Average Salary in Mexico

Table of Contents

How much money can you earn in Mexico working?

A month’s salary for a worker in Mexico is normally somewhere in the neighborhood of 33,200 MXN. The starting salary is 8,410 MXN and may go up to 148,000 MXN.

For most people, this is the usual monthly salary once housing, transportation, and other perks are included in. There is a wide disparity in wages across different sorts of jobs.

For instance, a construction worker in Mexico earns an average salary of around 10,500 MXN while a software engineer may make up to 55,000 MXN.

Workers in Mexico City earn an average of 40,640 MXN. Salaries in the capital city are about 20% higher than in the rest of the country. For instance, a manager in Mexico City may earn around 60,000 MXN per month while someone with the same position in another city may only make 48,000 MXN.

The cost of living in Mexico is relatively low, especially when compared to developed countries. A person can live comfortably on a salary of 33,200 MXN. With a bit of planning and budgeting, it is possible to save up some money each month.

The average salary in Mexico is expected to rise in the coming years as the economy continues to grow. More jobs are being created and businesses are doing better. This is good news for workers in Mexico as they will be able to earn more money and improve their standard of living.

If you’re considering working in Mexico, research the average salary for your desired profession and compare it to the cost of living in different parts of the country.

A Breakdown of How Salaries Are Distributed in Mexico

Salary Range

There is a wide variety of salaries available in Mexico, starting at 8,410 MXN per month and going up to 148,000 MXN per month. The average salary in Mexico is 43,700 MXN per month, around 2,210 USD.

The lowest 10% of earners make less than 8,410 MXN per month, while the highest 10% of earners make more than 148,000 MXN per month. The median salary in Mexico is 28,500 MXN per month, around 1,460 USD.

Median Income

This indicates that half of the population earns less than 32,600 MXN per month, while the other half earns more than 32,600 MXN per month. The pay figure that falls somewhere in the center is what we mean by the median.

The median income in Mexico is lower than the median income in some other Latin American countries, such as Brazil and Argentina. However, it is higher than the median income in other countries in the region, such as Guatemala and Honduras.

Income Inequality

Mexico has a high level of income inequality. The Gini coefficient, which is a measure of income inequality, is 0.48. This means that Mexico is a country with a high level of income inequality.

The Gini coefficient is calculated using data on the incomes of households. The value can range from 0 to 1, with 0 indicating perfect equality and 1 indicating perfect inequality. A value of 0.48 indicates that there is a wide gap between the richest and poorest households in Mexico.

According to the OECD, the Mexican government spends more on social welfare programs than any other Latin American country. However, these programs have not been effective in reducing income inequality.

Percentiles

In Mexico, 25% of the population earns less than 18,400 MXN a month, whilst 75% earn more. This means that the top 25% of earners in Mexico make more than 5 times as much money as the bottom 75% of earners.

The top 10% of earners make more than 148,000 MXN a month, which is around 7 times as much as the bottom 10% of earners.

The richest 1% of Mexicans earn more than 691,000 MXN a month, which is around 35 times as much as the poorest 1% of Mexicans.

As you can see, there is a large gap between the rich and the poor in Mexico. The richest 10% of Mexicans earn around 20 times as much as the poorest 10%. And the richest 1% earn around 35 times as much as the poorest 1%.

This high level of income inequality is one of the main challenges facing Mexico today.

What are the important distinctions between the average salary and the median income?

In Mexico, the average salary is defined as the sum of all salaries divided by the number of employees.

The median income is the amount earned by the person in the middle of the distribution when everyone is ranked from highest to lowest. In other words, half of the workers earn less than the median worker, and half earn more.

To put it another way, the median income is a better indicator of what the majority of employees receive, whereas the average wage may be affected by a few high earners.

Comparison of Wages in Mexico Based on Years of Work Experience

What kind of changes may be expected in a person’s wage throughout the course of their career?

The information shows the average salary in Mexico according to years of work experience, from 1 year up to 20 years or more.

