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Financial Manager Average Salary in Cancun 2024

How much money does a person working as Financial Manager make in Cancun?


Average Monthly Salary
83,000 MXN
( 996,000 MXN yearly)

LOW
40,700
MXN
AVERAGE
83,000
MXN
HIGH
129,000
MXN
All salary figures displayed here are per month except when noted otherwise.
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.

A person working as Financial Manager in Cancun typically earns around 83,000 MXN. Salaries range from 40,700 MXN (lowest) to 129,000 MXN (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Financial Manager salaries in Cancun vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Financial Manager Pay Scale and Salaries in Cancun

Median and salary distribution Cancun Financial Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
77,000 MXN or more
10% of people earn
68,000 to 77,000 MXN
20% of people earn
48,300 MXN or less
65% of people earn
48,300 to 68,000 MXN
Minimum Salary
40,700 MXN
Median
77,400 MXN
Maximum
129,000 MXN




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Financial Manager in Cancun range from 40,700 MXN (starting salary) to 129,000 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 77,400 MXN, half of the professionals who work as Financial Manager 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 Financial Manager in Cancun earn less than 63,300 MXN, while 75% earn more. Similarly, the chart shows that 75% earn less than 88,500 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 Financial Manager in Cancun compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 48,300 MXN to 68,000 MXN. About 20% of salaries are below the 48,300 MXN mark, while 10% fall within the range of 68,000 MXN to 77,000 MXN. Only 5% of individuals have salaries exceeding 77,000 MXN.

Salary Comparison by Years of Experience / Financial Manager / Cancun

How do experience and age affect pay?

0 - 2 Years
48,200 MXN
2 - 5 Years+29%
62,000 MXN
5 - 10 Years+38%
85,500 MXN
10 - 15 Years+24%
106,000 MXN
15 - 20 Years+7%
113,000 MXN
20+ Years+7%
121,000 MXN
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Cancun Financial Manager
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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 Financial Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 48,200 MXN.

While someone with an experience level between two and five years is expected to earn 62,000 MXN, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 85,500 MXN, 38% 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 106,000 MXN, 24% 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 113,000 MXN, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 121,000 MXN, 7% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Financial Manager / Cancun

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Financial Manager.

Certificate or Diploma
62,000 MXN
Bachelor's Degree+34%
83,300 MXN
Master's Degree+53%
128,000 MXN
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Cancun Financial Manager
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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 Financial Manager in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 62,000 MXN.


Level 2: Bachelor's Degree

At this level, the average salary becomes 83,300 MXN, 34% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 128,000 MXN, 53% 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 Comparison By Education Level
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Salary and Compensation Comparison By Gender / Financial Manager / Cancun

Salary comparison by gender Mexico Financial Manager monthly
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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 Financial Manager in Mexico, the average difference between the salary of male and female employees is 6%.

Male
69,300 MXN
Female-6%
65,300 MXN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Mexico for all Careers

Salary comparison by gender monthly Mexico
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Average Annual Salary Increment Percentage / Financial Manager / Cancun

How much are annual salary increments in Cancun for individuals working as Financial Manager? How often do employees get salary raises?

Individuals working as Financial Manager 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.

Annual Salary Increment Rate Mexico Financial Manager
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Mexico / All Professions

Annual Salary Increment Rate Mexico
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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

The average salary increase in one year (12 months) in Mexico is 5%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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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 / Financial Manager / Mexico

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Mexico Financial Manager
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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 Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, 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 Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These 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 GeneratorsSupporting 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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

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 / Financial Manager / Cancun


480 MXN per hour

The average hourly wage (pay per hour) for individuals working as Financial Manager in Cancun is 480 MXN.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

