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3. UBS Retains «Competitive» Wage Policy

UBS is the second-best choice for bankers in Switzerland in terms of average wage. While 259,000 francs is slightly below the level reached in 2016, the bank clearly stuck to a policy of paying well for what it sees as the best talent, in Switzerland and across the world.

Investment bank staffers are particularly well paid at UBS, with more than half a million francs on average.

4. Julius Baer Turned the Trend

The other large Zurich-based private bank, Julius Baer, had been cutting back on wages in recent years. In 2017 however, this erosion was halted and the average wage increased by 26,000 to reach 247,000 francs.

The number of staff also rose by 220, which means that ex-CEO Boris Collardi stuck to his word and invested in organic growth.

5. Zuercher Kantonalbank: Costly Diversification

Zuercher Kantonalbank is one of Switzerland’s better diversified state banks. The company generates almost half of its revenues with the wealth management and investment banking business. The takeover of Swisscanto asset manager reduced its dependence on the interest-bearing business.

But the strategy also is a cost factor not to be neglected: the average wage in 2017 may have dropped from a year earlier – 197,000 vs 208,000 – but the difference to Raiffeisen is sharp.

6. Raiffeisen: Mutual Savings Modesty

Raiffeisen may not be undergoing a particularly pleasant phase with former CEO Pierin Vincenz in custody, but the wages speak a clear language:

The bank paid its staff 148,000 francs on average last year, unchanged from 2016. Not a lousy pay package by any means, but compared with staff at the other five companies, the 9,400 bankers at Raiffeisen receive markedly less for their services. This is likely due to its tradition of a mutual savings bank and its rural character with more than 900 branches across the country.