Banking jobs in Switzerland 2024 | Switzerland jobs openings

Switzerland, renowned for its banking secrecy and stability, offers a thriving financial sector with numerous job opportunities. As a hub for international banking, Switzerland attracts professionals seeking challenging and rewarding careers. With its robust economy and favorable business environment, Switzerland is an ideal destination for those looking to advance their careers in banking.

The Swiss banking industry is characterized by its stringent regulations, cutting-edge technology, and commitment to excellence. Top banks in Switzerland, such as UBS Group AG, Credit Suisse Group AG, and Julius Baer, offer a range of roles, from entry-level positions to senior management posts. Whether you’re a finance graduate or an experienced banking professional, Switzerland offers a dynamic and competitive environment to grow your career.

In this article, we will explore the latest banking job opportunities in Switzerland, the qualifications and skills required, and the steps to secure a job in this coveted industry. We will also delve into the average salary ranges, language requirements, and tips for international candidates seeking to break into the Swiss banking sector. Whether you’re a local or international candidate, this guide aims to provide valuable insights and information to help you navigate the Swiss banking job market.

Top banks in Switzerland to work for in 2024

Here are some of the top banks in Switzerland to work for in 2024:

UBS Group AG: Founded in 1998, UBS Group AG is a result of a merger between the Union Bank of Switzerland and the Swiss Bank Corporation
Julius Baer: Julius Baer is one of the oldest and most prestigious banks in Switzerland.
Raiffeisen Switzerland: This bank is known for its cooperative structure.
Banque Cantonale de Genève (BCGE): BCGE is a cantonal bank that offers a variety of financial services.
Credit Suisse Group AG: Credit Suisse is a global wealth manager, investment bank, and financial services firm.
HSBC Private Bank (Suisse): This is the Swiss operation of the international financial services company, HSBC.
J.P. Morgan (Suisse): The Swiss branch of the global financial services firm, J.P. Morgan.
Standard Chartered Bank (Switzerland): This is the Swiss operation of the British multinational banking and financial services company, Standard Chartered.
Vontobel: Vontobel is a globally oriented Swiss private bank.

The latest banking job opportunities in Switzerland

Here are some of the latest banking job opportunities in Switzerland:

BA Core Banking at BillEase. This is a full-time position.
Senior Private Banker at AX Partners. This is also a full-time position.
CRM Assistant In Private Banking at Bank J. Safra Sarasin AG in Gen
Fund Accountant at Northern Trust. This is a 12-month Fixed Term Contract position based in Basel.
Investment Controller (m/w/d) at a family office. The company is looking to strengthen its team.
Trust Manager – Fr/En mandatory at Michael Page Belgium. You will be responsible for managing a portfolio of trust accounts.
Head of Compliance & Risk at TMF Group. You will ensure AML risk management.
Performance Analyst- Senior Associate at State Street. You will stay current on regulations and the changing business environment.
Transfer Pricing Director at Kingpin International. You’ll be at the forefront of shaping strategies.
Senior Manager in Corporate Tax at Kingpin International. You’ll play a pivotal role in shaping tax strategies

Qualifications required for banking jobs in Switzerland

The qualifications required for banking jobs in Switzerland can vary depending on the specific role and the bank. However, here are some general qualifications that are often required:

1. Education:

A bachelor’s degree in economics, finance, or accounting is typically required. For some roles, such as investment banking, a master’s degree in a related field may be preferred.

3. Experience:

Previous experience in banking or finance can be beneficial. The level of experience required can depend on the role. For example, senior roles may require several years of experience in a related field.

4. Skills:

Strong analytical skills, attention to detail, and the ability to work under pressure are often required. Knowledge of banking procedures and regulations, as well as strong communication and interpersonal skills, can also be important.

5. Language:

Proficiency in English is often required, and knowledge of other languages, especially German, French, or Italian (the official languages of Switzerland), can be an advantage.

6. Certifications:

Certain roles may require specific certifications. For example, financial analysts may benefit from certification as a Chartered Financial Analyst (CFA).

Are there any specific visa requirements for foreigners applying for banking jobs in Switzerland?

Yes, there are specific visa requirements for foreigners applying for banking jobs in Switzerland. Here are some key points:

1. Work Permit:

Most foreign nationals require a permit to work in Switzerland. The procedure for obtaining a permit depends on your nationality and type of employment.

