News · 19 October 2026
Global Financial Centres Index 2026: Zurich in the top 10
The September 2026 index moved Zurich into the top 10 and Geneva up to 12th. It ranks cities, not schools. Here's what it measures, what it leaves out, and what it means if you're thinking of a finance master's in Zurich.
Zurich ranks 10th of 117 financial centres in the Global Financial Centres Index of September 2026, the 40th edition, released by Z/Yen on 16 September 2026.[1] It moved up one place, replacing San Francisco in the top 10, and its rating rose 11 points to 749.[2] Geneva climbed six places to 12th, and Lugano four places to 21st.[2]
If you're weighing a finance master's in Zurich, look closer. The index scores the city as a place to do financial business. It doesn't rank universities or business schools, ours included.
Who leads the Global Financial Centres Index 2026?
New York stays first, four rating points clear of London; Hong Kong and Singapore sit one and two points behind London.[1][2] Here's the top of the table, with the two other Swiss centres:[2]
| Rank | Centre | Rating | Change in rank |
|---|---|---|---|
| 1 | New York | 761 | no change |
| 2 | London | 757 | no change |
| 3 | Hong Kong | 756 | no change |
| 4 | Singapore | 755 | no change |
| 5 | Shanghai | 754 | up 1 |
| 6 | Tokyo | 753 | up 4 |
| 7 | Seoul | 752 | up 1 |
| 8 | Shenzhen | 751 | up 1 |
| 9 | Dubai | 750 | down 2 |
| 10 | Zurich | 749 | up 1 |
| 11 | San Francisco | 748 | down 6 |
| 12 | Geneva | 747 | up 6 |
| 21 | Lugano | 738 | up 4 |
In Western Europe, only London ranks above Zurich.[2] The region now has four centres in the world top 20, down from seven last time: London, Zurich, Geneva and Luxembourg.[2] Paris, Amsterdam and Frankfurt dropped out; Frankfurt fell 14 places to 29th.[1][2]
What does the index measure?
Each rating mixes two kinds of evidence. One is 144 instrumental factors: hard data from third parties such as the World Bank, the OECD and the UN.[2] The other is 39,531 assessments of financial centres by 6,147 people who answered the index's online questionnaire.[2] To prevent home bias, the scores respondents give their own home centre don't count.[2] Z/Yen produces the index with the China Development Institute in Shenzhen and updates it every March and September.[2]
So part of Zurich's 749 is a view from outside: how finance professionals in other cities see it. That's real information, but it's also a perception, and perceptions move. Most centres' ratings rose this time, the average by 0.8%, so watch the rank as well as the score.[2]
Where is Zurich strongest?
Z/Yen also runs its model separately for five areas of competitiveness, and builds its sector rankings only from people who work in each sector. Each list shows the top 15.[2] Here's where Zurich places in all five areas and in four of the six sector rankings where it makes the top 15:[2]
| Ranking | Zurich's place |
|---|---|
| Area: Human Capital | 5th |
| Area: Financial Sector Development | 10th |
| Area: Reputational & General | 13th |
| Area: Business Environment | 14th |
| Area: Infrastructure | not in the top 15 |
| Sector: Professional Services | 4th |
| Sector: Banking | 6th |
| Sector: Investment Management | 6th |
| Sector: FinTech | 8th |
Human Capital is the line that matters most to you. It covers the availability of skilled personnel, a flexible labour market, education and development, and quality of life.[2] Fifth place means the index rates Zurich highly on its people. That cuts both ways, though. A city known for its talent is one where you'll compete with that talent for every role.
Does a top-10 place mean more banking jobs?
Not by itself. Banks in Switzerland employed 92,002 full-time equivalents at the end of 2025, down 2,345 in a year, or 2.5%.[3] Leave out the large bank, though, and every other banking category grew its staff.[3] Headcount fell again in the first half of 2026, mainly through fewer staff outside Switzerland.[3] For the rest of 2026, just under 60% of the experts the Swiss Bankers Association surveyed expect headcount to hold steady, and around a third expect it to rise.[3]
Income still grew. The sector's combined net income rose 5.8% in 2025 to a record 73.8 billion francs.[3] A strong year for the banks and a shrinking headcount can sit side by side. Plan your first role with both in mind.
What does this mean for a finance master's in Zurich?
The ranking won't choose a programme for you, but it does show where the industry's attention is. The questionnaire asked which policy areas financial centres should put first over the next five years. The answers that came up most were digital infrastructure and cyber resilience, attracting fintech and digital-asset businesses, stronger frameworks against money laundering and financial crime, and deeper capital markets.[2]
Two module titles in our MSc Business, Banking and Finance point the same way: Banking Operations and International Regulation, and Corporate Finance, Valuation and FinTech.[4] In the first semester they sit beside Advanced Accounting and Financial Markets and Trading Strategy.[4] We teach it on our Zurich campus over 12 months: six months of study on campus, then six months off campus on an independent research project.[4] An internship is optional and possible, in Switzerland or worldwide.[4]
To get in, you need a recognised bachelor's degree in any discipline and English at IELTS 6.0 or equivalent (B2).[4] BHMS and Robert Gordon University in Aberdeen, Scotland, both award the MSc, so you graduate with two degrees.[4] You can start in November 2026, February 2027 or August 2027.[4]
A top-10 rating is a good reason to look at Zurich. It isn't a job offer, and it isn't a reason to pick a school. That choice comes down to your degree, your budget and the work you want afterwards.
Next step: read the modules and intakes on the MSc Business, Banking and Finance page, then check the full cost of the year, including the Zurich accommodation options, on our fees page.