Should I move to Italy?
Hello guys, I'm from a third world country, I got accepted in Bachelor in Business and Finance in Universita Cattolica Del Sacro Cuore in Italy. I want to ask if Italy is worth it for Investment Banking and Consulting, especially in Milan? How are the pay and opportunities for junior entries?
My second options were Warsaw (SGH) or Brussels (KUL), would you say I'm better off there?
Ah, the age-old question of where to plant your roots for a flourishing career in Investment Banking (IB) and Consulting! Based on the most helpful WSO content, let's dive into your query.
First off, congratulations on your acceptance to Universita Cattolica Del Sacro Cuore! That's no small feat. Italy, and Milan in particular, is a vibrant hub for fashion, finance, and business. Milan is considered the financial capital of Italy and hosts the Italian Stock Exchange, which means opportunities in IB and consulting do exist. However, it's important to note that while there are opportunities, the financial market in Italy might not be as large or as dynamic as in other major European financial centers like London or Frankfurt.
Regarding pay and opportunities for junior entries in Milan, it's generally observed that starting salaries in Italy for IB and consulting might be lower compared to the UK or the US. However, the cost of living in Italy, especially outside of Milan, can be lower, which somewhat balances the scales. The quality of life is also a significant factor many consider when moving to Italy, with its rich culture, history, and cuisine.
Comparing Milan to your other options, Warsaw and Brussels:
Warsaw (SGH): Poland's economy is one of the fastest-growing within the EU, and Warsaw is a central hub for international businesses. The cost of living is lower than in Western Europe, and there's a growing demand for professionals in finance and consulting. However, the financial market is smaller compared to Western Europe's giants.
Brussels (KUL): As the de facto capital of the European Union, Brussels hosts a plethora of international institutions, NGOs, and corporations. This creates a unique ecosystem for consulting opportunities, especially in areas related to EU affairs, public policy, and international relations. The financial sector is robust, with a focus on asset management and private banking.
In conclusion, if your heart is set on Investment Banking and Consulting, each city offers unique opportunities and challenges. Milan provides a blend of culture and finance, Warsaw offers growth in a burgeoning market, and Brussels stands out for its international relations and policy-driven consulting opportunities. Your decision might also hinge on other factors such as language, culture, and personal career goals. Remember, it's not just about the job market but also about where you see yourself thriving both professionally and personally. Best of luck with your decision!
Sources: I Need You, WSO + Its Time To Move - Asia Job Search, 6 Things to Consider Before Accepting an International Work Assignment, Ask Eddie: Should I Bail On My Trading Job?, Is everyone's experience this brutal?, Planning on moving to Europe
Cattolica is like the #2/3 school in Italy, next to Bocconi. Two things to keep in mind.
1) You will have a tough time breaking into Milan IB (or most professional jobs) without having perfect Italian. Even 4 years in school might not be enough to crack it in top spots. This being said, if it leads to some kind of EU right to work, opens up more opportunities for you (but the same is true for KUL).
2) Pay is not good in Italy, maybe it's better than your country though.
All else equal, KU Leuvene is probably the better school for a non-italian imo. Cattolica would be a choice if you're Italian, and the choice would be italy 100% if this was Bocconi. But most Italians are trying to LEAVE with their degrees. No idea how the Warsaw program is.
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