Chief Innovation Officer Average Salary in Cancun 2024
How much money does a person working as Chief Innovation Officer make in Cancun?
LOW
24,000
MXN AVERAGE
52,300
MXN HIGH
83,100
MXN
A person working as Chief Innovation Officer in Cancun typically earns around 52,300 MXN. Salaries range from 24,000 MXN (lowest) to 83,100 MXN (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Chief Innovation Officer salaries in Cancun vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Innovation Officer Pay Scale and Salaries in Cancun
Salary Structure and Pay Scale Comparison
49,600 MXN or more
43,400 to 49,600 MXN
29,900 MXN or less
29,900 to 43,400 MXN
 24,000 MXN |
50,000 MXN |
83,100 MXN |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Chief Innovation Officer in Cancun range from 24,000 MXN (starting salary) to 83,100 MXN (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 50,000 MXN, half of the professionals who work as Chief Innovation Officer in Cancun earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Chief Innovation Officer in Cancun earn less than 40,300 MXN, while 75% earn more. Similarly, the chart shows that 75% earn less than 57,600 MXN while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Chief Innovation Officer in Cancun compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 29,900 MXN to 43,400 MXN. About 20% of salaries are below the 29,900 MXN mark, while 10% fall within the range of 43,400 MXN to 49,600 MXN. Only 5% of individuals have salaries exceeding 49,600 MXN.
Salary Comparison by Years of Experience / Chief Innovation Officer / Cancun
How do experience and age affect pay?
| 0 - 2 Years | 27,300 MXN | |
| 2 - 5 Years | +34% | 36,400 MXN |
| 5 - 10 Years | +48% | 53,900 MXN |
| 10 - 15 Years | +22% | 65,700 MXN |
| 15 - 20 Years | +9% | 71,600 MXN |
| 20+ Years | +8% | 77,500 MXN |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Chief Innovation Officer and this is what we found.
Employees with less than two years of experience earn approximately 27,300 MXN.
While someone with an experience level between two and five years is expected to earn 36,400 MXN, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 53,900 MXN, 48% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 65,700 MXN, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 71,600 MXN, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 77,500 MXN, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Chief Innovation Officer / Cancun
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Chief Innovation Officer.
| High School | 24,600 MXN | |
| Certificate or Diploma | +24% | 30,500 MXN |
| Bachelor's Degree | +39% | 42,400 MXN |
| Master's Degree | +63% | 68,900 MXN |
| PhD | +20% | 82,500 MXN |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Chief Innovation Officer in order to make a comparison.
Level 1: High School
Employees at this education level have an average salary of 24,600 MXN.
Level 2: Certificate or Diploma
At this level, the average salary becomes 30,500 MXN, 24% more than the previous level.
Level 3: Bachelor's Degree
At this level, the average salary becomes 42,400 MXN, 39% more than the previous level.
Level 4: Master's Degree
At this level, the average salary becomes 68,900 MXN, 63% more than the previous level.
Level 5: PhD
At this level, the average salary becomes 82,500 MXN, 20% more than the previous level.
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 167,000 MXN to 500,000 MXN 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Chief Innovation Officer / Cancun
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Chief Innovation Officer in Mexico, the average difference between the salary of male and female employees is 10%.
| Male | 47,200 MXN | |
| Female | -9% | 43,000 MXN |
Salary Comparison By Gender in Mexico for all Careers
Average Annual Salary Increment Percentage / Chief Innovation Officer / Cancun
How much are annual salary increments in Cancun for individuals working as Chief Innovation Officer? How often do employees get salary raises?
Individuals working as Chief Innovation Officer in Mexico are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
Mexico / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Chief Innovation Officer / Mexico
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/information-technology/it-management/chief-innovation-officer/annual-salary-bonus-rate-mexico-chief-innovation-officer.jpg
100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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.
