Paris Vs London
I am fluent in both English and French in addition to my native language. Should I aim to work in Paris or London? Which city will provide me with a higher disposable income?
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Pretty sure London is better on all fronts (be it WLB, culture, comp, opportunities, etc.). For culture it is quite subjective but I think French culture is way more stiff and hierarchical than anglo-saxon work culture. Not to say that Paris is a bad place, still a premier financial centre but I think London wins hands down.
Agreed, except for pay which is higher in Paris
True
Interesting, maybe at junior levels but I think it plateaus much more quickly no (at least that is the preconception I had regarding continental offices in general)? And including French taxation it can't be that much better of a deal? Genuinely curious, my only true datapoint was internship pay which is beyond garbage at most places in Paris.
Pay in Paris is about ~30% less at the Analyst Level than London (which is in turn ~10-15% worse than NY).
Are you sure about this?
I interned at a BB in Paris and have a few friends at other BBs and the likes of Lazard. The pay was around 65-70k for An1 and total comp was around EUR 105-110k on average, which brings it atleast as much as in London if not more. This is before the recent pay bumps.
After the pay bumps, I think the An1 pay at my BB is 75k.
Isn't it £60k base + £40-50k bonus now?
In the past, I think it was something like £50+£30k for banks (i never worked in IB, I'm guessing admittedly, I used to make a bit more)
Yes it is.
What I was trying to convey is when the UK pay used to be 50+35 or so in Pounds, Paris pay used to be approx 65+40 in Euros.
Also, may I ask if the PE firms in London are seeing any comp raises after the IB pay bump?
Confirmed
?? That is just wrong lol. What are your data points?
Cannot comment at the senior level but for juniors, salaries are higher in Paris while taxes are somewhat similar. CoL is lower. If you factor in participation/intéressement, there is no match.
I had offers in both cities and friends working in both as well. Even weak banks such as SG offer c.100kEUR packages.
Analyst TC in London at PE (& therefore I assume IB too) is ~£100-150k. Assoc 1 promotion ~£230k ($300k) + co-invest/ carry.
No friends I know in Paris make that much and London taxes are probably lower. France is basically a socialist gulag.
Ok man - thanks for the valuable insight.
SG is not weak in Paris mate. Worked at a US BB in Paris and from what I have seen, SG fares much much better than the US counterparts in Paris. Both in advisory and in financing.
yeah that's true. They're pretty decent in the EMEA league table
Don’t chose on a marginal 10m income... wtf.
London is the best city unless you hate the world outside France or can’t live away from Your family
Both suck.
based
Pay in London is a bit higher if you compare positions at similar bank. Some boutiques like Messier & Associés can pay 70k+70k bonus (two years ago so might have increased), which is fairly decent
Both disgusting cities with tons of annoying joggers
looking at your comments, the only disgusting thing is you lol
you criticise everything
Come to Paris they said. Encounter and enjoy French culture and people they said.
Damn, wonder what happened to you that you're that salty and racist.
You may think what you want about most people in the picture but to include a child in your racism is exceptionally low. Would be pretty ashamed if I were you.
It's literally a picture that has been floating around for ages.
What's racist about it. Just shows the Paris metro.
You're the one who's reading too much into it kid.
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