Switzerland remains the top global work location for expats. And high salaries aren’t the only reason for the country’s popularity amongst financial professionals.

The alpine country again comes out tops, ahead of the U.S., Hong Kong, China and Singapore on the list of destinations with the biggest pay packages. HSBC’s latest Expat Explorer survey shows foreigners moving to Switzerland gain from an average salary increase of $61,000. This pushes the average annual expat salary to $202,865, the highest in the world.

HSBC Expat Survey Switzerland 500

The U.S. slots into second place with an annual average pay packet of $185,119, while those relocating to Australia can expect to earn $125,803, the 10th most popular destination on the HSBC list.

Quality of Life

Earnings aren’t the only attractions offered by Switzerland, with career progression and a better quality of life also high on the list of preferences, it showed.

Jean-François Bunlon, market head for HSBC private banking clients resident in Switzerland, said that aside from financial and professional reasons, foreigners also value the quality of life and stability of the Swiss system. “Many clients rate Switzerland as one of the best – if not the best – location to take up residence globally.”