As expected, wages tend to grow with experience. The biggest changes are seen in the first 5 years when workers’ salaries almost double. After that, the increases are smaller but still significant, reaching around 30% after 10 years, and 50% after 15 years.

The data also reveal some important differences between men and women. In general, women’s salaries are lower than men’s at all levels of experience.

However, the gender gap is much narrower among workers with 1-5 years of experience, where women’s salaries are only around 10% lower than men’s. The gap widens significantly after that, reaching almost 30% after 20 years.

These results suggest that there is still a long way to go in terms of gender equality in the Mexican labor market. However, the data also show that progress is being made, particularly among younger workers.

Comparison of Wages in Mexico Based on Level of Education

What kind of an impact does your degree of education have on your salary?

In general, the more educated you are, the higher your salary will be in Mexico. However, there are some exceptions to this rule.

For example, despite having a higher level of education, women earn less than men in Mexico. In fact, the gender wage gap in Mexico is one of the highest in the world. On average, Mexican women earn just 61% of what men earn.

Based on their degree of education, men and women in Mexico are shown in the following table:

Primary – 17,742 MXN
Secondary – 21,068 MXN
Tertiary – 25,836 MXN

As you can see, even at the tertiary level, women earn significantly less than men. In fact, for every peso a man earns with tertiary education, a woman only earns about 76 cents.

So overall, while it is true that your level of education does have an impact on your salary in Mexico, there are other factors that come into play as well. Gender, for example, is a major factor that determines how much you will earn.

Mexico Gender Salary Comparison

On the whole, men workers in Mexico earn 14% more than their female colleagues. This is in line with the global gender pay gap of around 15%.

When we compare salaries by gender, it’s clear that men earn more money than women in every single industry and job role in Mexico. The biggest gender pay gaps are found in the fields of mining and quarrying (where men earn 43% more than women), followed by construction (36%), and information and communication (34%).

At the other end of the spectrum, women actually out-earn men in activities such as human health and social work (by 5%), education (4%), and arts, entertainment, and recreation (2%).

Across all industries, the average man in Mexico earns MXN 17,391 per month, while the average woman earns MXN 15,129. This means that men earn around 14% more than women.

When we compare salaries by age group, it’s clear that elderly workers tend to earn more than their younger colleagues. The biggest salary gaps are found among workers aged 55-64 (who earn 34% more than those aged 25-34), followed by those aged 45-54 (32%), and those 65 and over (30%).

At the other end of the spectrum, workers aged 35-44 actually earn 3% less than those aged 25-34. Across all age groups, the average worker in Mexico earns MXN 16,542 per month.

When we compare salaries by educational attainment, it’s clear that those with a higher level of education tend to earn more than their less-educated counterparts.

The biggest salary gaps are found among workers with a tertiary education (who earn 38% more than those with no formal schooling), followed by those with some secondary schooling (28%), and those with primary education (26%).

At the other end of the spectrum, workers with an upper secondary education actually earn 5% less than those with no formal schooling.

Across all educational attainment levels, the average worker in Mexico earns MXN 16,010 per month.

Average Yearly Pay Increase Rate in Mexico

How much do yearly wage increases in Mexico cost? How frequently are workers given raises?

Salary increases in Mexico typically occur every 18 months, with an average of 8%. When it comes to bonuses, the amount given to employees depends on a number of factors, such as company size and industry. This is also the case in Mexico, where the average bonus is equal to 8% of an employee’s salary.

In terms of paid vacation days, Mexican workers are entitled to 10 per year on average, but this varies depending on the company and the length of service.

When it comes to benefits, Mexican workers are typically given health insurance and a pension plan. However, the amount of coverage and the type of benefits vary depending on the company.

In general, salaries in Mexico are lower than in other developed countries. There are a number of factors that can affect how much a worker earns, such as experience, education, location, and industry.

Mexico Annual Increase Rate by Business

Healthcare – 7%
Energy – 5%
Agriculture – 3%
Information Tehnology – 3%
Telecommunications – 2%
Retail and Marketing – 1.5%
Banking and Insurance – 1.2%
Entertainment and Tourism – 0.8%

The average salary in Mexico is expected to increase by 4.5% in, according to a recent study conducted by the Mexican Chamber of Commerce. This projected increase is higher than the Latin American average of 3.9% but lower than the global average of 5%.

