Going to be doing CB coverage at the NYC office of a large European bank, but some time down the line (5-10 years) would love to transfer/move to Paris... how hard/easy would it be? Does coming from NYC carry any sort of advantage? Does it completely depend on the bank/your seniority there? And is there any position that would make the transfer easier?
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Visit Paris, see what's/who's there and you'll change your mind. Its a shithole...
Just went recently, felt like heaven on earth compared to nyc — coming from somebody who has lived in nyc their whole life. What don’t you like about it?
Glad you enjoyed it. Nice username lol
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Ignore title.
Have pretty much never seen the move happen, mainly because of 1) language fluency requirements (i.e. being fluent is generally not enough, you basically need to be native) 2) much lower comp.
It probably also depends on your firms friendliness to internal mobility. I know a French guy who wanted to come back to Paris after a few years in the US for family reasons and ended up having to rerecruit.
Waiting 5-10 years will also most likely make the move harder. Once you become senior, your network and client contacts matter more so you’d have to rebuilt those from scratch.
The comp thing is neither here nor there because a banker in Paris at a top bank (esp a US BB or Laz / Roths / CVP) has a lot more relative money and social status vs some random on 3mm in NY.
But it’s still practically impossible unless you’re French elite hanging out in NY at the start of your career for fun. Banking in France is for the French and really only a subset of French society. A bit like it was before the democratization of finance in the US and UK. I had a buddy of mine in my analyst class who was French but not of the elite and there was NFW he was going back to Paris.
Interesting, thank you. When you say there was NFW your friend would go back to Paris, is that because he would get treated shitty as he is not part of the "elite," or because offices there literally would not take him?
What I meant is that most US bankers will have a hard time looking past the comp cut in absolute terms. To be fair, it's hard for someone doing the US>France move to grasp the value of side perks/benefits (lower rent, better health coverage, plan de participation, RTT, CE...)
I worked there for an internship. Not a native and not part of the elite, grew up in Paris crowd but I speak French. Good luck getting in with any of the cool people doing cool shit, even when you go out people will not talk to you. I started to think something was wrong with me but the second I stepped into a bar in NYC it was instantly back to normal and felt human again. I'm convinced the people that make it work BYOF (bring your own friends). Getting a job will be impossible unless you do some internal transfer / year-abroad thing with your current firm.
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