Average Economic Development Specialist Salary in Cordoba, Mexico for 2024

In this article, we will look at the average Economic Development Specialist salary for 2024 in Cordoba and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Mexican peso. To keep things simple, we are using the MXN currency code instead of the currency symbol $.

How Much Does an Economic Development Specialist Make in Cordoba?

An Economic Development Specialist working in Cordoba will typically earn around 518,900 MXN per year, and this can range from the lowest average salary of about 254,700 MXN to the highest average salary of 810,500 MXN.

These are average salaries for an Economic Development Specialist in Cordoba and include benefits such as housing and transport. It's also possible for an Economic Development Specialist to earn more or less than the average salaries shown above.

Economic Development Specialist salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Economic Development Specialist Salaries in Cordoba

So we've looked at the average salaries an Economic Development Specialist will earn in Cordoba. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Economic Development Specialist can earn between 254,700 MXN and 810,500 MXN on average in Cordoba. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Economic Development Specialist in Cordoba is 529,600 MXN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 529,600 MXN, and 50% of the population earn more than 529,600 MXN.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Economic Development Specialist salary in Cordoba, 25% of the population are earning less than 351,200 MXN while 75% of the population earn more than 351,200 MXN.

75% of the population earn less than 684,900 MXN, and 25% of the population earn more than 684,900 MXN.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

Economic Development Specialist Salary by Experience Level in Cordoba

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average economic development specialist salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

• 0 - 2 Years Experience. An Economic Development Specialist in Cordoba that has less than two years of experience can expect to earn somewhere in the region of 301,600 MXN.
• 2 - 5 Years Experience. With two to five years of experience the average Economic Development Specialist salary would increase to 389,200 MXN.
• 5 - 10 Years Experience. From five to ten years of experience as an Economic Development Specialist, the average salary would be 535,800 MXN.
• 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 663,100 MXN.
• 15 - 20 Years Experience. An Economic Development Specialist with 15 to 20 years of experience can earn an average of 710,500 MXN.
• 20+ Years Experience. For an Economic Development Specialist with more than 20 years, the expected average salary increases to 756,700 MXN.

Average Salary by Experience Chart

Economic Development Specialist Salary by Education Level in Cordoba

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Economic Development Specialist in Cordoba based on the education level of the employees in order to find out whether a better education level would increase your salary.

• Bachelor's Degree. An Economic Development Specialist in Cordoba with a bachelor's degree education can earn an average salary of 354,000 MXN.

• Master's Degree. An Economic Development Specialist in Cordoba with a master's degree education can earn an average salary of 489,600 MXN.

• PhD. An Economic Development Specialist in Cordoba with a phd education can earn an average salary of 800,500 MXN.

Average Salary by Education Chart

Economic Development Specialist Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Cordoba, a male economic development specialist will earn an average of 671,000 MXN, while a female economic development specialist will earn around 597,800 MXN.

This means that a male economic development specialist earns approximately 12% more than a female economic development specialist for performing the same job.

Average Salary by Gender Chart in Cordoba

Economic Development Specialist Average Pay Raise in Cordoba

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Economic Development Specialist in Cordoba is around 11% every 18 months.

The national average pay raise across all professions and industries in Mexico is around 8% every 18 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 11 ÷ 18 ) × 12  = 7%

What this means is that an Economic Development Specialist in Cordoba can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Cordoba for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Mexico.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Economic Development Specialist Bonus and Incentive Rates in Cordoba

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Economic Development Specialist is a moderate bonus based job, with 52% of employees reporting at least one bonus in the last 12 months.

48% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 5%.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Mexico earn approximately 8% more than private sector employees in the same role.

Salaries for Jobs Similar to an Economic Development Specialist

In the table below, we have salary information for jobs that are similar to an Economic Development Specialist in Cordoba.

Salary Comparison by City

If you want to compare salaries with different cities in Mexico, you can use the links below to explore the data for each specific city we have researched.

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