Mexican Daily Mininum Wage Increases to Just $88.36

[snowyco]

Despite the early higher 'predictions' (aka rumors),  the Mexican minimum wage for Mexico  City  is increasing to only $88.36 pesos diarios,  effective Dec. 1, 2017.
Note that this (Mexico City) Mexican federal government rate is the value used for calculating INM Resident visa income requirements etc.

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Here's added info about how the Salario Minimo increases affect the INM and SRE Residente Visa personal fiscal solvency requirements.

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https://yucalandia.com/2017/11/22/mexico-city-minimum-wages-salario-minimo-going-up-dec-1-2017/

[pappysmarket]

Has anyone here ever hired a worker for the minimum wage? Does anyone personally know a Mexican who works for the minimum? If so, what exactly does that person do? I realize that there must be some that do but I have never hired or personally known one and am curious what you get for a minimum wage employee. Perhaps a very hard working, productive person and I do not mean to put down anyone in that position but am looking to hear from someone with actual experience as opposed to "well, obviously some people do" type of response.

[AngusMactavish]

 

15 minutes ago, pappysmarket said:

Has anyone here ever hired a worker for the minimum wage? Does anyone personally know a Mexican who works for the minimum? If so, what exactly does that person do? 

I do not hire agricultural workers, so no.

[pappysmarket]

Thank you Angus.

[snowyco]

22 hours ago, pappysmarket said:

Has anyone here ever hired a worker for the minimum wage? Does anyone personally know a Mexican who works for the minimum? If so, what exactly does that person do? I realize that there must be some that do but I have never hired or personally known one and am curious what you get for a minimum wage employee. Perhaps a very hard working, productive person and I do not mean to put down anyone in that position but am looking to hear from someone with actual experience as opposed to "well, obviously some people do" type of response.

The daily minimum wage for Mexico  City  is a special beast, generally used for determining various fees, fines, & personal solvency (INM & SRE) thresholds.

It only applies to the entire country  geographic zones that choose to use it,   but   it only applies to the lowest kind of work (like a trash guy or gardener- or ag. worker). Other occupations (like architects, engineers, teachers, et al) have their own higher minimum daily wages. ... Other geographic zones also have their own daily minimum wage tables.

This webpage has the official Mexican Gob. links to all the various minimum daily wage values, nationwide:
https://www.gob.mx/conasami/documentos/tabla-de-salarios-minimos-generales-y-profesionales-por-areas-geograficas

[pappysmarket]

Thank you snowyco.

[More Liana]

As of October 2015 the system of different salaries (including minimum wage) in different parts of the country was removed.  Prior to October 1, 2015, Mexico City, Guadalajara, and other cities had different minimum wages divided into several zones.  THAT SYSTEM NO LONGER EXISTS.   You can check it by going to the posted link to the Tabla de Salarios Mínimos page.  Look at the listing for April 2015, where the different zones are shown, and then look at the listing for October 1, 2015--where they are gone and instead the site says, AREA GEOGRÁFICA ÚNICA at the top of the right-hand column.

The information posted by Snowyco aka Yucalandia is completely incorrect.  The original article, posted by in Spanish by Televisa News, does not mention anything about the minimum wage in Mexico City.  I read it twice to make sure.  It is entirely about the minimum wage in the whole country.

Sheesh.  Talk about spreading rumors and erroneous information.

[snowyco]

1 hour ago, More Liana said:

As of October 2015 the system of different salaries (including minimum wage) in different parts of the country was removed.  Prior to October 1, 2015, Mexico City, Guadalajara, and other cities had different minimum wages divided into several zones.  THAT SYSTEM NO LONGER EXISTS.   You can check it by going to the posted link to the Tabla de Salarios Mínimos page.  Look at the listing for April 2015, where the different zones are shown, and then look at the listing for October 1, 2015--where they are gone and instead the site says, AREA GEOGRÁFICA ÚNICA at the top of the right-hand column.

The information posted by Snowyco aka Yucalandia is completely incorrect.  The original article, posted by in Spanish by Televisa News, does not mention anything about the minimum wage in Mexico City.  I read it twice to make sure.  It is entirely about the minimum wage in the whole country.

Sheesh.  Talk about spreading rumors and erroneous information.

That's a good update on the one (1) bit that was off.

Rather than broadly trashing all the information, notice that all the  important   fiscal $$   values are correct.

= = = = = = =
Note that    the $88.36 Salario Minimo figure is correct.

= = = = = = =
Note that   these Residente Permanente  Personal Fiscal Solvency  requirements   $$ figures  are correct

Financial Independence (Savings or Income or Property) Requirements for Permanent Residency / Residente Permanente Applicants

… Average Monthly Balance of about $94,000 USD (exactly $1,767,200 pesos) at $19:1 MXN:USD for Residente Permanente

= = = = = = =
Note that   these Residente Permanente   $$ figures   are correct:

Using Method of Regular Deposits of Income or Pension Receipts: (for Residente Permanente)
~ Have minimum monthly (investment account or work?) income deposits or pension deposits that are the equivalent of five hundred days worth of the current minimum wage ($88.36 for 2018) in the Federal District, for each of the previous six months – with original and copies of original bank statement. This translates to:
… about $2,100 USD (exactly $44,180 pesos  for 2018) a month of regular deposits for one Residente Permanente.


= = = = = = =
Note that   these Residente Temporal   $$ figures   are correct:

Using Method of Monthly  Deposits of Income or Pension Receipts: ( for Resident Temporal)
~ Have minimum pension or salary deposits/income that is the equivalent of  Monthly income of 300 days minimum wage of the current minimum wage in the Federal District ($88.36 pesos per day for 2018) …  $26,508 pesos or about $1,400 US a month in deposits,  reported for each of the previous six months – with original and copies of original bank statement for one Residente Temporal.

