Female bank employees in Switzerland earn on average 24% less than men, a new survey has revealed. The gender wage gap has widened in the banking sector over the past two years.
An anonymous survey by the Association of Swiss Banking Employees (SBPV/ASEB), published on Tuesdayexternal link, revealed a 23.6% difference between men’s and women’s salaries in the Swiss banking sector in 2019. The association's previous survey in 2017 showed a 21.7% gender pay gap.
These compare with an average 14.6% gender wage disparity across all professions, according to the Federal Statistical Office.
On average, men’s fixed salaries in the Swiss banking sector were 22.2% higher than women’s (20.7% in 2017), while bonuses were 36% higher (30.8% in 2017), the survey of 4,700 employees found.
The banking association said disparities accelerated with age. For staff aged 20-29, men earned CHF2,050 ($2,065) a year more than women (fixed salaries), while for the 50-59 age group, the salary gap rose to CHF31,284.
Some men who had worked for the same bank over 20 years received bonuses which were 40% higher than those handed out to female colleagues.
The survey also revealed that the gross median salary in the banking sector had increased by CHF3,000 since 2017 to CHF105,000.