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Recently, a Swiss company wanted to hire an IT network administrator. A university degree was required and the salary range offered was 60,000 to 85,000 francs. The company bit the stones.
“We have no chance,” says Jean-Philippe Spinas, 54, Executive Search Director at Kienbaum in Zurich. The minimum salary for this profile is 85,000 francs, the expert says. For him, the situation is clear: the company needs to improve the wages offered. Or he won’t be able to fill the position.
IT salary gold mine
Wages in the IT sector are currently through the roof. IT is “business critical” and not a single industry can do without IT systems. IT training is long but the topic is dry. There are great salaries after graduation.
Spinas recently came in contact with a 56-year-old who lost his job at the age of 52 and then pursued a master’s degree in data science at ETH. Today’s salary: 250,000 francs. He turns down Spinas because he gets better offers from headhunters almost every week.
Or there’s the case of a young project manager whose employer dictates his salary in the mid-six figures. Knowing that the knowledge he possesses is indispensable or can only be obtained externally in a more expensive way. “In this case, the employee’s demands often exceeded the salary ranges determined by his age,” says Spinas.
The company responded and revised its offer to hire the expert it needed. “Not all companies do this, but outdated wage structures are increasingly collapsing because they are no longer marketable,” says Spinas.
160,000 francs per year
This leads to strange situations. “Employees sometimes earn more than their bosses,” says Spinas. He has an example of this. Hiring not from IT, but from another “hot industry”. Many companies today rely on in-house “recruiters.” The knowledge required for this is rewarded with high wages.
Spinas knows a woman who previously worked in the same position at an American technology company and is now hired as a “Talent Acquisition Manager” at a large Swiss company. Wages at the new workplace: 160,000 francs per year. This is way more than his own boss, the Head of Human Resources, deserves. The CEO takes on the resulting need for internal disclosure.
Good wages in jobs that are said to be unattractive
High specialization brings with it high wages. Spinas knows of a call center worker at a British travel company who earns more than the CEO. This is thanks to unlimited bonuses on sales made. The employee was so good that he was able to take advantage of this system; The company liked this.
According to Spinas, many companies will have to address the wage issue to combat the skills shortage. However, this only applies to “core” positions. “In Switzerland, wages of between 6,000 and 8,000 francs are sometimes expected for reception jobs that do not provide much added value; this will soon disappear,” Spinas believes.
With exceptions: Financial institutions, insurers, law firms, and consulting firms still pay above-average wages, even at the entry level. Often there is little satisfying work to be done. But above all, it distorts the market. Low-margin companies fail to survive and potential employees leave the market.
“The most satisfying part of the job comes after the salary,” says Spinas dryly, commenting on the fact that today’s young people pursue ideals primarily in their professional lives. But he notes that there is a deep desire to accept so-called “unattractive” positions.
Places that require a lot of flexibility in time and space, require a lot of pressure to make a sale, or where you’ll get your hands dirty. Anyone who offers such positions and cannot pay a good salary will not be able to solve the personnel problem.
Spinas concludes: “Things clearly need to improve in many areas, especially at the wage level.”
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
