Working in Switzerland for Non EU
Hi, guys! I am a Brazilian woman and I work as Fixed Income Macro Sales in one of the biggest American banks. Currently 2nd year analyst, and already have 4 years in this exact field in big international banks (1.5y as intern, 1y as graduate analyst, and 1.5y as analyst). My main professional and life objective is to move to Switzerland. I studied there in my exchange program at Uni of St Gallen and I fell in love for the country and the culture. This is NOT about money, because at the moment I already have a high living standard (Brazil is poor and being on a top bank is really a big thing), but about fitting in and feeling well on your surroundings. I am studying German (super slowly, there is not much time left in my schedule), and I have French B2 (arguably B1), however I think my bank is not a fan of sponsorships and I do not have a master degree yet. Do you think there is a chance of landing in a job without being European and having super basic German / intermediate French or I should really try a master? This requisite of only "essential workers" for foreigners is a pain to understand the big picture for my choices here.
Based on the WSO threads discussing international careers, particularly in Switzerland, here are some key points to consider for your situation:
Language Proficiency: While English is widely used in the Swiss business environment, especially in multinational corporations and financial sectors, proficiency in local languages (German, French, Italian) can be a significant advantage. Your current level of French and ongoing German studies are beneficial, but aiming for higher proficiency could enhance your job prospects.
Work Permit and Sponsorship: Switzerland has strict regulations regarding work permits, especially for non-EU nationals. Companies generally need to prove that a job cannot be filled by a Swiss or EU citizen before sponsoring a non-EU applicant. This can make the process challenging without high specialization or essential skills.
Educational Qualifications: Pursuing a master's degree, especially from a Swiss institution like the University of St. Gallen, could not only improve your educational credentials but also provide networking opportunities and a pathway to integrate more smoothly into the Swiss job market. It might also ease the work permit process as graduates from Swiss universities often have a simpler path to employment.
Networking and Internal Transfer: Since you are already working in a major American bank, exploring opportunities for internal transfer could be a viable option. Many large banks have offices in Switzerland, and an internal move could potentially bypass some of the sponsorship and work permit hurdles.
Professional Networking: Engage with professional networks and forums, such as LinkedIn and local expat communities in Switzerland. Networking can often lead to opportunities that are not advertised publicly and might provide insights or openings into the Swiss job market.
Given these points, pursuing a master's degree could be a strategic move, not only for the academic and professional enhancement but also for easing the transition into the Swiss job market. Additionally, continue to improve your language skills and explore internal transfer options within your current organization.
Sources: Is target MSc Finance still possible in my situation? (Bocconi, HEC, LSE, HSG....), Recruiting in Zürich/ Geneva vs London, Should I apply to Germany as well?, Do I have any chance to secure a grad scheme (Asset/Portfolio Management), MSF Class of 2018
In the end a company will sponsor you if they think it pays off to go though the hassle of proving that you are "essential worker" to the Swiss government. The number of permits is limited, so you will be fighting against quite some talent.
I don't exactly know what you do in FI Macro Sales, but I believe you need more experience (years) and you will ideally have in-depth knowledge of products that no or very few people in Switzerland/EU have. If you are simply selling G10 Fixed Income products, I don't see why a bank would sponsor you. If you are selling LATAM specific products and have specific know-how in that area and/or a large client base there, I think your chances are better.
From my experience the people who get sponsored in finance in Switzerland either are very good specialists in a certain area and thus have a specific knowledge/very good track record (think trader for hedge fund/commodity house or for example legal know-how for cross-border deals/clients). The others tend to come for sales positions and are generally hired because they bring a large network and have language know-how (for example Chinese or Russian relationship managers working in wealth management with UHNW Chinese/Russians clients). So in other words I would try and build a profile that makes you unique in Switzerland.
Speaking the local languages in Switzerland always helps. Given that LATAM business is done more in Geneva, I would say that French is more important than German right now for you. Doing a master degree will definitely help, but I would not overrate it.
Thank you so much for your response! Your insights are appreciated. I've been reflecting on pursuing a Master's degree vs continuing with my current job for a few more years. Currently, I handle all the types of fixed income derivatives products for institutional investors, from credit, currencies, rates to commodities. We do a lot of LATAM products, but my clients are sophisticated and focus even more on EMEA, NJA, and G10 regions, if opportunities are there. While my client base is significant, they are all Brazilian, and the job core might not align well with a wealth management role (Swiss focus, it’s been hard to see positions outside of this scope). Additionally, I worry that pursuing a Master's degree could potentially slow down my career progression by about 3 years, considering the length of it and my initial analyst years. It's a tough tradeoff, especially since I anticipate reaching an associate level by beginning of 2026.
This is incorrect. Switzerland is a very small place with very few fixed income sales roles available, even more so after the CS takeover. No company is going to sponsor your visa for a sales role, the banks have to prove to the government that they couldn’t have hired a swiss national or work permit holder before looking to sponsor someone, they just will not do this. This is reserved for people working at like CERN etc
It is true that Switzerland is a small place with few fixed income sales roles, however there are people working in wealth management who have been sponsored for certain roles. Yes, their function is not exactly FI Sales, but they have some asset class specific know how, enough experience (10+ year) and/or a network. Yes, you are right, it is tough right now due to CS takeover, but it has happened in the past (source: walk through UBS/CS WM floor).
And I would also add that sponsorship is not only for rocket science top shots going to CERN. A fair share are for private sector individuals...
Zurich & Zug are full of Brazilian women who suckered some poor Buenzli into marrying them and bringing them back to Switzerland. It's the fastest way to a c-permit/little red book if you ask me!
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