Investment Banking in Paris
For people who worked in IB in Paris, what are your insights? How is the compensation, work environment, deal flow, hours..
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-Base comp is higher in Paris than London at junior level (€90k vs £70k) at BB. Not sure about bonus. CoL is around 10-20% cheaper in Paris, which makes it quite worth it comp wise. Comp is way lower at small boutiques (not EB) though.
-Working hours can be rough but it's highly group dependent (like in London).
-Culture is better in London from what I heard. A lot of seniors in Paris are a bit old fashioned, especially at french/EU banks. Would be curious to hear about the culture at American banks, which might be a bit better (?)
-Deal flow is very good at most banks.
There are some local boutiques that are killing it, such as Messier Maris, Bucephale, Barber Hauler, Edmond de Rothschild, Cambon, Ohana & Co, Bryan Garnier, Natixis Partners, Sycomore, Banque Hottinguer, Amala Partners, etc
I used to work at a French bank in NY (Societe Generale). I absolutely hated the culture. French are nationalists, and if you're not French you're not part of the club. As a non-French person, you'll feel excluded and have to put in extra effort to learn about French culture. Culture is very hierarchical and people are assholes. Yelling, berating, etc. You'll have some vp email you a document asking for you to upload said document when it would have taken the vp less time to do it himself. This stuff happens ALL of the time at French banks. Contrary to popular belief about French work culture, hours are demanding. Some French institutions might have you work even longer hours than a typical US sweatshop.
Again, not trying to scare you from doing IB in France. Just want to open your eyes to the actual culture vs expectations.
Hours are brutal, no benefit vs London. For some firms it’s worse in Paris than London (laz/rth)
That being said, If you’re French, target school, love the Parisian life, like shitting over anyone else who’s not working in the Paris office, and can play the French politics, it’s a good spot.