Average Product Manager Salary in Mexico for 2024

In this article, we will look at the average Product Manager salary for 2024 in Mexico 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 a Product Manager Make in Mexico?

A Product Manager working in Mexico will typically earn around 568,500 MXN per year, and this can range from the lowest average salary of about 309,800 MXN to the highest average salary of 862,100 MXN.

Average Annual Salary
568,500 MXN
Average Monthly Salary
47,375 MXN

Lowest Annual Salary
309,800 MXN
Lowest Monthly Salary
25,816 MXN

Highest Annual Salary
862,100 MXN
Highest Monthly Salary
71,841 MXN

These are average salaries for a Product Manager in Mexico and include benefits such as housing and transport. It's also possible for a Product Manager to earn more or less than the average salaries shown above.

Product Manager 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 Product Manager Salaries in Mexico

So we've looked at the average salaries a Product Manager will earn in Mexico. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Product Manager can earn between 309,800 MXN and 862,100 MXN on average in Mexico. 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 a Product Manager in Mexico is 524,700 MXN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 524,700 MXN, and 50% of the population earn more than 524,700 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 Product Manager salary in Mexico, 25% of the population are earning less than 375,200 MXN while 75% of the population earn more than 375,200 MXN.

75% of the population earn less than 638,700 MXN, and 25% of the population earn more than 638,700 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.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Product Manager Salary by Experience Level in Mexico

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 product manager 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. A Product Manager in Mexico that has less than two years of experience can expect to earn somewhere in the region of 357,700 MXN.
  • 2 - 5 Years Experience. With two to five years of experience the average Product Manager salary would increase to 453,200 MXN.
  • 5 - 10 Years Experience. From five to ten years of experience as a Product Manager, the average salary would be 596,100 MXN.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 701,400 MXN.
  • 15 - 20 Years Experience. A Product Manager with 15 to 20 years of experience can earn an average of 773,400 MXN.
  • 20+ Years Experience. For a Product Manager with more than 20 years, the expected average salary increases to 824,800 MXN.

Average Salary by Experience Chart

0-2 Years
357,700 MXN
2-5 Years +26%
453,200 MXN
5-10 Years +32%
596,100 MXN
10-15 Years +18%
701,400 MXN
15-20 Years +11%
773,400 MXN
20+ Years +6%
824,800 MXN

Product Manager Salary by Education Level in Mexico

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 a Product Manager in Mexico based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Product Manager in Mexico with a high school education can earn an average salary of 433,800 MXN.

  • Certificate or Diploma. A Product Manager in Mexico with a certificate or diploma education can earn an average salary of 491,000 MXN.

  • Bachelor's Degree. A Product Manager in Mexico with a bachelor's degree education can earn an average salary of 645,800 MXN.

  • Master's Degree. A Product Manager in Mexico with a master's degree education can earn an average salary of 799,300 MXN.

Average Salary by Education Chart

High School
433,800 MXN
Certificate or Diploma +13%
491,000 MXN
Bachelor's Degree +32%
645,800 MXN
Master's Degree +24%
799,300 MXN

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Mexico is around 166,000 to 498,000 MXN and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Product Manager 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 Mexico, a male product manager will earn an average of 589,400 MXN, while a female product manager will earn around 543,200 MXN.

This means that a male product manager earns approximately 9% more than a female product manager for performing the same job.

Average Salary by Gender Chart in Mexico

Male
589,400 MXN
Female -9%
543,200 MXN

Product Manager Average Pay Raise in Mexico

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 a Product Manager in Mexico is around 10% every 21 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 = ( 10 ÷ 21 ) × 12  = 6%

What this means is that a Product Manager in Mexico can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Mexico 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.

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Product Manager Bonus and Incentive Rates in Mexico

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.

A Product Manager is a high bonus based job, with 76% of employees reporting at least one bonus in the last 12 months.

24% 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 6% to 7%.

Received Bonus
76%
No Bonus
24%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

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.

