Top executives in Switzerland earn 143 times more than employees

Trade union Unia denounces major wage gaps Keystone-SDA

Last year, senior executives of large Swiss companies earned 143 times more than their lower-paid employees. According to a study by the trade union Unia, the gap has narrowed slightly compared to recent years.

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In 2023, the gap between the highest and lowest wages was actually 1:150, the trade union organisation announced on Monday. Some companies with a large number of wage earners have reduced this gap.

According to the study, wage gaps widen where executive salaries are particularly important. Novartis CEO Vasant Narasimhan, for example, earned CHF19.2 million ($24.1 million), or 333 times more than his lowest-paid colleague.

Similar examples can be found with Partners Group, with a spread of 1:328, and with the pharmaceutical group Galderma, with a spread of 1:298. UBS ranks fourth, with a gap of 1:276.

By contrast, the lowest wage gap was recorded at Coop and SBB, with a gap of 1:11.

The companies then paid out a total of CHF46 billion in dividends, also accompanied by share buybacks. A fact that shows that companies have enough money available to raise the lowest wages, Unia emphasises.

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Translated from Italian by DeepL/jdp

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