What is the salary needed to live well in Portugal?

To live well in Portugal, a monthly salary of €1,500 to €2,000 is generally sufficient. This amount covers basic expenses, including housing, food, transportation, and leisure activities, especially outside major cities like Lisbon and Porto where the cost of living is higher.

What jobs pay well in Portugal?

High-paying jobs in Portugal are often found in the information technology, healthcare, and finance sectors. For example, IT developers, specialist doctors, and financial experts enjoy high salaries, often exceeding €2,000 per month. Other well-paying professions include engineers, lawyers, and management consultants.

Can you live in Portugal with €2,000 per month?

Yes, you can live comfortably in Portugal with €2,000 per month. This income covers everyday expenses and offers a good quality of life, particularly outside major urban areas where the cost of living is lower. Even in larger cities like Lisbon or Porto, this amount allows for a pleasant lifestyle, taking advantage of the many available activities and services.

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Average Salary in Portugal

Maxime G.

7/23/2024

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min read

Blog

Portugal - Working

Index

Detailed Overview of the Average Salary in Portugal
What is the Median Salary in Portugal?
What is the Minimum Wage (SMIC) in Portugal
Comparison with Other European Countries
Factors Influencing the Average Salary in Portugal
What are the tax rates in Portugal?

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The average monthly salary in Portugal in 2024 stands at €1,540, reflecting an upward trend from previous years but still lagging behind countries like France or Germany.

Several factors influence this remuneration level: industry, geographic location, and professional experience. Despite lower salaries compared to other European countries, Portugal attracts many due to its affordable cost of living and excellent quality of life. Let’s delve into the figures and specifics of the Portuguese labor market.

Detailed Overview of the Average Salary in Portugal

The average salary in Portugal is an interesting subject for many. It differs significantly from that of its European neighbors. In 2024, the gross monthly salary increased to €1,540. To give a clearer idea, here’s how this figure has evolved over time:

2020: €1,314/month;
2021: €1,361/month;
2022: €1,411/month;
2023: €1,505/month;
2024: €1,540/month;

This progression shows a modest upward trend, which is good news for Portuguese workers. Higher salaries can make it easier to obtain mortgage loans, addressing the current housing crisis that causes significant issues for locals.

Evolution of average salary in portugal between 2020 amd 2023

What is the Median Salary in Portugal?

The median salary in Portugal is €1,240/month in 2024. This median salary divides the population into two equal groups: those who earn more and those who earn less.

What is the Minimum Wage (SMIC) in Portugal

The minimum wage in Portugal, or SMIC, has been raised to €830/month gross in 2024, paid over 14 months as per common practice in Portugal.

Comparison with Other European Countries

To put these figures into perspective, let’s compare them with other European countries:

Country	Average Annual Gross Salary (€)
Portugal	€19,800
France	€40,250
Belgium	€49,100
Spain	€29,500
Luxembourg	€72,000
Switzerland	€71,000

As evident, Portugal has a much lower average salary than other EU countries. However, the lower cost of living in Portugal balances out the purchasing power.

Factors Influencing the Average Salary in Portugal

Several factors influence the average salary in Portugal:

Highest Paying Sectors

Your professional field plays a crucial role in determining earnings. Some sectors offer higher salaries than others:

Information Technology: Developers and data analysts are well-compensated due to the increasing digitization. Their salaries often exceed €2,100/month.
Healthcare: Doctors and nurses are highly valued, with specialists earning the most.
Finance: Financial experts enjoy attractive remunerations, typically over €1,900/month.

Here are the average salaries for common professions:

Mason: €1,290/month
Nurse: €1,690/month
Lawyer: €1,710/month
Cook: €1,290/month
Engineer: €1,460/month

Impact of Geographic Location on Salaries

Geographic location greatly influences salaries in Portugal:

City	Average Monthly Salary (€)
Lisbon	€1,550
Porto	€1,260
Setúbal	€1,340
Coimbra	€1,180
Braga	€1,100
Viana do Castelo	€1,050

Working in urban centers like Lisbon or Porto correlates with higher salaries due to the concentration of businesses and opportunities.

Education Level and Professional Experience

Education Level: Higher education levels lead to better job opportunities and higher salaries.
Professional Experience: Experienced professionals are usually better compensated for their added value and expertise.

What are the tax rates in Portugal?

In Portugal, the income tax rates are progressive and vary based on your annual income. The rates for 2024 are:

Up to €7,479: 14.5%
€7,480 to €11,284: 23%
€11,285 to €20,800: 28.5%
€20,801 to €38,632: 35%
€38,633 to €50,483: 37%
€50,484 to €78,834: 45%
Above €78,834: 48%

Additionally, there is a solidarity tax for high earners, which can add an extra 2.5% to 5% for incomes above €80,000.

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