in this industry. So, while 18 months of RAV payments is nice, you really need to start applying for jobs back in London and be prepared to jump. I would give myself 6 months to find a job in Zurich and if I've had no bites in that period I would focus on returning to the UK for work. I don't see any value in sitting here on the RAV for 18 months and then ending up unemployable in the UK.
I am exactly early forts and director and everything you have said is spot on. I do not see finding another job here possible in fx structured derivs. I’m hoping to find something in London but brexit is killing it. I imagine I will be fired in jan just after bonus day. I will have three months notice and then hope for 6-9 months on the rav to wrap up and be back in the Uk by Dec 21.

If I cannot claim the rav or they mess me about I will be in trouble. I have a massive mortgage in the Uk and my rent is 4500 a month in Zurich and frankly I have no savings at all. I m counting on a 300 k pillar 2 pension to actually reduce my Uk mortgage which is interest free and remains empty. I ve been able to just about manage to pay the Uk mortgage but I am a little behind

I do not want to find another job in Zurich and I simply want a 6 month window to sort out my next career move.

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  #64  
Old 26.09.2020, 14:43
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Re: What To expect From The RAV

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I am exactly early forts and director and everything you have said is spot on. I do not see finding another job here possible in fx structured derivs. Iím hoping to find something in London but brexit is killing it. I imagine I will be fired in jan just after bonus day. I will have three months notice and then hope for 6-9 months on the rav to wrap up and be back in the Uk by Dec 21.

If I cannot claim the rav or they mess me about I will be in trouble. I have a massive mortgage in the Uk and my rent is 4500 a month in Zurich and frankly I have no savings at all. I m counting on a 300 k pillar 2 pension to actually reduce my Uk mortgage which is interest free and remains empty. I ve been able to just about manage to pay the Uk mortgage but I am a little behind

I do not want to find another job in Zurich and I simply want a 6 month window to sort out my next career move.
Can you live on less than 2k a month? Because you still pay taxes, health insurance and have the regular deductions from your RAV payments. And with your rent that is tight......
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Old 26.09.2020, 15:06
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Re: What To expect From The RAV

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Can you live on less than 2k a month? Because you still pay taxes, health insurance and have the regular deductions from your RAV payments. And with your rent that is tight......
I will have to try. Drive less eat less meat and use the credit card a bit more. Thatís manegable for a while. The proble is if the rav does not come through I wonít be able to pay rent and will fall into a debt spiral. Thatís what I am trying to avoid
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Old 26.09.2020, 15:07
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Re: What To expect From The RAV

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I will have to try. Drive less eat less meat and use the credit card a bit more. Thatís manegable for a while. The proble is if the rav does not come through I wonít be able to pay rent and will fall into a debt spiral. Thatís what I am trying to avoid
Then start saving now. You have a good chance you will have waiting days anyway....
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  #67  
Old 26.09.2020, 15:12
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Re: What To expect From The RAV

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Then start saving now. You have a good chance you will have waiting days anyway....
I normally budget for my salary to be spent and the bonus to be my savings. My last bonus was 40% of my comp and that was used to pay down my Uk mortgage. This year my mortgage in jan will be the savings that I have. Iím expecting the bonus to be less maybe 25% or 40k which will be something to keep my head above water

My question still remains however. Can I truly count on the rav to be the stopgap for 18 months if my circumstances donít improve
  #68  
Old 26.09.2020, 18:23
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Re: What To expect From The RAV

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My question still remains however. Can I truly count on the rav to be the stopgap for 18 months if my circumstances donít improve
Probably, if you play strictly by the rules. It would be a grave mistake to underestimate these people. All three of the advisors I had in the past had years of commercial recruiting experience under their belt and had a very good feel for market conditions. If they feel there is little possibility of you finding a job in your area within say 6 months or so, you can expect that they will require you to make a serious effort to find alternative employment.
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Old 26.09.2020, 18:49
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Re: What To expect From The RAV

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Probably, if you play strictly by the rules. It would be a grave mistake to underestimate these people. All three of the advisors I had in the past had years of commercial recruiting experience under their belt and had a very good feel for market conditions. If they feel there is little possibility of you finding a job in your area within say 6 months or so, you can expect that they will require you to make a serious effort to find alternative employment.
So are you saying the people at the Rav are not your usual clerical admin paper pushers but actually highly experienced career advisors with their fingers on the pulse?

If that was the case then surely any attempt to slack off a bit will get picked up by them - I thought they were simply admin people checking forms and stamping papers
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Old 26.09.2020, 20:24
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Re: What To expect From The RAV

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Your words make me cringe.

How long have you been here?
You should realize that people are educated here. The RAV advisor will most probably speak several languages. Also, they almost always are former professionals of the sector they are specialized in at the RAV.
Your RAV advisor will not be a clerk, he/she will be an educated professional in your line of work.

If you are concerned about surviving financially (you’re kidding right?) then give up your 4500 CHF flat now and find a studio.

Perhaps instead of relying on the RAV without wanting to find work, you could reconsider and recalculate your budget in preparation of the upcoming possible change of circumstances?
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Old 26.09.2020, 20:53
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Re: What To expect From The RAV

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So are you saying the people at the Rav are not your usual clerical admin paper pushers but actually highly experienced career advisors with their fingers on the pulse?

