Rich people in Zürich

22POSTS

13 years ago

Hi guys,
It is very usual to see young people in luxury cars in Zürich (Lamborghini, Ferrari...). I wonder which jobs they have exactly that enable them to get such luxury goods.

I believe they work in banking field like e.g. Trader or other. Any clue of which kind of jobs such people in Zürich have? And how they are paid for it?

(Btw, you can show off even without having a lot of money in the bank...).

See you
D2B

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SammyDee Member

24POSTS

13 years ago

Yeh banks used to pay really REALLY well. But the wages dropped a bit lately and will keep dropping in that industry. Don't get me wrong, they still get decent wages, but not comparable to what they were used to earn.

Commodity traders also make good money, and you obviously have the lawyers and doctors.

Duc de Bourgogne Member

22POSTS

13 years ago

Hi SammyDee,

Thanks for your reply.
I got few numbers on the web confirming what you argue:

Assistant Trader Commodities: Salary CHF54'816-193'916, Bonus CHF2'013-223'491
Trader, commodities: Salary CHF53'490-220'000, Bonus up to CHF986'326 (

)
Business Analyst, Finance: Salary CHF47'805-138'125, Bonus up to CHF20'482
Swiss private bankers: CHF245'000 av.
(Sources:http://www.payscale.com/index/CH/Job)

The following article also shows that golden age looks to be away for bankers: bloomberg.com/news/2011-12-21/swiss-bankers-millionaire-dreams-fade-as-assets-margins-drop.html
Damn... does it mean we will no longer see Lamborghinis in Zurich ?

Don't think so (btw Zürich without luxury cars... would not be Zürich...).

Ok guys, then the next question for me is: how to become Commodities trader (=jackpot)? I just picked this on the web:
"The right personal characteristics and the desire to make money from deals are considered more important attributes than academic qualifications" That sounds good to me as I have absolutely any diploma in finance

Of course I am kidding, I believe you must have minimum background in economics/banking. I will investigate it further in the next days.

CU
D2B

SammyDee Member

24POSTS

13 years ago

"does it mean we will no longer see Lamborghinis in Zurich ? sad Don't think so (btw Zürich without luxury cars... would not be Zürich...)."

Well, that's the point, there will be less Lamborghinis and Zürich in 10 years won't be the one we know today. Same for Geneva. As a result, the average wage will also go down as banks' health have an impact on the country's economics.

If you want to work in commodities, you should better move to Geneva, however be warned that a lot of people want to work in that area now, so pretty tough to enter without any prior experience at least in finance.