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May 31, 2024
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Are you going to ask about Investment Banking in every single region in Europe?
I just want to make comparisons between different regions for IB. I wish WSO would have done this in detail so I did not have to create a post on every region in Europe. They have actually made a post for every region but it ain't that insightful for example this https://www.wallstreetoasis.com/company/top-banks/ital. They have just listed names and nothing else is useful in those posts.
You didn’t have to make a post for every region
Bump
Don’t do IB in Italy lol, shit pay, bad hours, high taxes, etc
Did you do IB in Italy? With long hours, they also pay reasonably well depending obviously on where you work and then there is this law called rientro di cervelli
BBs in Milan pay €85k base on average lol, it’s about 4k net which much lower cost of living then in London
lazard for example I know pays A1 60k base + 60k stub bonus. You live like a king with that money as a 24y in Milan. Weekends skiing and going to the beach, a drive and you’re in Tuscany sipping wine
here in london the most I can do is go get depressed in Brighton or eat out
THIS
Do you have any insights to share on the work culture? Which bank has the best culture? Working hours do not matter
Ooofa! Madone a mia with the questions already!!! Quit breakin' my bawls kid, here's a couple 'ah 'tree dollas. Go gets yaself a soda and a calzone kid.
Your brotha Billy, whateva happened der..
Top shops are Laz, Roth, Mediobanca, BofA and JPM. Base salaries for AN1 are around 80-95k, with boutiques having higher bonus % but lower base. CoL is much lower than London these days but part of that comes at a cost of lower exit opps and worse hours at junior level. Best place to be in case you can benefit from the “rientro dei cervelli” law
Yeah, I heard about that law but do you have any idea if that applies to non-Italian citizens too? For example, people with long-term residence permits.
Should only apply to Italians
I worked in Milan in one of these shops. Agree with everything. Great learning opportunity but bad hours… on average way worse than London (and I now work in a BB in London)
Did you work at EB or BB? How are the hours? Is it like till 3 am or something?
You’re gonna come to an empty office cause all the Italians are in London
Hey! While I don't have personal experience, I can share some insights on IBD in Italy.
The top banks in the region are generally similar to the global BBs you mentioned like JPM, GS, and MS. They do have a significant presence and are involved in major deals. Additionally, other European BBs like BAML, UBS, and Deutsche Bank are also prominent players.
Exit opportunities can vary based on your experience and network. Italy's finance industry is relatively smaller than other European hubs like London, so it's essential to build strong connections and consider relocation options for more opportunities.
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