Financial Analyst Average Salary in Mexico 2022
How much money does a Financial Analyst make in Mexico?
LOW
21,600
MXN AVERAGE
40,700
MXN HIGH
61,800
MXN
A person working as a Financial Analyst in Mexico typically earns around 40,700 MXN per month. Salaries range from 21,600 MXN (lowest) to 61,800 MXN (highest).
This is the average monthly salary including housing, transport, and other benefits. Financial Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Analyst Salary Distribution in Mexico
The median, the maximum, the minimum, and the range
Salary Range
Financial Analyst salaries in Mexico range from 21,600 MXN per month (minimum salary) to 61,800 MXN per month (maximum salary).
Median Salary
The median salary is 38,200 MXN per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 38,200 MXN while the other half are earning more than 38,200 MXN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Percentiles
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Financial Analyst(s) are earning less than 26,900 MXN while 75% of them are earning more than 26,900 MXN. Also from the diagram, 75% of Financial Analyst(s) are earning less than 47,000 MXN while 25% are earning more than 47,000 MXN.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
Financial Analyst Salary Comparison by Years of Experience
How does experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Financial Analyst salaries by experience level and this is what we found.
A Financial Analyst with less than two years of experience makes approximately 24,800 MXN per month.
While someone with an experience level between two and five years is expected to earn 30,400 MXN per month, 23% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 43,100 MXN per month, 42% more than someone with two to five years of experience.
Additionally, Financial Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 50,300 MXN per month, 17% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 55,400 MXN per month, 10% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 58,600 MXN per month, 6% more than people with fifteen to twenty years of experience.
Financial Analyst average salary change by experience in Mexico
| 0 - 2 Years | 24,800 MXN | |
| 2 - 5 Years | +23% | 30,400 MXN |
| 5 - 10 Years | +42% | 43,100 MXN |
| 10 - 15 Years | +17% | 50,300 MXN |
| 15 - 20 Years | +10% | 55,400 MXN |
| 20+ Years | +6% | 58,600 MXN |
Typical Salary Progress for Most Careers
Financial Analyst Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Financial Analyst(s) who have the same experience but different education levels.
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Financial Analyst salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Financial Analyst is 30,000 MXN per month.
While someone with a Certificate or Diploma gets a salary of 34,000 MXN per month, 13% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 44,500 MXN per month, 31% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 58,600 MXN per month, 32% more than someone with Bachelor's Degree.
Financial Analyst average salary difference by education level in Mexico
| High School | 30,000 MXN | |
| Certificate or Diploma | +13% | 34,000 MXN |
| Bachelor's Degree | +31% | 44,500 MXN |
| Master's Degree | +32% | 58,600 MXN |
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Mexico costs anywhere from 166,000 Mexican Peso(s) to 498,000 Mexican Peso(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Financial Analyst Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Financial Analyst employees in Mexico earn 12% more than their female counterparts on average.
| Male | 42,500 MXN | |
| Female | -11% | 37,800 MXN |
Salary Comparison By Gender in Mexico for all Careers
Financial Analyst Average Annual Salary Increment Percentage in Mexico
How much are annual salary increments in Mexico for Financial Analyst(s)? How often do employees get salary raises?
Financial Analyst
Financial Analyst(s) in Mexico are likely to observe a salary increase of approximately 11% every 18 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
Mexico / All Professions
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Annual Increment Rate By Industry 2021
| Banking | 4% | |
| Energy | 8% | |
| Information Technology | 3% | |
| Healthcare | 7% | |
| Travel | 2% | |
| Construction | 6% | |
| Education | 1% |
Listed above are the average annual increase rates for each industry in Mexico for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Worldwide Salary Raises: All Countries and All Jobs
Financial Analyst Bonus and Incentive Rates in Mexico
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/accounting-and-finance/financial-analyst/annual-salary-bonus-rate-mexico-financial-analyst.jpg
A Financial Analyst is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
48% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 52% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.
