General Minimum Wages for 2024

Even though the minimum wage increases to take effect as of January 1, 2024, has not yet been published in the Official Gazette of the Federation, it has already been determined by a Resolution issued by the Board of Representatives of the National Minimum Wage Commission on December 1, 2023.

In the resolution, the following was determined:

Geographical Area Minimum Wage 2023 Independent Recovery Amount Increase by Fixation Minimum Wage 2024
Northern Border Free Zone
$312.41
$41.26
6.0%
$374.89
Rest of the Country
$207.44
$27.40
6.0%
$248.93

In the case of professions, trades and special jobs, the impact would be as follows:

Regarding the increase, it is important to point out:

  • That the increase in the general minimum wage is integrated from the minimum wage in effect in 2023, plus an Independent Recovery Amount (MIR) of $41.26 for the Northern Border Free Zone and $27.40 for the rest of the country, respectively; and an increase for fixation of 6%.
  • The MIR should not be used as a reference for setting other prevailing wages, such as contractual wages.

 

If you have any questions or comments, please do not hesitate to contact us.

Sincerely,

ILC Integral Labor Consulting , S. C.