The average salary in Portugal can provide important insights about the country’s economic state. Here are key numbers you should know.
With so many news coming out of Portugal in recent times, in particular, the investment in renewable energies, leaving the economic crisis behind and the current attention of big name companies, it seems that Portugal’s appeal has never been higher. However, there are still a few things that leave both foreigners and expats with doubts: the minimum and average salary in Portugal.
What is there to know?
Minimum wage
Since 2019, the minimum wage in Portugal is set on €600 with a slight increase in Madeira and Azores. The Portuguese minimum wage is revised annually and its increase depends on various factors, such as the government budget, cost of living, internal production and investment, among others. Due to the annual disposition for its increase and the perks you won’t find anywhere else, not considering solely the great weather, beaches and pastéis de nata (although eating a pastel de nata under the sun in the beach is definitely a must for all) still makes Portugal a top choice. At this time, thanks to the technological boom, companies are all about impressing talent, providing plenty of perks and benefits, all to ensure a long lasting and successful partnership.
Average salary
According to the Portuguese National Institute of Statistics (INE), based on an employment survey for the fourth quarter of 2018, the average net income of the employed population, in the course of 2018, was €888, per month. Taking into account a better performance by the economy and the ongoing pressure for higher wages, could result in a rise of the average salary in Portugal for the following years. However, in spite of the current numbers, the country still manages to attract people from all over the world. The balance between professional and social life, safety, hospitality and tech blowout all come together to provide a one of kind invite: Welcome all!
From North to South
Despite the fact that Lisbon has the same minimum wage as the rest of the country, the capital is a major international focus for businesses. Now, more than ever, companies and technological giants are investing, which means the average salary in Portugal is different when comparing to Lisbon. In addition, the current economic dynamics and the growth of the technological sector makes Lisbon a strong choice for expats. That said, the capital is not alone. Other cities and regions, such as Porto and Algarve are also a target thanks to the big real estate and tourism industry. Combining this with the competition between companies for high quality talent, translates into a win-win for both sides. This means that, although there is an average salary in Portugal, it doesn’t translate to earning the ordinary income, on the contrary. There is also the possibility of negotiating your wage, a common thing in Portugal during the interview process.
In sum, if you are considering Portugal as your next destination for the following months, keep in mind that change is ongoing, new industries are better developed each day and of course, job oppportunities are all around. The average salary might differ comparing to other European countries, but Portugal’s potential and growth has never been higher.
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