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Italy

Basic Economic Summary

Overview

  • Local Languages: Italian, English
  • Capital: Rome
  • Currency: Euro
  • Population: 60.36 million
  • Date Format: dd/mm/yyyy

Useful Information

  • GDP Per Capita (in USD): 33,228.24 USD (2019)
  • Exchange Rate (EUR/USD): 1.22
  • PISA Ranking (2018): 34
  • Number of University Graduates (2018): 327,526 thousand

Local Universities

Top Local Universities

University No. of graduates Rankings
University of Bologna 18,000 Ranking in Italy: 1, World Ranking: 112
Sapienza University of Rome 23,062 Ranking in Italy: 2, World Ranking: 114
University of Padua 38,495 Ranking in Italy: 2, World Ranking: 114
University of Milan 40,000 Ranking in Italy: 5 World Ranking: 164
University of Pisa 30,000 Ranking in Italy: 6, World Ranking: 189

Salary Data

Average Salary of Jobs (Per Month)

Job Title Salary Range (in EUR) Salary Range (in USD)
Technical Product Engineer 1,540 - 5,340 1886.38 - 6541.10
Software Developer 1,950 - 5,750 2388.60 - 7043.32
Data Analyst 1,650 - 5,260 2021.13 - 6443.11
UX Designer 1,260 – 4,000 1543.41 - 4899.70
Project Manager 2,170 – 6,390 2658.09 - 7827.27
Sales Executive 2,320 – 24,100 362.79 – 876.08
Chief Accountant 1,520 - 7,550 1852.64 – 9202.24

More information about average salaries in Italy can be found on SalaryExplorer.

Talent Sourcing Tips

Taxes

Employer Payroll Tax

Employers need to contribute 32.4% of the wages to social security.

Employee Payroll Tax

Employees pay 10% into the state fund for unemployment benefits.
Income tax is levied at a progressive rate on all annual income as follows:

Tax Rate Income Group
0.00% Up to 15,000
27.00% 15,000 - 28,000
38.00% 28,000 - 55,000
41.00% 55,000 - 75,000
43.00% Over 75,000

More information on income taxes levied can be found here.

Minimum Wage & Payroll

Minimum Wage

There is no minimum wage set by law.

Payroll Cycle

Workers are paid once a month. Paydays are generally on the 27th of the month.

Bonus

13th month salary

Quite a few employees in Italy are entitled to additional month’s remuneration (13th month salary) which is generally paid in December and referred to as Christmas Bonus when it applies to factory or manual workers.

Working Hours & Statutory Leave

Working hours

The standard working hours in Italy are 40, with about 8 hours a day on an average.

Overtime pay

Any hours exceeding the regular 40 working hours a week is considered overtime and should get paid at 10% over their regular rate. 8 hours of overtime can be approved and fixed by the company.

Public Holidays

There are a total of 12 public holidays in Ukraine. The list of public holidays can be found here.

Leave

Annual Paid Leave

The Civil Code provides a minimum leave of eight days for domestic workers only. Depending on the collective agreement between the employer and employees, leave is given to employees. However, they are generally not less than four weeks of paid leave in a year.

Sick Leave

Employees are entitled to sick pay starting from the 4th day of absence from work. Statutory paid sick leave is for a maximum of 180 days a year.

Parental Leave

  • Maternity Leave

Employed working mothers are given upto 5 months - a period of obligatory absence from work for the period of pregnancy and postnatal recovery.

  • Paternity Leave 

Paternity paid leave of 7 days is offered and can be claimed within five months of the child’s birth and granted at the same time as the maternity leave.

Offboarding & Termination

Termination Process

The contract can be terminated if the employment relation cannot be maintained:

  • Incase of breach of employment contract
  • When such an event occurs, even outside the employment relationship, which has an impact in the working environment causing the deterioration of the relationship between the employer and the employee

Notice Period

Notice period is decided by collective bargaining agreement.

Severance Pay

There is no severance pay in Italy.

Probation period

Generally, probation periods in Italy are six months.

VAT

22%

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