Switzerland’s income gap widens: top earners far surpass the middle class

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Despite fears of exploding rents and other living expenses, the real wages of Swiss workers are good – at least in the long run. Since 1990, the inflation-adjusted income of Swiss people has increased across all income brackets.

three million francs salary

This is demonstrated by an assessment by the Federal Social Insurance Agency (BSV) for “NZZ”. Swiss salaries are usually collected every two years by the Federal Statistical Office (FSO). The trick: Data on the highest percentage of income is difficult to obtain, especially in the private sector.

BSV data relates to all fees subject to AHV; also those of the 535 employees who earned more than three million francs in 2021. They are the ones that have increased their income the most since 1990. During this period, the highest 0.1 per thousand, or 516 employees, according to “NZZ,” increased their real wages by 160 percent.

Wage inequality is on the rise

It looks similarly rosy for the top thousandths (a 95.1 percent increase) and the top one percent (a 45.2 percent increase) – a nuisance for the mill of politicians who fear the Americanization of the working world with exorbitant bonuses and executive salaries.

Compared with top-earning workers, the middle class has benefited only limitedly from rising wage levels over the past 30 years. The median wage, which was 61,695 francs in 2021, has increased 19.3 percent since 1990.

However, “NZZ” observed a change in trend. Median wage growth has accelerated since 2010. The reverse is true for the top 2 percent. Still: Percentage growth continues to be higher for top earners. (ste)

Source :Blick