Average Salary in Switzerland in 2024

Author: Madalina Roman

13 September 2024

The average salary in Switzerland in 2022 was CHF 6788, the equivalent of an annual average salary of CHF 81,456, according to the Federal Statistical Office.

Wages in Switzerland remain among the most competitive in the world, although many factors influence them. In this article, you’ll learn how average salaries vary in Switzerland based on factors like the region, business sector, occupation, or gender so you can get a full picture.

Please note:

All data in this article are based on official statistics and reports, such as the Federal Statistical Office of Switzerland (FSO) and the EU’s official statistical office.

Key salary statistics for Switzerland

Average annual salary: CHF 81,456, Federal Statistical Office
Average monthly salary: CHF 6788, Federal Statistical Office
Gender pay gap: 9,5% (2022), Federal Statistical Office
Minimum wage: Switzerland applies different cantonal minimum wages, detailed below.

Other interesting notes:

Though many factors impact the level of salaries, in Switzerland, the economic sectors in which someone works are the biggest deciding factors on their earnings.
Switzerland ranked first in the world for the mean average wealth per adult, according to the 2023 Global Wealth Report by Credit Suisse.

Average salary in Switzerland

The average gross salary in Switzerland in 2022 was CHF 6788, the equivalent of an annual average salary of CHF 81,456, according to the Federal Statistical Office. According to data from FSO, the Swiss nominal wage index rose by an average of 1.7% in 2023 compared with 2022.

It should be noted that due to a high variation in average wages and income distribution in Switzerland, their average salaries reflect distorted values due to the very high salaries.

Minimum wage

Unlike other European countries, Switzerland does not have a national minimum wage, but minimum wages are defined at the cantonal level (cantonal minimum wage set per region).

Swiss voters refused to abide by a national standard for minimum wage in 2014. Therefore, they have regional variations that vary based on the cost of living and purchasing power in certain regions. Even if Switzerland does not have a starting base, superlatives are not lacking.

Here are the salary levels per canton:

Canton of Geneva: CHF 24,32/hour, the equivalent of CHF 4,085/month (4,803 USD), which makes it one of the highest minimum wages in the world;
Canton of Zurich: CHF 23,90/hour, the equivalent of CHF 4015.2/month (4,717.83 USD);
Canton of Neuchâtel: CHF 21,09/hour, the equivalent of CHF 3543,12/month (4,164 USD);
Canton of Basel-Stadt: CHF 21,70/hour, the equivalent of CHF 3645,6month (4,285.15 USD), wage applicable only in various sectors;
Canton of Jura: CHF 20,60/ hour, the equivalent of CHF 3460,8/month (4,066 USD)
Canton of Ticino: between CHF 19,75. – 20,25/hours, the equivalent of CHF 3,318/month (3,899 USD).

In the Swiss federalist system, each canton has the autonomy to set its own minimum wage requirements, as well. It’s important to note that minimum Swiss salaries are established based on collective bargaining agreements between employer associations(Collective Labor Agreements), Swiss workers, and employers.

Average salary by region

As shown above, there are high regional variations for the Swiss population depending on location.

For instance, in 2022, Zurich had the highest median gross monthly wage across Switzerland, with an average of CHF 7,229. This is followed closely by Northwestern Switzerland, with an average wage of CHF 6,969, and the Lake Geneva Region, CHF 6,849. In contrast, Ticino had the lowest median wage at CHF 5,590.

When looking at specific management levels, the variation becomes even more obvious, with upper and middle management salaries in Zurich reaching CHF 11,758. In opposition, lower management and non-management positions see significantly lower average salaries across all regions.

Region	Professional position
Region	Total	Upper and middle management	Lower management	Lowest management level	No management function
Lake Geneva Region	6 849	11 111	9 284	7 406	6 220
Espace Mittelland	6 752	10 162	8 565	7 410	6 240
Northwestern Switzerland	6 969	10 715	8 966	7 655	6 412
Zurich	7 229	11 758	9 683	7 990	6 256
Eastern Switzerland	6 344	9 479	7 879	6 822	5 897
Central Switzerland	6 779	10 171	8 501	7 317	6 190
Ticino	5 590	8 755	6 707	6 034	5 184
Switzerland	6 788	10 683	8 915	7 427	6 165

Source: The Swiss Earnings Structure Survey (ESS), FSO

Average salary by sector

FSO data surfaces insights demonstrating that from 2008 to 2022, the wage pyramid stayed at a relatively stable increase with overall stable wage growth. However, the economic sectors make the highest difference in salary disparities in Switzerland.

In 2022, the tobacco industry topped the list with a median salary of CHF 13,299, followed by banking and finance (CHF 10,491) and pharmaceuticals (CHF 10,296). Sectors with high-value creation, such as IT services (CHF 9,412) and insurance (CHF 9,018), also offer strong earning potential.

By comparison, industries like retail (CHF 5,095), the restaurant sector (CHF 4,601), and accommodation (CHF 4,572) are at the lower end of the spectrum, reflecting the lower wages typically associated with service-oriented industries.

These disparities can often be linked to the level of specialized skilled workers required and the overall profitability of the sectors. High-paying industries typically have significant value-added processes or require higher education, whereas lower-paying jobs are concentrated in service sectors with lower barriers to entry.

Industry	Median Monthly Salary (CHF)
Tobacco industry	13,299
Banking and Finance	10,491
Pharmaceuticals	10,296
IT services	9,412
Insurance	9,018
Education/teaching	8,809
Public administration	8,433
Machine parts	7,245
Construction	6,410
Retail	5,095
Restaurant sector	4,601
Accommodation	4,572

Source: FSO, 2022

Average salary by occupation

Swiss salaries varied significantly, too, depending on the occupation. Managers earned the higher salaries, with men earning close to CHF 12,000 and women slightly less. Technicians and associate professionals followed, with a noticeable gap between men and women, as men earned nearly CHF 8,000 while women earned closer to CHF 6,500.

