A piston for an internal combustion engine, comprising: an upper piston part; a lower piston part; at least said lower piston part being fabricated from a ferrous based material; said lower piston part having a pair of pin bosses formed with associated pin bores aligned along a pin bores axis; said lower piston further including a pair of piston skirt portions that are formed of one piece with said pin bosses of the same material; said upper and lower piston parts each including an outer annular wall and an inner annular wall spaced radially apart from one another and presenting a channel portion between each of said inner and outer walls; said inner and outer walls of said upper piston part being permanently joined across inner and outer weld joints to said respective inner and outer walls of said lower piston part to define therebetween an annular cooling gallery that has two side walls provided by the joined together inner and outer walls, an annular top wall formed by the upper piston part and a lower wall formed by the lower piston part; said joined together upper and lower piston parts including a combustion bowl defined in part by an inner surface of said joined together inner walls, and further including a generally dome-shaped bottom wall of said combustion bowl extending radially inwardly of said inner wall of said lower piston part; said inner weld joint being exposed to said combustion bowl; said joined together piston parts including a piston height dimension, PH, measured from a bottom edge of said pin boss to a top face of said upper wall; said joined together piston parts including a compression height dimension, CH, measured from said pin bore axis to said top face of said upper wall; said joined together piston parts including a piston diameter, PD, measured as the outer diameter of the upper wall; characterized in that PD equals about 103 mm, CH equals about 40 mm and the ratio of CH/PH equals about 2/3, a lower, radially innermost corner of the cooling gallery undercutting the combustion bowl such that the corner extends radially inwardly beyond a radially outermost region of the combustion bowl. an upper piston part; a lower piston part; at least said lower piston part being fabricated from a ferrous based material; said lower piston part having a pair of pin bosses formed with associated pin bores aligned along a pin bores axis; said lower piston further including a pair of piston skirt portions that are formed of one piece with said pin bosses of the same material; said upper and lower piston parts each including an outer annular wall and an inner annular wall spaced radially apart from one another and presenting a channel portion between each of said inner and outer walls; said inner and outer walls of said upper piston part being permanently joined across inner and outer weld joints to said respective inner and outer walls of said lower piston part to define therebetween an annular cooling gallery that has two side walls provided by the joined together inner and outer walls, an annular top wall formed by the upper piston part and a lower wall formed by the lower piston part; said joined together upper and lower piston parts including a combustion bowl defined in part by an inner surface of said joined together inner walls, and further including a generally dome-shaped bottom wall of said combustion bowl extending radially inwardly of said inner wall of said lower piston part; said inner weld joint being exposed to said combustion bowl; said joined together piston parts including a piston height dimension, PH, measured from a bottom edge of said pin boss to a top face of said upper wall; said joined together piston parts including a compression height dimension, CH, measured from said pin bore axis to said top face of said upper wall; said joined together piston parts including a piston diameter, PD, measured as the outer diameter of the upper wall; characterized in that PD equals about 103 mm, CH equals about 40 mm and the ratio of CH/PH equals about 2/3, a lower, radially innermost corner of the cooling gallery undercutting the combustion bowl such that the corner extends radially inwardly beyond a radially outermost region of the combustion bowl.