| Received Bonus | 52% | |
| No Bonus | 48% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Financial Analyst Average Hourly Wage in Mexico
230 MXN per hourThe average hourly wage (pay per hour) in Mexico is 230 MXN. This means that the average Financial Analyst in Mexico earns approximately 230 MXN for every worked hour.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
Financial Analyst VS Other Jobs
The average salary for Financial Analyst is 19% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Account Examiner | 17,500 MXN |  -57% |
| Account Executive | 28,900 MXN | -29% |
| Accountant | 22,400 MXN | -45% |
| Accounting Assistant | 18,200 MXN | -55% |
| Accounting Associate | 16,400 MXN | -60% |
| Accounting Clerk | 14,300 MXN | -65% |
| Accounting Coordinator | 21,000 MXN | -48% |
| Accounting Manager | 49,500 MXN |  +22% |
| Accounting Supervisor | 33,900 MXN | -17% |
| Accounting Technician | 17,200 MXN | -58% |
| Accounts Executive | 28,800 MXN | -29% |
| Accounts Payable and Receivable Specialist | 23,500 MXN | -42% |
| Accounts Payable Clerk | 18,000 MXN | -56% |
| Accounts Payable Manager | 45,000 MXN | +11% |
| Accounts Receivable Clerk | 17,600 MXN | -57% |
| Accounts Receivable Manager | 47,800 MXN | +18% |
| Assistant Accounting Manager | 43,500 MXN | +7% |
| Assistant Auditor | 23,800 MXN | -41% |
| Audit Supervisor | 44,700 MXN | +10% |
| Auditing Clerk | 19,200 MXN | -53% |
| Auditing Manager | 48,800 MXN | +20% |
| Billing Coordinator | 20,900 MXN | -49% |
| Billing Specialist | 24,800 MXN | -39% |
| Billing Supervisor | 36,500 MXN | -10% |
| Bookkeeper | 14,800 MXN | -64% |
| Bookkeeping Specialist | 23,500 MXN | -42% |
| Budget Analyst | 40,100 MXN | -1% |
| Budget Manager | 50,000 MXN | +23% |
| Business Support Analyst | 26,800 MXN | -34% |
| Capital Markets Associate | 34,400 MXN | -15% |
| Cash Flow Analyst | 34,400 MXN | -15% |
| Cash Management Officer | 28,300 MXN | -30% |
| Cashbook Clerk | 15,300 MXN | -62% |
| Chartered Accountant | 29,600 MXN | -27% |
| Collections Clerk | 15,100 MXN | -63% |
| Collections Specialist | 23,500 MXN | -42% |
| Corporate Treasurer | 44,100 MXN | +8% |
| Cost Accountant | 24,000 MXN | -41% |
| Cost Accounting Manager | 47,700 MXN | +17% |
| Cost Analyst | 36,000 MXN | -11% |
| Credit and Collection Manager | 48,400 MXN | +19% |
| Credit and Collection Staff | 18,100 MXN | -55% |
| Credit and Loans Officer | 17,000 MXN | -58% |
| Credit Controller | 32,700 MXN | -20% |
| Debt Adviser | 38,400 MXN | -6% |
| Debt Collector | 19,400 MXN | -52% |
| Debtors Clerk | 15,500 MXN | -62% |
| Deputy CFO | 65,000 MXN | +60% |
| Derivative Trader | 42,200 MXN | +4% |
| Escrow Assistant | 20,500 MXN | -50% |
| External Auditor | 34,200 MXN | -16% |
| Finance Associate | 19,900 MXN | -51% |
| Finance Executive | 51,800 MXN | +27% |
| Finance Licensing Clerk | 16,800 MXN | -59% |
| Finance Licensing Manager | 46,200 MXN | +14% |
| Finance Licensing Specialist | 24,600 MXN | -40% |
| Finance Officer | 23,100 MXN | -43% |
| Finance President | 69,300 MXN | +70% |
| Finance Relationship Manager | 55,000 MXN | +35% |
| Finance Release Analyst | 25,700 MXN | -37% |
| Finance Team Leader | 52,400 MXN | +29% |
