9. Italy
Salary in 2017 (USD): 111,800.00
Salary Growth (%): 0.06
GDP Growth Rate: (%) 1.51
Cost of Living Index: 83.70
When you think of Italy, you might think of the poetry, the art and of course the Ferrari. However, Italy, which ranks 9th on our list of highest paying countries for business majors, has a strong economy to back its scenic beauty. According to OECD report, Italy would continue its economic growth and has shown a sign that the times are going to be good, especially as the manufacturing sector showed its highest growth in recent past. Another important aspect of Italy’s economy, which is the 9th largest in the world, is that services sector accounts for almost 75% of its GDP and is the biggest employer.
Italy has gone through a lot of economic and political turmoil and as such has many important steps to take to stabilize its economy. This country would also face pressure from the European Union to get its act straight as another economic collapse would be devastating for the entire Europe. One of the major initiatives required is the creation of more jobs with high skill sets. The hiring is already on the rise, and with new initiatives like job act, employment is set to rise (unemployment rate has declined to 11.7%).
Management consultancy which is a major employer of MBAs is strong in Italy with companies like Bain and Co and McKinsey which are strong recruiters. Provided that the Italian government continues the economic reforms process, Italy will continue to remain a high paying country for business majors.
PHOTOCREO Michal Bednarek/Shutterstock.com
