Due to polls on March 3, 2013, Switzerland voted in some of the toughest executive pay rules in the entire world.

The new rules allow shareholders at Swiss-listed companies a binding vote each year on the total compensation of boards of directors and senior management, as well as a total ban on "golden parachutes" and executives being paid compensation in advance. Managers who flout the rules will face prison.

Switzerland employs a type of direct democracy in its government, which allows for votes like the referendum. The official results from Geneva show 68% in favour of the law. While Switzerland is a relatively wealthy country with strong ties to the banking industry, there has been something of an egalitarian revolt in recent years. One controversy in 2013 surrounded Daniel Vasella, a departing chairman at Swiss drug company Novartis, who was forced out of his $78 million "golden handcuff" arrangement after a huge public outcry.