The good news is that Basel, Switzerland’s third-largest city, is not quite as expensive overall as the two bigger ones — Zurich and Geneva (read more about this below).
But that doesn’t mean you can live in the northern city on the cheap, so you do need a higher-than average salary, which in Basel is 6,766.8 francs net per month.
Of course, how much more you need depends on your circumstances: if you are single, that pay is sufficient to cover your basic expenses and maybe have some money left over.
That’s because, according to Numbeo cost of living database, monthly costs for a single person (that is, recurring expenses like health insurance, utilities, and taxes) are estimated at 1,497 francs.
But that’s without rent and food. If you add the cost of a one-bedroom apartment (which should be enough for a single individual) — 1,580 francs — that amounts to 3,077 francs in total.
Then there are groceries, the price of which depends on what you like to eat and drink. But you probably need to add at least several hundred francs to the tally.
What about families?
Things are harder for a household of four people — that is, parents with two children — provided they earn no more than the average wage.
Their monthly costs are estimated at 5,512 francs (nearly the entirety of their income) without the rent and food.
The price of a three-bedroom apartment outside city centre comes to 2,236 francs, which means the total of 7,748 francs per month is needed to cover just the basic costs, not including food, which for a family of this size would probably cost, minimally and frugally, 1,000 francs a month.
Of course, this calculation is based on only one person in the family working full-time; if both spouses are employed and earning a median wage, then the financial situation looks better.
But there is more
This estimate is based on a median income.
This means that 50 percent of the population earns less and 50 percent more.
It is more than likely, however, that if you moved to Basel from abroad, it is to work in the pharma and life sciences industry that the city is known for.
If that’s the case, and you are employed by companies like Roche, Novartis, or others in this sector, your salary probably far exceeds the median wage.
For instance, according to a site dedicated to wages in Basel’s pharmaceutical and biotechnology companies, average salaries in this sector are 176,000 a year, which means upwards of 14,000 francs a month.
That would certainly be considered a good salary for qualified professionals in Basel.
Keep in mind, however, that all these numbers are based on averages and estimates, and that your particular situation may be different.
Last but not least: how does Basel compare with Zurich and Geneva?
Overall, according to Numbeo, Basel is 9.6 percent less expensive than Zurich, and the purchasing power of local residents is 11.5 percent higher than Zurich’s.
It is also 9 percent cheaper than Geneva, and the purchasing power of its population is 17.3 percent higher.
In terms of median wages, the average monthly salary in Zurich is 7,156.91 francs.
In Geneva, it is 6,503.24 francs.
READ ALSO: Zurich vs Geneva: What's considered a good salary for foreign workers?
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