Interested to know a bit more on PE comp packages for Associate and VP roles in Italy, thanks in advance

A bschool friend of mine worked at one of the better italian PE firm pre-mba. He ended up moving to a BB for the significantly higher comp. Outside of a very few select roles with international firms (and there aren't many), comp in southern europe is truly abyssal. The COL is lower, but in a city like Milan, nowhere near low enough to compensate for the much lower take-home pay. You add higher taxes and living there really doesn't allow for a better lifestyle.

Looking at Numbeo, rent prices in Milan are significantly lower than in London but purchasing power is a lot lower in Milan. Any idea why that's the case? Milan seems like an expensive city without the salaries to match.

PE Compensation in Italy

deathlycynical

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Associate: Small pizza with no carry
VP: Medium pizza (+1 topping for carry)
Partner: jumbo pizza + unlimited toppings carry potential

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Analyst 2 in PE - LBOs

Anonymous

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Recently found this article published by PageGroup and BeBeez where they've interviewed most of the funds in Italy (https://bebeez.it/files/2020/10/Studio-di-Settore_Private-Equity.pdf). In summary:
i) Analyst/Senior analyst: 30-55k base + 20-30% bonus
ii) Associate: 45-75k + 40-50%
iii) Investment Manager: 70-120k + 50-80%
Obviously it depends on many factors, among which the AUM of the fund. For funds >500mln the bonus goes up to 100% for analysts/associates/managers according to this report.
What do you think? Are these figures accurate in ur opinion? Wouldn't it be best to work in London / Switzerland / France?

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PE Compensation in Italy

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