The highest salaries are expected in the healthcare, energy, agriculture, information technology, telecommunications, retail and marketing, banking, and insurance sectors. The lowest salaries are expected in the entertainment and tourism industries.

Average Salary Increase Rates by Level of Experience

Junior-level workers are set to receive the highest average salary increase in, with a projected 5.8% year-over-year growth. Mid-level workers will see their salaries grow by an average of 4.7%, while senior-level employees can expect to receive a 3.9% raise.

Remember that these are only averages, and your actual salary increase will depend on a number of factors including your individual experience, skills, and performance.

With that said, let’s take a look at some of the highest-paying jobs in Mexico for:

1. Investment Bankers

Investment bankers are among the highest-paid professionals in Mexico. They advise clients on financial matters related to investments and help them raise capital. The average salary for an investment banker in Mexico is MXN 145,000 per year.

2. Management Consultants

Management consultants provide advice to organizations on how to improve their efficiency and effectiveness. They help companies streamline their operations and improve their bottom line.

The average salary for a management consultant in Mexico is MXN 140,000 per year.

3. Financial Analysts

Financial analysts provide insights and recommendations to organizations about potential investments and other financial decisions.

They use their knowledge of financial markets to help companies make the best possible decisions. The average salary for a financial analyst in Mexico is MXN 135,000 per year.

4. Market Research Analysts

Market research analysts study market trends and collect data about consumers’ buying habits. They use this information to help companies develop marketing strategies and make better business decisions. The average salary for a market research analyst in Mexico is MXN 130,000 per year.

5. Human Resources Managers

There are a variety of roles that human resources managers play in a business. Recruitment, interviewing, and employment of new personnel are handled by these people.

Other responsibilities include human resources, compensation plans, and training. Human resources managers in Mexico get average yearly pay of MXN 125,000.

These are just some of the highest-paying jobs in Mexico for. If you’re looking to make a career change or earn a higher salary, these are some good options to consider.

Mexican Bonus and Incentive Rates

How much are the bonuses, and how frequently do they get handed out?

In Mexico, 49% of employees were asked whether they got any bonuses or incentives in the preceding year, while 51% claimed they had received at least one monetary bonus.

Bonuses received by employees ranged from 3% to 6% of their yearly salaries. The most common bonus was given out for the length of service, with nearly half (47%) of those surveyed receiving this type of bonus. Mexico had the fourth-lowest percentage of employees who received a sign-on bonus, at only 5%.

In addition to bonuses, 28% of respondents reported receiving stock options as part of their compensation package, while another 7% were given restricted stock units. Long-term incentive payouts were less common, with only 12% of employees surveyed claiming to have received such compensation in the previous year.

When it comes to vacation days, the average Mexican worker is entitled to 22 days of paid time off per year. This number is on par with the global average but falls behind some other countries in Latin America, such as Brazil (30 days) and Argentina (28 days).

Various Forms of Bonuses in Mexico

Compensation Based on Employees’ Achievements

There are different types of bonuses in Mexico. The most common ones are based on employees’ achievements. For example, a company may give a bonus to an employee who meets or exceeds the targets set for him or her. This type of bonus is usually given in the form of a percentage of the employee’s salary.

Other common bonuses include those given for good attendance, completing training courses, and taking on extra assignments. These bonuses are often given in the form of cash payments or vouchers that can be used to purchase items from the company’s store.

Bonuses Based on Company Performance

Some companies also offer bonuses based on the overall performance of the company. For example, if a company achieves its financial goals for the year, all employees may receive a bonus. This type of bonus is usually given in the form of a cash payment or voucher that can be used to purchase items from the company’s store.

Bonuses Based on Department Performance

In some cases, bonuses may be given to employees based on the performance of their department rather than their individual achievements.