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 Financial Manager in Cancun is 230 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 TitleAverage Salary
Accounting and Finance-100%
Account Examiner21,000 MXN-75%
Account Executive35,600 MXN-57%
Accountant28,200 MXN-66%
Accounting Analyst36,500 MXN-56%
Accounting Assistant22,400 MXN-73%
Accounting Associate20,700 MXN-75%
Accounting Clerk17,100 MXN-79%
Accounting Coordinator25,200 MXN-70%
Accounting Head56,300 MXN-32%
Accounting Manager57,800 MXN-30%
Accounting Officer20,200 MXN-76%
Accounting Specialist37,500 MXN-55%
Accounting Supervisor40,600 MXN-51%
Accounting Technician19,700 MXN-76%
Accounting Unit Controller45,600 MXN-45%
Accounts Executive35,400 MXN-57%
Accounts Officer22,000 MXN-73%
Accounts Payable and Receivable Specialist29,700 MXN-64%
Accounts Payable Assistant23,000 MXN-72%
Accounts Payable Associate26,500 MXN-68%
Accounts Payable Clerk20,500 MXN-75%
Accounts Payable Manager55,400 MXN-33%
Accounts Receivable Administrator39,600 MXN-52%
Accounts Receivable Clerk21,100 MXN-75%
Accounts Receivable Financial Analyst39,300 MXN-53%
Accounts Receivable Manager56,000 MXN-33%
Accounts Receivable Team Leader41,600 MXN-50%
Algorithmic Trading Specialist51,300 MXN-38%
Assistant Accountant21,400 MXN-74%
Assistant Accounting Manager54,800 MXN-34%
Assistant Auditor27,100 MXN-67%
Assistant Corporate Controller39,000 MXN-53%
Assistant Finance Manager57,200 MXN-31%
Assistant Financial Controller38,500 MXN-54%
Audit Director63,200 MXN-24%
Audit Supervisor51,100 MXN-38%
Auditing Clerk22,000 MXN-73%
Auditing Manager61,500 MXN-26%
Billing Clerk20,700 MXN-75%
Billing Coordinator25,000 MXN-70%
Billing Specialist29,000 MXN-65%
Billing Supervisor42,700 MXN-49%
Bookkeeper18,600 MXN-78%
Bookkeeping Specialist26,800 MXN-68%
Budget Analyst49,400 MXN-40%
Budget Manager59,900 MXN-28%
Business Support Analyst30,600 MXN-63%
Capital Markets Associate43,400 MXN-48%
Cash Flow Analyst44,500 MXN-46%
Cash Management Manager53,500 MXN-36%
Cash Management Officer31,500 MXN-62%
Cashbook Clerk18,300 MXN-78%
Chartered Accountant35,500 MXN-57%
Chief Accountant43,900 MXN-47%
Chief Financial Technology Officer59,400 MXN-28%
Collections Clerk18,100 MXN-78%
Collections Representative24,300 MXN-71%
Collections Specialist27,500 MXN-67%
Corporate Controller46,800 MXN-44%
Corporate Treasurer51,600 MXN-38%
Cost Accountant28,800 MXN-65%
Cost Accounting Manager54,400 MXN-34%
Cost Accounting Supervisor46,500 MXN-44%
Cost Analyst44,300 MXN-47%
Credit and Collection Manager58,100 MXN-30%
Credit and Collection Staff21,700 MXN-74%
Credit and Loans Officer20,400 MXN-75%
Credit Controller40,200 MXN-52%
Credit Manager59,500 MXN-28%
Debt Adviser48,400 MXN-42%
Debt Collector23,900 MXN-71%
Debtors Clerk19,000 MXN-77%
Debtors Controller20,200 MXN-76%
Deputy CFO74,100 MXN-11%
Deputy Head of Finance76,300 MXN-8%
Derivative Trader50,600 MXN-39%
Director of Finance82,700 MXN-0%
E-commerce Accountant29,000 MXN-65%
Economist66,300 MXN-20%
Equity Analyst48,800 MXN-41%
Escrow Assistant25,900 MXN-69%
Executive Accountant31,100 MXN-63%
External Auditor38,000 MXN-54%
Finance Administrator34,100 MXN-59%
Finance Analyst49,000 MXN-41%
Finance Associate25,800 MXN-69%
Finance Data Analyst45,900 MXN-45%
Finance Director80,200 MXN-3%
Finance Executive57,600 MXN-31%
Finance Licensing Clerk21,200 MXN-74%
Finance Licensing Manager51,400 MXN-38%
Finance Licensing Specialist29,600 MXN-64%
Finance Manager77,300 MXN-7%
Finance Officer25,700 MXN-69%
Finance President81,100 MXN-2%
Finance Relationship Manager64,400 MXN-22%
Finance Release Analyst32,500 MXN-61%
Finance Specialist46,300 MXN-44%
Finance Team Leader 62,900 MXN-24%
Financial Accountant27,100 MXN-67%
Financial Actuary45,200 MXN-46%
Financial Administrator48,900 MXN-41%
Financial Advisor51,500 MXN-38%
Financial Analyst52,600 MXN-37%
Financial Applications Specialist34,600 MXN-58%
Financial Assistant22,600 MXN-73%
Financial Associate27,500 MXN-67%
