Annual pay increases in Switzerland depends on several factors, including the sector, individual performance, the job itself, as well as external conditions, such as economic situation in general.
Another important factor that plays a role in pay increases (and salaries in general) is the level at which employees work — the higher the position within the company, the higher the raise.
In Switzerland, metals traders experienced the biggest hike — 25 percent — in 2024, followed by tax lawyers (20 percent), and multilingual sales managers (18 percent).
This is what emerges from the Michael Page Salary and Hiring Insights Guide 2025.
Results also show that sectors with average salary increases of 10 percent over the last 12 months principally hail from the financial services industry.
For instance, banking compliance officers and accountants have seen their salaries increase by 11 percent.
Likewise, key insurance roles, such as senior insurance account managers have seen similar average salary increases.
"Legal positions and associates are in demand due to the slowing economy, with only moderate growth forecast for 2025," says the report.
"As a result, there is a need for positions in Legal to deal with the accompanying growing amount of legal challenges. This increased demand has exerted upward pressure on salaries for these positions."
Which jobs command the highest wages in Switzerland?
These are the highest-paid positions, according to study’s findings:
- Head of Private Banking: 500,000 francs a year
- Chief Investment Officer (in banking and finance) and Chief Financial Officer in multinational companies: 450,000 francs
- Senior Vice President/Chief HR Officer in multinational firms: 400,000 francs
- Chief Operating Officer in Banking and Finance field: 360,000
- Managing Director, Investment Banking or Private Equity; Vice President of Financial Control in multinational firms; Site Head in the field of Health & Lifesciences; Head Regulatory Affairs & Quality Management in the Health & Lifesciences sector; Chief Information Officer in IT; and Legal Counsel — all earn 350,000 a year.
According to Yannick Coulange, Managing Director of Michael Page Switzerland, “there is a strong demand for candidates who can tackle business challenges and achieve ambitious sales targets. The demand for professionals in critical sectors like IT, which focus on cost reduction, business process, and optimisation, remains robust.”
And speaking of jobs…
A study on a professional network LinkedIn reveals several professions expected to experience the strongest growth in Switzerland in 2025.
These are the top five:
Financial manager
This position grabs the top spot.
As the title suggests, this person manages company money, is responsible for assessing its financial risks, and, in general, overseeing banking and financing operations.
Unsurprisingly, the Zurich region is where most financial managers are recruited.
Cybersecurity expert
This is one of the top jobs in the IT field, and may become even more in demand in the future, given the rise in the hacking and phishing attempts on private and public companies.
Accountant
This position is in demand because all companies need experts to manage their finances, and prepare monthly and annual budgets.
The study shows that there is a lot of recruitment for this position around Zurich, Geneva, and Lausanne.
Human Resources (HR) manager
This too is a position all companies need.
That’s because these professionals play an important role by recruiting, hiring, and training staff, as well as generally planning, coordinating, and managing the administrative functions of an organisation.
Travel agent
The travel industry has mostly recovered from the Covid lull and these professionals are sought for creating personalised itineraries, booking accommodation, and organising transportation.
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