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Job vacancies double in financial sector

At the end of September, 4,197 jobs were advertised on the websites of 1,400 Swiss banks, insurance companies and financial consultants, a study reveals.

This is 56 per cent more than a year ago, according to quarterly figures released on Monday by online Swiss sites and

Banks had 1,808 vacancies, compared with 893 at the end of September 2009. The employers with the most spots to be filled were UBS, with 574, and Credit Suisse, with 335.

One noticeable trend is the increased number of jobs being advertised by private and foreign banks. A year ago private banks had 80 vacancies – at the end of September it was 228, a rise of 126 per cent. With foreign banks the increase was 167 per cent to 219.

There were also more job vacancies in the insurance sector, but increases were less spectacular.

The only dampener for the financial sector in Switzerland is that Swiss hirers are calming down: looking at the third quarter on its own, vacancy figures are up a mere 3.75 per cent; in the second quarter they were up 15 per cent.

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR