Portugal Introduces Salary Bonuses for BS and MS degree

Web DeskJanuary 1, 2024
Portugal Introduces Salary Bonuses for BS and MS degree

In a bid to bolster educational achievements and attract both local and foreign residents, the Portuguese government has unveiled a groundbreaking initiative: salary bonuses for students accomplishing their bachelor’s and master’s degrees within the country.

Key Details:

  • Scope of Initiative: The scheme is open to both Portuguese citizens and foreign residents, granting a salary bonus aligned with the duration of their respective study cycles.
  • Eligibility Criteria: Even graduates who earned their academic degrees before 2023 can benefit, provided the elapsed duration doesn’t exceed their degree completion timeframe.
  • Official Rollout: Prime Minister Antonio Costa initially disclosed this plan in September, and its official implementation commenced on December 28.
  • Beneficiaries: Applicable to taxpayers up to the age of 35 who graduated from national higher education institutions post-2023 or secured equivalent degrees abroad, recognized within Portugal.

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  • Targeted Categories: The bonuses are specifically directed towards Category A (dependent work) and Category B (self-employed) individuals with regulated tax and social security statuses.
  • Monetary Incentives: Graduates meeting the specified criteria stand to receive €697 annually for bachelor’s degrees and €1,500 annually for master’s degrees.
  • Retrospective Benefits: Even graduates predating 2023, meeting the prescribed conditions, are eligible to claim these bonuses.
  • Legislative Approval: The decree law endorsing this incentive was ratified by the Council of Ministers on November 29, reflecting Portugal’s earnest endeavor to stimulate higher education completion.
  • Enrollment Trends: Portugal has seen a surge in international student enrollment, with figures for the 2022/23 academic year reaching a record high of 446,028 students, marking a three percent upsurge from the prior year.

This progressive move by Portugal aims to not only elevate educational standards but also entice a broader pool of local and global talent, aligning with the nation’s vision to foster a competitive and knowledge-driven workforce.

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