According to calculations by the Federal Statistical Office (FSO), nominal wages rose by an average of 1.8% in 2024, as was reported in a press release on Tuesday. In the last estimate in late autumn, an increase of 1.5% had been forecast.
The FSO estimates nominal wage growth on a quarterly basis. The value is based on cumulative wage data on the development of gross wages including the 13th month’s salary and may change with each subsequent estimate.
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What is a good average salary in Switzerland?
If you are a male banker, a Swiss diplomat or a foreign CEO in Switzerland, chances are you are living quite comfortably.
Some of the wage increases have been eaten up by inflation. However, taking into account average annual inflation of 1.1%, real wages still rose by 0.7% on average, according to the FSO.
According to the FSO, wages rose by 1.7% in nominal terms in 2023, but fell by 0.4% in real terms. At that time, inflation of 2.1% had led to the decline.
Adapted from German by DeepL/jdp
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