Larks comments on 2012 Less Wrong Census Survey: Call For Critiques/Questions - Less Wrong Discussion
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Bachelor's / Master's / Ph. D / MD/JD/other equivalent professional degree is standard in the UK, Australia, etc. as well.
And even though the names may differ, there are obvious equivalents in Italy (and I guess most of Europe) too.
There's been a standardization process establishing equivalent degrees in pretty much all of Europe.
Indeed. When I'm speaking in English, I normally just refer to the degree I got in 2009 as a Bachelor's, the degree I got last week as a Master's, and the one I'll hopefully get in three years as a PhD, without even mentioning their Italian names unless I have some kind of reason to do that.