Have you ever thought about what emigration means? Perhaps you have dreamed of it, but have always hesitated. What you will read in this article might surprise you.
I have shown you my journey towards financial independence, and now we will delve further into the option of emigration but from a broader perspective.
Emigrating can represent a path with a high potential for success and professional growth, especially in a meritocratic context.
Leaving your home country to work abroad can open you up to a broader range of possibilities and challenges, allowing you to develop unique skills and expand your perspective on the world.
Traveling is a brutality.
It forces you to trust strangers and lose sight of the comforting familiarity of home and friends.
You constantly feel off balanceCesare Pavese
One of the main advantages of emigration is access to more dynamic and growing labor markets, which can offer career and earning opportunities beyond what is available in our beloved country. Additionally, working abroad exposes us to new cultures, languages, and ways of thinking, enriching our pool of experiences and skills. Once the initial sacrifices are overcome, the desired rewards will come.
However, it is important to be aware that emigration can be a challenging path full of obstacles. Adapting to a new work and cultural environment requires flexibility, resilience, and adaptability; unfortunately, this is not always achievable. Throughout my career, I have seen many colleagues return to Italy after just a few months of working abroad.
To maximize the chances of success in emigration, careful planning and adequate preparation are essential. Based on my experience, I have concluded that there are two main modes of emigration.
Individual Emigration
The first option is quite straightforward: you need to move to the country you have identified and start from scratch, possibly doing a different job from what you studied for, because it is unlikely that your qualifications will be recognized. This is the toughest scenario, requiring a lot of motivation, flexibility, and sacrifice. I recommend it to those who are at most thirty years old and do not yet have a family. In this case, the type of work contract will be rather standard in terms of benefits and equivalent to that of a local.
In general, it would be advisable to focus on countries with high salaries, such as Switzerland, and with a higher purchasing power compared to Italy, so that the percentage of savings from the salary is significant. Imagine you are an employee. Your salary in Switzerland will be around 5,000 euros a month. The cost of living is certainly much higher, but if you manage to save 30%, that’s 1,500 euros, which is more than the salary you would earn in Italy.
Company-sponsored Emigration
The second option is the optimal choice and is the one you should aim for. Try to emigrate on behalf of the company you already work for, as I did. In this case, in addition to the salary, which often benefits from tax advantages, you will receive the classic “expat package.” The company will cover most of the costs, such as housing, which is normally the largest expense, education for children, insurance, and so on.
Even an experience of just 5-7 years can make a significant difference in terms of savings and accelerate the process towards achieving financial independence. My journey lasted seven and a half years. There are no particular age constraints: this choice can be made by both a single thirty-year-old and a family man. Although it is easier when you are young, it is still a matter of motivation.
Local Contacts
Another general factor to consider when choosing a country is the presence of relatives or friends already well-established in the new context. They could be very helpful at first, especially if you are in the first scenario without a company backing you.
We must not forget that the Italian people have emigrated a lot in the 20th century. It is estimated that Italians abroad number between 60 and 80 million. In 2007, a third wave began. According to AIRE, in 2017 there were about 5 million Italians living abroad, and since AIRE registrants are a minority, this number can be multiplied by at least two or three times. Naturally, I am also registered with AIRE.
An important aspect in selecting a country is that salaries should have a high purchasing power compared to that of the home country, and additionally, the chosen country should be meritocratic in career development. As a purely indicative but non-exhaustive example, the first country that comes to mind is the United States, where there is also the Green Card Lottery. Personally, I have many friends who have moved there and none of them want to return. In fact, the main comment I always receive is: “I wish I had done it earlier!” If you really don’t want to change continents, Switzerland, which is very close to Italy, is the most suitable place for emigration.
Emigration represents an attractive option for those seeking to maximize their income and career opportunities. However, it is important to carefully weigh the pros and cons and prepare adequately before embarking on this lengthy journey.
On avance!
