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Good private bankers are still much sought after in Switzerland. The same is true for investment specialists in the private market business. In digital banking and fintech – for instance, the chief digital officer in the c-suite – demand will also increase significantly.

Is the merry-go-round in private banking moving as quickly as ever?

Fluctuation from March to May – following the payout of bonuses – is as high as ever. There are fewer signing-on bonuses than before, but high salaries are still being offered.

«A psychological trap for experienced employees»

With the high number of relationship managers in Switzerland, the segment remains an important factor for pay in banking.

But it has become more difficult to take your clients along to a new employer?

At big banks, the client contact has been spread out across several specialists, which is a clever ploy to enhance the bond between client and bank. If there is a change, clients are being kept informed from a much earlier stage.

But if you reach the age of 50, you no longer are part of the merry-go-round in private banking.

Experienced employees of a bank frequently are faced with a psychological dilemma. They have still the memories of the golden age of Swiss private banking, keep strong books, had to acquire very little and re-training was no pressing issue. Now, they need to keep abreast of the changes in banking and to work more for less money. If you don't manage to keep up with the new mentality, you may end up dropping out of business altogether.

But there are for sure hard-working and open-minded bankers above 50?

Specialists, who are being released despite a good performance on cost grounds are also at risk because they then can't find a new job within their own narrow expertise. They are difficult to place.

And then there are women who complain about the problem to get a job after their baby years, about the inability to pursue a career and about the gender pay gap. Are they right to complain?

The pay gap is narrowing but still exists. Our clients often demand to have female candidates on the shortlist for jobs at the front. Some employers have been pushing part-time work to create a higher diversity among staff. But to make a career in banking with a less than 80 percent job remains difficult. The demands on the level of managing director are still very high – the type of job that pays about half a million francs.

Stephan Surber is a senior partner at Page Group. He first worked for Winterthur Insurance (which today is part of Axa), starting his career in 2000. After five years in asset management, he moved to Page, where he built the banking and financial services division for Switzerland. Today he is active in this line of work across the whole of Europe.