{
}
Sergio Ermotti, UBS's CEO, earned 14.9 million francs last year, making him Europe's highest-paid banking manager, sparking renewed political debate over executive salaries. A recent motion proposes capping bank managers' salaries at 5 million francs, which could hinder talent acquisition in the financial sector. Critics argue that excessive variable pay encourages risky behavior, echoing concerns from past banking crises.
UBS CEO Sergio Ermotti's salary of CHF 14.9 million has sparked controversy, leading to a narrow vote in the Council of States for a salary cap of CHF 3 to 5 million for bankers. Critics argue this infringes on economic freedom, while supporters claim it addresses excessive risk-taking in the banking sector. The motion, primarily targeting UBS, faces further scrutiny as it requires approval from the National Council to become law.
Wages are set to rise by an average of 1.4% in the coming year, with the banking and insurance sector seeing a modest increase of 1.5%, down from 1.8% last year. Many bankers are likely to be disappointed, as substantial pay rises are not expected amid industry consolidation and the impact of falling interest rates. Job changes no longer guarantee significant salary increases, particularly for those leaving or being laid off from institutions like Credit Suisse.
Salaries in the banking sector are set to rise by an average of 1.5% in 2025, following a 1.8% increase last year, reflecting a modest growth compared to other industries like IT and pharmaceuticals. Many bankers may face disappointment as significant pay hikes are unlikely, with institutions focusing on consolidation amid falling interest rates and lower revenues. The initial wave of job changes post-Credit Suisse's collapse has passed, leaving those considering resignations or facing layoffs with tougher prospects and potential salary reductions.
Wages are set to rise by an average of 1.4% in the coming year, with the banking and insurance sector seeing a modest increase of 1.5%. Many bankers are likely to be disappointed, as substantial pay rises are not expected amid industry consolidation and the impact of falling interest rates. Job changes no longer guarantee significant salary increases, particularly for those leaving Credit Suisse.
Jonas Neff
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
debate over high salaries for bank managers intensifies in switzerland
Euro
Swiss Franc
United States Dollar
Novartis AG
Credit Suisse Strategic Income I
UWS JP Morgan EM A OSB
Nestlé S.A.
The Goldman Sachs Group, Inc.
Deutsche Bank RV Global PP
DEU
USA
CHE
Sergio Ermotti
Ulf Schneider
Vasant Narasimhan
Daniel Vasella
Jakob Stark
Vincent Kaufmann
Jonas Neff
Show more
12:40 17.03.2025
Swiss Council of States approves salary cap for bankers amid controversy
11:38 17.03.2025
bankers face disappointing wage increases amid industry consolidation and lower earnings
04:54 05.12.2024
Banking Sector Faces Modest Salary Increases Amid Economic Challenges
04:54 05.12.2024
Bankers Face Modest Wage Increases Amid Industry Consolidation and Challenges
04:54 05.12.2024
Trending
Subcategory
Corporate News
Startups & Entrepreneurship
Industry Trends
Global Trade Developments
Stock Market Updates
Supply Chain Management
Industry Mergers & Acquisitions
Retail and Consumer Goods
Fintech Startups
Private Equity Deals
Government Economic Policies
Venture Capital Investments
Inflation and Monetary Impact
CEO Changes
Central Bank Actions
Workplace Trends
Corporate Social Responsibility
Finance Mergers & Acquisitions
Economic Indicators
AI Innovations
Countries:
Companies:
Apple Inc.
Google Inc.
Grab2Go AS
OLA ELECTRIC MOBILITY LTD
Delhivery Limited
Ecom Express Ltd.
EFG Hermes Egypt
NIO Inc.
Morgan Stanley
Nikkei 225
Nintendo Co., Ltd.
Goto Ltd
Mizuho Financial Group, Inc.
Mitsubishi UFJ Financial Group, Inc.
Microsoft Corporation
Scripbox.COM India Ltd.
Amazon.com, Inc.
OpenAI ERC USD
JPMorgan Chase & Co.
Eurasia Groupe SA
Currencies:
United States Dollar
Indian Rupee
Euro
Chinese Yuan
Japanese Yen
United Arab Emirates Dirham
South Korean Won
Indonesian Rupiah
Saudi Riyal
Hong Kong Dollar
New Taiwan Dollar
Offshore Chinese Yuan
Egyptian Pound
Pakistani Rupee
Qatari Riyal
Malaysian Ringgit
Filipino Peso
West African CFA Franc
Thai Baht
Mexican Peso
People: