Though Portugal is a beautiful land, it does not manage to escape the invariable fate of every and all today – our beloved capitalism. And so, if you were ever thinking of moving to Portugal or you’re just seeking an excuse to compare your earnings with another, then we’ll go over Portugal’s earnings for you. What is the minimum wage and the average salaries in Portugal?
What is the minimum wage in Portugal?
And what will it be in 2024?
Minimum wage is something of a controversy in every country. The minimum wage in Portugal in 2023 is €760 per month (before tax), or about £660. This means that the minimum annual earnings are at €9,120. Mind you, this is for mainland Portugal, and regions of Azores and Madeira have their own minimum wages, as per their autonomous region regulations. Azores has €798 and Madeira has €785, giving them a 105% and 102% of the national minimum wage respectively.
As for 2024, the current narrative, driven by Prime Minister António Costa, is that the national minimum wage next year will go up to €820, a whopping increase of 7.9%. This, the prime minister said, is “the largest annual increase in the minimum wage ever” (source). Resultably, the annual minimum wage will be at €9,840 in 2024, or about £8,570. If the Azores and Madeira will continue the trend of 105% and 102% values, then Azores will be at about €10,332 and Madeira at €10,036. This is all, a friendly reminder, the very bare minimum you can possibly earn in Portugal.
How much do you actually earn in Portugal?
What are the average salaries like?
The average salary for a month’s work in Portugal is around €2,750 in 2023. This means that the Portuguese people earn an average of €33,000 per year. Naturally, the typical fate of an average means that the really high ups inflate it a bit, but we can take it as a general image.
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