Image credits: Steve Johnson on Unsplash
News Article

Which Are the Best Paying Careers in Mexico?

By Cas Biekmann | Thu, 04/16/2020 - 12:29

The OECD estimated that 61 percent of those between 15 and 64 years of age have a paid job in Mexico. This is around 7 percent lower than the OECD’s average. Plus, the average household’s net-adjusted disposable income per capita is substantially lower than the average of US$33,604 per year. A lot of this is due to Mexico’s reliance on informal work, leading somewhat linearly toward precarious work conditions. But which jobs are higher paid and will this remain so after the crisis?

During the current pandemic, few would argue that there are careers more important than medical professions. Figures from 2019 provided by the Mexican Competitivity Institute (IMCO) show that medicine is the best paying career in Mexico with an average monthly salary of MX$17,449 (US$720). Nonetheless, there are some disparities as doctors and highly trained medical personnel receive quite a bit more, against the somewhat underpaid nurses and specialized cleaning staff, who receive around MX$8,000 (US$330) to MX$18,000 (US$742) per month, according to IMSS. The state of Michoacan has introduced new salary increases with the aim of rewarding its personnel risking their lives while attending COVID-19 patients. Governor Silvano Aureoles Conejo reported on Monday that the state aimed for a 60 percent increase in the salary of doctors and nurses who are at the forefront of the battle.

IMCO reports the best paid jobs are the following, after  (considering monthly wages):

  1. Electronics and automatization: MX$15,109 (US$623)
  2. Environmental science: MX$14,320 (US$590)
  3. Advertising and marketing: MX$13,765 (US$568)
  4. Business and management:  MX$13,750 (US$567)
  5. Accounting: MX$13,357 (US$551)
  6. Mathematics: MX$13,232 (US$546)
  7. Construction and civil engineering MX$12,858 (US$530)
  8. Mechanical engineering: MX$12,843 (US$529)
  9. Industrial, electrical and technical engineering: MX$12,581 (US$518)

IMCO’s information furthermore shows that careers in music and performing arts pay the worst, followed by alternative education services and social work, all well below MX$9,000 (US$371) monthly wages. Whether this ranking will be completely different in 2021 due to the effects of COVID-19 remains difficult to predict, according to various experts at Forbes and the Financial Times. For the moment, many governments and companies are encouraging either voluntary or mandatory pay cuts.

The data used in this article was sourced from:  
OECD, IMSS, Financial Times, Forbes
Cas Biekmann Cas Biekmann Journalist and Industry Analyst