iBanking in Zurich iBanking in Zurich
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  1. #1

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    LegendsWear7 has no reputation

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    Default iBanking in Zurich

    Just started in a non-banking role in Zurich and the money is so so. Eating out is a problem with the crazy prices for a decent bite (33 quid for a good breakfast on Sunday .. £66 when paying for my guest too). And beer ? Strewth I may have to become teetotal.


    I would look to UBS/Credit Suisse here later (I have IB experience) and very possibly on the perm side too if the bonus is serious.

    Anybody have CS/UBS experience in Zurich ?

    Hours / work culture / assholeness / bonuses versus The City ?


    Is it likely to be mega hours or knock off at 6 because it is Switzerland ?

    PS: Just arrived but can already confirm that the cheese is wonderful.
    Last edited by LegendsWear7; 31st May 2010 at 17:43.

  2. #2

    Fingers like lightning

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    Of course, it varies from department to department, team to team but:

    1) On average, fewer hours than in London, less presenteeism, but longer hours than most of Europe (42 standard versus 35 in France, etc.) I like the 42 hr contract better, because it's more realistic. I had 37 in the UK but I never remember ever working less than 45.

    2) CS tend to pay better.

    3) Eating out is v. expensive, but you find places that are more reasonable. Also remember you are comparing prices when GBP is incredibly weak (1.65 atm). Up until last year, GBPCHF was more like 2.50. So a 100 frank purchase now costs £60 instead of £40.

    4) Tax is waaaay lower. Think 15% instead of ~35%. Social security too - 11% instead of what is it now it the UK 23% (11+12)?

  3. #3

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    NotAllThere is always on top

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    You could always go into Denner, get some cheap booze, and drink it by the lake, just like the students.
    <-2m->

  4. #4

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    BlasterBates - scorchio!

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    Swiss and any European Investment banks, are just not comparable with the City. There 's no Investment Banking culture, it's the same as working in any other company. Never ever done a single second of overtime in several years working in different banks. Generally relaxed, but not spectacular pay, fairly ordinairy rates compared to London, salaries aren't particularly high either. I would say contractor rates at the moment would be round 90 - 110 hour. Salary...hmm depends I would say between 120,000 to 150000 for a senior role.
    I'm alright Jack

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    meridian - scorchio!

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    Compare stuff (including withholding taxes by canton) here

    Get yourself over to englishforum.ch (surprised NAT didn't put a plug in....), there are a lot of expats in Zurich who can help out with where to eat, shop, etc.

    Core hours 42.5 but as bobhope says, will depend on the company and team. I'm out the doors between 6 and 6.30, most of the dev team are still here until 7.30 or 8.00.

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    Quote Originally Posted by meridian View Post
    Compare stuff (including withholding taxes by canton) here

    Get yourself over to englishforum.ch (surprised NAT didn't put a plug in....), ...
    Too busy watching the over Israel's latest peace initiative. And occasionally fanning the flames.
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  7. #7

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    Quote Originally Posted by NotAllThere View Post
    You could always go into Denner, get some cheap booze, and drink it by the lake, just like the students.
    I think they are trying to ban that. Champagne by the lake will be OK of course.
    Behold the warranty -- the bold print giveth and the fine print taketh away.

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    alreadypacked has more data than eek

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    Looks like I'm heading back to Zurich at the end of the month. Maybe we should have a Zurich meet-up thread. How many of us are in Zurich?


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    Fiscal nomad it's legal.

  9. #9

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    Quote Originally Posted by LegendsWear7 View Post
    Is it likely to be mega hours or knock off at 6 because it is Switzerland ?
    If you work more than your standard hours, expect to get paid for them or be forced to take time off in lieu. There are some quite heavy (by UK standards) laws about this, including personal fines for managers.

    Quote Originally Posted by LegendsWear7 View Post
    PS: Just arrived but can already confirm that the cheese is wonderful.
    In my first year here I aimed at discovering at least two different types of cheese per week. Have fun.
    Behold the warranty -- the bold print giveth and the fine print taketh away.

  10. #10

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    Quote Originally Posted by alreadypacked View Post
    Looks like I'm heading back to Zurich at the end of the month. Maybe we should have a Zurich meet-up thread. How many of us are in Zurich?


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    Not in Zurich, but can get there quite easily. I'm not into the ridiculously priced English /Irish pubs though.

    +1
    Behold the warranty -- the bold print giveth and the fine print taketh away.

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