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The Executive School of the University of St.Gallen

Insights and observations on management and executive education from our directors and faculty.

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Prof. Winfried Ruigrok

Swiss voters against curbing executive pay excesses via state-imposed caps

This year, Switzerland has already voted twice on pay-related referenda (1:12 Initiative, Minder Initiative). Over the next years, two more will follow. A key background is that Swiss executive pay levels are higher than in most other European countries. What explains this higher pay in Switzerland?

First, executive pay is directly related to firm size. Firm size […]