2. Highly-Qualified Candidates:

In general, only highly qualified candidates – i.e., those who have a degree from a university or an institution of higher education and several years of professional work experience – will be issued with a work permit.

3. Non-EU/EFTA Nationals:

Nationals from neither EU/EFTA member states nor Switzerland must hold a work permit. Regulations on how to get one are considerably tighter than for most Europeans and are often directly tied to employment. Only qualified non-EU/EFTA nationals, for example, managers, specialists or university graduates with several years of professional experience, may work in Switzerland.

4. Documents Required:

The documents required for a Switzerland work visa include an application form, a copy of your passport, confirmation that the job vacancy is advertised by the regional employment office (RAV) and within the EURES system, copies of job advertisements published in professional journals, national weekly or daily newspapers in Switzerland, specialist online portals and social media (such as LinkedIn), information on other job search efforts in Switzerland and the EU/EFTA area (as customary in the respective sector), confirmation from an appointed employment agent, and information on applications received and reasons that they cannot be considered.

How to get a job in banking in Switzerland?

Getting a job in the banking sector in Switzerland involves several steps. Here are some general tips:

Education and Qualifications: Having a degree in finance, economics, or a related field is often essential. Specialized certifications and qualifications related to banking can also be beneficial.
Internship: For a job at a Swiss bank, it’s often necessary to complete an internship with the bank and pass the recruitment process.
Job Search: You can search for jobs in Switzerland via standard methods – online, in newspapers, by networking, and by sending speculative applications. Websites of banks and financial institutions often have a ‘Careers’ section where they post job vacancies.
Application: For most job applications, you will need to send a CV and cover letter. Your CV should highlight your relevant skills, experience, and education. The cover letter should express your interest in the role and the company, and how your skills and experience make you a good fit.
Networking: Networking can be a powerful tool in your job search. Attend industry events, join professional organizations, and connect with professionals in the field.
Interview Preparation: If you’re invited for an interview, prepare thoroughly. Research the company, understand the role, and be ready to discuss your skills and experiences.
Work Permit: If you’re not a Swiss citizen, you’ll need a work permit to work in Switzerland. The process for obtaining a work permit often starts after you’ve been offered a job.

What is the minimum requirements for Swiss bank?

To open a Swiss bank account, you’ll generally need the following:

A valid EU/EFTA passport or government-issued ID
To be at least 18 years of age
Proof of residence inside or outside of Switzerland
Often, a G permit for cross-border workers and proof of employment is required

For Swiss banks themselves, the Swiss National Bank (SNB) has set certain minimum reserve requirements. As of July 1, 2024, the SNB has increased the minimum reserve requirement for domestic banks. This includes liabilities from callable customer deposits (excluding tied pension assets) which will be included in full in the calculation of the minimum reserve requirement.

The previous exception that only 20% of these liabilities are to be taken into account for the calculation will therefore be eliminated. The SNB is also raising the minimum reserve ratio to 4% from the previous 2.5%. These adjustments are made to ensure the continued effective and efficient implementation of monetary policy.

What is the entry-level salary in Switzerland banking?

The entry-level salary in the banking sector in Switzerland varies depending on the specific role. However, here are some general figures:

The average banking salary in Switzerland is CHF 115’000 per year.
Entry-level positions in banking start at CHF 68’750 per year.
For a more specific role, an entry-level position for a banker starts at CHF 97’500 per year.

Who is eligible for Swiss bank?

To open a Swiss bank account, the general requirements are as follows:

Age: Nonresidents of Switzerland must be at least 18 years old.
Residency: You must reside in a country that is eligible for Swiss banking.
Identity Verification: Swiss banks employ a strict level of scrutiny in evaluating official documentation of your identity. For example, you may need to show your official passport.
No Criminal Background: There should be no evidence of a criminal background or illegal activities (e.g., money laundering).
Proof of Profession and Source of Funds: Swiss anti-money-laundering laws require a prospective Swiss bank account holder to provide several documents to open an account. These include authenticated copies of your passport and documents explaining your profession, such as tax returns, company documents, professional licenses, etc.; proof of the source of your funds.

