Hi, I'm a non-EU national and thinking of going to Uni Bocconi in Milan for undergraduate. Do you know the average salary of fresh graduates in Milan's investment banks, and also in London?
How much is the tax rate? I heard, it's abt 38% in Milan and 40% in London
What sort of other state/social security contributions should I expect, and how much?
KLL's argument is not that stupid.
Except hedge fund and central bank sales all other London based FI sales ppl cover their national markets and most of these markets are pretty small compared to the German speaking part of Europe and yes, Germany is quite conservative about equity portfolios.
I have been in both Frankfurt and London office of a leading bank. Of course the European office is smaller but I would not be surpurised if the average Frankfurt guy makes more sales credits than a London guy, of course except for hf/cb sales.
Right, thanks for the article. (I speak german,but not too well, so I still needed the translator).
But, I still need some information about the disposable income after tax. I'm thinking whether it's worth to go to Bocconi or it's better to go to the US as I need to save up for MBA.
So, the salaries are competitive. But, then, tax in italy is 38% then social security is abt 9%, that'll leave only abt 50% of your wage and nothing much for savings, is that the case in your country?
For example, if a fresh graduate in Milan earns salary+bonus 45K euro pa, he'll be left with abt 20k?
btw, how much is the average fresh graduate pay and Bonus in the I-banks in your country?
Graduate salaries don't really matter...
well unless he gets his bonus upfront he probably has to live off somethign for the first year.
also you're assuming that the bonus will make up the largest portion of the salary in future, which mightnot always be the case
and all the graduates who will be getting no or an insignificant bonus this year and maybe for some years to come... they probably also have a different oppinion