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Old 08.08.2021, 20:28
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Re: Salary comparison UK to Switzerland

Bankers caused the crash of 2008. They did not foot the bill. Accountability is in short supply.
How can one justify salaries in the finance sector other than it is what the market will pay?
The numbers being bandied around in this thread must be poisonous to the vast majority of people who work hard and can only dream of such monetary wealth -thank goodness Switzerland is more egalitarian than the UK.

The gini coefficient is the best way of measuring how advanced a society is.
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Old 08.08.2021, 21:38
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Re: Salary comparison UK to Switzerland

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The big issue here is services. Many people talk about the high salaries in Switzerland but, in reality, salaries are flat. What I mean by this is that people at the bottom of society are over paid (relative to the value they create) and people at the top are underpaid. So someone stacking shelves in a supermarket in Switzerland makes CHF 3.5k/month whereas the same role at Tesco in the UK pays around 800-1k/month. A banker in London might make 600k-700k whereas his counterpart in Zurich might make CHF 250-300k.
Sounds as if you're bitter that you don't get to underpay other people for their time.

Tough luck. Very very tough.
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I can assure you that the ones making many multiples of 500k do create value as their bonus's are based on their performances.
Profit for the people who employ them isn't the same as value created. If they save their employer 1'000'000 in taxes that's obviously a massive gain for them, but that gain comes at the public's cost. For society this is a zero-sum game. No value got produced, it's just a transfer (or lack thereof, if for instance taxes were avoided).

Very much the same applies to most of the financial sector's forms of trading. Most always there's a counterparty where one side's gain balances the other side's loss or forsaken gain.
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  #43  
Old 08.08.2021, 21:48
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Re: Salary comparison UK to Switzerland

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Profit for the people who employ them isn't value. If they save their employer 1'000'000 in taxes that's obviously a massive gain for them, but that gain comes at the public's cost. For society this is a zero-sum game. No value got produced, it's just a transfer (or lack thereof, if for instance taxes were avoided).

Very much the same applies to most of the financial sector's forms of trading.
If they make 50,000,000 profit for the Bank, the bank pays them 5,000,000, the employee pays roughly 2,250,000 in income tax & the company pays 8,550,000 Corporation tax. Any dividends paid out will likely have further taxation on shareholders depending on their individual situation. National insurance is also paid by the employer & employee

Thats a total 10,800,000 the government gets in tax, which is a MASSIVE benefit to the public.

I don't understand how the company could save any tax, could you explain?
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