Portugal National Minimum Wage - NMW 2023 (2024)

FAQs

What will be minimum wage in 2023 in Portugal? ›

Minimum Wages in Portugal increased to 887 EUR/Month (966.916 USD/Month) in the first quarter of 2023. The maximum rate of minimum wage for employees was 776 EUR/Month and minimum was 357 EUR/Month. Data published Quarterly by Eurostat.

The current minimum wage in Portugal is €760.00 per month in 2023. It became valid on January 1, 2023. The amounts are in Euro.

The minimum wages have been revised in Portugal with effect from 01 January 2023. The minimum wage is increased as follows: For national (continent), from €705.00 to €760.00 per month and €9,870.00 to €10,640.00 per year; and.

As U.S. inflation trends downward in 2023, the projected average total salary increase has risen to 4.6%.

Though down from the actual increase of 4.4% in 2023, the numbers remain higher than the 3.1% salary increase budget in 2021 and years prior. We've compiled opportunities to participate in 2024 salary planning surveys. Most firms provide complimentary survey reports to eligible participants.

If you are single, you can get by comfortably with €1,200 a month in Porto or Lisbon, and even less in Portugal's smaller towns. With a higher income, you can live anywhere in Portugal with €3,000 a month, participate in various activities, go on weekend trips, and much more.

The average salary in Portugal for the most recent year (2022) is 33,000 EUR per year. That's around 32,117.04 USD per year according to the October 2022 exchange rates.

In the long-term, the Portugal Average Net Monthly Wage is projected to trend around 1078.00 EUR/Month in 2024 and 1098.00 EUR/Month in 2025, according to our econometric models.

This measure extends these annual increases ($1.00 per year) until minimum wage—currently, $15.00 per hour for businesses with 26 or more employees, and $14.00 per hour for smaller businesses—reaches $18.00 per hour.

U.S. average hourly earnings of nonfarm payroll employees 2023, by industry. In May 2023, the average hourly earnings for all employees on private nonfarm payrolls in the United States stood at 33.44 U.S. dollars. The data have been seasonally adjusted.

What is Texas minimum wage 2023? ›

Texas states minimum wage for 2023 is $7.25 / hour. This is the same as the current Federal Minimum Wage rate.

Portugal's average income is €1,200 per month. Service workers receive an average of €600 per month, while professionals receive up to €3,000.

Having a university degree ensures a higher salary in Portugal. In 2019 the average monthly base salary of a high-level executive was 2,104.3 euros, well over the national average (1,005.1 euros), according to the most recent figures provided by Pordata.

If you were to break it down into hourly pay, it would be approximately €4.40 per hour with a guaranteed two-month bonus each year. Including the bonuses, the average hourly minimum wage in Portugal would be €5.14 per hour.

President Joe Biden signed an executive order on Dec. 23, making the federal pay raise official for many civilian employees in 2023. As anticipated, General Schedule employees will get an across-the-board pay raise of 4.1% in 2023, plus a 0.5% locality pay adjustment, totaling to an average 4.6% pay increase.

The average salary in the United States was $58,260, with an average hourly wage of $28.01, according to the May 2021 National Occupational Employment and Wages Estimates from the BLS. As of 2021, it's estimated that women in the U.S. earn about 83 cents for every dollar that a man earns.

As an American, you need to get a Portuguese residence permit if you're planning to stay there for longer than three months. If you reside in Portugal with a proper residence permit for five years, you can then apply for permanent residency or Portuguese citizenship.

If you have social security credits in both the United States and Portugal, you may be eligible for benefits from one or both countries. If you meet all the basic requirements under one country's system, you will get a regular benefit from that country.

Well known amongst the British as a favorite retirement location, more and more Americans are heading to the southern coast to enjoy the best things in life – sunshine, fresh seafood, and stunning landscapes and beaches. It is also very easy to live an active lifestyle in the Algarve, with 300 days of sunshine.

Portugal is actually considered one of the most affordable countries in Western Europe and is an average of 50 percent cheaper than living in the United States.

How much money do you need to retire to Portugal from the USA? ›

How much money do you need to retire in Portugal? Depending on location and lifestyle, the cost of living in Lisbon can range from $2,000–$3,500 per month. Outside of the bigger cities, you can expect to spend less.

On average, housing in Portugal costs around 1,100 EUR (1,200 USD) in rent per month. This number grew considerably from the 800 EUR (880 USD) registered just a year before. Rent prices will vary greatly depending on the part of the country in which you choose to live and the type of housing you seek.

13th Salary

There are mandatory 13th and 14th salary payments in Portugal, which are paid out in June (for holidays) and December (for Christmas), or can be paid within the 12 regular salaries.

Eating and Living Well

The cost of food is lower in Portugal because the average wage is lower than in places like the US. The typical worker in Portugal makes about €925 per month (based on 2019 figures).