Public Sector
415,900 MXN
Private Sector -8%
384,200 MXN

Salaries for Jobs Similar to a Product Manager

In the table below, we have salary information for jobs that are similar to a Product Manager in Mexico.

Job Title Category Salary
Assembly Foreman Factory and Manufacturing 115,080 MXN
Assembly Line Worker Factory and Manufacturing 109,000 MXN
Assembly Supervisor Factory and Manufacturing 161,600 MXN
Assistance Maintenance Manager Factory and Manufacturing 406,300 MXN
Assistant Shipping Manager Factory and Manufacturing 377,200 MXN
Chemical Equipment Controller Factory and Manufacturing 261,300 MXN
Chemical Technican Apprentice Factory and Manufacturing 212,500 MXN
CNC Machinist Factory and Manufacturing 240,500 MXN
CNC Operator Factory and Manufacturing 239,300 MXN
CNC Programmer Factory and Manufacturing 273,300 MXN
Colour Technologist Factory and Manufacturing 138,800 MXN
Contracts Manager Factory and Manufacturing 483,400 MXN
Data Collection Coordinator Factory and Manufacturing 181,600 MXN
Demand Planner Factory and Manufacturing 167,100 MXN
Derrick Operator Factory and Manufacturing 117,380 MXN
Director of Manufacturing Factory and Manufacturing 687,100 MXN
Dock Worker Factory and Manufacturing 108,120 MXN
Drying Technician Factory and Manufacturing 111,460 MXN
Equipment Operator Factory and Manufacturing 105,800 MXN
Export Sales Coordinator Factory and Manufacturing 351,200 MXN
Factory Superintendent Factory and Manufacturing 172,400 MXN
Factory Worker Factory and Manufacturing 127,700 MXN
Failure Analysis Technician Factory and Manufacturing 172,200 MXN
Fiberglass Laminator Factory and Manufacturing 119,500 MXN
Food Technologist Factory and Manufacturing 195,200 MXN
Forklift Driver Factory and Manufacturing 108,340 MXN
Forklift Operator Factory and Manufacturing 113,840 MXN
Forming Machine Operator Factory and Manufacturing 119,900 MXN
Furnace Operator Factory and Manufacturing 111,240 MXN
Gas Appliance Repairer Factory and Manufacturing 116,960 MXN
General Warehouse Associate Factory and Manufacturing 192,600 MXN
Heavy Equipment Operator Factory and Manufacturing 150,000 MXN
HSE Manager Factory and Manufacturing 498,000 MXN
Industrial Engineer Factory and Manufacturing 369,900 MXN
Industrial Machinery Mechanic Factory and Manufacturing 216,800 MXN
Industrial Production Manager Factory and Manufacturing 642,800 MXN
Industrial Safety and Health Engineer Factory and Manufacturing 363,000 MXN
Intake Operator Factory and Manufacturing 151,800 MXN
Key Account Manager Factory and Manufacturing 535,900 MXN
Lift Truck Operator Factory and Manufacturing 112,760 MXN
Loading Supervisor Factory and Manufacturing 201,100 MXN
Logistic Coordinator Factory and Manufacturing 277,400 MXN
Logistics Clerk Factory and Manufacturing 142,300 MXN
Machine Operator Factory and Manufacturing 106,960 MXN
Machinist Factory and Manufacturing 114,900 MXN
Maintenance Manager Factory and Manufacturing 430,000 MXN
Maintenance Store Clerk Factory and Manufacturing 119,900 MXN
Manufacturing Engineer Factory and Manufacturing 369,300 MXN
Manufacturing Engineering Manager Factory and Manufacturing 544,800 MXN
Manufacturing Engineering Technologist Factory and Manufacturing 398,300 MXN
Manufacturing Manager Factory and Manufacturing 608,500 MXN
