In the City a typical senior banker can expect a remuneration package of £825,000 – a take-home salary of £422,970. This compares to typical pay of just £383,000 in Geneva – a take home of £226,100 says recruiter Selby Jennings.

Adam Buck, managing director at Selby Jennings, told CityAM: “Geneva and Zurich are relatively small financial centres compared to London. In reality there are relatively few senior banking roles in Switzerland paying over £150,000. London and New York are the only markets large enough to offer those roles in any significant quantity.”

So sit tight and absorb the taxes. Or get down to your accountant asap.