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.
Thank you for sharing your views!
First of all congrats! Which bachelors degrees are you admitted to? This might play a difference. Are you being offered some scholarship? SGH and Cattolica are private uni, how much will you be paying?
Full disclosure: I am Italian studied in Italy (public uni) now working abroad (CH) and spent 6 months in Warsaw as an exchange student 10 years ago, I am a bit biased against Italy so please take it in consideration.
Consider cost of living, in Milan is super expensive compared to the salary you will be offered right after university. Cattolica is definitely behind Bocconi in Italy in terms of everything but I don’t think it’s a bad place at all. You need to speak Italian for a job offer in Milan.
SGH is the “Bocconi” in Poland, number one as brand. Many investment banks have offices in Warsaw/Poland and it’s mostly not front office but still good places to start of doing an internship. And you also have Point72 in Warsaw. The city is growing like hell and I know people (Italians) moving from Italy to Poland after university to work, as comp might be very similar if not better in Poland. You do not need Polish to get a job in Warsaw.
I have spent 6 months in Warsaw (not SGH) 10 years ago and it was a great place, the city has grown dramatically and it’s very international, much more than Italy where you have mostly Italians. University degrees level in Poland is very strong Eastern European students are technically very prepared.
KUL they have some strong master degrees but I don’t know the opportunities post graduation there.
Overall I think both SGH and Cattolica are good, as Italian I would not know which one to pick, my days in Poland were great and I don’t regret at all of going there. Not a definitive answer here but I think it’s essential to consider:
Here's a quick breakdown on how I see it:
Milan
Investment Banking: Milan is the hub. Most opportunities are with UniCredit, Intesa Sanpaolo, Mediobanca, and boutiques.
Junior pay: Analyst-level base ~€35k–50k, bonus €5k–15k → total €40k–60k. Lower than US/UK but competitive locally.
Competition: Very high; Bocconi dominates recruiting, but Università Cattolica is still respected, especially if you combine it with internships.
Consulting: Big4 (Deloitte, PwC, EY, KPMG) and boutique firms operate mainly in Milan. Pay is modest compared to UK/US, but experience is solid.
Warsaw
Growing IB and consulting scene, often smaller deals.
Junior pay is lower than Milan (€25k–40k all-in), but cost of living is also lower.
Opportunities to break into local or regional roles; competition is smaller than Milan.
Brussels
Mainly EU institutions, regulatory, public policy, or corporate finance roles.
Consulting exists (Accenture, Deloitte, PwC), but IB is smaller.
Pay is moderate (~€35k–50k junior roles), but you get exposure to EU/global institutions.
Bottom line
Milan is the best choice if your goal is IB or Big4 consulting — strongest hub in Italy.
Warsaw is decent for cost-conscious students, smaller market.
Brussels is better if you lean toward EU institutions, policy, or advisory rather than pure IB.
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