Financial Manager Average Salary in Cancun 2024
How much money does a person working as Financial Manager make in Cancun?
LOW
40,700
MXN AVERAGE
83,000
MXN HIGH
129,000
MXN
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
Salary Structure and Pay Scale Comparison
77,000 MXN or more
68,000 to 77,000 MXN
48,300 MXN or less
48,300 to 68,000 MXN
 40,700 MXN |
77,400 MXN |
129,000 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 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 |
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.
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.
Typical Salary Progress for Most Careers
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 |
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 and Compensation Comparison By Gender / Financial Manager / 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 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 |
Salary Comparison By Gender in Mexico for all Careers
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.
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 / Financial Manager / Mexico
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/mexico/accounting-and-finance/financial-manager/annual-salary-bonus-rate-mexico-financial-manager.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 / Financial Manager / Cancun
480 MXN per hourThe 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.
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 Title | Average Salary |
| Accounting and Finance |  -100% | |
| Account Examiner | 21,000 MXN | -75% |
| Account Executive | 35,600 MXN | -57% |
| Accountant | 28,200 MXN | -66% |
| Accounting Analyst | 36,500 MXN | -56% |
| Accounting Assistant | 22,400 MXN | -73% |
| Accounting Associate | 20,700 MXN | -75% |
| Accounting Clerk | 17,100 MXN | -79% |
| Accounting Coordinator | 25,200 MXN | -70% |
| Accounting Head | 56,300 MXN | -32% |
| Accounting Manager | 57,800 MXN | -30% |
| Accounting Officer | 20,200 MXN | -76% |
| Accounting Specialist | 37,500 MXN | -55% |
| Accounting Supervisor | 40,600 MXN | -51% |
| Accounting Technician | 19,700 MXN | -76% |
| Accounting Unit Controller | 45,600 MXN | -45% |
| Accounts Executive | 35,400 MXN | -57% |
| Accounts Officer | 22,000 MXN | -73% |
| Accounts Payable and Receivable Specialist | 29,700 MXN | -64% |
| Accounts Payable Assistant | 23,000 MXN | -72% |
| Accounts Payable Associate | 26,500 MXN | -68% |
| Accounts Payable Clerk | 20,500 MXN | -75% |
| Accounts Payable Manager | 55,400 MXN | -33% |
| Accounts Receivable Administrator | 39,600 MXN | -52% |
| Accounts Receivable Clerk | 21,100 MXN | -75% |
| Accounts Receivable Financial Analyst | 39,300 MXN | -53% |
| Accounts Receivable Manager | 56,000 MXN | -33% |
| Accounts Receivable Team Leader | 41,600 MXN | -50% |
| Algorithmic Trading Specialist | 51,300 MXN | -38% |
| Assistant Accountant | 21,400 MXN | -74% |
| Assistant Accounting Manager | 54,800 MXN | -34% |
| Assistant Auditor | 27,100 MXN | -67% |
| Assistant Corporate Controller | 39,000 MXN | -53% |
| Assistant Finance Manager | 57,200 MXN | -31% |
| Assistant Financial Controller | 38,500 MXN | -54% |
| Audit Director | 63,200 MXN | -24% |
| Audit Supervisor | 51,100 MXN | -38% |
| Auditing Clerk | 22,000 MXN | -73% |
| Auditing Manager | 61,500 MXN | -26% |
| Billing Clerk | 20,700 MXN | -75% |
| Billing Coordinator | 25,000 MXN | -70% |
| Billing Specialist | 29,000 MXN | -65% |
| Billing Supervisor | 42,700 MXN | -49% |
| Bookkeeper | 18,600 MXN | -78% |
| Bookkeeping Specialist | 26,800 MXN | -68% |
| Budget Analyst | 49,400 MXN | -40% |
| Budget Manager | 59,900 MXN | -28% |
