Having a politician relative adds
an average of 500 euros a year to one's salary, according to a
new study by two Italian economists.
This is equal to a 3% increase in an average paycheck.
In comparison, every additional year of education adds an
average of 6% to one's salary, according to the study by Marco
Manacorda, professor of economics at the Queen Mary University
of London and research associate at the London School of
Economics, and Stefano Gagliarducci, professor at Rome Tor
Vergata University.
A preview of the still-ongoing study involving 550,000
politicians and 800,000 private-sector employees was presented
during the Economy Festival in the northern city of Trento at a
conference titled Family Business: Political Nepotism and
Careers in Italian Companies.
The study also found that having a relative on the local
city council seems to bring more "benefits" in northern Italy.
"Salaries increase gradually from the time the relative
enters politics, flatten out around the third year, and go back
to their regular levels after the relative exits the political
scene," Manacorda said.
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