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-   -   Salary comparison UK to Switzerland (https://www.englishforum.ch/employment/305277-salary-comparison-uk-switzerland.html)

Hoggr 05.08.2021 21:06

Salary comparison UK to Switzerland
 
I'm looking at an executive role in Switzerland and have been asked what my salary expectations are. A permanent relocation to Switzerland would be required as this is not an expat role. Currently I'm on a basic salary in the UK of £145k per annum with executive benefits like share options, private medical insurance, bonus, car allowance and pension contributions. What should I be asking for in Switzerland? I've done some research and am thinking around 300k is that about right?

fatmanfilms 05.08.2021 21:10

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by Hoggr (Post 3335016)
I'm looking at an executive role in Switzerland and have been asked what my salary expectations are. A permanent relocation to Switzerland would be required as this is not an expat role. Currently I'm on a basic salary in the UK of £145k per annum with executive benefits like share options, private medical insurance, bonus, car allowance and pension contributions. What should I be asking for in Switzerland? I've done some research and am thinking around 300k is that about right?

It's about right, but top level salaries are lower in CH, so I doubt you will get it.
A check out girl earns over 50k here probably 3 times the UK salary.

eairicbloodaxe 05.08.2021 21:33

Re: Salary comparison UK to Switzerland
 
Although... assuming you are UK with a UK passport, then the company has to first prove they cannot hire a) a Swiss or b) an EU person who can do your role, in order to get you a B permit.

On that basis, you could argue you are quite specialised... and possibly can demand the top end of the range for that role.

This may or may not affect the relevant company's desire to go to bat for you with the Migrationsamt, of course... just sayin'.


Kind regards




Ian

LincolnAbrahams 06.08.2021 16:39

Re: Salary comparison UK to Switzerland
 
You are going to be in for a huge surprise ! I know someone on 135K GBP base plus 10% bonus and the usual 4% pension contribution in London who was offerred ....175K CHF as a base in a big swiss bank!

The argument was that the take home pay would be equal because taxes in switzerland far lower and they could find others from germany etc who would gladly accept - This was for a niche role in fact and managerial level but it made me wonder how a 135K GBP (which is good in london) translates to an ordinary salary in zurich!

Finally prices in zurich for most things are reasonable and similar to london - Food / rent are very similar maybe a little more.

NotAllThere 06.08.2021 17:13

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by Hoggr (Post 3335016)
I'm looking at an executive role in Switzerland and have been asked what my salary expectations are. A permanent relocation to Switzerland would be required as this is not an expat role. Currently I'm on a basic salary in the UK of £145k per annum with executive benefits like share options, private medical insurance, bonus, car allowance and pension contributions. What should I be asking for in Switzerland? I've done some research and am thinking around 300k is that about right?

Depends on the company and the sector very much. And what you mean by executive. I'm puzzled your asking. The starting point of your negotiation is going to be what your current package is worth - hasn't someone as senior as you learned some negotiation skills.?

300,000CHF = £235,000.

komsomolez 06.08.2021 17:23

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by LincolnAbrahams (Post 3335321)
You are going to be in for a huge surprise ! I know someone on 135K GBP base plus 10% bonus and the usual 4% pension contribution in London who was offerred ....175K CHF as a base in a big swiss bank!

The argument was that the take home pay would be equal because taxes in switzerland far lower and they could find others from germany etc who would gladly accept - This was for a niche role in fact and managerial level but it made me wonder how a 135K GBP (which is good in london) translates to an ordinary salary in zurich!

Finally prices in zurich for most things are reasonable and similar to london - Food / rent are very similar maybe a little more.

So 175k base is an ordinary salary in Zurich?

schoggiweggli 06.08.2021 17:28

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by komsomolez (Post 3335334)
So 175k base is an ordinary salary in Zurich?

I guess very ordinary for an executive role, and p1ss poor if the OP has a basic of £145k in UK

komsomolez 06.08.2021 17:30

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by schoggiweggli (Post 3335335)
I guess very ordinary for an executive role, and p1ss poor if the OP has a basic of £145k in UK

True, I see a lot of ordinary executives in our shop.

eyebeebe 06.08.2021 17:45

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by schoggiweggli (Post 3335335)
I guess very ordinary for an executive role, and p1ss poor if the OP has a basic of £145k in UK

Not necessarily. I just did a calculation for my compensation and for the same take home pay you’d have to increase the number when going from CHF to GBP. I realise that’s partly driven by living in a lower tax canton. Comparing like for like accommodation (generally people’s largest expense), I reckon I spend less too.

HickvonFrick 06.08.2021 17:55

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by Hoggr (Post 3335016)
I'm looking at an executive role in Switzerland and have been asked what my salary expectations are. A permanent relocation to Switzerland would be required as this is not an expat role. Currently I'm on a basic salary in the UK of £145k per annum with executive benefits like share options, private medical insurance, bonus, car allowance and pension contributions. What should I be asking for in Switzerland? I've done some research and am thinking around 300k is that about right?

