In the first quarter of 2010, there were approximately 3,508 jobs available in the Swiss financial sector. This represents an increase of 19 percent over the same quarter of 2009. According to the latest report by Finance & Operational Recruitment (FOR), the number of vacancies in the Swiss financial sector has increased since the summer of 2009 by 35 percent.
Based on a total of 1,400 banks, insurance companies, accountants, and other consultants, there are currently 3,508 financial jobs advertised. This is 35 percent more than in June 2009.
Across the banking sector, banks in Switzerland had a total of 1,457 jobs at the end of March 2010. This is 110 percent more than in June 2009.
In insurance, we saw a slight drop. Throughout the insurance industry, including health insurance, in the summer, there were 1,086 insurance jobs open. At the end of March 2010, this was down to 1016. This is a decrease of -6.4 percent.
Across other financial sectors and support industries (accounting, consulting, information technology, etc.) jobs increased from 819 to 1035 (+26.4 percent).
The main reasons for this development are that banks are replacing employees who were originally cut off when they had to cut costs – over the past two years. For many insurers, the cost reduction continues. In addition, mounting regulatory pressure has made additional experts required.
The report used an indicator showing the development of online vacancies in Switzerland in the financial sector in Switzerland and Liechtenstein. The index is produced quarterly by the Swiss financial portal finews.ch with data from JobDirectory.ch.
Focus on banking jobs in Switzerland:
Most of the banking jobs introduced in late March 2010, Credit Suisse, with 395, followed by UBS with 336. While at Credit Suisse, demand last year grew more steadily and rose sharply from 2010, at UBS as early as October 2009 there was a significant increase that lasted until February 2010.
Foreign banks are being recruited
Besides, foreign banks in Switzerland are recruiting banking jobs. This increase reflects a high employee turnover, but also the fact that many organizations view the adjustment in private banking services as an opportunity to hire good people.
Swiss Banking looks to the client:
Almost two-thirds of banking vacancies in Switzerland are for professionals and executives. Only ten percent of the jobs are for staff at the clerk or assistant level.
The greatest demand for workers is on the customer front. The most common banking job available is for account managers in the retail trade and SMEs, followed by investment advisors in the so-called high-net-worth (average retail sector).
Relatively speaking, the number of classic private bankers serving wealthy clients has increased the most. Since the summer of 2009, the number of private banking jobs on offer has increased from 19 to 45, which is an increase of 140 percent.
Overall – Good Employment Growth:
In the first quarter of 2010, there were approximately 3,508 jobs available in the Swiss financial sector. This represents an increase of 19 percent over the same quarter.