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-   -   Salary Equivalents (https://www.englishforum.ch/finance-banking-taxation/299360-salary-equivalents.html)

jacek 29.07.2020 11:06

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202301)
Thanks - what do you think a more realistic multiplier would be for a northern UK salary to a Basel one might be?

Sure. The good mathematical salary multipliers UK to CH are:

PI = 3.1415
sqrt(2) = 1.41
sqrt(3) = 1.73

From the above, the PI is my favourite one though because it gives me a better exchange rate :D

Inselaeffli 29.07.2020 11:08

Re: Salary Equivalents
 
Itís very hard to compare. But if I were offered CHF200k/£165k and choice of staying here or moving back to London, I would stay here, and I still think Iíd be better off.

Why?

- lower income tax. And more you can claim against tax. And no council tax.
- kids go to local public school here; in UK I used to pay for private.
- Kanton provides excellent, cheap after-school childcare, although not everyone gets it.
- cheaper commute
- long term chf likely to continue to appreciate versus gbp
- can draw UK pension here at lower tax and without life-time allowance nonsense

Yes groceries, restaurants, professional services are very expensive, but they are a small proportion of overall spend.

Set against that though in particular are high property prices. Rent is not much more expensive here than London, but in London I would not rent. I would buy. Here Iím either going to have to rent forever or stump up a truly vast sum for a relatively small apartment.

komsomolez 29.07.2020 11:11

Re: Salary Equivalents
 
@OP: You made an effort of not asking the often barked at "Is 28 CHF a good salary". Good on you. You tried to please to crowd. Seeing the repsonses so far (and I have no view on UK salaries at all), you might as well go back and ask straight up for comparing your UK to potential CH salary incl. info on job.

CodPeace 29.07.2020 11:15

Re: Salary Equivalents
 
The $1m question (or chf915,660) question is is it Pharma?
Pharma pays more, like for like, than other companies here.
Also however the salaries are banded to responsibilites/functions, and you really need to be exceptional to get more than 10% (if that) above their initial offer.
That's my tuppence (3 rappens) worth.

Inselaeffli 29.07.2020 11:24

Re: Salary Equivalents
 
Basically it’s swings and roundabouts apart from rent/property prices, which are probably 3x/5x what they are in north of England for equivalent sqm and desirability.

dtaylor 29.07.2020 12:12

Re: Salary Equivalents
 
Quote:

Originally Posted by komsomolez (Post 3202333)
@OP: You made an effort of not asking the often barked at "Is 28 CHF a good salary". Good on you. You tried to please to crowd. Seeing the repsonses so far (and I have no view on UK salaries at all), you might as well go back and ask straight up for comparing your UK to potential CH salary incl. info on job.

Thanks I've tried my best to keep away from the "is that a good salary" type tread, though as you say there seems like a hunger for this type of discussion:)

What I'm trying to establish is knowing my current salary in the UK and the lifestyle I'm able to live on that, what type of salary would I need in Basel to replicate this lifestyle. The guidance on multipliers have been really helpful as this gives me some kind of gauge on whether the offer for the Basel role comes close to this or not.

dtaylor 29.07.2020 12:17

Re: Salary Equivalents
 
Quote:

Originally Posted by dbucar (Post 3202314)
I think a better starting point for you is to find out the living costs, approximate your taxation rate, and see how much are you left out with "take home" pay for your expected standard of living / savings / luxury / etc.

Multipliers won't make much sense - especially as you are trying to tailor them to regions in the UK.

Thanks this is really helpful approach, I'll work this out later today!

One challenge though is having £?? left over in my salary in the UK is likely not to be the same as having a similar amount in CHF left over at the end of the month in Basel - so not sure how to assess a like for like comparison?

fatmanfilms 29.07.2020 12:25

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202367)
Thanks I've tried my best to keep away from the "is that a good salary" type tread, though as you say there seems like a hunger for this type of discussion:)

What I'm trying to establish is knowing my current salary in the UK and the lifestyle I'm able to live on that, what type of salary would I need in Basel to replicate this lifestyle. The guidance on multipliers have been really helpful as this gives me some kind of gauge on whether the offer for the Basel role comes close to this or not.

If you are looking for a detached house with a garden, possibly a swimming pool you will want a salary around 180k. If you are happy living in an 80m2 apartment then 90k would work.

bigblue2 29.07.2020 12:29

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202367)
Thanks I've tried my best to keep away from the "is that a good salary" type tread, though as you say there seems like a hunger for this type of discussion:)

What I'm trying to establish is knowing my current salary in the UK and the lifestyle I'm able to live on that, what type of salary would I need in Basel to replicate this lifestyle. The guidance on multipliers have been really helpful as this gives me some kind of gauge on whether the offer for the Basel role comes close to this or not.

its really not that simple, and with the lack of info people will just stop trying to help.

eg do you have kids, a partner, renting or looking to buy etc etc

no one can tell you what you need to maintain your lifestyle as no one knows what your lifestyle is!

as said before 35k up north is going to see you living quite nicely thankyou, 35k in london is going to see you living in a shared house or cheap studio apartment

you may as well be asking how long is a piece of string

dtaylor 29.07.2020 13:03

Re: Salary Equivalents
 
Quote:

