Portugal to pay 1.4 lacs as salary bonuses to professionals with degree

Highlights: Portugal announces salary bonuses for recent graduates

• Portugal declared salary bonuses for students who complete their degrees in the country
• Taxpayers with valid degrees will be covered by the premium.
• Apart from recent graduates, the candidates who earned degrees prior to 2023 will also be eligible for salary bonus.
• Salary bonus for bachelor’s degree holders will be €697, and for master’s degree holders will be €1,500.

 

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Salary bonuses increased for professionals with degrees in Portugal

The Portuguese government has officially declared salary bonuses for students who live and complete their bachelor's and master's degrees in Portugal. This incentive, applicable to both foreign residents and Portuguese nationals is designed to enhance qualifications and provide support to recent graduates. The bonus duration will align with the study cycles ensuring that recent graduates receive adequate assistance.

 

The regulations controlling these salary bonuses have been unveiled by Prime Minister Antonio Costa in September and were formally published on December 28.

 

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Student enrolment statistics in Portugal in 2022-2023

According to recent statistics from Directorate–General for Education and Science, a record-high enrolment of 446,028 students was seen for the academic year 2022 – 2023, which is an increase of up to 3% from the previous year.

 

Details about the salary bonuses in Portugal

Taxpayers under the age of 35 residing in Portugal with a bachelor's or master's degree from a national higher education institution are covered by the premium. The coverage extends to both public and private educational institutions.

 

Those candidates who earned their degrees outside Portugal will also be eligible as long as their degrees are recognized in Portugal.

 

The government emphasizes that the assistance is exclusively available to individuals falling into Category A (dependent work) and Category B (self-employed workers).

 

This targeted approach ensures controlled social security and tax statuses, facilitating the implementation of the incentives.

 

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Graduates and Master’s degree holders eligible for salary bonus

Qualified graduates and master's degree holders are eligible for a pay bonus of €697 for bachelor's degree and €1,500 for master's degree, each year.

 

Notably, this premium is not just limited to those graduated recently, and extends support to those who obtained their degrees prior to 2023.

 

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Portugal continues to attract international students

On November 29; the Council of Ministers passed a decree-law formalizing the pay bonus for young individuals completing higher education in Portugal. This decision holds particular significance as the country continues to attract increasing number of foreign students.

 

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Web Story: Portugal to pay 1.4 lacs as salary bonuses to professionals with a degree