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Financial Analyst Average Salary in Mexico 2022

How much money does a Financial Analyst make in Mexico?


Average Monthly Salary
40,700 MXN
( 488,000 MXN yearly)

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

Median and salary distribution monthly Mexico Financial Analyst
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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?

Salary comparison by years of experience monthly Mexico Financial Analyst
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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.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

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
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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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.

Salary comparison by education level monthly Mexico Financial Analyst
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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
Percentage increase and decrease are relative to the previous value

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

Salary Comparison By Education Level
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Financial Analyst Salary Comparison By Gender

Salary comparison by gender monthly Mexico Financial Analyst
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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
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Mexico for all Careers

Salary comparison by gender monthly Mexico
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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.

Annual Salary Increment Rate Mexico Financial Analyst
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

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

The average salary increase in one year (12 months) in Mexico is 5%.

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

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Financial Analyst Bonus and Incentive Rates in Mexico

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Mexico Financial Analyst
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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 Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, 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 Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These 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 GeneratorsSupporting 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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

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 hour

The 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.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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

Salary Comparison Between Financial Analyst and Accounting and Finance monthly Mexico
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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 TitleAverage Salary
Account Examiner17,500 MXN-57%
Account Executive28,900 MXN-29%
Accountant22,400 MXN-45%
Accounting Assistant18,200 MXN-55%
Accounting Associate16,400 MXN-60%
Accounting Clerk14,300 MXN-65%
Accounting Coordinator21,000 MXN-48%
Accounting Manager49,500 MXN+22%
Accounting Supervisor33,900 MXN-17%
Accounting Technician17,200 MXN-58%
Accounts Executive28,800 MXN-29%
Accounts Payable and Receivable Specialist23,500 MXN-42%
Accounts Payable Clerk18,000 MXN-56%
Accounts Payable Manager45,000 MXN+11%
Accounts Receivable Clerk17,600 MXN-57%
Accounts Receivable Manager47,800 MXN+18%
Assistant Accounting Manager43,500 MXN+7%
Assistant Auditor23,800 MXN-41%
Audit Supervisor44,700 MXN+10%
Auditing Clerk19,200 MXN-53%
Auditing Manager48,800 MXN+20%
Billing Coordinator20,900 MXN-49%
Billing Specialist24,800 MXN-39%
Billing Supervisor36,500 MXN-10%
Bookkeeper14,800 MXN-64%
Bookkeeping Specialist23,500 MXN-42%
Budget Analyst40,100 MXN-1%
Budget Manager50,000 MXN+23%
Business Support Analyst26,800 MXN-34%
Capital Markets Associate34,400 MXN-15%
Cash Flow Analyst34,400 MXN-15%
Cash Management Officer28,300 MXN-30%
Cashbook Clerk15,300 MXN-62%
Chartered Accountant29,600 MXN-27%
Collections Clerk15,100 MXN-63%
Collections Specialist23,500 MXN-42%
Corporate Treasurer44,100 MXN+8%
Cost Accountant24,000 MXN-41%
Cost Accounting Manager47,700 MXN+17%
Cost Analyst36,000 MXN-11%
Credit and Collection Manager48,400 MXN+19%
Credit and Collection Staff18,100 MXN-55%
Credit and Loans Officer17,000 MXN-58%
Credit Controller32,700 MXN-20%
Debt Adviser38,400 MXN-6%
Debt Collector19,400 MXN-52%
Debtors Clerk15,500 MXN-62%
Deputy CFO65,000 MXN+60%
Derivative Trader42,200 MXN+4%
Escrow Assistant20,500 MXN-50%
External Auditor34,200 MXN-16%
Finance Associate19,900 MXN-51%
Finance Executive51,800 MXN+27%
Finance Licensing Clerk16,800 MXN-59%
Finance Licensing Manager46,200 MXN+14%
Finance Licensing Specialist24,600 MXN-40%
Finance Officer23,100 MXN-43%
Finance President69,300 MXN+70%
Finance Relationship Manager55,000 MXN+35%
Finance Release Analyst25,700 MXN-37%
Finance Team Leader 52,400 MXN+29%
Financial Actuary37,700 MXN-7%
Financial Administrator39,700 MXN-2%
Financial Analyst40,700 MXN+0%
Financial Applications Specialist29,500 MXN-27%
Financial Assistant19,800 MXN-51%
Financial Associate18,700 MXN-54%
Financial Claims Analyst32,500 MXN-20%
Financial Claims Manager40,500 MXN-0%
Financial Commercial Analyst33,000 MXN-19%
Financial Compliance Analyst39,500 MXN-3%
Financial Consultant31,100 MXN-24%
Financial Controller36,700 MXN-10%
Financial Coordinator22,400 MXN-45%
Financial Customer Service Manager42,000 MXN+3%
Financial Dealer and Broker26,000 MXN-36%
Financial Encoder19,200 MXN-53%
Financial Manager62,700 MXN+54%
Financial Operations Manager60,100 MXN+48%
Financial Policy Analyst35,100 MXN-14%
Financial Project Manager49,500 MXN+22%
Financial Quantitative Analyst41,400 MXN+2%
Financial Reporting Consultant33,700 MXN-17%
Financial Reporting Manager43,200 MXN+6%
Financial Services Sales Agent26,000 MXN-36%
Fixed Assets Administrator24,500 MXN-40%
Forensic Accountant27,700 MXN-32%
Fraud Detection Supervisor29,400 MXN-28%
Fraud Prevention Manager45,800 MXN+13%
Fund Accountant22,300 MXN-45%
Grants Coordinator16,900 MXN-58%
Internal Auditor30,700 MXN-25%
Internal Control Adviser37,600 MXN-8%
Internal Control Officer19,600 MXN-52%
Inventory Accountant25,200 MXN-38%
Investment Analyst45,200 MXN+11%
Investment Fund Manager51,700 MXN+27%
Investment Underwriter20,500 MXN-50%
Investor29,300 MXN-28%
Investor Relations Manager47,500 MXN+17%
KYC Team Leader46,000 MXN+13%
Management Economist55,000 MXN+35%
Paymaster18,500 MXN-55%
Payroll Clerk21,400 MXN-47%
Payroll Manager42,300 MXN+4%
Pensions Administrator25,000 MXN-39%
Pricing Analyst38,300 MXN-6%
Private Equity Analyst40,800 MXN+0%
Proposal Development Coordinator21,000 MXN-48%
Receivables Accountant21,500 MXN-47%
Regulatory Accountant24,600 MXN-40%
Retirement Plan Analyst38,100 MXN-6%
Revenue Management Specialist37,200 MXN-9%
Revenue Recognition Analyst42,900 MXN+5%
Risk Management Director55,300 MXN+36%
Risk Management Supervisor47,300 MXN+16%
Tax Accountant22,500 MXN-45%
Tax Advisor35,500 MXN-13%
Tax Associate19,000 MXN-53%
Tax Manager45,900 MXN+13%
Teller14,500 MXN-64%
Treasury Accountant24,600 MXN-40%
Treasury Analyst40,800 MXN+0%
Underwriter16,800 MXN-59%
Underwriting Assistant14,900 MXN-63%
Vice President of Finance65,500 MXN+61%

