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I don't think it is only because the financial sector pays more than average. They don't reach the pay level of FAANG companies having their R&D in Switzerland. Also be assured that this level is only reached in Zurich.

And there, after rent and utilities, I do not think is much difference.

Switzerland has high salaries because of the high cost of living. I would like to see aap adjusted by cost of living.

yes, definitely needs to be adjusted for COE.

>high salaries because of the high cost of living

high salaries will cause high cost of living more than high cost of living will require high salaries (because those jobs could just move away (except for those jobs that can't move away because they are needed to support industries with high pay))

I think the Icelandic data is a bit skewed upwards. It’s showing senior and principal level salaries in large companies, most “normal” devs earn maybe 70% of that.