Salary in Portugal 2024: What to Expect

In Portugal, the average salary declared to Social Security by employees increased by 7.2% in 2023, reaching 1,463 euros, according to data from the Ministry of Labor, Solidarity, and Social Security.

According to a recent study by Lusa, the average monthly salary for dependent work in Portugal increased from 1,365 euros in 2022 to 1,463 euros in 2023, reflecting a gross rise of 98 euros.

This increase in 2023, attributed partly to the adjustment of the national minimum wage, saw a substantial boost of 55 euros (7.8%), bringing it to 760 euros (presently set at 820 euros).

Furthermore, this uptick surpassed the average inflation rate for 2023, which stood at 4.3%, as measured by the National Statistics Institute (INE).

Ana Mendes Godinho emphasizes that in 2023, revenue from contributions surged by 12.5% compared to the preceding year, reaching 25,107.7 million euros. This growth, she explains, is attributed to the increase in the average salary (7.2%) and the expansion of employment (5%).