Expats in Switzerland significantly outearn counterparts in Hong Kong and the United States.
Keystone
Expats in Switzerland remain the highest earners globally, bringing home an average annual income of $202,865 (CHF202,516), according to a study published on Thursday by HSBC.
The United States and Hong Kong complete the podium of top earners. Expats there earn $185,119 and $178,706 per year, according to the HSBC Expat Explorer, now in its 11th edition.
People who decide to move to Switzerland to work generally benefit from a substantial salary increase, roughly $61,000 dollars, according to experts at the British bank.
But money is not the top consideration when professionals pick Switzerland.
More than a third (35%) gave career opportunities as the main reason for their relocation to the Alpine nations. A better quality of life proved a close second (32%), followed by salary (24%).
The survey was completed by 22,318 expats from 163 countries and territories through an online questionnaire in March and April 2018.
Switzerland does not disappoint. Once settled in the Alpine nation, almost two-third of respondents said Switzerland was a good springboard for their career and 73% hailed its high quality of life.
That rosy view was replicated by expat children who reported a high-level of well-being.
“The study confirms what we hear from our customers. Apart from professional and financial reasons, foreigners who settle in Switzerland appreciate the quality of life and stability of the Swiss system,” said Jean-François Bunlon, Head of the Swiss market at HSBC Private Banking.
The situation of the Swiss who decide to move abroad is less enviable in terms of income. HSBC says they are facing an average wage cut of around 6%.
However, these Swiss citizens see the value in moving abroad. They are twice more likely to start a business than other expatriates.
More
More
Switzerland named among biggest losers in expat survey
This content was published on
Switzerland is now the 44th best country to live as an expat, according to a survey which highlights the cold realities of life in the Alpine nation.
Swiss invention: 90-year anniversary of first T-bar ski lift
This content was published on
On Monday it will be 90 years since the world’s first T-bar ski lift went into service in Davos. This Swiss invention was an instant success.
Iran summons Swiss ambassador over US and Italy arrests
This content was published on
Iran has summoned the Swiss ambassador, who represents US interests, to protest against the arrest in the US and Italy of two Iranians.
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
Why global elites trust Switzerland with their children
This content was published on
When it comes to sending your kids to summer camp abroad, Switzerland is an obvious choice, at least for those who can afford to pay top dollar.
This content was published on
The first comprehensive expat typology has broken down Swiss people who live and work in another country into seven types.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.