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The Portuguese government has introduced an innovative initiative to incentivize education, unveiling a salary bonus for individuals completing their bachelor’s and master’s degrees while residing in the country. This progressive step, highlighted under “Portugal Education,” aims to elevate qualifications and is open to both Portuguese nationals and foreign residents. This strategic move underscores the government’s commitment to fostering education, nurturing talent, and making Portugal an attractive destination for learners. The bonus duration aligns with the respective study cycles, offering tangible support for recent graduates and extending its benefits to those who obtained their academic degrees before 2023.
Prime Minister Antonio Costa outlined the ordinance in September, and it was officially published on December 28, delineating the rules governing these salary bonuses. This measure reflects Portugal’s proactive approach to investing in its human capital and creating an environment that values education.
The scope of the premium extends to all taxpayers under the age of 35 residing in Portugal, who have completed their bachelor’s and/or master’s degrees in national higher education institutions. This inclusive approach encompasses both public and private institutions, with a noteworthy provision for academic degrees obtained abroad, as long as they are recognized in Portugal.
The government has emphasized that the support is exclusively dedicated to individuals falling under Category A (dependent work) and Category B (self-employed workers). This strategic focus ensures a targeted approach with regulated tax and social security statuses, aligning with the broader goal of fostering sustainable economic growth.
Eligible graduates and master’s degree holders are entitled to receive an annual salary bonus of €697 for each year of their bachelor’s degree and €1,500 for each year of their master’s degree. Importantly, this premium is not limited to recent graduates; individuals who earned their degrees before 2023 can claim the bonus, provided the number of years following the award of the academic degree is less than the study cycle’s duration. This forward-looking policy seeks to encourage continuous education and skill development throughout one’s career.
The Council of Ministers formally ratified this forward-looking policy on November 29, approving a decree-law creating the salary premium for young individuals completing higher education in Portugal. The significance of this move is underscored by Portugal’s increasing appeal to international students, as evidenced by recent statistics from the Directorate-General for Education and Science. The data reveals a record-high enrollment of 446,028 students during the 2022/23 academic year, indicating a three percent increase compared to the previous year.
In summary, Portugal’s introduction of salary bonuses for bachelor’s and master’s graduates underscores the government’s commitment to education, talent development, and attracting a diverse pool of students. This initiative not only supports recent graduates but also recognizes the ongoing value of education throughout one’s career, contributing to the nation’s intellectual capital and sustainable growth.
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