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In Switzerland people don’t talk about wages. However, the Federal Statistical Office has shed some light on this taboo subject. A new report took a closer look at the salaries of Swiss residents. Main statement: The average salary of employees in 100 percent positions in 2022 was 6,788 francs gross per month. Half the population earned more, while the other half earned less.
As a result, after all legally required wage deductions, the average earner is left with around 6,000 francs per month. So how nice is it to live in Switzerland? So what will be left at the end of the month? Blick looked into this issue with the support of the non-profit organization Budgetberatung Schweiz. And he draws comparisons with a person whose highest monthly salary is 8,000 francs. And a low-income person with a monthly net wage of 4,000 francs.
Budgetberatung Schweiz has published budget examples on its website. These add up to a net income of 7,000 francs per month. “With higher wages, individual expenses also increase,” says managing director Philipp Frei (39). And he adds: “For high earners, it is not always better to sustainably manage one’s own finances.” Many Swiss people have little idea about how they spend their money.
That’s why Blick is helping now. The table below shows an example of recommended budget positions for a low-income person (4,000 francs), an average citizen (6,000 francs) and a high-income person (8,000 francs):
At first glance, it seems that as a result, a decent amount remains, especially for middle-income earners and high salaries, but: The item “freely available amount” includes, among other things, expenses for your own car, mobile phone. or vacation.
For people on low incomes, this means that with 4,000 francs a month, it is almost impossible to make provisions for unknown expenses. The remaining 500 francs are not enough. From Frei’s point of view, the provisions will be central: “The financial budget should never be used to its full potential. It is important to create reserves if possible.”
Frei therefore concludes: “For a modest but carefree life you need a net monthly salary of 5,000 to 5,500 francs. Below this it is practically impossible to make special provisions for old age.”
But for high-income earners, the situation looks pretty rosy. In proportion to their own salary, such a person has twice as much money for leisure activities or saving money as a low-income person; this rate is around 25 percent compared to 12.5 percent. Due to the higher standard of living, a certain amount of luxury is already priced into the individual budget items of high-income Swiss, such as spending on clothing or souvenirs.
The following applies to the average citizen with an average salary: He needs to budget in a sustainable way, otherwise he too may experience financial problems. “The number of Swiss people struggling with money has increased in recent years. More and more people are contacting us who didn’t need it before,” says Frei.
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.
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