UK to Switzerland - anyone done it?

[konsultant]

Hi,
I have been offered a permanent role in Zurich with an investment bank with a salary of 125K CHF.

I have around 15 years experience and been on rates of £500pd

For my current UK rate is this a fair, better or worse salary for Zurich? Can anyone who made the move from UK to Switzerland advise?


Also, how is this level of salary considered - poor, average, excellent?

Looking forward to some advise especially from anyone who has worked both in UK and Switzerland.


Regards

[BlasterBates]

This gives you about CHF 8000 net

A rented flat will be CHF 2500 + 3500 60-80 SqM and you need medical insurance, a few hundred CHF.

check out flats on https://www.homegate.ch/

Most goods are expensive especially supermarkets, electrical goods and petrol are reasonably priced.

You won't be wealthy.

[BlasterBates]

If you are an investor then you can take advantage of no capital gains tax. That is worth a lot, and if you are a shrewd investor with some capital to throw around, it's worth just going to Switzerland for that. The salary becomes "pocket money".

[BlasterBates]

A salary calculator:

Salary calculator for commuters & residents Switzerland

[LondonPM1]

Hi,
I have been offered a permanent role in Zurich with an investment bank with a salary of 125K CHF.

I have around 15 years experience and been on rates of £500pd

For my current UK rate is this a fair, better or worse salary for Zurich? Can anyone who made the move from UK to Switzerland advise?


Also, how is this level of salary considered - poor, average, excellent?

Looking forward to some advise especially from anyone who has worked both in UK and Switzerland.


Regards

Speaking from experience this salary is poor - This is AVP money in Zurich - Everything in Zurich cost twice what you think. If you have 15 years experience you should be VP and aim for 150CHF and no i am not joking

Did you get this through an agency or direct? Is it one of the big ones like UBS . CS Julius Baer?

PM if you want - I am in Zurich at the moment.

[NotAllThere]

If you are an investor then you can take advantage of no capital gains tax. That is worth a lot, and if you are a shrewd investor with some capital to throw around, it's worth just going to Switzerland for that. The salary becomes "pocket money".

If you make most of your money through trading, you may well be adjudged a professional trader, and your profits are taxed as income and the NI equivalent payable. See here: Short term capital gains taxes in switzerland - English Forum Switzerland

125'000 CHF is poor. For Zürich and for banking. Unless you're being hired as mid-level professional - i.e. not junior, not senior. What's the job title level (head of... junior... senior... specialist...)?. My son has 4 years experience and gets paid only a little less than that in a local Basel company.

The skiing is better here, and even in Zürich (IMO) the quality of life is pretty good.

[konsultant]

Thank you all of you for your response.

Some really useful pointers and advise

LondonPM1, I will PM you and thanks for offering to help.

[BlasterBates]

If you make most of your money through trading, you may well be adjudged a professional trader, and your profits are taxed as income and the NI equivalent payable. See here: Short term capital gains taxes in switzerland - English Forum Switzerland

125'000 CHF is poor. For Zürich and for banking. Unless you're being hired as mid-level professional - i.e. not junior, not senior. What's the job title level (head of... junior... senior... specialist...)?. My son has 4 years experience and gets paid only a little less than that in a local Basel company.

The skiing is better here, and even in Zürich (IMO) the quality of life is pretty good.

Very unlikely you'll pay tax on capital gains as long as you hold for at least 6 months.

[madhippy]

Thank you all of you for your response.

Some really useful pointers and advise

LondonPM1, I will PM you and thanks for offering to help.

Just got back from several years in Zurich, other responses seem to be about right on the salary front.

Also factor in finding a flat is really hard - you may need a business rental or airbnb for a while (I was paying 3500/month at one point)

pm if any additional questions

[Katalyst]

I've done it. 125K is about a low-average salary. Yes, rents are high and eating out is very expensive. But daily living isn't any worse than London. Groceries are not that expensive and public transport is both excellent and relatively cheap. The quality of life there is outstanding, and Zurich is absolutely beautiful. I'd go back in a heartbeat. My advice is just to take the job. Once you've been there for 6 months or so, you'll get other offers.