Expat Community > Germany

kingdeath2010
Joined 2010
Posts: 2

Salary - moving to Munich from Zurich

14 years ago

Hi there folks!
I hope you're all doing well and having a great time!

Right now, I'm spending a fair amount of my spare time evaluating a job offer I received from a global, multi-national financial services company (over 100,000 employees). For me the tricky part is to form a precise estimate of the appropriate salary level for my role in Munich since I am moving from Zurich, Switzerland to Munich.

My current role is actuarial in nature (most general description of this role would be quantitative risk analysis for insurance) but I am not a certified actuary nor have I passed any exams. A lot of my work involves specialised risk modelling. I'm just getting a little bit detailed here in case someone on this board is familiar with actuarial work.
I work in a large, global insurance company in Zurich and earn around CHF 110,000 (gross excluding bonus). Tax rate on Gross Income (not "taxable" income) is around 15%. Including social security, pension plan contributions and privately purchased basic health insurance the overall outgo compared to the gross excluding bonus is around 25%. I end up with a monthly disposable income of approximately CHF 7,163 (EUR 5,500).
My work experience is 9+ years (all relevant but only 6 years of exact relevance). The offer is for a supervisory position. I am currently an individual contributor.
I am single but might not be for very long, so it is best to provide your opinion assuming I have a 3-member family.

The offer I have received is approximately EUR 83,000 (gross exlcuding bonus) for a position equivalent to an Actuarial Team Leader or Risk Management Team Leader / Supervisor. Is this a good offer in your opinion? Please assume that I will have a 3-member family.

Looking forward to your opinion. Please ask if you have any questions, I really want to be careful taking this decision.

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Expat Community > Germany

Salary - moving to Munich from Zurich

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