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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.
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:
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.
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.
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.
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.
Several factors influence the average salary in Portugal:
Your professional field plays a crucial role in determining earnings. Some sectors offer higher salaries than others:
Here are the average salaries for common professions:
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.
In Portugal, the income tax rates are progressive and vary based on your annual income. The rates for 2024 are:
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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