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Switzerland – Banking and Accounting professionals in high demand

29 May 2015

In Switzerland, the number of job vacancies fell slightly between April and May 2015 (-1.8%), according to Michael Page’s Swiss Job Index (SJI).

However, the situation varies between regions as the difference between the number of vacancies in the German-speaking and the French-speaking Cantons of Switzerland is growing: vacancies fell by -5% in western Switzerland while an increase of 1% was observed in German-speaking Switzerland in May 2015, when compared to May 2014.

The difference between Zurich and Geneva in terms of vacancies is particularly striking: if vacancies are up by 4% in the Canton of Zurich, there is a massive reduction of -17% in the Canton of Geneva.

In the industrial regions of northern Switzerland (AG, BL, BS), the number of vacancies has decreased by -7% on a year-on-year basis and by -4% between April and May 2015.

The Banking sector is a major driver of growth in the Swiss job market, as the number of vacancies increased by +3% in May 2015, compared with the same month last year. Furthermore, vacancies in Financial services increased by +4% between April and May 2015. The sales sector is also improving strongly: by + 5% on a year-on-year basis and +1% between April and May 2015.

Between April and May 2015, the following sectors have the highest rates of jobs growth:

  • The real estate sector posted a growth of +8%.
  • Vacancies in the banking sector increased by +6%, with a particularly sharp increase in the area of ​​private banking (+9%).
  • Vacancies for accounting, finance and taxation experts were up + 4%, while vacancies for accounting professionals in particular increased by +7%.
  • Vacancies for research scientists increased by +8%.

Charles Franier, Executive Director at Michael Page, said: "Zurich - and not Geneva - is increasingly the first choice for international companies in terms of location. This contributes to the widening gap between the number of vacancies in the two cantons. SMEs that, following the decision of the Swiss National Bank in ​​January 2015, adopted a cautious approach in their recruitment policy and react by reducing the number of benefit advertised posts. Compared with Zurich, Geneva is impacted disproportionately by bank restructuring and consolidation measures. However, it is encouraging to note that at present, employers recruit primarily in the areas that likely contribute to the growth of the company (as the area of ​​sales, for example) and allow to derive maximum benefit from the assets now (hence the high demand for accountants and tax advisors). "