MBA Employment Opportunities in Switzerland

The following article is sponsored by the University of St. Gallen, a leading European business school based in Eastern Switzerland. Check out their international MBA program. 

In October 2012, the Swiss jobless rate was only 2.9% -- the lowest in any European country. That's over half the German unemployment rate, which is currently 6.9%. Unlike most countries, the Swiss economy has gotten through the Great Recession relatively unscathed, without feeling the effects of the credit crunch or the real-estate bubble. Switzerland's low unemployment rate and economic resilience have often been referred to in the press as the "Swiss economic miracle".

 

Switzerland's economic success is evidenced by the strength of certain key economic indicators. Watch exports have increased by 15% this year. The increased demand for luxury cars has resulted in a 15% increase in car sales, despite the fact that car sales in the EU have gone down by 11%

 

Despite the recent press about the low unemployment rate in Switzerland, this isn't a new phenomenon. In fact, Switzerland's unemployment rate has been lower than Germany's for decades.

 

The jobless rate has remained so low mainly because of continual peace, business-friendly legislation, and the economic growth of Switzerland's export partners and successful industries.

Switzerland is the number two country for MBA compensation (after Australia) and Europe's top country for MBA compensation  -- $139,400 (salary plus bonus) -- according to the QS TopMBA.com Jobs & Salary Report. The average Swiss MBA salary is $121,700.

 

There are several reasons why these salaries are so high. First, incomes in Switzerland are higher than average; the Swiss per capita income is $80,000. Other explanations include the strengthening of Swiss currency, and the demand for MBA talent at financial services and multi-national companies.

One of the advantages of working in Switzerland is its diverse job market for MBAs. In addition to the strong financial services industry, a diverse variety of multinational corporations call Switzerland home.

 

While financial service companies continue to dominate the Swiss economic landscape, they also compete with manufacturing companies for the best MBA talent. The high demand for financial services MBAs in Switzerland is part of the reason why Swiss MBA salaries are so high.

 

One of the reasons MBAs have a range of industry choices in Switzerland is due to the growing number of Swiss multinationals. Many multinational companies and hedge funds are moving their headquarters from London and Frankfurt to Switzerland and need to hire MBA talent. The influx of multinational companies in Switzerland has resulted in an increase in the number of job opportunities for MBAs.

 

Swiss companies are also more open to hiring career changers than those in the EU countries. This can be attributed to the fact that Switzerland has the same "easy hire, easy fire" work culture as the United States. Employers in the EU countries, however, usually hire candidates with more experience, because they do not want to risk making a costly hiring mistake.

 

For international MBA students, Switzerland's strong international community and recent changes to Swiss visa laws, help with the post-graduation job hunt. Swtizerland's strong international community and small size make for easier MBA networking. The large number of Swiss multinationals attracts high quality guest speakers to MBA programs. The fact that Switzerland is a small place, relative to big cities like NYC, makes it easier to build relationships with those in the business community.

 

More flexible visa laws have given international MBA students more time to find a job in Switzerland. In 2010, a law was passed that allows international students to stay in Switzerland up to six months after graduation to give them time to search for jobs. In addition, the Swiss business community recognizes that highly-trained international talent is needed in order to grow their economy.

 

This article is sponsored by the University of St. Gallen, a leading European business school based in Eastern Switzerland.