A person working in Banking in Mexico typically earns around 36,100 MXN per month. Salaries range from 11,400 MXN (lowest average) to 74,200 MXN (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
|Job Title||Average Salary|
|AML Analyst||51,400 MXN|
|Assistant Bank Branch Manager||42,800 MXN|
|Assistant Bank Manager||60,200 MXN|
|ATM Manager||47,900 MXN|
|ATM Service Technician||13,700 MXN|
|Bank Accounts Analyst||20,300 MXN|
|Bank Accounts Controller||25,500 MXN|
|Bank Accounts Executive||35,600 MXN|
|Bank Accounts Manager||43,000 MXN|
|Bank Auditing Manager||41,500 MXN|
|Bank Branch Manager||62,000 MXN|
|Bank Clerk||11,600 MXN|
|Bank Compliance Specialist||32,900 MXN|
|Bank Manager||72,900 MXN|
|Bank Operational Risk Manager||71,500 MXN|
|Bank Operations Head||68,900 MXN|
|Bank Operations Officer||27,800 MXN|
|Bank Operations Specialist||42,900 MXN|
|Bank Process Manager||39,300 MXN|
|Bank Product Manager||45,600 MXN|
|Bank Programme Manager||46,700 MXN|
|Bank Project Manager||57,900 MXN|
|Bank Propositions Manager||52,100 MXN|
|Bank Quantitative Analyst||36,500 MXN|
|Bank Regional Manager||72,000 MXN|
|Bank Regional Risk Officer||36,400 MXN|
|Bank Relationship Manager||54,800 MXN|
|Bank Relationship Officer||24,300 MXN|
|Banking Business Analyst||37,200 MXN|
|Banking Business Development Officer||22,700 MXN|
|Banking Business Planning Executive||54,600 MXN|
|Banking Product Manager||46,800 MXN|
|Banking Reference Data Manager||39,100 MXN|
|Banking Risk Analyst||35,300 MXN|
|Banking Technical Analyst||19,300 MXN|
|Bankruptcy Coordinator||26,500 MXN|
|Budget Analyst||36,600 MXN|
|Cards Marketing Manager||47,900 MXN|
|Cash Management Manager||66,000 MXN|
|Check Processing Manager||45,900 MXN|
|Commercial Vault Associate||34,700 MXN|
|Corporate Dealer||36,400 MXN|
|Credit Analyst||28,000 MXN|
|Credit and Collections Manager||50,600 MXN|
|Credit Card Fraud Investigator||36,500 MXN|
|Credit Portfolio Manager||71,700 MXN|
|Credit Risk Analyst||41,900 MXN|
|Credit Risk Associate||40,500 MXN|
|Direct Bank Sales Representative||26,000 MXN|
|Financial Bank Planning Consultant||46,200 MXN|
|Financial Banking Analysis Manager||52,900 MXN|
|Financial Banking Assistant||17,800 MXN|
|Financial Banking Systems Manager||47,900 MXN|
|Foreign Exchange Manager||53,300 MXN|
|Fraud Analyst||38,400 MXN|
|Fraud Detection Associate||27,400 MXN|
|Fraud Detection Manager||54,600 MXN|
|Fraud Detection Supervisor||31,200 MXN|
|Internal Bank Audit Manager||63,500 MXN|
|Internal Bank Auditor||35,200 MXN|
|International Banking Manager||77,300 MXN|
|Loan Analyst||36,700 MXN|
|Loan Area Manager||43,300 MXN|
|Loan Audit Team Leader||40,500 MXN|
|Loan Branch Manager||41,700 MXN|
|Loan Business Development Officer||21,200 MXN|
|Loan Clerk||12,900 MXN|
|Loan Collection Manager||45,300 MXN|
|Loan Collector||12,100 MXN|
|Loan Examiner||16,700 MXN|
|Loan Processing Manager||38,900 MXN|
|Loan Processor||16,900 MXN|
|Loan Quality Assurance Auditor||35,700 MXN|
|Loan Quality Assurance Manager||41,300 MXN|
|Loan Quality Assurance Representative||28,600 MXN|
|Loan Review Manager||40,700 MXN|
|Loan Team Leader||37,800 MXN|
|Mortgage Advisor||24,400 MXN|
|Mortgage Collection Manager||42,900 MXN|
|Mortgage Collector||12,400 MXN|
|Mortgage Credit Analyst||19,000 MXN|
|Mortgage Credit Manager||41,600 MXN|
|Mortgage Development Manager||44,800 MXN|
|Mortgage Document Reviewer||15,900 MXN|
|Mortgage Funding Manager||49,000 MXN|
|Mortgage Operations Manager||65,200 MXN|
|Mortgage Payment Processing Clerk||13,500 MXN|
|Mortgage Processing Manager||40,700 MXN|
|Mortgage Processor||16,600 MXN|
