4. Japan
Salary in 2017 (USD): 106,600.00
Salary Growth (%): 0.33
GDP Growth Rate (%): 1.51
Cost of Living Index: 85.28
Still the third largest economy in the world (Nominal GDP), Japan has created some of the world-renowned business including Sony, Toyota to name a few. Even at these levels, it has shown a steady and sustainable growth rate and is expected to continue its strong performance. Also, it is a nation with positive trade account surplus. The standard of living as well as the cost of living in Japan is higher. The cost of living is relatively higher in the context of the salaries earned by its business majors.
Traditionally Japan, the number 4 on our list of highest paying countries for business majors, had “guaranteed lifetime employment” which became obsolete with changing times. Still, the large portion of the population is employed under this guarantee and would retire soon.
Japan has focused on infrastructure development including bullet train projects and upgrading existing networks. Furthermore, Japan is exploring other markets where it can sell its technology (it signed a MoU with India to develop intercity bullet train network). In such a situation Japan is in need of qualified business leaders who can establish Japan’s innovation capabilities of the past.
Pixabay/Public Domain
