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I live in France and I am French. Here's some stuff that may be helpful about general life in Paris:

Basic health care is usually good. All major (read terrible) diseases are covered and medicines/drugs are generally inexpensive, and you will never be turned down to get treated for health care problem in the ER, but I would strongly suggest that you check whether if your employer offers additional health benefits, which would allow you to have access to American Hospitals (there are a few around Paris)... In case of complications, it will help that you have an American or English speaking Doctor. Private clinics tends to treat you slightly better (they will care more for personal comfort).

Visa: you will need a work visa, this should be one of the first discussion to have. The work visa should give you access to unemployment, social security and basically provide you access to the administrative grid.

Driver license: there are a few US state where your driver license will be honored to produce a European/French driver license. If you have a mini-van, and you want full coverage, expect to pay about 1000 Euros/year. You will need to go to a certified translator who will provide an official translation of your driver license and apply at a local administration.

Housing: this is really really expensive. Ask for your employer to become your caution, this will help your application get through (otherwise, if you are just being hired they will reject your application). Ask them to also cover the rental agency fees (could be about 1000 Euros). A computation used by rental agency to figure out how much you can afford is to take 30% of net salary (so 80% x $70k x 30% = 1000 Euros). There is nothing of decent size in Paris intra-muros for that price... This might require you to commute every day and it will take much of the fun away. If you do commute, you can request your employer to cover part of your commute costs. Request that your employer covers the first month of your arrival (in a hotel, or short stay residence) while you settle down and find a new place to leave. Getting a rent-controlled appartment in Paris is about as easy as getting one in New York. There are some districts and suburds around Paris which are about as bad as the Bronx. Check the transportation system and figure out where to leave by making the simplest commute route. Be prepared for strikes, usually in September-October.

School: public schools are generally good, but I am not aware of specific programs for foreign kids. This may be a source of stress for you as parents, there are a few American Schools and you could ask that your employer covers that as well (not atypical when being expat) because they are very expensive.

While you are there, make an extra effort to learn the language, this will pay off in the long run (either if/when you return to the states or if you decide to stay there). There are no dual language forms available in administrative offices, hospitals, rental agencies and so forth so you should negotiate to have local secretarial assistance from your employer to help you with all that.

As you see, there are a lot of 'Ask your employer to cover that' any decent employer should understand that an expat is financially challenging and they should provide you some form of assistance, if not, they are just being cheap and it means you are being paid under what you could get in the states.

Last please look for your wife that she has a social environment she can hookup into (yes, some b*tches that she can turn to and rant about you, the Frenches and what not). You will most likely be insulated from ordinary nonsense because of your work, but she won't. So, try to hook up with other fellow Americans whenever possible. Check also this fanzine, this will help: www.fusac.fr/.

Addiontal tidbits:

  • TV (including International channels, but please please focus on French channels - naked chicks everywhere) + Internet (unlimited plan) for 30 Euros/month (www.free.fr), US and many other destinations are included in the package (you do not pay for US landlines phonecalls).

  • A decent cell phone plan, with 3 hours talk time at peak hours (8:00-19:00), unlimited SMS/MMS/Internet (3G+), unlimited talk time during non-peak hours and week end is going to set you back about 60 Euros/month.

  • Electricity: about 100 Euros/month

  • Food: for a family of four could be in the 800 Euros/month if you are tight up to 1200 Euros/month if you just buy whatever you want without looking at the sticker price.

 

Ah, Paris! The city of lights and a hub for finance, not just croissants and the Eiffel Tower. If you're part French and considering a stint in Paris, you're in for a treat, especially if you're eyeing the finance sector. Based on the most helpful WSO content, here's what you might want to know:

  • Compensation: Junior level base compensation in Paris can be higher than in London, with figures around €90k compared to £70k in London for investment banking positions at Bulge Bracket (BB) banks. However, bonuses can vary, and it's worth noting that the cost of living is approximately 10-20% cheaper in Paris.

  • Work Environment: The work hours in Paris can be intense and are highly dependent on the group you're with, similar to London. However, the culture might differ, with some noting that the culture in London is more favorable. French and EU banks in Paris are sometimes described as old-fashioned, but American banks might offer a different vibe.

  • Deal Flow: Paris boasts a very good deal flow, and there are local boutiques that are making significant waves in the industry. Some of these include Messier Maris, Bucephale, Barber Hauler, Edmond de Rothschild, Cambon, Ohana & Co, Bryan Garnier, Natixis Partners, Sycomore, Banque Hottinguer, and Amala Partners.

  • Living in Paris: If you're from a target school and enjoy the Parisian lifestyle, you'll likely find Paris to be a great fit. It's also a place where you can immerse yourself in French office politics if that's your cup of tea.

Now, if you're looking to get more insights or perhaps even find a mentor who can guide you through the process of landing a finance role in Paris, the WSO community is a treasure trove. You can connect with professionals through the WSO Resume Review or WSO Mock Interviews services, which could be a great way to prepare for your adventure in Paris. Bonne chance!

Sources: Investment Banking in Paris, What are the best Investment Banks in Paris? I know London is the mecca of IB's, but I'm interested in living in Paris., European IBs & Commercial Banks

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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