I got just under twice my GBP salary in CHF, as did my wife - so I'd say perhaps more like 260-280K than 300K - but it depends on your industry. 300K is probably the figure to push for.

HickvonFrick 06.08.2021 17:56

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by LincolnAbrahams (Post 3335321)
You are going to be in for a huge surprise ! I know someone on 135K GBP base plus 10% bonus and the usual 4% pension contribution in London who was offerred ....175K CHF as a base in a big swiss bank!

The argument was that the take home pay would be equal because taxes in switzerland far lower and they could find others from germany etc who would gladly accept - This was for a niche role in fact and managerial level but it made me wonder how a 135K GBP (which is good in london) translates to an ordinary salary in zurich!

Finally prices in zurich for most things are reasonable and similar to london - Food / rent are very similar maybe a little more.

I'd politely disagree.

Food is at least double...

I'm paying slightly more for a two bedroom flat in the middle of rural Aargau than I paid for a 4 bed semi detached house in London. (ok admittedly the 4 bedroom house was in Orpington... but still)

That said, at high salary levels tax is more important than the cost of everyday living

fatmanfilms 06.08.2021 18:10

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by HickvonFrick (Post 3335343)
I'm paying slightly more for a two bedroom flat in the middle of rural Aargau than I paid for a 4 bed semi detached house in London. (ok admittedly the 4 bedroom house was in Orpington... but still)

Orpington was is in Kent last time I went there, a long way from what I would call London. (Highgate was Middlesex rather than London when I first lived there, urban sprawl has gone a long way since)

HickvonFrick 06.08.2021 18:14

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by fatmanfilms (Post 3335349)
Orpington was is in Kent last time I went there, a long way from what I would call London. (Highgate was Middlesex rather than London when I first lived there, urban sprawl has gone a long way since)

Technically it is in the London Borough of Bromley!

komsomolez 06.08.2021 18:22

Re: Salary comparison UK to Switzerland
 
There is also a huge difference between executive pay in a small or medium sized company and larger corporations. The info provided here is very thin, understandably in a small market segment.

At 300k levels it looks weird to me to argue with cost of living or simply convert a salary from one country to the other. At that level one should know what market rates are for a given position. We have some VP positions where total comp is probably 300-350, and this is not yet executive level. This is a large listed company. I also have an acquaintance who is on the executive committe of a listed Swiss company with 800m revenue who has around 450k base.

NotAllThere 06.08.2021 18:25

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by HickvonFrick (Post 3335343)
I'd politely disagree.

Food is at least double...

Only if you ate poor quality food in your home country. I refused to do roast pork in the UK. Then I came here and found out if has a taste! Worth every penny (when we pick up 4kg of 50% action at half price and shove it in the freezer).

eyebeebe 06.08.2021 19:29

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by HickvonFrick (Post 3335343)
I'd politely disagree.

Food is at least double...

I'm paying slightly more for a two bedroom flat in the middle of rural Aargau than I paid for a 4 bed semi detached house in London. (ok admittedly the 4 bedroom house was in Orpington... but still)

That said, at high salary levels tax is more important than the cost of everyday living

I looked at Twickenham (Middlesex FMF) where I last lived in London and I‘d far rather live in what we bought here than what the same amount of money would buy there and the mortgage rates are lower too.

eyebeebe 06.08.2021 19:33

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by HickvonFrick (Post 3335341)
I got just under twice my GBP salary in CHF, as did my wife - so I'd say perhaps more like 260-280K than 300K - but it depends on your industry. 300K is probably the figure to push for.

I got more than twice my salary and my first bonus was over 3x in London. That works at the more Junior end of the scale for professionals, but pay generally rises much faster and goes higher in London as you get more senior, certainly in banking. As you say though, if you are savvy, the income tax differential starts making a big difference, not to mention no capital gains tax etc

HickvonFrick 06.08.2021 19:38

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by eyebeebe (Post 3335384)
I got more than twice my salary and my first bonus was over 3x in London. That works at the more Junior end of the scale for professionals, but pay generally rises much faster and goes higher in London as you get more senior, certainly in banking. As you say though, if you are savvy, the income tax differential starts making a big difference, not to mention no capital gains tax etc

Yes but you came ages ago judging by your join date when the exchange rate was very different.

eyebeebe 06.08.2021 19:57

Re: Salary comparison UK to Switzerland
 
Quote:

Originally Posted by HickvonFrick (Post 3335385)
Yes but you came ages ago judging by your join date when the exchange rate was very different.

The FX rate has moved, but the salaries for those roles haven’t moved materially. Maybe 10% higher in London and flat to slightly down in Switzerland. So it would still be nearly a doubling, but you would feel much richer moving now than I did.

marton 06.08.2021 21:03

Re: Salary comparison UK to Switzerland
 
Basically for the same lifestyle you need to double your UK salary, if it is a promotion then more.
At those levels the Swiss tax is not much lower than UK taking account of health insurance which is really a UK tax
Over half million then Swiss rates are lower.


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