Originally Posted by bigblue2 (Post 3202379)
its really not that simple, and with the lack of info people will just stop trying to help.

eg do you have kids, a partner, renting or looking to buy etc etc

no one can tell you what you need to maintain your lifestyle as no one knows what your lifestyle is!

as said before 35k up north is going to see you living quite nicely thankyou, 35k in london is going to see you living in a shared house or cheap studio apartment

you may as well be asking how long is a piece of string

To give some more info and perhaps a better way to ask the question would be: for a a married couple with two school age children (assuming local schooling not private / international) and one partner working what type of lifestyle would the following salaries in Basel support:


100chf =

125chf =

150chf =

175chf =

200chf =

Ato 29.07.2020 13:10

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202405)
To give some more info and perhaps a better way to ask the question would be: for a a married couple with two school age children (assuming local schooling not private / international) and one partner working what type of lifestyle would the following salaries in Basel support:

100chf = Doable, maybe a little tight depending on your spending habits.

125chf = Doable, maybe a little tight depending on your spending habits.

150chf = Easily doable, maybe a little tight depending on your spending habits.

175chf = Easily doable, maybe a little tight depending on your spending habits.

200chf = Easily doable, maybe a little tight depending on your spending habits.

fatmanfilms 29.07.2020 13:10

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202405)
To give some more info and perhaps a better way to ask the question would be: for a a married couple with two school age children (assuming local schooling not private / international) and one partner working what type of lifestyle would the following salaries in Basel support:


100chf =

125chf =

150chf =

175chf =

200chf =

Normal
Good
Better
Even better
The best

Live in Basel Land as tax is lower for higher earners.

Ato 29.07.2020 13:13

Re: Salary Equivalents
 
Lifestyle wise is such a wide range of things I don't even know where to start. Are you a petrolhead, do you eat out all the time, do you do regular classes/club activities, what cost level clothes do you wear?

Now there's 4 of you who put your lifestyle all over the place, and you'll be on the border to both France and Germany so it's about 5 rolls of a D6 multiplied by the year of birth of your first pet dived by the number of years it looked at the postman sideways.

jacek 29.07.2020 13:17

Re: Salary Equivalents
 
Quote:

Originally Posted by Ato (Post 3202412)
100chf = Doable, maybe a little tight depending on your spending habits.

125chf = Doable, maybe a little tight depending on your spending habits.

150chf = Easily doable, maybe a little tight depending on your spending habits.

175chf = Easily doable, maybe a little tight depending on your spending habits.

200chf = Easily doable, maybe a little tight depending on your spending habits.

X 1000 per annum

(otherwise it is more like a monthly children allowance)

Brian1985 29.07.2020 20:47

Re: Salary Equivalents
 
Landlords here generally wont allow you to spend more than 1/3rd of your income on rent so my advice would be to go on homegate and search for apartments you would like to live in and do the calculation. If you require a place that costs 3k/month, you need a monthly salary of CHF 9,090 (annually equates to CHF 109k). The best thing to do is build a monthly budget and work out what salary you would need to meet that. You need to cover rent, healthcare, transportation, food & groceries, mobile phone & internet and then add on entertainment/childcare/etc costs.

I personally wouldn't move here to be on an average salary (CHF 70K in Zurich) but that is really a lifestyle question.

komsomolez 29.07.2020 21:07

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202405)
To give some more info and perhaps a better way to ask the question would be: for a a married couple with two school age children (assuming local schooling not private / international) and one partner working what type of lifestyle would the following salaries in Basel support:


100chf =

125chf =

150chf =

175chf =

200chf =

Come on. You cannot tell us that you don't know where approximately in thar range your offer is going to be.

dtaylor 29.07.2020 23:03

Re: Salary Equivalents
 
After doing a bit of research this evening I came across this link on cost of living comparisons between countries

https://www.erieri.com/cost-of-livin...tzerland-basel

Any thoughts on how representative /realistic this is?

fatmanfilms 30.07.2020 08:36

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202577)
After doing a bit of research this evening I came across this link on cost of living comparisons between countries

https://www.erieri.com/cost-of-livin...tzerland-basel

Any thoughts on how representative /realistic this is?

It's not, thats what a check out person earns in a supermarket.

bigblue2 30.07.2020 08:45

Re: Salary Equivalents
 
Quote:

Originally Posted by dtaylor (Post 3202577)
After doing a bit of research this evening I came across this link on cost of living comparisons between countries

https://www.erieri.com/cost-of-livin...tzerland-basel

Any thoughts on how representative /realistic this is?

total crap, where in the uk is that?? really, you're just making yourself look foolish, 30k in some godforesaken crap town in north scotland would see you living like a king, in london it would see you couch surfing, get it??

switzerland is the same, 70k is one of the big cities would see your family having to watch every penny, 70k up in the mountains somewhere away from civilization would see you pretty comfortable.

fatmanfilms 30.07.2020 08:59

Re: Salary Equivalents
 
The OP is unaware that healthcare is not free expect to pay 8000 a year with a family of 4 with the adults having a 2500 franchise, that actually puts you on the hook for up to 15,200 of medical bills worst case scenario.


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