13/06/2026
Avg salary + bonus for a Y1 analyst ⬇️
- Base: ~CHF 110-130k
- Bonus: ~CHF 20–50k
- All-in: ~CHF 130–180k ⠀
More insights below for anyone who opened the caption 💡
A nuance most people miss on the bonus: at junior levels, your bonus depends much more on YOUR individual performance than on the bank's overall year. The baseline within any one bank is fairly stable (but varies across banks) — the differentiator is whether you're top bucket or middle bucket (and, again, at which bank you are. US banks tend to pay slightly more)
That changes the more senior you get. Director / MD comp gets much more variable and much more tied to the bank's P&L and the deals you actually closed. As a junior, you're mostly insulated from that volatility.
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So that's the money. Why I'd still pick Zurich for IB beyond the salary: ⠀
1. Long-term client relationships. The Swiss market is smaller. You build relationships with the same families, founders and corporates over years. The job feels more like advisory and less like a deal factory.
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2. Real sector specialisation. Industrials, financial services, consumer goods, pharma — Switzerland has world-class anchors across all of them. You can find a niche that genuinely fits you and own it for a decade. ⠀
3. Calmer city, still international. Zurich is small enough that you can bike to work, but international enough that English is fine in the large-cap teams (though German is generally still preferred). ⠀
4. Mountains and lakes at the doorstep. Weekend hike, lake swim or ski day — all within 30–60 minutes. Plus you're in the centre of Europe. Spontaneous Friday-night flights to Milan, Paris or Lisbon without spending half your bonus on the flight. ⠀
Comment "STARTER" for my free guide to break into IB.
If you're new here: welcome to Nico Schwarz. I'm a former large cap M&A associate in Zurich. I quit last year, travelled, co-founded a cigar company, taught at two universities, and now help students break into Swiss investment banking via NeverBanked. Links in Bio.