Manufacturing Operative Factory and Manufacturing 197,600 MXN
Manufacturing Production Technician Factory and Manufacturing 148,300 MXN
Manufacturing Supervisor Factory and Manufacturing 307,400 MXN
Manufacturing Technician Factory and Manufacturing 139,100 MXN
Materials Manager Factory and Manufacturing 510,300 MXN
Materials Supervisor Factory and Manufacturing 325,900 MXN
Mechanical Fitter Engineer Factory and Manufacturing 381,800 MXN
Mechanical Foreman Factory and Manufacturing 106,980 MXN
Merchandise Planner Factory and Manufacturing 187,500 MXN
Metrology Engineer Factory and Manufacturing 332,500 MXN
Operations Engineer Factory and Manufacturing 335,100 MXN
Operations Manager Factory and Manufacturing 580,600 MXN
Order Management Coordinator Factory and Manufacturing 301,800 MXN
Order Processing Manager Factory and Manufacturing 454,900 MXN
Order Selector Factory and Manufacturing 136,100 MXN
Package Handler Factory and Manufacturing 104,600 MXN
Packaging Manager Factory and Manufacturing 365,400 MXN
Packer Factory and Manufacturing 112,600 MXN
Packing Deputy Supervisor Factory and Manufacturing 301,800 MXN
Planning Manager Factory and Manufacturing 504,500 MXN
Plant Manager Factory and Manufacturing 574,200 MXN
Precision Instrument Repairer Factory and Manufacturing 169,000 MXN
Process Technician Factory and Manufacturing 146,200 MXN
Production Analyst Factory and Manufacturing 489,600 MXN
Production Director Factory and Manufacturing 713,900 MXN
Production Engineer Factory and Manufacturing 357,300 MXN
Production Engineering Supervisor Factory and Manufacturing 541,700 MXN
Production Inspector Factory and Manufacturing 389,200 MXN
Production Laborer Factory and Manufacturing 105,300 MXN
Production Manager Factory and Manufacturing 689,900 MXN
Production Operator Factory and Manufacturing 158,700 MXN
Production Scheduler Factory and Manufacturing 273,300 MXN
Production Supervisor Factory and Manufacturing 354,000 MXN
Production Technician Factory and Manufacturing 159,400 MXN
Production Worker Factory and Manufacturing 150,000 MXN
Quality Control Analyst Factory and Manufacturing 459,300 MXN
Quality Control Inspector Factory and Manufacturing 361,500 MXN
Quality Control Manager Factory and Manufacturing 531,700 MXN
Service Technician Factory and Manufacturing 137,400 MXN
SHEQ Officer Factory and Manufacturing 174,000 MXN
Shipping Manager Factory and Manufacturing 539,700 MXN
Small Engine Mechanic Factory and Manufacturing 197,600 MXN
Spray Painter Factory and Manufacturing 113,740 MXN
Sterile Processing Technician Factory and Manufacturing 137,400 MXN
Structural Welder Factory and Manufacturing 104,500 MXN
Supply Chain Operative Factory and Manufacturing 313,700 MXN
Technical Operator Factory and Manufacturing 157,600 MXN
Technology Development Manager Factory and Manufacturing 608,500 MXN
Testing Technician Factory and Manufacturing 257,700 MXN
Toolmaker Factory and Manufacturing 187,500 MXN
Warehouse Forklift Operator Factory and Manufacturing 116,960 MXN
Warehouse Operative Factory and Manufacturing 119,900 MXN
Warehouse Worker Factory and Manufacturing 127,700 MXN
Warranty Handler Factory and Manufacturing 217,900 MXN
Welder Factory and Manufacturing 112,000 MXN
Workshop Manager Factory and Manufacturing 398,300 MXN