| Business Support Analyst | 30,600 MXN | -63% |
| Capital Markets Associate | 43,400 MXN | -48% |
| Cash Flow Analyst | 44,500 MXN | -46% |
| Cash Management Manager | 53,500 MXN | -36% |
| Cash Management Officer | 31,500 MXN | -62% |
| Cashbook Clerk | 18,300 MXN | -78% |
| Chartered Accountant | 35,500 MXN | -57% |
| Chief Accountant | 43,900 MXN | -47% |
| Chief Financial Technology Officer | 59,400 MXN | -28% |
| Collections Clerk | 18,100 MXN | -78% |
| Collections Representative | 24,300 MXN | -71% |
| Collections Specialist | 27,500 MXN | -67% |
| Corporate Controller | 46,800 MXN | -44% |
| Corporate Treasurer | 51,600 MXN | -38% |
| Cost Accountant | 28,800 MXN | -65% |
| Cost Accounting Manager | 54,400 MXN | -34% |
| Cost Accounting Supervisor | 46,500 MXN | -44% |
| Cost Analyst | 44,300 MXN | -47% |
| Credit and Collection Manager | 58,100 MXN | -30% |
| Credit and Collection Staff | 21,700 MXN | -74% |
| Credit and Loans Officer | 20,400 MXN | -75% |
| Credit Controller | 40,200 MXN | -52% |
| Credit Manager | 59,500 MXN | -28% |
| Debt Adviser | 48,400 MXN | -42% |
| Debt Collector | 23,900 MXN | -71% |
| Debtors Clerk | 19,000 MXN | -77% |
| Debtors Controller | 20,200 MXN | -76% |
| Deputy CFO | 74,100 MXN | -11% |
| Deputy Head of Finance | 76,300 MXN | -8% |
| Derivative Trader | 50,600 MXN | -39% |
| Director of Finance | 82,700 MXN | -0% |
| E-commerce Accountant | 29,000 MXN | -65% |
| Economist | 66,300 MXN | -20% |
| Equity Analyst | 48,800 MXN | -41% |
| Escrow Assistant | 25,900 MXN | -69% |
| Executive Accountant | 31,100 MXN | -63% |
| External Auditor | 38,000 MXN | -54% |
| Finance Administrator | 34,100 MXN | -59% |
| Finance Analyst | 49,000 MXN | -41% |
| Finance Associate | 25,800 MXN | -69% |
| Finance Data Analyst | 45,900 MXN | -45% |
| Finance Director | 80,200 MXN | -3% |
| Finance Executive | 57,600 MXN | -31% |
| Finance Licensing Clerk | 21,200 MXN | -74% |
| Finance Licensing Manager | 51,400 MXN | -38% |
| Finance Licensing Specialist | 29,600 MXN | -64% |
| Finance Manager | 77,300 MXN | -7% |
| Finance Officer | 25,700 MXN | -69% |
| Finance President | 81,100 MXN | -2% |
| Finance Relationship Manager | 64,400 MXN | -22% |
| Finance Release Analyst | 32,500 MXN | -61% |
| Finance Specialist | 46,300 MXN | -44% |
| Finance Team Leader | 62,900 MXN | -24% |
| Financial Accountant | 27,100 MXN | -67% |
| Financial Actuary | 45,200 MXN | -46% |
| Financial Administrator | 48,900 MXN | -41% |
| Financial Advisor | 51,500 MXN | -38% |
| Financial Analyst | 52,600 MXN | -37% |
| Financial Applications Specialist | 34,600 MXN | -58% |
| Financial Assistant | 22,600 MXN | -73% |
| Financial Associate | 27,500 MXN | -67% |
| Financial Claims Analyst | 38,100 MXN | -54% |
| Financial Claims Manager | 51,100 MXN | -38% |
| Financial Claims Supervisor | 48,100 MXN | -42% |
| Financial Clerk | 21,800 MXN | -74% |
| Financial Commercial Analyst | 41,700 MXN | -50% |
| Financial Compliance Analyst | 45,100 MXN | -46% |
| Financial Compliance Officer | 45,600 MXN | -45% |
| Financial Consultant | 37,300 MXN | -55% |
| Financial Controller | 46,600 MXN | -44% |
| Financial Coordinator | 25,000 MXN | -70% |
| Financial Customer Service Manager | 52,900 MXN | -36% |
| Financial Data Scientist | 54,300 MXN | -35% |
| Financial Dealer and Broker | 31,200 MXN | -62% |
| Financial Director | 85,900 MXN |  +3% |
| Financial Encoder | 23,100 MXN | -72% |
| Financial Manager | 75,200 MXN | -9% |
| Financial Modelling Analyst | 53,100 MXN | -36% |
| Financial Operations Manager | 72,100 MXN | -13% |
| Financial Policy Analyst | 45,400 MXN | -45% |
