The program extends to all taxpayers below the age of 35 residing in Portugal, encompassing both native and international graduates.
The program extends to all taxpayers below the age of 35 residing in Portugal, encompassing both native and international graduates.
The Portuguese government has officially implemented a program offering salary bonuses to graduates who choose to work in the country after completing their bachelor’s or master’s degrees.
The announcement, initially proposed by Prime Minister António Costa in September, was formalized on Dec. 28, 2023, through a publication in Diário da República, Portugal’s official gazette, the Erudera reported.
The program is exclusively designed for residents of Portugal who have earned bachelor’s or master’s degrees from both public and private higher education institutions in the country.
Eligible graduates will receive an annual salary bonus of €697 (approximately $761) for each year of their bachelor’s studies and €1,500 (approximately $1,639) for each year of their master’s degree, the report said.
To facilitate these payments, the funds will be transferred annually by the Tax Authority, and recipients will be exempt from Income Tax or Social Security contributions. The duration of the bonus will align with the number of years graduates dedicated to their respective study cycles.
The initiative is not limited to recent graduates, as those who obtained their academic degrees before 2023 may also qualify. However, the eligibility criteria for these individuals stipulate that the time elapsed since graduation should not exceed the duration of their bachelor’s or master’s degree.
The government also said that the program extends to all taxpayers below the age of 35 residing in Portugal, encompassing both native and international graduates. Even students holding degrees from foreign institutions can qualify, provided their diplomas are recognized in Portugal.
The bonus applies to individuals falling under categories A (dependent work) or B (self-employed workers), with their tax and contribution status regulated by the tax authority and social security.
Prospective applicants are required to submit their bonus applications through an electronic form after completing their studies.
Record enrollment
Portugal has hit a historic high in higher education enrollment, with 446,028 students for the academic year 2022-2023 – a 3 percent increase from the previous year, the Schengen Visa reported. The surge continues the trend seen since the 2015-2016 academic year, showing a 24 percent growth.
Breaking down the numbers, 359,397 students enrolled in public higher education and 86,631 in private institutions.
Among public higher education, 223,564 opted for universities, and 135,833 for polytechnics. Key preferences include “Business Sciences, Administration and Law” (22 percent), “Engineering, Manufacturing, and Construction” (20 percent), and “Health and Social Protection” (16 percent).
Enrollment in master’s and doctoral programs also saw an increase, with 82,610 in master’s and 25,202 in doctoral programs. Of the total, 155,082 are first-time registrants in the first year.
International engagement was also notable, with 17,822 students participating in programs like Erasmus, indicating a post-pandemic trend.
Portugal’s attractiveness to international students is evident, with 74,597 students from abroad, constituting 17 percent of the total enrollment.
These results align with Portugal’s education goals, targeting 60 percent enrollment of 20-year-olds in higher education by 2030 and 50 percent of 30 to 34-year-olds holding college degrees.
Employed population
In 2022, Portugal also surpassed the Europe Strategy 2020 target, with 44 percent of residents aged 30 to 34 holding tertiary education degrees in 2021, exceeding the goal by four percent.
The achievement was accompanied by a decrease in the unemployment rate among graduates, reaching a record low of 5.3 percent. The employed population with tertiary education has also increased by 13 percent between 2020 and 2021, totaling an additional 200,000 graduates.
The overall higher education rate for the employed population stands at 34 percent, showcasing an increase of 520,000 graduates employed between 2015 and 2021.
The Lisbon Metropolitan Area leads with the highest educated employed population at 44 percent, followed by other regions such as the Center, North, and Algarve.