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.

City Average Salary
Acapulco 706,600 MXN
Acuna 545,550 MXN
Aguascalientes 720,450 MXN
Boca del Rio 479,900 MXN
Buenavista 554,100 MXN
Campeche 563,650 MXN
Cancun 670,850 MXN
Celaya 615,150 MXN
Chalco 514,700 MXN
Chetumal 515,100 MXN
Chicoloapan 514,600 MXN
Chihuahua 710,950 MXN
Chilpancingo 518,450 MXN
Chimalhuacan 682,100 MXN
Cholula de Rivadabia 522,700 MXN
Ciudad Apodaca 627,000 MXN
Ciudad del Carmen 515,500 MXN
Ciudad Juarez 511,900 MXN
Ciudad Lopez Mateos 647,100 MXN
Ciudad Obregon 624,550 MXN
Ciudad Santa Catarina 592,300 MXN
Ciudad Valles 493,050 MXN
Ciudad Victoria 601,900 MXN
Coacalco 579,550 MXN
Coatzacoalcos 539,200 MXN
Colima 490,850 MXN
Cordoba 488,050 MXN
Cuautitlan Izcalli 677,200 MXN
Cuautla 482,950 MXN
Cuernavaca 609,250 MXN
Culiacan 696,100 MXN
Delicias 477,700 MXN
Durango 687,400 MXN
Ecatepec de Morelos 726,900 MXN
Ensenada 613,000 MXN
Fresnillo 469,000 MXN
General Escobedo 639,000 MXN
Gomez Palacio 602,850 MXN
Guadalajara 739,600 MXN
Guadalupe 719,400 MXN
Guaymas 459,600 MXN
Hermosillo 717,250 MXN
Hidalgo del Parral 442,600 MXN
Iguala 446,100 MXN
Irapuato 630,100 MXN
Ixtapaluca 605,700 MXN
Jiutepec 511,050 MXN
La Paz 539,500 MXN
Leon 718,000 MXN
Los Mochis 592,100 MXN
Los Reyes la Paz 598,950 MXN
Manzanillo 468,550 MXN
Matamoros 636,800 MXN
Mazatlan 623,800 MXN
Merida 682,050 MXN
Metepec 544,300 MXN
Mexicali 692,150 MXN
Mexico City 745,000 MXN
Minatitlan 446,750 MXN
Monclova 545,550 MXN
Monterrey 729,600 MXN
Morelia 673,350 MXN
Naucalpan 721,850 MXN
Navojoa 442,850 MXN
Nezahualcoyotl 727,450 MXN
Nogales 536,550 MXN
Nuevo Laredo 638,850 MXN
Oaxaca 560,450 MXN
Ojo de Agua 575,450 MXN
Orizaba 438,750 MXN
Pachuca 574,200 MXN
Piedras Negras 485,800 MXN
Playa del Carmen 478,150 MXN
Poza Rica 531,450 MXN
Puebla 757,900 MXN
Puerto Vallarta 562,950 MXN
Queretaro 714,600 MXN
Reynosa 688,400 MXN
Salamanca 521,850 MXN
Saltillo 700,750 MXN
San Cristobal de las Casas 524,750 MXN
San Juan del Rio 472,050 MXN
San Luis Potosi 708,250 MXN
San Luis Rio Colorado 485,250 MXN
San Nicolas de los Garza 650,300 MXN
San Pablo de las Salinas 542,150 MXN
San Pedro Garza Garcia 460,800 MXN
Soledad de Graciano Sanchez 558,700 MXN
Tampico 584,550 MXN
Tapachula 542,250 MXN
Tehuacan 557,850 MXN
Tepic 642,050 MXN
Tijuana 734,600 MXN
Tlalnepantla de Baz 680,100 MXN
Tlaquepaque 670,450 MXN
Toluca 658,100 MXN
Tonala 643,100 MXN
Torreon 691,450 MXN
Tuxtla Gutierrez 666,850 MXN
Uruapan 584,550 MXN
Veracruz 647,050 MXN
Villa Nicolas Romero 593,500 MXN
Villahermosa 633,850 MXN
Xalapa 665,700 MXN
Xico 630,500 MXN
Zacatecas 461,250 MXN
Zamora de Hidalgo 481,500 MXN
Zapopan 751,150 MXN

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