Financial Claims Analyst38,100 MXN-54%
Financial Claims Manager51,100 MXN-38%
Financial Claims Supervisor48,100 MXN-42%
Financial Clerk21,800 MXN-74%
Financial Commercial Analyst41,700 MXN-50%
Financial Compliance Analyst45,100 MXN-46%
Financial Compliance Officer45,600 MXN-45%
Financial Consultant37,300 MXN-55%
Financial Controller46,600 MXN-44%
Financial Coordinator25,000 MXN-70%
Financial Customer Service Manager52,900 MXN-36%
Financial Data Scientist54,300 MXN-35%
Financial Dealer and Broker31,200 MXN-62%
Financial Director85,900 MXN+3%
Financial Encoder23,100 MXN-72%
Financial Manager75,200 MXN-9%
Financial Modelling Analyst53,100 MXN-36%
Financial Operations Manager72,100 MXN-13%
Financial Policy Analyst45,400 MXN-45%
Financial Project Manager56,500 MXN-32%
Financial Quantitative Analyst49,700 MXN-40%
Financial Reporting Consultant42,500 MXN-49%
Financial Reporting Manager55,900 MXN-33%
Financial Section Head56,500 MXN-32%
Financial Services Manager69,300 MXN-17%
Financial Services Sales Agent29,600 MXN-64%
Financial Technology Consultant42,700 MXN-49%
Financial Wellness Coach56,500 MXN-32%
FinTech Analyst48,100 MXN-42%
Fixed Assets Administrator29,500 MXN-64%
Forensic Accountant32,500 MXN-61%
Fraud Detection Supervisor36,200 MXN-56%
Fraud Prevention Manager55,000 MXN-34%
Fund Accountant26,100 MXN-69%
Grants Coordinator21,300 MXN-74%
Green Finance Analyst43,100 MXN-48%
Group Financial Manager82,000 MXN-1%
Internal Auditor36,800 MXN-56%
Internal Control Adviser46,200 MXN-44%
Internal Control Officer23,500 MXN-72%
International Tax Director69,100 MXN-17%
Inventory Accountant28,000 MXN-66%
Investment Advisor74,200 MXN-11%
Investment Analyst55,600 MXN-33%
Investment Associate49,600 MXN-40%
Investment Broker47,900 MXN-42%
Investment Fund Manager60,500 MXN-27%
Investment Operations Manager64,500 MXN-22%
Investment Underwriter23,400 MXN-72%
Investor37,900 MXN-54%
Investor Relations Manager54,200 MXN-35%
KYC Team Leader56,600 MXN-32%
Loan Processor22,700 MXN-73%
Management Accountant32,200 MXN-61%
Management Economist62,700 MXN-24%
Paymaster23,300 MXN-72%
Payroll Administrator36,500 MXN-56%
Payroll Benefits Coordinator30,100 MXN-64%
Payroll Billing Manager50,500 MXN-39%
Payroll Clerk24,500 MXN-70%
Payroll Manager52,000 MXN-37%
Payroll Officer24,400 MXN-71%
Payroll Specialist29,600 MXN-64%
Payroll Supervisor36,800 MXN-56%
Pensions Administrator28,500 MXN-66%
Personal Financial Advisor41,900 MXN-50%
Pricing Analyst47,200 MXN-43%
Private Equity Analyst47,700 MXN-43%
Project Accountant31,100 MXN-63%
Proposal Development Coordinator23,900 MXN-71%
Quantitative Trader40,700 MXN-51%
Receivables Accountant27,100 MXN-67%
Regulatory Accountant31,900 MXN-62%
Retirement Plan Analyst46,800 MXN-44%
Revenue Management Specialist44,600 MXN-46%
Revenue Recognition Analyst52,800 MXN-36%
Risk Management Director66,300 MXN-20%
Risk Management Supervisor55,400 MXN-33%
Staff Accountant28,200 MXN-66%
Tax Accountant26,400 MXN-68%
Tax Administrator29,700 MXN-64%
Tax Advisor42,600 MXN-49%
Tax Analyst43,200 MXN-48%
Tax Associate24,000 MXN-71%
Tax Consultant45,600 MXN-45%
Tax Director67,200 MXN-19%
Tax Examiner29,800 MXN-64%
Tax Manager57,900 MXN-30%
Tax Research Manager58,800 MXN-29%
Teller17,400 MXN-79%
Treasury Accountant29,500 MXN-64%
Treasury Analyst47,700 MXN-43%
Underwriter19,200 MXN-77%
Underwriting Assistant18,300 MXN-78%
Vice President of Finance80,500 MXN-3%

Salary Comparison By City

CityAverage Salary
Cancun83,000 MXN
Guadalajara83,400 MXN
Mexico City82,900 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
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Financial Manager in Cancun?

A good and competitive compensation would range anywhere between 77,400 MXN and 88,500 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 Financial Manager in Cancun ranges from 40,700 MXN to 63,300 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


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