Comments (20)

 
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Jul 24, 2020 - 12:57pm
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  • Prospect in IB-M&A
Jul 26, 2020 - 3:03pm

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.

 
Aug 11, 2020 - 7:52am

AFAIK a MF analyst in Milan signed for around 70K before tax + bonus, in line with what this MF offers in LDN. Taxes should be higher in Milan compared to London, but COL should be a bit lower, so all in all I'd say comp is in line with London.

Don't know for associates and higher ranks.

 
Aug 11, 2020 - 9:08am

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. Not to mention that my personal experience with Milan is that it's one of the worst place for work life balance in finance / consulting.

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