| Financial Project Manager | 56,500 MXN | -32% |
| Financial Quantitative Analyst | 49,700 MXN | -40% |
| Financial Reporting Consultant | 42,500 MXN | -49% |
| Financial Reporting Manager | 55,900 MXN | -33% |
| Financial Section Head | 56,500 MXN | -32% |
| Financial Services Manager | 69,300 MXN | -17% |
| Financial Services Sales Agent | 29,600 MXN | -64% |
| Financial Technology Consultant | 42,700 MXN | -49% |
| Financial Wellness Coach | 56,500 MXN | -32% |
| FinTech Analyst | 48,100 MXN | -42% |
| Fixed Assets Administrator | 29,500 MXN | -64% |
| Forensic Accountant | 32,500 MXN | -61% |
| Fraud Detection Supervisor | 36,200 MXN | -56% |
| Fraud Prevention Manager | 55,000 MXN | -34% |
| Fund Accountant | 26,100 MXN | -69% |
| Grants Coordinator | 21,300 MXN | -74% |
| Green Finance Analyst | 43,100 MXN | -48% |
| Group Financial Manager | 82,000 MXN | -1% |
| Internal Auditor | 36,800 MXN | -56% |
| Internal Control Adviser | 46,200 MXN | -44% |
| Internal Control Officer | 23,500 MXN | -72% |
| International Tax Director | 69,100 MXN | -17% |
| Inventory Accountant | 28,000 MXN | -66% |
| Investment Advisor | 74,200 MXN | -11% |
| Investment Analyst | 55,600 MXN | -33% |
| Investment Associate | 49,600 MXN | -40% |
| Investment Broker | 47,900 MXN | -42% |
| Investment Fund Manager | 60,500 MXN | -27% |
| Investment Operations Manager | 64,500 MXN | -22% |
| Investment Underwriter | 23,400 MXN | -72% |
| Investor | 37,900 MXN | -54% |
| Investor Relations Manager | 54,200 MXN | -35% |
| KYC Team Leader | 56,600 MXN | -32% |
| Loan Processor | 22,700 MXN | -73% |
| Management Accountant | 32,200 MXN | -61% |
| Management Economist | 62,700 MXN | -24% |
| Paymaster | 23,300 MXN | -72% |
| Payroll Administrator | 36,500 MXN | -56% |
| Payroll Benefits Coordinator | 30,100 MXN | -64% |
| Payroll Billing Manager | 50,500 MXN | -39% |
| Payroll Clerk | 24,500 MXN | -70% |
| Payroll Manager | 52,000 MXN | -37% |
| Payroll Officer | 24,400 MXN | -71% |
| Payroll Specialist | 29,600 MXN | -64% |
| Payroll Supervisor | 36,800 MXN | -56% |
| Pensions Administrator | 28,500 MXN | -66% |
| Personal Financial Advisor | 41,900 MXN | -50% |
| Pricing Analyst | 47,200 MXN | -43% |
| Private Equity Analyst | 47,700 MXN | -43% |
| Project Accountant | 31,100 MXN | -63% |
| Proposal Development Coordinator | 23,900 MXN | -71% |
| Quantitative Trader | 40,700 MXN | -51% |
| Receivables Accountant | 27,100 MXN | -67% |
| Regulatory Accountant | 31,900 MXN | -62% |
| Retirement Plan Analyst | 46,800 MXN | -44% |
| Revenue Management Specialist | 44,600 MXN | -46% |
| Revenue Recognition Analyst | 52,800 MXN | -36% |
| Risk Management Director | 66,300 MXN | -20% |
| Risk Management Supervisor | 55,400 MXN | -33% |
| Staff Accountant | 28,200 MXN | -66% |
| Tax Accountant | 26,400 MXN | -68% |
| Tax Administrator | 29,700 MXN | -64% |
| Tax Advisor | 42,600 MXN | -49% |
| Tax Analyst | 43,200 MXN | -48% |
| Tax Associate | 24,000 MXN | -71% |
| Tax Consultant | 45,600 MXN | -45% |
| Tax Director | 67,200 MXN | -19% |
| Tax Examiner | 29,800 MXN | -64% |
| Tax Manager | 57,900 MXN | -30% |
| Tax Research Manager | 58,800 MXN | -29% |
| Teller | 17,400 MXN | -79% |
| Treasury Accountant | 29,500 MXN | -64% |
| Treasury Analyst | 47,700 MXN | -43% |
| Underwriter | 19,200 MXN | -77% |
| Underwriting Assistant | 18,300 MXN | -78% |
| Vice President of Finance | 80,500 MXN | -3% |
Salary Comparison By City
| City | Average Salary |
| Cancun | 83,000 MXN |
| Guadalajara | 83,400 MXN |
| Mexico City | 82,900 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 |
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