Current 2018 DF general minimum wages of $88.36 MXN pesos per day, converted at the current exchange rate of 19:1 pesos to US dollars, for 300 days of wages:
~ About $1,400 USD (exactly $26,508 pesos) per month ~ in 2018 of regular Deposits ~ to qualify for Residente Temporal … per the 10/10/2014 Lineamientos for Mexican Consulates.

= = = = = = =
Note that   these Residente Temporal   $$ figures   are correct:

Residente Temporal Income or Deposits or Bank Balance Requirements for Family Members of a Mexican Citizen:
Using average minimum required monthly Account balance for 6 months: 300 days x $88.36 MW = $26,508 pesos for Residente Temporal applicants.

Using minimum required monthly pension or income: 100 days x $88.36 MW = $8,836 pesos of 2018 monthly pension income (or generic income deposits at some INM offices) for Residente Temporal applicants, documented by 6 months of Bank statements (about $470 USD @ 19:1).

= = = = = = =
Note that   these Residente Temporal   $$ figures   are correct:

Using Method of Owning Real Estate Property in Mexico: (Residente Temporal)
~ Own/have real property trustee rights, with a value equivalent to forty thousand days of general minimum wage in the Federal District, with original and copy of written proof from a Notario.   At the current $19:1 MXN:USD exchange rate, this translates to:

… About $187,000 USD (exactly $3,534,400 pesos) worth of property for one Residente Temporal applicant.

= = = = = = = =

[Al Berca]

Thank you, More Liana. Appreciate you taking the time to correct the outdated and erroneous information that was posted.

[Mainecoons]

Well, thanks to both More Liana and Snowy for both the corrections and the correct information.

My that income requirement for getting a visa here is getting pretty rich, no?  

[AngusMactavish]

11 minutes ago, Mainecoons said:

My that income requirement for getting a visa here is getting pretty rich, no?  

Yeah!

[More Liana]

3 hours ago, snowyco said:

That's a good update on the one (1) bit that was off.

Rather than broadly trashing all the information, notice that all the  important   fiscal $$   values are correct.

= = = = = = =
Note that    the $88.36 Salario Minimo figure is correct.

= = = = = = =
Note that   these Residente Permanente  Personal Fiscal Solvency  requirements   $$ figures  are correct

Financial Independence (Savings or Income or Property) Requirements for Permanent Residency / Residente Permanente Applicants

… Average Monthly Balance of about $94,000 USD (exactly $1,767,200 pesos) at $19:1 MXN:USD for Residente Permanente

= = = = = = =
Note that   these Residente Permanente   $$ figures   are correct:

Using Method of Regular Deposits of Income or Pension Receipts: (for Residente Permanente)
~ Have minimum monthly (investment account or work?) income deposits or pension deposits that are the equivalent of five hundred days worth of the current minimum wage ($88.36 for 2018) in the Federal District, for each of the previous six months – with original and copies of original bank statement. This translates to:
… about $2,100 USD (exactly $44,180 pesos  for 2018) a month of regular deposits for one Residente Permanente.


= = = = = = =
Note that   these Residente Temporal   $$ figures   are correct:

Using Method of Monthly  Deposits of Income or Pension Receipts: ( for Resident Temporal)
~ Have minimum pension or salary deposits/income that is the equivalent of  Monthly income of 300 days minimum wage of the current minimum wage in the Federal District ($88.36 pesos per day for 2018) …  $26,508 pesos or about $1,400 US a month in deposits,  reported for each of the previous six months – with original and copies of original bank statement for one Residente Temporal.

Current 2018 DF general minimum wages of $88.36 MXN pesos per day, converted at the current exchange rate of 19:1 pesos to US dollars, for 300 days of wages:
~ About $1,400 USD (exactly $26,508 pesos) per month ~ in 2018 of regular Deposits ~ to qualify for Residente Temporal … per the 10/10/2014 Lineamientos for Mexican Consulates.

= = = = = = =
Note that   these Residente Temporal   $$ figures   are correct:

Residente Temporal Income or Deposits or Bank Balance Requirements for Family Members of a Mexican Citizen:
Using average minimum required monthly Account balance for 6 months: 300 days x $88.36 MW = $26,508 pesos for Residente Temporal applicants.

Using minimum required monthly pension or income: 100 days x $88.36 MW = $8,836 pesos of 2018 monthly pension income (or generic income deposits at some INM offices) for Residente Temporal applicants, documented by 6 months of Bank statements (about $470 USD @ 19:1).

= = = = = = =
Note that   these Residente Temporal   $$ figures   are correct:

Using Method of Owning Real Estate Property in Mexico: (Residente Temporal)
~ Own/have real property trustee rights, with a value equivalent to forty thousand days of general minimum wage in the Federal District, with original and copy of written proof from a Notario.   At the current $19:1 MXN:USD exchange rate, this translates to:

… About $187,000 USD (exactly $3,534,400 pesos) worth of property for one Residente Temporal applicant.

= = = = = = = =

Excuse me, snowyco, but you didn't post any of this information in your earlier posts.  You only posted incorrect information about where the new minimum wage would be paid.  CYA all you want with big bold letters, but the facts of your earlier posts are still incorrect.

[AngusMactavish]

The information I give, right or wrong, comes with a double your money back guarantee.

 

 

[carcamal]

 

The link below, from a year ago and before the latest minimum wage increase, said that up to seven million workers in Mexico make the minimum wage, which at that time was 1,726 pesos per month or roughly $96 U. S. at that time. This would be for a six day work week, eight hours per day if a day shift. 

http://www.excelsior.com.mx/nacional/2016/11/25/1130448

[pappysmarket]

I guess the answer to my question is no.