Portuguese wages set to rise by up to 4%

Millie Owen

Moving to Portugal this year? We have some great news for you! The majority of Portuguese employers are set to increase their budgets to support wage increases of 4% in 2023.

 

The Portugal News (leading English news agents in Portugal) predicts that the majority of Portuguese employers are planning to increase their budgets to support wage increases of 4% in 2023. This has increased in a bid to attract and retain talent in a context of high inflation and a highly competitive labour market.

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The expected increase in salaries for 2023 is higher than the average increase of 3.2% in salary budgets allocated in 2022.

Despite the struggle in the current economic climate, many employers are increasing their salary budgets to keep the roles attractive and boost talent retention.

The hiring forecast suggests that around half (52%) of employers plan to recruit new professionals for sales roles in the next 12 months, while 44% are hiring for IT roles and 39% intend to recruit more engineering professionals.

This is great news for anyone looking to relocate to Portugal in 2023 but sceptical about the job market.

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Working in Portugal

A guide to working in Portugal, from work visas, to finding a job and Portuguese work culture.

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