On average, across all occupations, men earned more than women, though the total median monthly wage hovered around CHF 6,500 for men and CHF 5,500 for women. Lower-paying roles, such as clerical support workers and craft-related trades, saw smaller salary differences but still leaned in favor of men.

The lowest-paying jobs, including elementary occupations and service and sales workers, showed a more pronounced gender wage gap, with men consistently earning more across all job groups. This gender disparity reflects ongoing inequalities in Swiss workplaces, even in higher-paying sectors.

https://www.bfs.admin.ch/bfs/en/home/statistics/work-income/wages-income-employment-labour-costs/earnings-structure/groups-occupations.html

At the same time, FSO published an analysis of the median wages depending on an employee’s skill level.

It is quite evident from the graph that the most complex jobs with higher responsibility, problem-solving, and decision-making have the highest salaries.

Source: The Swiss Earnings Structure Survey (ESS), FSO, 2022

The skill levels were defined as follows:

” 4 = Tasks that involve complex problem-solving and decision-making, requiring an extensive amount of factual and theoretical knowledge in a specialized field
3 = Complex practical tasks that require an extensive amount of knowledge in a specialized field
2 = Practical tasks such as sales / care / data processing and administration / operating machinery and electronic devices / security / driving vehicles
1 = Simple physical or manual tasks”

Gender pay gap

In 2022, the gender pay gap in Switzerland continued to shrink, with women earning 9.5% less than men on average, compared to 10.8% in 2020 and 11.5% in 2018. This gradual reduction suggests progress, yet the gap remains significant. FSO attributes these pay differences to factors such as education, age, level of responsibility, and the employment sector.

However, there is still an unexplained portion of the gap, which, when adjusted for these factors, was reported at 7.8% in 2020.

One of the key challenges in understanding the full scope of the pay gap lies in how the data is modeled. While the statistics reflect full-time salaries, they may not fully capture the experience of many Swiss women, who work part-time at a much higher rate than men. This practical reality is often overlooked, painting a somewhat male-centered picture of wage distribution.

Despite these complexities, the Swiss government is committed to closing the gap, with initiatives under the national equality strategy aiming to eliminate it by 2030 and promote gender equality.

Hallmarks of the labor market in Switzerland

General notes on Switzerland’s job market

Flexibility and social dialogue: Switzerland’s labor market is known for its adaptability, allowing businesses to respond to economic changes while ensuring a balanced relationship between employers and employees.
High wages and strong worker protections: The country is one of the 20th richest countries in the world with an attractive job market. Hence, Swiss people enjoy high salaries, excellent working conditions, and a robust social security system, attracting top talent and a diverse workforce from across the globe.
Dual education system: The Alpine Nation offers a combination of vocational training and formal education, which equips the Swiss workforce with both practical and academic skills, contributing to Switzerland’s low unemployment rate, particularly among young people.
Regional & sectoral wage differences: Salaries can vary significantly by region and industry, with Zurich offering higher wages than regions like Ticino. High-value industries like finance, pharmaceuticals, and IT lead with top salaries, while hospitality and retail offer lower compensation.

Social charges in Switzerland

Switzerland also remarks itself on relatively low social charges on salaries. The social charges are as follows:

Old age, income loss, and disability insurance (1st pillar): Mandatory contributions under AVS, AI, and APG ensure income for retirees, people with disabilities, and individuals on maternity leave or performing military service.
Unemployment insurance: Cover the need for financial assistance to involuntarily unemployed workers.
Accident insurance: This insurance is automatically covered by employers, ensuring medical coverage in the healthcare sector and compensation in case of workplace or non-professional accidents.
Professional provident (2nd pillar): A mandatory retirement system for employees earning over 22,050 CHF, designed to maintain a standard of living during their retirement.
Private pension savings (3rd pillar): A voluntary retirement savings option with tax advantages, though withdrawals are subject to income-based taxation.

Taxation of salaries

In Switzerland, there are three levels of taxation. Certain salaries in Switzerland are taxed at federal, cantonal, or communal levels. The salaries also have progressive rates based on the earned income.

End-of-year tax documentation: Employers provide employees with a salary certificate summarizing total earnings and deductions, which is used for annual tax declarations.
Tax at source for foreign workers: Foreign workers typically have their taxes withheld directly from their salary, simplifying the process.
Canton tax variations: Tax rates vary by canton, with Zurich and Geneva generally having higher rates than tax-friendly cantons like Schwyz or Zug.

Comparison with other countries

Eurostat research on average salaries across European countries reveals that in 2023, Switzerland topped the list with an average annual net earning of €85,582. Switzerland’s average salary is significantly higher than that of all other European countries, as reflected in the above image.

Source : Eurostat

FAQ

Is $100 000 a good salary in Switzerland?

As Switzerland has competitive salaries, $100,000, the equivalent of 84,816.00 CHF (according to the exchange rate on September 12th, 2024), is considered a higher salary in Switzerland. Note that you should make the decision based on your individual situation and consider factors such as having a family or living alone, as well as other particular expenses.

Is 120k a good salary in Switzerland?

120k can be a good salary in Switzerland if you’re supporting a family with this amount. However, it can depend on your location and other factors that are particular to you, as well as your expenses.

What is the average salary Switzerland has in euros?

The average salary in Switzerland in euros is as follows: 7,219.36 Euro, which is the equivalent of the monthly average salary of CHF 6788, and 86,628.71 Euros, the equivalent of the average yearly wage of CHF 81,456.

Read more:

Sources: