Swiss wages remain in first place in Europe
In a European comparison, both entry-level and middle managers in Switzerland receive the highest salaries. This is the finding of the Global 50 Remuneration Planning Report 2016 by Willis Towers Watson. Even after taxes and high cost of living are taken into account, Swiss employees maintain their top position. The median salary is around 50% higher than in the respective second-placed countries.
Swiss wages are at the top, as shown by the "Global 50 Remuneration Planning Report" by Willis Towers Watson". A middle manager in Switzerland earns a median salary of CHF 164,097 per year, while this figure is CHF 89,540 for an entry-level employee. This makes Switzerland the country with the highest salaries within the ranking determined by Willis Towers Watson.
Employees in Switzerland receive a median salary that is around 50% higher than that of the second-placed countries in the respective category: In terms of managerial salaries, Luxembourg ranks second with a value equivalent to CHF 110,388; in terms of salaries for entry-level employees, Denmark is the second-placed country with CHF 59,569.
Smaller differences when cost of living is taken into account
Even if these figures are considered on the basis of purchasing power parity, for which taxes and cost of living are taken into account, middle managers in Switzerland can maintain their top position in Europe with an adjusted annual salary of CHF 97,207. According to this calculation basis, Luxembourg is in second place, followed by Germany in third place, with Ireland and the UK in the subsequent ranks.
The picture is similar for those entering the workforce: here too, the Swiss continue to occupy the top spot with CHF 58,666, ahead of Denmark and Germany, with Belgium and Ireland following in 4th and 5th place.
The conclusion of these calculations: Even though wages are markedly lower overall after taking into account taxes and the cost of living, employees in Switzerland have the greatest purchasing power in all of Europe.
The full version of the most recent edition of the report (2016) is here available.