The average salary range for banking professionals in Switzerland

The average salary for banking professionals in Switzerland varies depending on the specific role and level of experience. Here are some examples:

Administrative worker in bookkeeping: CHF 78,000 per year
Portfolio operations specialist: CHF 95,004 per year
Analyst investment banking: CHF 99,996 per year
Junior portfolio manager: CHF 110,006 per year
Auditor: CHF 111,995 per year
Financial analyst: CHF 113,997 per year
Compliance officer/manager: CHF 120,003 per year
Credit and risk manager: CHF 127,998 per year
Associate investment banking: CHF 135,005 per year

The average yearly salary for a person working in banking in Switzerland is around CHF 136,000. However, the overall average salary can range between CHF 100,000 to CHF 200,000 per year

Which job is most demand in Switzerland?

The most in-demand jobs in Switzerland as of 2024 are as follows:

Nursing Professionals: There are 6,395 job listings for nursing and care staff. The healthcare industry is booming with positions for doctors, nurses, and other medical professionals.
Electricians: There are 6,337 job listings for electricians. Skilled tradespeople are in high demand due to the increase in construction projects throughout Switzerland.
Sales Assistants: There are 4,056 job listings for sales assistants. Retail is one of the sectors with a high number of open positions.
Carpenters: There are 3,377 job listings for carpenters. The construction sector has a significant number of open positions.
Project Managers: There are 3,256 job listings for project managers. This role is in demand across various industries.
Software Developers: There are 3,187 job listings for software developers. The IT sector also has a significant number of open positions.
Polymechanics: There are 3,128 job listings for polymechanics. This role is in demand in the manufacturing and production sectors.
Healthcare Specialists: There are 2,625 job listings for healthcare specialists. This role is in demand in the healthcare sector.
Service Technicians: There are 2,606 job listings for service technicians. This role is in demand in various sectors.
Commercial Clerks: There are 2,559 job listings for commercial clerks. This role is in demand in various sectors.

Do Swiss banks pay well?

Yes, Swiss banks generally offer competitive salaries. The exact amount can vary depending on the specific role and level of experience. Here are some examples:

Administrative worker in bookkeeping: CHF 78,000 per year
Portfolio operations specialist: CHF 95,004 per year
Analyst investment banking: CHF 99,996 per year
Junior portfolio manager: CHF 110,006 per year
Auditor: CHF 111,995 per year
Financial analyst: CHF 113,997 per year
Compliance officer/manager: CHF 120,003 per year
Credit and risk manager: CHF 127,998 per year
Associate investment banking: CHF 135,005 per year

The average yearly salary for a person working in banking in Switzerland is around CHF 136,000. However, the overall average salary can range between CHF 100,000 to CHF 200,000 per year.

FAQs (Frequently Asked Questions)

What are the typical qualifications required for banking jobs in Switzerland?

Qualifications for banking jobs in Switzerland vary depending on the role and level of experience required. Generally, a bachelor’s degree in finance, economics, business administration, or a related field is preferred. Additional certifications such as Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA) may be advantageous for certain positions.

Are language skills important for banking jobs in Switzerland?

Yes, language skills are crucial, particularly in Switzerland’s multilingual environment. Proficiency in English is often required for international roles, while fluency in German, French, or Italian may be necessary for domestic positions, depending on the region.

Is it necessary to have prior banking experience to secure a job in Switzerland’s finance sector?

While prior banking experience can be advantageous, it is not always a prerequisite for securing a job in Switzerland’s finance sector. Many entry-level positions offer training and development opportunities for individuals with transferable skills or relevant educational backgrounds.

What are some key skills required for success in banking jobs in Switzerland?

Key skills for success in banking jobs in Switzerland include strong analytical abilities, attention to detail, excellent communication skills, and a customer-centric approach. Additionally, proficiency in financial modeling, risk management, and regulatory compliance is highly valued in the industry.

How can international candidates secure banking jobs in Switzerland?

International candidates seeking banking jobs in Switzerland should familiarize themselves with the country’s banking regulations, cultural norms, and language requirements. Networking with professionals in the industry, pursuing relevant certifications, and showcasing transferable skills can enhance job prospects for international candidates.

Thank you for reading! If you’re interested in staying up-to-date on the latest banking jobs in Switzerland, bookmark our website for future reference. If you have any questions or need further guidance, feel free to leave a comment below. Additionally, share this article with others who may be interested in pursuing a career in Switzerland’s banking sector. We wish you the best of luck in your job search!