According to the bank's latest annual report, UBS CEO Sergio Ermotti received total remuneration of CHF14.9 million in 2025, the same as the prior year. The compensation package continues to fuel debate on executive pay within Switzerland's financial sector.
"No increase for Ticino compared to 2024."
CHF 14.9 million. That is the precise price tag for leadership at Switzerlandâs banking titan, UBS. In a revelation that cements his status as one of Europe's most influential bankers, CEO Sergio Ermotti has secured a remuneration package for 2025 that mirrors his massive 2024 payout. While the global economy grapples with volatility, the view from the top of Paradeplatz remains lucrative and steady.
There is no pay cut, but no raise either for the Ticino native. Holding the line at nearly CHF 15 million signals a board that is satisfied with the status quo, yet cautious about inflating the numbers further. In a high-stakes environment where banking stability is paramount, UBS is paying a premium for continuity. This figureâequivalent to approximately $19 millionâplaces Ermotti firmly in the upper echelon of global banking executives, reflecting the immense pressure and responsibility of steering the Swiss financial giant through a complex post-merger landscape.
A staggering CHF 12.1 million of Ermottiâs paycheck is not guaranteedâit has to be earned. The breakdown of the CEO's compensation reveals a dramatic reliance on performance, with the variable component dwarfing the fixed salary of CHF 2.8 million. This is not just a salary; it is a high-stakes wager on the bank's success.
This aggressive 80/20 split between variable and fixed pay underscores the brutal reality of top-tier banking: rewards are astronomical, but they are inextricably tethered to results. The variable pay, comprised of immediate annual bonuses and deferred long-term incentive plans, hinges entirely on company earnings and revenue targets. If the bank thrives, Ermotti thrives. This structure is designed to align the CEOâs personal fortune with the bank's long-term health, theoretically safeguarding against the reckless risk-taking that has historically plagued the sector.
While Ermottiâs pay held steady, the cost of governance at UBS is creeping upward. The bankâs latest annual report exposes a collective remuneration for the Board of Directors that has swelled to CHF 145.3 million, up from CHF 143.6 million the previous year. This increase, though incremental, highlights the growing price of oversight in an era of intense regulatory scrutiny.
Managing a behemoth like UBS requires a board that is not only experienced but well-compensated to retain top international talent. However, as the total bill for the board approaches the CHF 150 million mark, shareholders and analysts alike will be scrutinizing the return on this investment. In the Swiss financial center, where efficiency is a religion, rising overheads at the very top of the corporate ladder rarely go unnoticed.
In Switzerland, eight-figure salaries are never just numbersâthey are political statements. Ermottiâs CHF 14.9 million package is set to reignite the perennial debate over executive compensation in a country that values social cohesion alongside capitalist success. While the banking sector defends these sums as necessary to compete with Wall Street, the optics of such immense wealth accumulation remain a flashpoint.
As UBS continues to dominate the domestic landscape, the gap between the executive floor and the average Swiss worker remains a critical metric for public sentiment. With the 'Abzocker' (rip-off) initiatives of the past still echoing in the political corridors of Bern, UBS must tread carefully. The bank is delivering stability, but as these figures prove, stability comes at a premium price. The question for 2026 remains: will performance continue to justify the payout?