|Mortgage Quality Assurance Auditor||36,400 MXN|
|Mortgage Quality Assurance Manager||43,300 MXN|
|Mortgage Servicing Clerk||13,400 MXN|
|Mortgage Servicing Manager||40,000 MXN|
|Mortgage Underwriter||15,200 MXN|
|Online Banking Manager||61,800 MXN|
|Payment Processing Clerk||13,100 MXN|
|Personal Banker||26,400 MXN|
|Personal Banking Advisor||27,000 MXN|
|Phone Banker||16,800 MXN|
|Private Banker||27,700 MXN|
|Reconciliation and Investigation Specialist||29,500 MXN|
|Trade Officer||14,500 MXN|
|Trade Product Manager||43,200 MXN|
|Treasury Operations Officer||32,100 MXN|
Banking salaries in Mexico range from 11,400 MXN per month (minimum average salary) to 74,200 MXN per month (maximum average salary, actual maximum is higher).
The median salary is 37,600 MXN per month, which means that half (50%) of people working in Banking are earning less than 37,600 MXN while the other half are earning more than 37,600 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.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 22,000 MXN while 75% of them are earning more than 22,000 MXN. Also from the diagram, 75% of people working in Banking are earning less than 58,100 MXN while 25% are earning more than 58,100 MXN.
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
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Mexico who work in Banking earn 8% more than their female counterparts on average.
Banking professionals in Mexico are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
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.
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
Listed above are the average annual increase rates for each industry in Mexico for the year 2020. 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.
Banking is considered to be a high bonus-based field 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.
21% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 79% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
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.
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.
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.
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.
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.
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.
The average salary for Banking is 9% more than that of All Jobs.
|Boca del Rio||31,900 MXN|
|Cholula de Rivadabia||33,800 MXN|
|Ciudad Apodaca||40,600 MXN|
|Ciudad del Carmen||33,400 MXN|
|Ciudad Juarez||33,200 MXN|
|Ciudad Lopez Mateos||40,800 MXN|
|Ciudad Obregon||38,400 MXN|
|Ciudad Santa Catarina||37,400 MXN|
|Ciudad Valles||31,000 MXN|
|Ciudad Victoria||38,000 MXN|
|Cuautitlan Izcalli||40,700 MXN|
|Ecatepec de Morelos||49,400 MXN|
|General Escobedo||39,300 MXN|
|Gomez Palacio||37,200 MXN|
|Hidalgo del Parral||29,400 MXN|
|La Paz||35,800 MXN|
|Los Mochis||37,300 MXN|
|Los Reyes la Paz||36,900 MXN|
|Mexico City||49,300 MXN|
|Nuevo Laredo||39,300 MXN|
|Ojo de Agua||36,400 MXN|
|Piedras Negras||32,200 MXN|
|Playa del Carmen||32,500 MXN|
|Poza Rica||33,600 MXN|
|Puerto Vallarta||34,700 MXN|
|San Cristobal de las Casas||34,000 MXN|
|San Juan del Rio||31,400 MXN|
|San Luis Potosi||42,400 MXN|
|San Luis Rio Colorado||33,000 MXN|
|San Nicolas de los Garza||40,000 MXN|
|San Pablo de las Salinas||34,200 MXN|
|San Pedro Garza Garcia||29,800 MXN|
|Soledad de Graciano Sanchez||36,300 MXN|
|Tlalnepantla de Baz||41,800 MXN|
|Tuxtla Gutierrez||41,000 MXN|
|Villa Nicolas Romero||37,500 MXN|
|Zamora de Hidalgo||31,200 MXN|
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.