I often hear from blog followers who tell me they plan to move to Mexico to take advantage of the low cost of living; however, their plan is to work here doing the same type of job or profession they currently have.
Most of these folks haven’t done any type of salary research and are operating under the mistaken impression that the salaries for skilled labor (e.g. engineers, IT professionals) will either be on par or only slightly lower than what they’re used to back home — but unfortunately, that’s rarely the case.
Let’s Take a Look at the Numbers
To give you some idea of what the average salaries are like in Mexico, I’ve created a chart showing the median salary for 20 randomly selected occupations in Mexico.
I would like to point out that Mexico is a very large country and salaries can vary quite a bit from area to area. The chart below reflects the nationwide salary averages for someone with 10 years of experience in the listed position.
The minimum wage in Mexico is $88.36 pesos ($4.42 USD) a day. Yes, you read that correctly — a day.
How to Conduct Your Own Research
It’s easy to do some research online using a site called misalario.org. It contains detailed salary data on a long list of occupations and it even adjusts the numbers based on factors like years of experience. That’s where I obtained the data presented in the previous section.
Here’s a link to the part of the site where you can conduct your own research:
Another effective way is to look through the job sites for Mexico. There are several of them out there, but here’s one link to get you started:
Let’s Wrap This Up
Although the salaries in Mexico are considerably lower than they are in countries like the U.S. or Canada, it’s important to keep in mind that the cost of living is also much lower. That’s why Mexico is a popular choice for American and Canadian retirees who want to make their limited retirement funds go as far as possible.