HOME BROWSE SALARIES BEST PAYING JOBS
Browse Salaries
Best Paying Jobs
Salary Increase Letters
Career Articles

Banking Average Salaries in Mexico 2021

How much money does a person working in Banking make in Mexico?


Average Monthly Salary
36,100 MXN
( 434,000 MXN yearly)

LOW
11,400
MXN
AVERAGE
36,100
MXN
HIGH
74,200
MXN

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.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst51,400 MXN
Assistant Bank Branch Manager42,800 MXN
Assistant Bank Manager60,200 MXN
ATM Manager47,900 MXN
ATM Service Technician13,700 MXN
Bank Accounts Analyst20,300 MXN
Bank Accounts Controller25,500 MXN
Bank Accounts Executive35,600 MXN
Bank Accounts Manager43,000 MXN
Bank Auditing Manager41,500 MXN
Bank Branch Manager62,000 MXN
Bank Clerk11,600 MXN
Bank Compliance Specialist32,900 MXN
Bank Manager72,900 MXN
Bank Operational Risk Manager71,500 MXN
Bank Operations Head68,900 MXN
Bank Operations Officer27,800 MXN
Bank Operations Specialist42,900 MXN
Bank Process Manager39,300 MXN
Bank Product Manager 45,600 MXN
Bank Programme Manager46,700 MXN
Bank Project Manager57,900 MXN
Bank Propositions Manager52,100 MXN
Bank Quantitative Analyst36,500 MXN
Bank Regional Manager72,000 MXN
Bank Regional Risk Officer36,400 MXN
Bank Relationship Manager54,800 MXN
Bank Relationship Officer24,300 MXN
Banker24,600 MXN
Banking Business Analyst37,200 MXN
Banking Business Development Officer22,700 MXN
Banking Business Planning Executive54,600 MXN
Banking Product Manager46,800 MXN
Banking Reference Data Manager39,100 MXN
Banking Risk Analyst35,300 MXN
Banking Technical Analyst19,300 MXN
Bankruptcy Coordinator26,500 MXN
Budget Analyst36,600 MXN
Cards Marketing Manager47,900 MXN
Cash Management Manager66,000 MXN
Check Processing Manager45,900 MXN
Commercial Vault Associate34,700 MXN
Corporate Dealer36,400 MXN
Credit Analyst28,000 MXN
Credit and Collections Manager50,600 MXN
Credit Card Fraud Investigator36,500 MXN
Credit Portfolio Manager71,700 MXN
Credit Risk Analyst41,900 MXN
Credit Risk Associate40,500 MXN
Direct Bank Sales Representative26,000 MXN
Financial Bank Planning Consultant46,200 MXN
Financial Banking Analysis Manager52,900 MXN
Financial Banking Assistant17,800 MXN
Financial Banking Systems Manager47,900 MXN
Foreign Exchange Manager53,300 MXN
Fraud Analyst38,400 MXN
Fraud Detection Associate27,400 MXN
Fraud Detection Manager54,600 MXN
Fraud Detection Supervisor31,200 MXN
Internal Bank Audit Manager63,500 MXN
Internal Bank Auditor35,200 MXN
International Banking Manager77,300 MXN
Loan Analyst36,700 MXN
Loan Area Manager43,300 MXN
Loan Audit Team Leader40,500 MXN
Loan Branch Manager41,700 MXN
Loan Business Development Officer21,200 MXN
Loan Clerk12,900 MXN
Loan Collection Manager45,300 MXN
Loan Collector12,100 MXN
Loan Examiner16,700 MXN
Loan Processing Manager38,900 MXN
Loan Processor16,900 MXN
Loan Quality Assurance Auditor35,700 MXN
Loan Quality Assurance Manager41,300 MXN
Loan Quality Assurance Representative28,600 MXN
Loan Review Manager40,700 MXN
Loan Team Leader37,800 MXN
Mortgage Advisor24,400 MXN
Mortgage Collection Manager42,900 MXN
Mortgage Collector12,400 MXN
Mortgage Credit Analyst19,000 MXN
Mortgage Credit Manager41,600 MXN
Mortgage Development Manager44,800 MXN
Mortgage Document Reviewer15,900 MXN
Mortgage Funding Manager49,000 MXN
Mortgage Operations Manager65,200 MXN
Mortgage Payment Processing Clerk13,500 MXN
Mortgage Processing Manager40,700 MXN
Mortgage Processor16,600 MXN
Mortgage Quality Assurance Auditor36,400 MXN
Mortgage Quality Assurance Manager43,300 MXN
Mortgage Servicing Clerk13,400 MXN
Mortgage Servicing Manager40,000 MXN
Mortgage Underwriter15,200 MXN
Online Banking Manager61,800 MXN
Payment Processing Clerk13,100 MXN
Personal Banker26,400 MXN
Personal Banking Advisor 27,000 MXN
Phone Banker16,800 MXN
Private Banker27,700 MXN
Reconciliation and Investigation Specialist29,500 MXN
Teller12,100 MXN
Trade Officer14,500 MXN
Trade Product Manager43,200 MXN
Trader18,800 MXN
Treasury Operations Officer32,100 MXN

Banking Jobs Salary Distribution in Mexico

Median and salary distribution monthly Mexico Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/banking/median-and-salary-distribution-monthly-mexico-banking.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    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).

