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Unequal wages Gender pay gap widens in Swiss banking sector

Employees of the branch of the Raiffeisen bank in Appenzell in eastern Switzerland.

Employees of the branch of the Raiffeisen bank in Appenzell in eastern Switzerland.

(Keystone / Martin Ruetschi)

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. 

Keystone-SDA/sb

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