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longtomsilver

How Far Does A Chf120,000 Salary Get You Nowadays?

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One earner based in Geneva, two children in toe... serious question.

Thank you.

Didn't you see the long thread on this very subject from about July? I got offered a very well paying contract in Zurich but there were mixed comments about whether you could actualyl live on it or not.

There were plenty of good comments on here and, on an English/Swiss forum, I found plenty of posts from people who were earning 120,000 and more who were saying that the cost of living there negated the money they were earning.

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Didn't you see the long thread on this very subject from about July? I got offered a very well paying contract in Zurich but there were mixed comments about whether you could actualyl live on it or not.

There were plenty of good comments on here and, on an English/Swiss forum, I found plenty of posts from people who were earning 120,000 and more who were saying that the cost of living there negated the money they were earning.

Sorry I missed it and I am unable to search from this phone.

That's what I though... some reservations and we would be barred from living across the border.

Linky please or mods if you could merge.

:)

Edit: spotted, your ahead of me thanks.

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Sorry I missed it and I am unable to search from this phone.

That's what I though... some reservations and we would be barred from living across the border.

Linky please or mods if you could merge.

:)

Edit: spotted, your ahead of me thanks.

From what numerous people told me it is nigh on impossible to work there as your own limited company so you have to work as a kind of permie which means virtually nothing is tax deductible. So you have high swiss taxation combined with high rental costs, high food costs and high medical costs - you have to pay a retainer per month just for a GP.

Since I turned down that job I subsequently read an article about Swizterland that stated the country was havin trouble attracting skilled workers now due to the above issues. Yes, if you are a super-rich banker or a F1 driver the costs are nothing but it appears for the likes of you and I the Swiss, from what I can make out, really don't want us to live there - want our expertise but really don't want us.

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From what numerous people told me it is nigh on impossible to work there as your own limited company so you have to work as a kind of permie which means virtually nothing is tax deductible. So you have high swiss taxation combined with high rental costs, high food costs and high medical costs - you have to pay a retainer per month just for a GP.

Since I turned down that job I subsequently read an article about Swizterland that stated the country was havin trouble attracting skilled workers now due to the above issues. Yes, if you are a super-rich banker or a F1 driver the costs are nothing but it appears for the likes of you and I the Swiss, from what I can make out, really don't want us to live there - want our expertise but really don't want us.

Thanks again... blasted through that thread and it takes the shine off moving there :( it's the wife's skill set as it happens and is an opportunity for promotion. She is taking a 30% pay cut from November anyway (losing the favourable exchange rate from the mothership). She's fluent in French suppose that counts for nothing and we'll keep dreaming :D

Edit: permanent role and the company would get fined if she lived outside of town apparently ??

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Edit: permanent role and the company would get fined if she lived outside of town apparently ??

W*nk isn't it. I hope Switzerland ends up like Greece which increasingly seems likely.

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W*nk isn't it. I hope Switzerland ends up like Greece which increasingly seems likely.

I think you are being too kind. Lots of similarities with Ireland I guess and big corps will come to regret moving out there if all they can come to rely on is the small pool of indigenous talent. Good for their own I suppose.

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I think you are being too kind. Lots of similarities with Ireland I guess and big corps will come to regret moving out there if all they can come to rely on is the small pool of indigenous talent. Good for their own I suppose.

It just is not worth it. You get stung for massive tax and then, after tax, you have massive rental costs - heck, you ain't even buying which makes london rentals look cheap.

So you basically can't rellocate there permanently but don't have any cash left to save to buy a home back home. On that English Swiss forum I read numerous posts from ex-pats who said that they could not afford to live there and also save.

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Remember the "fate" thread? Well I had a bizarre feeling of deja vu reading yours and TMT's posts just now, as if I knew what I was going to read, and it was important.

I want to say "I think you should go" like a psychic in a Steven King novel. :)

But really I don't think following hunches of unfathomable Internet strangers would necessarily be classed as "wise".

True - just reaffirming what we have learned from our feelers. This post was filled only last year and that person has left (more worrying that the first tranche got s 50% uplift in salary for moving out so ~CHF180,000). Life's a b1tch.

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Mrs Posh is in Geneva this week.

Has decided against the move anyway but anecdotally had an evening meal with a colleague in a not all singing/dancing restaurant:

Chicken, chips and cheese + 1 beer + coke was 55 Swiss francs. :D:D:D

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Chicken, chips and cheese + 1 beer + coke was 55 Swiss francs. :D:D:D

That would've been fine before the £ was devalued further.

I've got a friend who sold his house here in the early boom days and has been raking it in over there. He has been mulling over reversing his decision - he'd be moving back into a mansion now.

It's all just Fx really.

p.s. Your wife's friend must take her to some odd places, food can be had cheaper there although still costly.

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That would've been fine before the £ was devalued further.

It's all just Fx really.

p.s. Your wife's friend must take her to some odd places, food can be had cheaper there although still costly.

+3

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Mrs Posh is in Geneva this week.

Has decided against the move anyway but anecdotally had an evening meal with a colleague in a not all singing/dancing restaurant:

Chicken, chips and cheese + 1 beer + coke was 55 Swiss francs. :D:D:D

Chicken and chips? Should have gone here, http://www.chezmacousine.ch/

As a tourist, it was the only place I could find where the prices didn't make me weep

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I went for an interview in Basel about 18 months back and the salary was about that I think. I worked out it was similar to living on about 50K here, with the bonus that any money saved could transfer back to the UK and be worth more. I didn't get the job so the decision was taken out of my hands!

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Maybe you should have asked me, as I live here in Geneva, rent here, pay Swiss tax, pay Swiss rents etc.

I like TMT on many subjects, he's a good guy and contributes a lot to HPC, but on this subject, he talks out of his a4se, my diagnosis was that he was afraid to take the role offered to him for his own personal reasons, which is fair enough, but there's no need to invent others. High Swiss taxes lol. I keep about 70% of my income. High Swiss health insurance I will accept, but you can always accept the high excess contracts if you're a healthy lot.

A healthy single person working as a contractor in Geneva could live well (ski, socialise, holidays etc)and save 8-10k chf per month.

With a family, it's another story.

What would YOU be earning while Mrs earns 120k chf? (which I assume is a permanent role and is quite low, as a contractor you'd expect a lot more).

The permie project managers where I work earn about 140k chf, not sure whether their "13th month" of salary is on top of that or not, they're a bit cagey about it.

The contractors earn between 800 and 1600 chf a day depending on their skillset.

If the only household income would be this 120k chf for 2+2 kids then don't do it.

If you have a skill you can sell to the Swiss, and can get a salary of >6k chf a month take home(not that difficult, checkout girls get 3.5k), then you should go for it.

If you have a skill you can sell to one of the international organisations, even better, you'll then get preferential treatment when looking for a flat.

Edit : If TMT can make (say) 650-700 quid a day (my estimate of what a single person would need to make in the UK to better the Swiss contract) on a 5 year contract in South Wales, and this isn't impossible, I've no idea what his skillset is), then fair enough.

As a family man, that calculation would not be the same btw.

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I'll confirm tax are not that high with two kids (less than 18%? on 120k chf)

Cost of living are extremly high with a familly unless you can go to France.

Me, working in Geneva, living in France with 2 kids.

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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