Guides / City guides / Milan
Break into investment banking in Milan.
Milan’s banking market is built on Italian family companies and strong domestic banks. Six-month placements are the usual way in, and Italian is essential.
The Milan recruiting year.
Milan hires interns in several intakes a year.
- Several times a year
Placement applications
Banks recruit six-month placement analysts for several start dates. Citi ran Milan placement intakes in May and October/November 2026 and January 2027.
What to do: Apply for the intake that fits your studies.
- Application
Grades matter
Citi asks Milan applicants to list their graduation grade, exam average (media ponderata), GMAT if any and high school grade.
What to do: Have your grades ready and accurate.
- Six months
The placement
Placement analysts work on live deals alongside analysts and associates.
What to do: Treat it as a six-month interview.
- After the placement
Analyst offers
Many analyst roles are filled from former placement interns.
What to do: Ask for feedback and stay in touch.
- After graduating
Full-time analyst roles
Global banks also post full-time analyst roles in Milan.
What to do: Watch for analyst postings each autumn.
Typical windows only. Dates vary by bank each year.
Ways in.
Six-month placements
The main route in, often during or right after a master’s.
Full-time analyst roles
Fewer places, often going to former interns.
From Big 4 or corporate finance
Deal advisory experience can lead to M&A roles.
Who hires in Milan.
Italian family-owned companies drive much of the deal flow.
| Tier | Examples | Why apply |
|---|---|---|
| Italian banks | Mediobanca, Intesa Sanpaolo (IMI CIB), UniCredit | Lead much of Italy’s domestic deal flow. Mediobanca is now controlled by Monte dei Paschi. |
| US and global banks | Citi, J.P. Morgan, Goldman Sachs, Morgan Stanley, Bank of America | Milan teams covering Italian corporates and banks. |
| Advisers | Rothschild & Co, Lazard and Italian boutiques | Advisory work for family-owned and mid-sized companies. |
Grades carry a lot of weight in Italian applications. Put your graduation grade and exam average clearly on your CV.
Are you Milan-ready?
Tick what you’ve done. Be honest: interviewers will find out.
The Milan selection process.
- Online application, with grades and CV.
- Tests, at some banks.
- Interviews, technical and fit, in Italian and English.
- Final round, with senior bankers.
Visas and work rights.
EU citizens can work in Italy without a permit. Non-EU students need an internship agreement and the right permit.
Many placements require you to be enrolled at a university that can sign an internship agreement.
Test yourself: Milan
Questions from the Mandate app. Try each before you open it.
The Milan stock exchange (Borsa Italiana) is now part of…
Euronext. Euronext bought Borsa Italiana in 2021.
The main Italian stock index is…
The FTSE MIB. It tracks the 40 largest and most liquid stocks on Borsa Italiana.
Which regulator oversees Italian securities markets?
CONSOB. The Bank of Italy and the ECB handle bank supervision.
Which Italian bank is known for its corporate and investment banking franchise in Milan?
Mediobanca. Now controlled by Monte dei Paschi, it keeps the Mediobanca brand for its CIB business. Intesa Sanpaolo and UniCredit also have large CIB teams.
Get ready before applications open.
Mandate’s Milan add-on and core units prepare you for Italian banking interviews, with daily drills and mock interviews.