From the bright, sun-dappled coastlines to bustling cities and majestic ancient structures, Mexico boasts a world of opportunity.
Just shy of 131 million people live in this North American oasis which is home to 68 different languages – most notably Spanish.
Although it continues to grapple with challenges such as crime and corruption, many are drawn by its steady economic growth. You’lI find that the best averages salary remains competitive in larger metropolitan areas like the capital city of Mexico City where unemployment rates stay low at 3–5%.
That being said, salaries in comparison to the United States or Canada are still fairly low. For a bit of history about the best average salary in Mexico, read on.
What is the minimum wage in Mexico?
The Mexican government is taking action to increase competitiveness and reduce dependency on the United States.
In 2022, the Mexican Government started providing a new minimum wage rate of 213.39 pesos per day (10.5 USD) for Special Economic Zones located near Mexico’s northern border – an impressive 20% hike from last year’s 141.7-peso daily minimum wage (about 7 dollars).
This change will help bring more financial stability to families living inside these special economic zones as well as bolster their economy overall in comparison with that of neighboring countries like the U.S..
However, the salaries still remain low. The National Institute of Statistics and Geography estimates that only 0.5% of Mexican workers make an above-average wage – 74,112 pesos (roughly $3,655) per month.
Wages are still relatively small compared with those seen in developed nations such as the United States and Canada.
Mexico’s bustling cities generally offer an average monthly salary ranging from 8,000 to 12,000 pesos. That translates into approx $600 US at the time of this writing.
Mexico Minimum Wage History
In 2009, the Mexican government raised the minimum wage by 5.5 percent in an effort to combat high inflation rates and help families keep up with the cost of living.
The hourly minimum wage has remained relatively the same since then, despite increases in the cost of living.
In 2018, Mexico’s minimum wage was $4.25 per hour, which is less than half of the U.S. federal minimum wage. Despite its low hourly rate, Mexico’s minimum wage is still higher than many other countries in Latin America. For example, Brazil’s minimum wage is approximately $1 per hour, and Nicaragua’s is only $0.61 per hour.
The Average Salary in Mexico City
With Mexican salaries ranging from a meager 8,410 MXN to an impressive 148,000 MXN per month on average nationally, the best average salary in Mexico varies significantly depending on location.
Mexico City’s and Guadalajara’s inhabitants can expect much higher incomes of around 44,600MX in relation to smaller cities such as Cancun.
This is just a general estimate, remember there will be variations from this average depending on job type and level of eduction.
Average Salary in Mexico
| Type of Wages | Average Monthly Salary | Time Period |
|---|---|---|
| Average Salary Minimum Wages | 480 MXN/Day | 519.00 USD Month 173 MXN/Day | 187.00 USD Month | October 2022 Nov 2022 |
| Manufacturing Wages | 3.1 USD/Hour | 496 USD Month | October 2022 |
| Low Skilled Wages | 5390 MXN/Month | 234.00 USD Month | 2018 |
| Highly Skilled Wages | 17200 MXN/Month | 746.00 USD Month | 2018 |
What are income taxes in Mexico?
Whether you’re a resident or non-resident of Mexico, your income is subject to taxation – with rates ranging from a meager 1.92% up to an eye-watering 35%.
Those residing outside the country and earning more than one million pesos per year, they should be aware that their earnings will face taxes at as high as 30%.
Wage Comparison by Education
Investing in higher education may be the best way to secure your financial future. Recent data shows that those who complete Bachelor’s or Master’s degrees often enjoy significantly greater earnings than their diploma-holding counterparts, while Ph.D. holders can expect even more lucrative returns on investment!
Mexico Minimum Wage increase
On December 1, 2022, a monumental agreement was reached between the Mexican government, the business sector, and labor organizations. After months of hard work to negotiate an equitable solution for all parties involved, President Andres Manuel Lopez Obrador announced that Mexico would be raising its minimum wage by 20%.
This significant increase will take effect in 2023 and is sure to bring some small measure of financial relief to countless families across the country.
Starting in early 2023, the daily minimum wage for workers across Mexico will be increased by 10 percent. In particular, employees of the Zona Libre de Francisco Madero (ZLFN) could expect to earn MXN $312.41 (roughly USD $16.11), while those outside this region can anticipate a rate of around MXN$207.44.
Overall, these adjustments are hoped to should result in more a bit more equal wages nationwide!
Mexico has a long way to go in terms of salaries, but the country is slowly making progress. Mexicans are slowly but surely earning more money, although there is still a lot of room for improvement.
The Peso’s value relative to other currencies is also something that Mexican workers need to take into account when evaluating their earnings.
In the end, it is important to remember that salary is not everything – job satisfaction, working conditions and many other factors play a role in determining whether or not a person enjoys their work.
The Life of a Mexican Worker
The life of a Mexican worker can be difficult. They are constantly working to make ends meet and provide for their families. However, they are also incredibly resilient and hardworking.
They are the backbone of the Mexican economy and without them, the country would not be able to function. That being said I’m sure there is not a single one that wouldn’t like to make a higher wage.
So there you have it. What do you think about the amount of money that is considered an average wage in Mexico?
Do you think that Mexico’s salaries are fair? Let us know in the comments below!
Hi I’m Shannon!
Hi, I’m Shannon and I’m a Canadian who fell in love with Mexico on my first trip to Puerto Vallarta when I was a young adult.
That started a 30 year love affair with this country which led to marrying my Mexican husband and building a home in Mexico. And now I have even a stronger connection to this gorgeous and complex country.