There is no payroll tax contribution in Portugal (i.e., there is no separate tax on employee salaries). The corporate income tax rate is 21%. How does the payroll tax system of Portugal work?

maybe for an 18-year-old $15 an hour is enough,” said J. Paul Leigh, a professor in the Department of Public Health Sciences at the UC Davis School of Medicine. “But it's certainly not enough for a 29-year-old and it's certainly not enough for a 29-year-old with a child.”

The livable wage in California is $21.82 per hour, making it the fifth highest livable wage in the US. California's high livable wage can be attributed to its high cost of living, especially in major cities such as San Francisco and Los Angeles.

Bank of America Accelerates US Minimum Hourly Wage to $22 as Next Step to $25 by 2025. Today, Bank of America announced it has raised its U.S. minimum hourly wage to $22 as a next step in the company's plans to increase to $25 by 2025.

Is 50 an Hour Good? Yes, $50 an hour is actually good pay. To put things into perspective, $50 an hour is almost seven times higher than the federal minimum wage. As of 2022, the Federal minimum wage is $7.25 per hour.

Countries that pay the highest salaries globally are Switzerland, Luxembourg, Singapore, USA.

Is $100 per hour good? ›

“Being able to get $100 an hour is rare,” said Al Lee, the director of quantitative analysis at PayScale.com. The median hourly wage in the U.S. is $16 an hour, he points out, so earning $100 an hour would be more than six times what the average worker makes.

Hourly Minimum Wage for New Mexico and neighboring states in 2023. New Mexico minimum wage rate is $12.00 per hour in 2023. Workers receive a higher minimum wage in New Mexico that exceeds the Federal Minimum Wage of $7.25.

The minimum wage in California is currently $15.50/hour for all employers. Some cities and counties have higher minimum wages than the state's rate. There is a list of City and County minimum wages in California maintained by UC Berkeley.

Portugal's living costs for retirees

You can live comfortably with an estimated €1,300-€1,500 (US$1,500-1,700) per month in small towns or €1,700 ($2,200) in larger urban areas such as Lisbon or Porto. Groceries, eating out, rent, utilities, and health care are especially affordable in Portugal.

Yes, if you live frugally, you should be able to live on $1000 a month in Portugal. However, it may not be possible if you live in Lisbon as costs are increasing, and rental costs are now quite high. If you want to live comfortably in the country, we would recommend €1,200.

A gallon of milk costs around $2.30-2.81, while a dozen eggs typically cost USD$1.72-$2.10. Chicken is fairly affordable at an average of USD$2.18-2.66, while beef costs nearly double that.

Within these three groups, the best paid jobs are in management or executive positions, starting with representatives of the legislative power and of executive bodies, senior managers of public administration, company directors and managers. These earn an average salary of 3,577 euros.

What jobs are most in demand in Portugal? To find a job in Portugal, it's important to consider your own qualifications and work experience first. Many job vacancies require Portuguese language skills, particularly in specialized fields like architecture, accounting, engineering, medicine, and law.

The most popular jobs in Portugal include tourism and hospitality-related work. Many work opportunities are available in retail, dining, customer service, resorts, and hotels. Tech-related jobs in IT are also on the rise in Portugal, and call center work is almost always available.

Why is pay so low in Portugal? ›

Portugal's relatively low productivity, the key driver of economic success, is the main reason. Productivity simply measures output per worker, and countries with high productivity are clearly more efficient at producing goods than low productivity countries, and can thus afford higher wages and salaries.

Some 72% of the Portuguese labor force works more than 40 hours per week, making it the OECD country with the third-longest average workweek after the United Kingdom and Ireland, according to a report from University of London and University of Reading researchers overseeing the program.

If you were to break it down into hourly pay, it would be approximately €4.40 per hour with a guaranteed two-month bonus each year. Including the bonuses, the average hourly minimum wage in Portugal would be €5.14 per hour.

Most countries have a nation-wide minimum wage that all workers must be paid. Portugal's minimum wage rate is €618.33 ($680) per month in 12 payments or €530 per month ($593) in 14 payments for all full-time workers,rural workers,and domestic employees ages 18 and older.

On average, housing in Portugal costs around 1,100 EUR (1,200 USD) in rent per month. This number grew considerably from the 800 EUR (880 USD) registered just a year before. Rent prices will vary greatly depending on the part of the country in which you choose to live and the type of housing you seek.

Depending on location and lifestyle, the cost of living in Lisbon can range from $2,000–$3,500 per month. Outside of the bigger cities, you can expect to spend less. Wester lives comfortably on less than $2000 per month and chronicles her mid-life adventures on her blog, The Hot Goddess.

Can American citizens move to Portugal? Technically you're allowed to enter the country visa-free and stay there for up to 90 days. If you wish to live there long-term, then you need to get a residence permit.

Portugal offers the lowest cost of living in Western Europe, where a couple can live nicely on $2,500 to $3,000 a month outside of the major cities.

If you live frugally and in an affordable part of the country, you should be able to live on $1000 a month. Given the increasing rental prices and housing costs in Lisbon and other major cities, however, it may be difficult to live on $1000 a month in these parts of the country.