| Financial Actuary | 37,700 MXN | -7% |
| Financial Administrator | 39,700 MXN | -2% |
| Financial Analyst | 40,700 MXN | +0% |
| Financial Applications Specialist | 29,500 MXN | -27% |
| Financial Assistant | 19,800 MXN | -51% |
| Financial Associate | 18,700 MXN | -54% |
| Financial Claims Analyst | 32,500 MXN | -20% |
| Financial Claims Manager | 40,500 MXN | -0% |
| Financial Commercial Analyst | 33,000 MXN | -19% |
| Financial Compliance Analyst | 39,500 MXN | -3% |
| Financial Consultant | 31,100 MXN | -24% |
| Financial Controller | 36,700 MXN | -10% |
| Financial Coordinator | 22,400 MXN | -45% |
| Financial Customer Service Manager | 42,000 MXN | +3% |
| Financial Dealer and Broker | 26,000 MXN | -36% |
| Financial Encoder | 19,200 MXN | -53% |
| Financial Manager | 62,700 MXN | +54% |
| Financial Operations Manager | 60,100 MXN | +48% |
| Financial Policy Analyst | 35,100 MXN | -14% |
| Financial Project Manager | 49,500 MXN | +22% |
| Financial Quantitative Analyst | 41,400 MXN | +2% |
| Financial Reporting Consultant | 33,700 MXN | -17% |
| Financial Reporting Manager | 43,200 MXN | +6% |
| Financial Services Sales Agent | 26,000 MXN | -36% |
| Fixed Assets Administrator | 24,500 MXN | -40% |
| Forensic Accountant | 27,700 MXN | -32% |
| Fraud Detection Supervisor | 29,400 MXN | -28% |
| Fraud Prevention Manager | 45,800 MXN | +13% |
| Fund Accountant | 22,300 MXN | -45% |
| Grants Coordinator | 16,900 MXN | -58% |
| Internal Auditor | 30,700 MXN | -25% |
| Internal Control Adviser | 37,600 MXN | -8% |
| Internal Control Officer | 19,600 MXN | -52% |
| Inventory Accountant | 25,200 MXN | -38% |
| Investment Analyst | 45,200 MXN | +11% |
| Investment Fund Manager | 51,700 MXN | +27% |
| Investment Underwriter | 20,500 MXN | -50% |
| Investor | 29,300 MXN | -28% |
| Investor Relations Manager | 47,500 MXN | +17% |
| KYC Team Leader | 46,000 MXN | +13% |
| Management Economist | 55,000 MXN | +35% |
| Paymaster | 18,500 MXN | -55% |
| Payroll Clerk | 21,400 MXN | -47% |
| Payroll Manager | 42,300 MXN | +4% |
| Pensions Administrator | 25,000 MXN | -39% |
| Pricing Analyst | 38,300 MXN | -6% |
| Private Equity Analyst | 40,800 MXN | +0% |
| Proposal Development Coordinator | 21,000 MXN | -48% |
| Receivables Accountant | 21,500 MXN | -47% |
| Regulatory Accountant | 24,600 MXN | -40% |
| Retirement Plan Analyst | 38,100 MXN | -6% |
| Revenue Management Specialist | 37,200 MXN | -9% |
| Revenue Recognition Analyst | 42,900 MXN | +5% |
| Risk Management Director | 55,300 MXN | +36% |
| Risk Management Supervisor | 47,300 MXN | +16% |
| Tax Accountant | 22,500 MXN | -45% |
| Tax Advisor | 35,500 MXN | -13% |
| Tax Associate | 19,000 MXN | -53% |
| Tax Manager | 45,900 MXN | +13% |
| Teller | 14,500 MXN | -64% |
| Treasury Accountant | 24,600 MXN | -40% |
| Treasury Analyst | 40,800 MXN | +0% |
| Underwriter | 16,800 MXN | -59% |
| Underwriting Assistant | 14,900 MXN | -63% |
| Vice President of Finance | 65,500 MXN | +61% |
Salary Comparison By City
| City | Average Salary |
| Acapulco | 49,100 MXN |
| Acuna | 40,400 MXN |
| Aguascalientes | 52,800 MXN |
| Boca del Rio | 34,800 MXN |
| Buenavista | 39,500 MXN |