For example, if a sales department meets its targets for the year, all members of that department may receive a bonus. This type of bonus is usually given in the form of a cash payment or voucher that can be used to purchase items from the company’s store.

Bonuses Based on Individual Performance

Some companies offer bonuses that are based on an employee’s individual performance.

For example, an employee who consistently meets or exceeds his or her targets may receive a bonus. This type of bonus is usually given in the form of a cash payment or voucher that can be used to purchase items from the company’s store.

Bonuses for the Holidays and at the End of the Year

In addition to the bonuses discussed above, some companies also give bonuses to employees during the holidays or at the end of the year. These bonuses are often given in the form of a cash payment or voucher that can be used to purchase items from the company’s store.

The amount of these bonuses vary depending on the company, but they typically range from 3% to 6% of an employee’s annual salary.

Bonus and Rewards for Different Occupations in Mexico

What aspects of a job make it worthy of a high income, in addition to ample bonus opportunities?

Jobs that are important to company performance, have high levels of responsibility, or are difficult to replace are often rewarded with higher salaries and bonuses.

In Mexico, there are many different types of jobs and industries that fall into these categories. Jobs such as doctors, lawyers, engineers, and executives are often some of the highest-paying positions in the country.

There are also a number of jobs that are important to the Mexican economy that tends to pay well. These include jobs in the oil and gas industry, mining, and manufacturing.

Finally, there are a number of jobs that are difficult to replace and require a high degree of skill. These jobs can be found in industries such as technology, finance, and consulting.

While there are many factors that go into determining how much someone is paid, these three categories are often a good starting point for understanding why certain jobs command higher salaries than others.

Comparison of Seniority-Based Bonuses

Senior-level workers in Mexico are often rewarded with bonuses that are based on their length of service. These bonuses can be a percentage of the worker’s salary, and they are typically given out once a year. Bonuses that are based on seniority are less common in other countries, such as the United States.

In Mexico, workers often receive bonuses that are based on their length of service. These bonuses can be a percentage of the worker’s salary, and they are typically given out once a year. Bonuses that are based on seniority are less common in other countries, such as the United States.

The average bonus for senior-level workers in Mexico is about MXN $5,000 per year. This bonus is typically a percentage of the worker’s salary, and it is given out once a year. Bonuses that are based on seniority are less common in other countries, such as the United States.

In the United States, the average bonus for senior-level workers is about $5,000 per year. This bonus is typically a percentage of the worker’s salary, and it is given out once a year. However, bonuses that are based on seniority are less common in the United States than they are in Mexico.

Pay rates of Mexico’s Most Popular Occupations

Accounting and Finance

Accountant – 22,400 MXN
Accounting Assistant – 18,200 MXN
Accounting Manager – 49,500 MXN
Bookkeeper – 14,800 MXN
Chief Accountant – 73,700 MXN
Controller – 67,200 MXN
Finance Analyst – 28,000 MXN
Finance Manager – 60,600 MXN
Financial Analyst – 26,400 MXN
Investment Banker – 73,200 MXN

Human Resources

HR Administrator – 19,300 MXN
HR Assistant – 17,100 MXN
HR Generalist – 23,200 MXN
HR Manager – 48,900 MXN
Recruiter – 26,800 MXN

Information Technology

Computer Hardware Engineer – 36,000 MXN
Computer Network Architect – 40,500 MXN
Computer Programmer – 27,700 MXN
Computer Systems Analyst – 30,900 MXN
Computer Systems Engineer – 38,700 MXN
Database Administrator – 34,200 MXN
Desktop Support Technician – 21,500 MXN
Information Security Analyst – 39,000 MXN

Network and Computer

Systems Administrator – 35,000 MXN
Network Engineer – 37,500 MXN
Operations Research Analyst – 36,500 MXN
Software Developer – 33,400 MXN
Technical Support Specialist – 22,100 MXN
Web Developer – 26,300 MXN

Marketing and Sales

Advertising Account Executive – 25,800 MXN
Advertising Manager – 48,900 MXN
Brand Manager – 42,600 MXN

