Portugal Unveils Salary Bonuses for BS and MS Degree
In an effort to boost educational attainment and attract both local and international residents, the Portuguese government has introduced an innovative initiative: salary bonuses for individuals completing their bachelor’s and master’s degrees within the country.
- Initiative Scope: Open to both Portuguese citizens and foreign residents, offering salary bonuses based on the duration of their respective study cycles.
- Eligibility Criteria: Graduates who earned degrees before 2023 can benefit, as long as the elapsed duration does not exceed their degree completion timeframe.
- Official Launch: Prime Minister Antonio Costa announced the plan in September, and it officially began on December 28.
- Beneficiaries: Applicable to taxpayers under 35 who graduated post-2023 from national higher education institutions or earned equivalent degrees abroad, recognized in Portugal.
- Targeted Categories: Bonuses are directed at Category A (dependent work) and Category B (self-employed) individuals with regulated tax and social security statuses.
- Monetary Incentives: Eligible graduates may receive €697 annually for bachelor’s degrees and €1,500 annually for master’s degrees.
- Retrospective Benefits: Even graduates predating 2023 can claim bonuses if they meet the specified conditions.
- Legislative Approval: The decree law supporting this incentive was ratified by the Council of Ministers on November 29, reflecting Portugal’s commitment to promoting higher education.
- Enrollment Trends: Portugal experienced a surge in international student enrollment, reaching a record high of 446,028 students for the 2022/23 academic year, a three percent increase from the previous year.
This progressive move by Portugal aims to raise educational standards and attract a diverse pool of local and global talent, aligning with the nation’s vision to cultivate a competitive and knowledge-driven workforce.