| Campeche | 39,200 MXN |
| Cancun | 52,600 MXN |
| Celaya | 45,500 MXN |
| Chalco | 36,800 MXN |
| Chetumal | 38,400 MXN |
| Chicoloapan | 37,100 MXN |
| Chihuahua | 55,500 MXN |
| Chilpancingo | 38,800 MXN |
| Chimalhuacan | 52,900 MXN |
| Cholula de Rivadabia | 38,700 MXN |
| Ciudad Apodaca | 47,200 MXN |
| Ciudad del Carmen | 39,100 MXN |
| Ciudad Juarez | 35,500 MXN |
| Ciudad Lopez Mateos | 49,400 MXN |
| Ciudad Obregon | 44,300 MXN |
| Ciudad Santa Catarina | 44,700 MXN |
| Ciudad Valles | 33,700 MXN |
| Ciudad Victoria | 43,300 MXN |
| Coacalco | 42,300 MXN |
| Coatzacoalcos | 41,700 MXN |
| Colima | 35,800 MXN |
| Cordoba | 34,000 MXN |
| Cuautitlan Izcalli | 48,100 MXN |
| Cuautla | 35,100 MXN |
| Cuernavaca | 43,900 MXN |
| Culiacan | 52,100 MXN |
| Delicias | 35,600 MXN |
| Durango | 51,100 MXN |
| Ecatepec de Morelos | 55,600 MXN |
| Ensenada | 44,600 MXN |
| Fresnillo | 33,400 MXN |
| General Escobedo | 47,800 MXN |
| Gomez Palacio | 41,700 MXN |
| Guadalajara | 55,900 MXN |
| Guadalupe | 49,500 MXN |
| Guaymas | 31,800 MXN |
| Hermosillo | 53,700 MXN |
| Hidalgo del Parral | 31,800 MXN |
| Iguala | 34,200 MXN |
| Irapuato | 49,100 MXN |
| Ixtapaluca | 47,000 MXN |
| Jiutepec | 39,600 MXN |
| La Paz | 42,500 MXN |
| Leon | 53,600 MXN |
| Los Mochis | 44,500 MXN |
| Los Reyes la Paz | 43,500 MXN |
| Manzanillo | 34,600 MXN |
| Matamoros | 46,200 MXN |
| Mazatlan | 47,400 MXN |
| Merida | 50,100 MXN |
| Metepec | 40,200 MXN |
| Mexicali | 52,600 MXN |
| Mexico City | 54,900 MXN |
| Minatitlan | 33,800 MXN |
| Monclova | 39,400 MXN |
| Monterrey | 52,500 MXN |
| Morelia | 48,500 MXN |
| Naucalpan | 54,400 MXN |
| Navojoa | 34,200 MXN |
| Nezahualcoyotl | 53,400 MXN |
| Nogales | 40,600 MXN |
| Nuevo Laredo | 48,000 MXN |
| Oaxaca | 44,000 MXN |
| Ojo de Agua | 42,000 MXN |
| Orizaba | 32,100 MXN |
| Pachuca | 42,300 MXN |
| Piedras Negras | 37,000 MXN |
| Playa del Carmen | 35,600 MXN |
| Poza Rica | 37,000 MXN |
| Puebla | 56,600 MXN |
| Puerto Vallarta | 41,700 MXN |
| Queretaro | 50,200 MXN |
| Reynosa | 47,600 MXN |
| Salamanca | 36,900 MXN |
| Saltillo | 54,400 MXN |
| San Cristobal de las Casas | 38,600 MXN |
| San Juan del Rio | 36,800 MXN |
| San Luis Potosi | 50,600 MXN |
| San Luis Rio Colorado | 38,300 MXN |
| San Nicolas de los Garza | 47,900 MXN |
| San Pablo de las Salinas | 40,400 MXN |
| San Pedro Garza Garcia | 34,500 MXN |
| Soledad de Graciano Sanchez | 43,700 MXN |
| Tampico | 44,800 MXN |
| Tapachula | 39,700 MXN |
| Tehuacan | 41,500 MXN |
| Tepic | 46,300 MXN |
| Tijuana | 56,900 MXN |
| Tlalnepantla de Baz | 50,400 MXN |
| Tlaquepaque | 50,700 MXN |
| Toluca | 49,600 MXN |
| Tonala | 47,200 MXN |
| Torreon | 50,500 MXN |
| Tuxtla Gutierrez | 47,900 MXN |
| Uruapan | 41,800 MXN |
| Veracruz | 49,900 MXN |
| Villa Nicolas Romero | 45,900 MXN |
| Villahermosa | 44,100 MXN |
| Xalapa | 47,000 MXN |
| Xico | 44,900 MXN |
| Zacatecas | 35,000 MXN |
| Zamora de Hidalgo | 34,500 MXN |
| Zapopan | 54,600 MXN |
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in Mexico earn 9% more than their private sector counterparts on average across all sectors.
| Private Sector | 31,900 MXN | |
| Public Sector | +9% | 34,600 MXN |