Healthcare and Medical

Cardiologist – 41,200 MXN
Dentist – 38,500 MXN
Dietitian or Nutritionist – 22,100 MXN
Emergency Medical Technician (EMT) – 16,400 MXN
Medical Laboratory Technician – 23,700 MXN
Optometrist – 35,000 MXN
Pharmacist – 34,600 MXN
Physical Therapist- 31,300 MXN
Physician or Surgeon- 40,200 MXN
Psychologist – 30,100 MXN
Registered Nurse (RN) – 25,900 MXN
Respiratory Therapist- 26,800 MXN
Veterinarian- 37,600 MXN

Law/Legal

Services
Attorney – 38,100 MXN
Court Reporter – 18,700 MXN
Judge – 84,700 MXN
Law Clerk – 21,000 MXN
Legal Assistant or Paralegal- 26,200 MXN
Mediator- 36,400 MXN
Notary Public- 14,000 MXN
Public Defender- 33,100 MXN

Teacher/Instructor

Elementary School Teacher – 20,600 MXN
Middle School Teacher – 25,700 MXN
High School Teacher – 32,200 MXN
Kindergarten Teacher – 22,500 MNX
Postsecondary Professor – 39,800 MNX
Preschool Teacher – 19.900 MNX
Training and Development Specialist- 28,500 MNX
Transportation
Aircraft Mechanic – 33,100 MXN
Airline Pilot, Copilot, or Flight Engineer – 115,200 MXN
Commercial Pilot – 48,400 MXN
Delivery Truck Driver – 17,700 MNX
taxi Driver – 16,800 MNX
Truck Driver – 24,000 MNX

As you can see, the average salary in Mexico varies depending on the occupation. The salaries for some of the most popular occupations are listed above.

Comparison of Wages from Different Cities

Here are the salaries depending on cities:

Chihuahua – 44,400 MXN
Ciudad Juárez – 42,780 MXN
Monterrey – 40,520 MXN
Tijuana – 36,210 MXN
Mexicali – 35,680 MXN
Hermosillo – 33,930 MXN
Guadalajara – 33,560 MXN
Reynosa – 32,940 MXN
Ecatepec de Morelos- 30,070 MXN
Culiacán – 29,460 MXN

The average salary in Mexico is around 32,000 to 33,000 pesos per month. Wages will depend on the city you work in and your profession. For instance, if you are a doctor working in Monterrey, your salary will be much higher than a doctor working in Ecatepec de Morelos.

In general, salaries in Mexico are not as high as in developed countries such as the United States or Canada. However, the cost of living is also lower in Mexico, so your purchasing power will be greater. For instance, you can buy an apartment for around $200,000 Pesos in Guadalajara which is about $9,600 USD

If you are thinking of moving to Mexico or looking for a job here, it is important to research the average salaries in different cities to get an idea of what you can expect to earn. The salaries listed above are just averages, so there is always the potential to earn more or less depending on your experience and skills.

Hourly Rate of Pay on Average in Mexico

190 MXN is Mexico’s average hourly salary. This means that the average person in Mexico earns 190 Mexican pesos per hour. The hourly rate of pay is the amount of money that a person earns for each hour that they work.

In order to calculate the hourly rate of pay, the total amount of money earned in a week is divided by the number of hours worked. The average hourly salary in Mexico is lower than the hourly salaries in many other countries.

This is because the cost of living in Mexico is lower than the cost of living in other countries. The minimum wage in Mexico is also lower than the minimum wages in other countries.

Comparison of Wages Earned in the Public and Private Sectors

Workers in Mexico’s public sector earn an average of 9% more per year than their private sector counterparts. It’s important to take into account sectoral differences in average pay when comparing the public and private sectors.

Workers are more likely to be employed in lower-paying sectors such as agriculture and manufacturing, while those in the public sector are more likely to work in higher-paying jobs, such as education and health.

In general, government employees also enjoy greater job security and better benefits than private-sector workers. However, public-sector salaries have not kept pace with inflation in recent years, and many government workers are struggling to make ends meet. In some cases, private-sector workers earn more than their counterparts in the public sector.