From its opulent palaces to its mountainside villas, it's pretty clear that Switzerland is and has always been a wealthy country. There's no way the country can maintain all of its nostalgic charms, luxury conglomerates, and top tourist destinations if it wasn't well-off. Not to mention the fact that many of its most famous cities, from Zurich to Geneva, are also known to be highly expensive. So what has helped Switzerland maintain this sort of wealth all these years? Its stable job market! Here are some of what you ought to know about the Swiss job market.
The Unemployment Rate of Switzerland Today
According to Economy.com
, Switzerland's unemployment rate reached a new low at 3.1% just last May 2021. And this came during the pandemic when the country's travel restrictions
were still in place. This only goes to show that the Swiss really know how to stabilize and handle their job market even during a global pandemic. Even back in 2020, during the height of the pandemic, the country's unemployment rate never reached double-digits. This is a good sign for those who are planning to move and work here. With very few unemployed, this proves that there are still a lot of job opportunities available here.
Switzerland's Most Popular Job Sectors
With that said, what exactly are Switzerland's most popular job sectors? Clearly, tourism is one of them. With popular destinations such as Zurich, Geneva, and even the Swiss Alps, there are countless job opportunities in this industry. Another that the Swiss have become known for is the luxury retail industry, particularly with watch-making. With many of the world's most famous and most luxurious watch brands coming from Switzerland, it's only natural that working in this field would be a fruitful endeavor. Of course, there are also the country's well-known multinational corporations such as Nestlé
, among many others.
Job Vacancies in Switzerland
Do note that just because a sector is big and fruitful in Switzerland, it doesn't necessarily mean they have the most number of job vacancies. In fact, according to Prospects UK, the most popular jobs among new graduates include those in finance, insurance, engineering, IT, and pharmaceuticals. Since cities like Geneva and Zurich are well-known international finance hubs, it's no surprise that finance and banking opportunities are abundant here. As for IT and engineering, the fact that the country is in need of more workers in these files suggests that it's ready to advance into newer and possibly more digital territories. And for insurance and pharmaceuticals, it's likely that the recent global pandemic resulted in their surge of job opportunities as well.
Teaching English in Switzerland
You'd think that, as Swiss cities become more and more international, English teachers would be in demand here, right? While such is the case in other countries, it's less so here in Switzerland. Starting at a very early age, the Swiss are taught a number of languages included in the country's educational system. English is, of course, one of them. So for foreigners who want to work in Switzerland in order to move here, going for the easy English teacher position is more competitive than you might think. And if you do still pursue it, know that the country will require the right credentials and degrees from you.
Switzerland's Common Salaries
Now, let's talk salaries! Despite not having an official minimum wage, Switzerland still has the highest salaries among the EU/EFTA countries. Though it helps that employment contracts can (and often) have clauses wherein minimum compensation is set. Usually, it'd be around CHF 2,200.00 – CHF 4,200.00 per month for unskilled workers and CHF 2,800.00 – CHF 5,300.00 for skilled workers. Do note, however, that just like with the country's tax system
, the bar can vary from Canton to Canton. Nevertheless, the fact that salaries here are among the highest in the region speaks volumes on the current state of the job market.
Work Culture in Switzerland
In terms of work culture in Switzerland, this can vary depending on the region you're in. For instance, companies operating in the French and Italian areas of the country are often more laid-back while those in the German regions tend to have more rigid systems. Overall, however, the Swiss work culture is generally formal and conservative. The majority of businesses here follow a strict hierarchal system, giving more power to superiors and encouraging subordinates to reach for the top. Punctuality and precision are most required when it comes to business meetings, projects, and other ventures. And as for the working hours, it's around 45 to 50 per week.
Among all the job markets in the world, it's safe to say that Switzerland's is one of the most stable, strongest, and best. From its low unemployment rate to a myriad of job opportunities across a variety of sectors, working in this country will be a fruitful endeavor!
Once you understand Switzerland's job market better and you've gotten a job here, it'll be easier to do all sorts of things in the country, such as getting a luxury home