Mexico

Last Update by Katie, 14 May 2024

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Exchange Rate

13 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Mexico City

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

Living Requirement Indicative Amount (MXN)
McDonalds Set Meal 95
Monthly Train and Bus Tickets 360
3 Bedrooms Rental (City Center) 35,000
3 Bedrooms Rental (Outskirt) 15,500

Current Inflation Rate

4.66%

Wage

Minimum Wages

  • Northern Border Free Zone: 374.89 MXN per day
    Rest of the Country: 248.93 MXN per day

Median Salary

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

Job Level Monthly Salary (MXN)
Entry-Level
Fresh Graduate
30500
Mid-Level
5 Years
42100
Experienced & Managerial Level
10 Years
52000
Specialized & Senior-Level
15 Years
80000+

Annual Salary Growth

3%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Old age (Instituto Mexicano del Seguro Social (IMSS) 3.15%
Government contributes 0.225%.
1.125% All Staff
Total is 6.5% of employee wages.
Capped for employee's annual contribution 26,914 MXN.
Social Security for Illness Maternity Disability Life (IMSS) 25.3% 1.65% All Staff
Covers Disability Maternity, Sickness benefits
Retirement Pension Savings 2% - All Staff
National Housing Fund (INFONAVIT) 5% - All Staff
Occupational Risk 2-4% - Corresponding Business in Manufacturing, Construction, Industrial
Child Care 1% - All Staff
State-Level Employer Income Taxes 1%-3% - All Staff
Payroll Tax by State 1.8%-3% - All Staff
13-Month Bonus (Aguinaldo) 2 weeks - All full time staff paid on December 20th of each year

Other Benefit

Other common employment benefits in Mexico include:

  • Internet Allowance (remote, IT, Sales jobs: Around 650 MXN month
  • Company provided mobile phone: around 165 MXN month
  • Meal Vouchers through IMSS: 1,261.47 MXN per month
    Meal Vouchers through ISR: 3,153.70 MXN per month

Income Tax

Residents

Country Level

Taxable Income Rate
0-7,735.00 1.92%
7,735.01 - 65,651.07 6.40%
65,651.08 - 115,375.90 10.88%
115,37.91 134,119.41 16.00%
134,119.42 - 160,577.65 17.92%
160,577.66 - 312,149.99 21.36%
312,150.00 - 439,226.50 25.46%
439,226.51 - 566,303.02 28.57%
566,303.03 - 834,605.03 32.00%
834,605.04 and above 35.00%

Working Hours

Statutory

48 hours
8 hours a day, 6 days a week

Typical practice

48 hours
Monday - Saturday

Day: 8 hours from 06:00 - 20:00, 4
Night Shift: 6 hours from 20:00-06:00,

Overtime

Mre than 48 hours per week is classed as overtime

  • Maximum 3 hours per day, 9 hours per week, 2 times payment rate
  • Beyond 9 hours per week, 3 times payment rate

Employment Contract

Fixed-Term

(Contrato por Tiempo Determinado)
Can be used only when required by the nature of the work, or temporarily replace another employee.

Probation

Contract term180 days, 30 days probation. Can be extended up to 180 days for executive or managerial positions.

Public Holiday

7 days

Country Level

Date Name
01 Jan New Year's Day
05 Feb Constitution Day
18 Mar Benito Juárez's birthday
01 May Labour Day
16 Sep Independence Day
18 Nov Revolution Day
25 Dec Christmas Day

Leave

Leave Type Entitlement Notes
Annual Leave 12 working days
Additional 2 days for each year of service capped at 28 days
All staff after 1 year of service
1st yr=12days
2nd yr =14 days
3rd yr =16 days
4th yr =18 days
5th yr =20 days
6th yr =22 days
7th yr =24 days
8th yr =26 days
9th yr = 28 days
18th yr = 28 days
Paid Sick Leave Up to 52 weeks
Fully paid by IMSS
All staff
Maternity Leave 12 weeks
6 before, 6 after birth
Paid by: Employers (70%), Employees (25%), government (5%).
Expectant mothrs
Note can extends up to 8 more weeks if complications determined by (IMSS)
Paternity Leave 5 working days per pregnancy/adoption.
Fully paid by Employer
Leave taken after birth or child placement (adoption).
Expectant fathers.
for mother's death/ complication, additional leave determined/provided b (IMSS)

Reference

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