Expats in Switzerland earn over $180,000 per annum (Rs 1.2 crore) on average, which is well above the global average of $104,000 (Rs 70 lakh). This is the finding of a survey of expats by global banking major HSBC. However, it is not just salary that makes Switzerland the top career destination for expats, says the survey.
Switzerland was followed by Sweden (average pay of $81,989 or Rs 55 lakh) and Germany ($90,400 or Rs 61 lakh) as the top destination for expats. The survey was based on factors such as earnings prospects, career prospects, work-life balance and job security.
“With a strong currency, powerful labour market and booming export industry, Switzerland’s economy has remained stable throughout wider Eurozone volatility. The country offers expats very high earning potential in a diverse and satisfying working environment,” the survey found. 65 per cent of expats living in Switzerland rate it highly for earnings prospects.
In terms of earnings prospects, Qatar (average pay $115,186 or Rs 78 lakh) was ranked the best country while for career progression, Hong Kong (average pay of $176,244 or Rs 1.18 crore) topped the charts. Sweden was ranked No. 1 in terms of work-life balance.
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Expats say life is about more than just salary in Switzerland. Nearly 60 per cent of expats living in Switzerland rated the country highly for work-life balance. The European country’s working culture was rated highly by 53 per cent of the expats. Similarly, in terms of career progression, 53 per cent of expats say Switzerland is a good place for career progression, while 43 per cent said they enjoyed more job security.
The study was based on a survey of almost 22,000 expats in over 100 countries.