Average Hourly Wage / Chief Innovation Officer / Cancun
300 MXN per hourThe average hourly wage (pay per hour) for individuals working as Chief Innovation Officer in Cancun is 300 MXN.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
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 fixed 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.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Chief Innovation Officer in Cancun is 140 MXN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Information Technology |  -100% | |
| Assistant Information Technology Manager | 47,700 MXN | -9% |
| Assistant Information Technology Project Manager | 44,800 MXN | -14% |
| Assistant Service Delivery Manager | 45,100 MXN | -14% |
| Capacity Planning Manager | 53,800 MXN |  +3% |
| Chief Artificial Intelligence Officer | 60,700 MXN | +16% |
| Chief Cloud Officer | 60,100 MXN | +15% |
| Chief Data Governance Officer | 57,300 MXN | +10% |
| Chief Data Officer | 59,000 MXN | +13% |
| Chief Digital Ethics Officer | 51,200 MXN | -2% |
| Chief Digital Officer | 59,700 MXN | +14% |
| Chief Information Officer | 65,200 MXN | +25% |
| Chief Innovation Officer | 52,300 MXN | +0% |
| Chief Privacy Officer | 48,500 MXN | -7% |
| Client Delivery Manager | 51,900 MXN | -1% |
| Cloud-Based Inventory Manager | 44,100 MXN | -16% |
| Data Governance Manager | 52,300 MXN | +0% |
| Data Privacy and Protection Manager | 50,200 MXN | -4% |
| Delivery Manager | 39,100 MXN | -25% |
| Development Architect | 38,500 MXN | -26% |
| Development Group Supervisor | 40,500 MXN | -23% |
| Development Manager | 52,100 MXN | -0% |
| Director of Technology | 68,900 MXN | +32% |
| Enterprise Architecture Manager | 47,900 MXN | -8% |
| Enterprise Infrastructure Manager | 59,500 MXN | +14% |
| ERP Project Manager | 52,800 MXN | +1% |
| Financial Systems Manager | 58,100 MXN | +11% |
| Hardware Engineering Manager | 58,400 MXN | +12% |
| Head of Development | 52,100 MXN | -0% |
| Head of Information Technology | 66,400 MXN | +27% |
| Helpdesk Manager | 44,600 MXN | -15% |
| Information Systems Manager | 58,400 MXN | +12% |
| Information Technology Asset Manager | 53,900 MXN | +3% |
| Information Technology Compliance Manager | 57,500 MXN | +10% |
| Information Technology Director | 65,500 MXN | +25% |
| Information Technology Executive | 54,500 MXN | +4% |
| Information Technology Manager | 63,500 MXN | +21% |
| Information Technology Operations Manager | 63,800 MXN | +22% |
| Information Technology Product Manager | 55,900 MXN | +7% |
| Information Technology Project Coordinator | 40,100 MXN | -23% |
| Information Technology Project Leader | 47,000 MXN | -10% |
| Information Technology Project Manager | 61,100 MXN | +17% |
| Information Technology Quality Assurance Manager | 47,500 MXN | -9% |
| Information Technology Quality Assurance Team Lead (QA) | 41,500 MXN | -21% |
| Information Technology Risk Manager | 61,700 MXN | +18% |
| Information Technology Sales Manager | 55,100 MXN | +5% |
| Information Technology Team Leader | 47,100 MXN | -10% |
| Interface Design Manager | 50,800 MXN | -3% |
| Major Incident Manager | 45,400 MXN | -13% |
| Multimedia Services Manager | 42,900 MXN | -18% |
| Network Administration Team Lead | 46,000 MXN | -12% |
| Network and Infrastructure Manager | 61,600 MXN | +18% |
| Service Delivery Manager | 47,800 MXN | -9% |
| Service Level Manager | 51,900 MXN | -1% |
| Service Support Lead | 37,100 MXN | -29% |
| SOC Engineer | 37,900 MXN | -27% |
| Supervisor | 26,600 MXN | -49% |
| Support Team Leader | 37,200 MXN | -29% |
| Technical Manager | 43,400 MXN | -17% |
| Technical Project Manager | 50,800 MXN | -3% |
| Technology Director | 66,000 MXN | +26% |
| Technology Vice President | 50,800 MXN | -3% |
| Virtual / Augmented Reality Director | 52,200 MXN | -0% |
Salary Comparison By City
| City | Average Salary |
| Cancun | 52,300 MXN |
| Guadalajara | 60,200 MXN |
| Mexico City | 61,500 MXN |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Mexico is 9% on average across all career fields.
| Private Sector | 32,000 MXN | |
| Public Sector | +9% | 34,800 MXN |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Chief Innovation Officer in Cancun?
A good and competitive compensation would range anywhere between 50,000 MXN and 57,600 MXN. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Chief Innovation Officer in Cancun ranges from 24,000 MXN to 40,300 MXN. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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