If that was the case then surely any attempt to slack off a bit will get picked up by them - I thought they were simply admin people checking forms and stamping papers
I just told you my experience take is you will... you're the one that needs the cash....
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Old 26.09.2020, 20:56
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Re: What To expect From The RAV

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London PM
Your words make me cringe.

How long have you been here?
You should realize that people are educated here. The RAV advisor will most probably speak several languages. Also, they almost always are former professionals of the sector they are specialized in at the RAV.
Your RAV advisor will not be a clerk, he/she will be an educated professional in your line of work.
I have had some pretty low life ones, the first who was clearly unfit, had 3 Mars bars on her desk plus sandwiches & cheese. She said she would have me chucked out of the country in 6 months if I did not have a job & I could not do short term contracts without her permission! (Permit C holder for 7 years at the time). I complained & she became an administrator a month later, 3 months after that she was no longer working for the RAV, no doubt a customer

A couple were ex HR, 2 ex Swiss Air Cabin crew, it varies a lot.

I suspect the advisor won't have a clue about banking, if you were a builder or kitchen staff they could help.
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Old 26.09.2020, 21:31
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Re: What To expect From The RAV

RAV advisors in cities like Geneva and Zurich and outskirts are well versed in regards to the Banking sector.
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Old 26.09.2020, 21:38
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Re: What To expect From The RAV

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RAV advisors in cities like Geneva and Zurich and outskirts are well versed in regards to the Banking sector.
I am surprised to hear you say this, on a CV writing course I had an English speaking only German citizen born in New York, he was a member of MENSA Zurich & ex senior Banker from Julius Bear. He said his advisors did not have a clue.

Early on mine tendered to be bluffers, even the supervisors who showed me the law in German, from a big book. I used a highlighter pen to show the exceptions that applied in my case. They assumed I had not read the book & did not understand German
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Old 26.09.2020, 21:39
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Re: What To expect From The RAV

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Based on the OP's comp (180k + bonus) I'm going to guess that he is an early 40's VP/Director. The chances of finding another job at the same level, as a foreigner, are tough and given the shrinking nature of finance in Switzerland my guess is that this will be the end of the road for him here. Quite understandable that he may want to work out how best to maximize what he can take out of the system.....we bankers have been doing that since Jesus banned the money changers from the temple of Jerusalem 2000 years ago haha.

The reality is that you can't afford to be out of the markets for 1 year or 18 months in this industry. So, while 18 months of RAV payments is nice, you really need to start applying for jobs back in London and be prepared to jump. I would give myself 6 months to find a job in Zurich and if I've had no bites in that period I would focus on returning to the UK for work. I don't see any value in sitting here on the RAV for 18 months and then ending up unemployable in the UK.
I did not read everything but i agree with it. I am employed until end of this month but also same: Good position in UBS and the market is not great.

I will move to Porto (my hometown) and start in Santander.

I am quality manager and most of interviews this year are funny (in Switzerland) . Asking you for management positions and in the end they need a junior person.
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Old 26.09.2020, 21:40
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Re: What To expect From The RAV

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I am exactly early forts and director and everything you have said is spot on. I do not see finding another job here possible in fx structured derivs. Iím hoping to find something in London but brexit is killing it. I imagine I will be fired in jan just after bonus day. I will have three months notice and then hope for 6-9 months on the rav to wrap up and be back in the Uk by Dec 21.

If I cannot claim the rav or they mess me about I will be in trouble. I have a massive mortgage in the Uk and my rent is 4500 a month in Zurich and frankly I have no savings at all. I m counting on a 300 k pillar 2 pension to actually reduce my Uk mortgage which is interest free and remains empty. I ve been able to just about manage to pay the Uk mortgage but I am a little behind

I do not want to find another job in Zurich and I simply want a 6 month window to sort out my next career move.
You can easily change to a service apartment (around 2000 chf/month) or slowly changing the place you live. Why pay 4500 chf/month?
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Old 26.09.2020, 21:53
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Re: What To expect From The RAV

Seems hugely excessive. 2.5 times what I pay and I earn only a bit less.

Why are you so sure you'll be fired?
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Old 26.09.2020, 21:54
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Re: What To expect From The RAV

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Seems hugely excessive. 2.5 times what I pay and I earn only a bit less.

Why are you so sure you'll be fired?
Clearly crap at his job, at leat he realises this which is a huge plus https://www.youtube.com/watch?v=wvVPdyYeaQU
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Old 28.09.2020, 11:40
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Re: What To expect From The RAV

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Seems hugely excessive. 2.5 times what I pay and I earn only a bit less.

Why are you so sure you'll be fired?
My job has basically been automated - FX trading and they are moving the desk to run out of NY - The pnl numbers this year have been dreadful - The cut will happen and I expect t just after bonus day
  #80  
Old 28.09.2020, 12:03
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Re: What To expect From The RAV

Some are paperpushers with muscles on the fingers where they hold the rubber stamp, some are not.
The one I have at the (German) agency for employment (fancy name for Arbeitsamt) is a box ticker and wanted to send me on a German course as I am British.
Despite having the conversation in German and my grasp of the language being better than hers.
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