Salary Comparison By City

CityAverage Salary
Acapulco49,100 MXN
Acuna40,400 MXN
Aguascalientes52,800 MXN
Boca del Rio34,800 MXN
Buenavista39,500 MXN
Campeche39,200 MXN
Cancun52,600 MXN
Celaya45,500 MXN
Chalco36,800 MXN
Chetumal38,400 MXN
Chicoloapan37,100 MXN
Chihuahua55,500 MXN
Chilpancingo38,800 MXN
Chimalhuacan52,900 MXN
Cholula de Rivadabia38,700 MXN
Ciudad Apodaca47,200 MXN
Ciudad del Carmen39,100 MXN
Ciudad Juarez35,500 MXN
Ciudad Lopez Mateos49,400 MXN
Ciudad Obregon44,300 MXN
Ciudad Santa Catarina44,700 MXN
Ciudad Valles33,700 MXN
Ciudad Victoria43,300 MXN
Coacalco42,300 MXN
Coatzacoalcos41,700 MXN
Colima35,800 MXN
Cordoba34,000 MXN
Cuautitlan Izcalli48,100 MXN
Cuautla35,100 MXN
Cuernavaca43,900 MXN
Culiacan52,100 MXN
Delicias35,600 MXN
Durango51,100 MXN
Ecatepec de Morelos55,600 MXN
Ensenada44,600 MXN
Fresnillo33,400 MXN
General Escobedo47,800 MXN
Gomez Palacio41,700 MXN
Guadalajara55,900 MXN
Guadalupe49,500 MXN
Guaymas31,800 MXN
Hermosillo53,700 MXN
Hidalgo del Parral31,800 MXN
Iguala34,200 MXN
Irapuato49,100 MXN
Ixtapaluca47,000 MXN
Jiutepec39,600 MXN
La Paz42,500 MXN
Leon53,600 MXN
Los Mochis44,500 MXN
Los Reyes la Paz43,500 MXN
Manzanillo34,600 MXN
Matamoros46,200 MXN
Mazatlan47,400 MXN
Merida50,100 MXN
Metepec40,200 MXN
Mexicali52,600 MXN
Mexico City54,900 MXN
Minatitlan33,800 MXN
Monclova39,400 MXN
Monterrey52,500 MXN
Morelia48,500 MXN
Naucalpan54,400 MXN
Navojoa34,200 MXN
Nezahualcoyotl53,400 MXN
Nogales40,600 MXN
Nuevo Laredo48,000 MXN
Oaxaca44,000 MXN
Ojo de Agua42,000 MXN
Orizaba32,100 MXN
Pachuca42,300 MXN
Piedras Negras37,000 MXN
Playa del Carmen35,600 MXN
Poza Rica37,000 MXN
Puebla56,600 MXN
Puerto Vallarta41,700 MXN
Queretaro50,200 MXN
Reynosa47,600 MXN
Salamanca36,900 MXN
Saltillo54,400 MXN
San Cristobal de las Casas38,600 MXN
San Juan del Rio36,800 MXN
San Luis Potosi50,600 MXN
San Luis Rio Colorado38,300 MXN
San Nicolas de los Garza47,900 MXN
San Pablo de las Salinas40,400 MXN
San Pedro Garza Garcia34,500 MXN
Soledad de Graciano Sanchez43,700 MXN
Tampico44,800 MXN
Tapachula39,700 MXN
Tehuacan41,500 MXN
Tepic46,300 MXN
Tijuana56,900 MXN
Tlalnepantla de Baz50,400 MXN
Tlaquepaque50,700 MXN
Toluca49,600 MXN
Tonala47,200 MXN
Torreon50,500 MXN
Tuxtla Gutierrez47,900 MXN
Uruapan41,800 MXN
Veracruz49,900 MXN
Villa Nicolas Romero45,900 MXN
Villahermosa44,100 MXN
Xalapa47,000 MXN
Xico44,900 MXN
Zacatecas35,000 MXN
Zamora de Hidalgo34,500 MXN
Zapopan54,600 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
Percentage increase and decrease are relative to the previous value

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