  • Median Salary

    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.

  • Percentiles

    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.


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

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

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.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

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.

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.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

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.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

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.


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 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.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Mexico Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/banking/salary-comparison-by-gender-monthly-mexico-banking.jpg

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.

Male
38,000 MXN
Female-7%
35,200 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/salary-comparison-by-gender-monthly-mexico.jpg

Banking Average Annual Salary Increment Percentage in Mexico

How much are annual salary increments in Mexico for Banking professionals? How often do employees get salary raises?

Banking

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.

Annual Salary Increment Rate Mexico Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/banking/annual-salary-increment-rate-mexico-banking.jpg


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 2020

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 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.


Worldwide Salary Raises: All Countries and All Jobs

Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Banking Bonus and Incentive Rates in Mexico

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Mexico Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/banking/annual-salary-bonus-rate-mexico-banking.jpg

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.

Received Bonus
79%
No Bonus
21%

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.

Banking Hourly Average Wage in Mexico


210 MXN per hour

The average hourly wage (pay per hour) in Mexico is 210 MXN. This means that the average person in Mexico earns approximately 210 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.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Mexico
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/banking/salary-comparison-between-banking-and-banking-monthly-mexico.jpg

The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Acapulco42,400 MXN
Acuna36,100 MXN
Aguascalientes43,200 MXN
Boca del Rio31,900 MXN
Buenavista34,900 MXN
Campeche35,600 MXN
Cancun42,300 MXN
Celaya38,800 MXN
Chalco33,200 MXN
Chetumal32,600 MXN
Chicoloapan33,300 MXN
Chihuahua48,300 MXN
Chilpancingo34,500 MXN
Chimalhuacan42,000 MXN
Cholula de Rivadabia33,800 MXN
Ciudad Apodaca40,600 MXN
Ciudad del Carmen33,400 MXN
Ciudad Juarez33,200 MXN
Ciudad Lopez Mateos40,800 MXN
Ciudad Obregon38,400 MXN
Ciudad Santa Catarina37,400 MXN
Ciudad Valles31,000 MXN
Ciudad Victoria38,000 MXN
Coacalco37,600 MXN
Coatzacoalcos35,800 MXN
Colima31,600 MXN
Cordoba31,500 MXN
Cuautitlan Izcalli40,700 MXN
Cuautla32,000 MXN
Cuernavaca38,400 MXN
Culiacan43,800 MXN
Delicias30,800 MXN
Durango41,200 MXN
Ecatepec de Morelos49,400 MXN
Ensenada37,700 MXN
Fresnillo30,300 MXN
General Escobedo39,300 MXN
Gomez Palacio37,200 MXN
Guadalajara49,000 MXN
Guadalupe42,000 MXN
Guaymas29,700 MXN
Hermosillo43,000 MXN
Hidalgo del Parral29,400 MXN
Iguala30,400 MXN
Irapuato39,700 MXN
Ixtapaluca38,300 MXN
Jiutepec33,100 MXN
La Paz35,800 MXN
Leon48,900 MXN
Los Mochis37,300 MXN
Los Reyes la Paz36,900 MXN
Manzanillo31,100 MXN
Matamoros40,200 MXN
Mazatlan39,300 MXN
Merida43,000 MXN
Metepec35,200 MXN
Mexicali42,600 MXN
Mexico City49,300 MXN
Minatitlan29,600 MXN
Monclova35,300 MXN
Monterrey48,400 MXN
Morelia41,300 MXN
Naucalpan47,900 MXN
Navojoa29,300 MXN
Nezahualcoyotl48,200 MXN
Nogales34,700 MXN
Nuevo Laredo39,300 MXN
Oaxaca36,400 MXN
Ojo de Agua36,400 MXN
Orizaba29,900 MXN
Pachuca36,200 MXN
Piedras Negras32,200 MXN
Playa del Carmen32,500 MXN
Poza Rica33,600 MXN
Puebla49,100 MXN
Puerto Vallarta34,700 MXN
Queretaro41,800 MXN
Reynosa41,300 MXN
Salamanca32,900 MXN
Saltillo43,000 MXN
San Cristobal de las Casas34,000 MXN
San Juan del Rio31,400 MXN
San Luis Potosi42,400 MXN
San Luis Rio Colorado33,000 MXN
San Nicolas de los Garza40,000 MXN
San Pablo de las Salinas34,200 MXN
San Pedro Garza Garcia29,800 MXN
Soledad de Graciano Sanchez36,300 MXN
Tampico37,800 MXN
Tapachula34,300 MXN
Tehuacan36,100 MXN
Tepic38,500 MXN
Tijuana48,700 MXN
Tlalnepantla de Baz41,800 MXN
Tlaquepaque41,200 MXN
Toluca40,400 MXN
Tonala39,600 MXN
Torreon41,500 MXN
Tuxtla Gutierrez41,000 MXN
Uruapan36,800 MXN
Veracruz39,800 MXN
Villa Nicolas Romero37,500 MXN
Villahermosa39,100 MXN
Xalapa39,900 MXN
Xico38,800 MXN
Zacatecas30,500 MXN
Zamora de Hidalgo31,200 MXN
Zapopan48,600 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

Browse Salaries

Salary Increase Letters

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2021