Argentina

Last Update by Katie, 09 Aug 2024

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Exchange Rate

18 Sep 2024

 

Cost of Living

Indicative value for a working adult in a city: Buenos Aires

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (ARS)
McDonalds Set Meal 5,262
Monthly Train and Bus Tickets 13,406
3 Bedrooms Rental (City Center) 501,411
3 Bedrooms Rental (Outskirt) 361,967

Current Inflation Rate

289%

Wage

Minimum Wages

  • 234.315.12 ARS per month as of May, 2024

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (ARS)
Entry-Level
Fresh Graduate
 278,000
Mid-Level
5 Years
 360,000
Experienced & Managerial Level
10 Years
 400,000
Specialized & Senior-Level
15 Years
 584,000

Annual Salary Growth

3.2%

Statutory Contribution

Argentine employers have a social security exception of 7,003.68 ARS per month per staff member

Country Level

Type Employer Rates Employee Rates Notes
Pension Fund (SIPA) 12.35% - Employers in private sector (services or trade)
10.77% - All other employers in private and public sectors 		11%
Capped at Min. 57,688.19 - Max. 1,874,838.91 ARS per month 		All staff
Social Health Care (INSSJP) 6% 3%
Capped at Min. 57,688.19 - Max. 1,874,838.91 ARS per month 		All staff
Public Health Insurance (PAMI) 2% 3% All staff
National Unemployment Fund (ANSES) 1.07% - Employers in private sector (services or trade)
0.94% -All other employers in private and public sectors 		- All employers depending on the sector
Family Allowance (ANSES) 5.40% - Employers in private sector (services or trade)
4.70% - All other employers in private and public sectors 		- All employers depending on the sector
Life Insurance (Mandatory) 0.03%- 0.50% - All employers depending on the sector
13 Month Salary (mandatory) 1 month salary
50% paid on 30th June, 50% on 18th December 		- All staff based on highest monthly wage in the last 6 months

Other Benefit

Other common employment benefits in Argentina include:

  • Mobile phone allowance: Around 2000 ARS per month
  • Internet Allowance: up to 2,000 ARS per month
  • Transport Allowance: up to 300 ARS per day

Income Tax

Residents

  • Tax Period: 1st January - 31st December
    Filing Due Date: Second week of May

Country Level

Taxable Income Rate
0-419,253.95 5%
419,253.95 -838,507.92 9%
838,507.92-1,257,761.87 12%
1,257,761.87-1,677,015.86 15%
1,677,015.87-2,515,523.74 19%
2,515,523.74-3,354,031.63 23%
3,354,031.63-5,031,047.45 27%
5,031,047.45-6,708,063.39 31%
Over 6,708,063.39 35%

Non-residents

  • Taxed on all Argentine-sourced income

Working Hours

Statutory

48 hours
8 hours, 6 days per week
Night shifts: 7 hours between 21:00- 06:00

Typical practice

48 hours
Monday- Saturday
Saturday work hours must end at 13:00

Overtime

Capped at 3 hours per day, 30 hours per month or 200 hours per year

  • Regular overtime: paid at 1.5 times the regular hourly rate
  • Holidays, Saturdays after 13:00 and Sundays: 2 times the regular hourly rate
  • Night shifts: Paid at 1 hour and 8 minutes per hour

Employment Contract

Permanent

Contract Format

Can be verbal or written, in Spanish and registered with AFIP

Payroll Currency

ARS, USD accepted

Probation

Up to 3 months

Contract Period

No minimum duration

Termination

  • Notice during Probation:
    - 15 days
  • Notice after probation:
    Without cause
    - Staff with up to 5 years' service: 1 month
    - Staff with more than 5 years' service: 2 months
  • Severance:
    - Only for dismissal without cause
    - 1 month salary per year worked (not including the Christmas bonus) capped at 3 months
    - When no notice is given: 1 month salary for lack of notice
    - Those terminated part way through the month, are entitled to the full month including holiday due
    - Check collective agreements for specific conditions

Public Holiday

16 days

Country Level

Date Name
01 Jan New Year's Day
12 Feb - 13 Feb Carnival
24 Mar Truth and Justice Day
29 Mar Good Friday
02 Apr Malvinas Day
01 May Labour Day
25 May Revolution Day
17 Jun Martin Miguel de Guemes Day
20 Jun Flag Day
09 Jul Independence Day
19 Aug Death of San Martin
14 Oct Day of Respect for Cultural Diversity
18 Nov National Sovereignty Day
08 Dec Immaculate Conception
25 Dec Christmas Day

Leave

Leave Type Entitlement Notes
Annual Leave 14 calendar days
21 calendar days
28 calendar days
35 calendar days 		All Staff with 6 months- 5 years' service
5-10 years' service
10-20 years' service
20+ years' service
Sick Leave 3 months per year
6 months per year 		All Staff with 5 years continuous service
All staff with over 5 years' continuous service
Maternity Leave 90 days
45 before birth, 45 after birth 		All expectant mothers
Paternity Leave 2 working days All biological fathers
Marriage Leave 10 calendar days All staff with 6 months' service
Bereavement Leave 3 calendar days
1 calendar day 		All staff with death of spouse, cohabitant, children or parents
All staff with death of a sibling
Exam Leave 10 calendar days per year (2 days per exam) All staff

Reference

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