In the midst of Argentina's challenging economic situation, it's common to question both the minimum wage, what is it nowadays?, as well as to wonder what income is necessary for a decent standard of living, covering basic needs without excessive luxuries. Additionally, I'm curious about the percentage of one's salary allocated to rent for those who aren't homeowners.
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jackL
Member
Hi! I have read that as of March the minimum living and mobile wage increased to $202,800, it really seems like a joke, how could a person live on that salary?
www.argentina.gob.ar
Consejo Nacional del Empleo, la Productividad y el Salario Mínimo, Vital y Móvil
Ámbito institucional para evaluar temas referidos a las relaciones laborales.
chester
New member
This is an interesting article I found, it tells how much a person should earn according to the average rent in Buenos Aires.
www.cronista.com
February 22, 2024
Rental prices rose 300% in 2023, well above inflation, which closed the year at 211.4% . That is why it is not surprising that today, despite the increase in minimum wages , twice as many are needed as in 2023.
According to the annual report prepared by the real estate portal Properati, currently in Buenos Aires a two-room apartment in the Caballito neighborhood has an average price per month of US$525 , at the official exchange rate of $451,000 . With a minimum wage that until March 1 is $180,000, 2.7 minimum wages are needed to pay the rent . In February of last year, the month in which the same report was presented, 1.4 basic salaries were necessary to rent a property with the same characteristics.
In 2023, the minimum wage was $65,427 and on average $92,239 was paid for a rental. Today that proportion was strongly distorted with a vital and mobile minimum wage - from February - that tripled compared to the monthly value of a rent that quintupled .
The main explanation lies in the sharp increase in rents in 2023 with increases of 300% as a result of the Rental Law . The three-year contracts with annual adjustments caused supply to be reduced to historic lows, which generated excessive price increases.
When the regulations were repealed, through a decree of necessity and urgency (DNU) , which was issued in December by President Javier Milei, the supply began to recover with the consequent drop in prices that, in some areas, are already up to 20 percent.
The most striking cases occur in Mexico City and Guadalajara , where the average rent for a middle-class apartment costs US$1,295 and US$1,281 respectively, equivalent to 3 Mexican minimum monthly salaries.
Among the most expensive cities, Buenos Aires also stands out, where the average price is US$525 or 2.7 minimum wages in Argentina. Similarly, in Lima and Monterrey the rent for a middle-class apartment requires 2.4 and 2.1 minimum wages respectively, equivalent to US$660 and US$907.
In this way, the report shows that the minimum wage in Argentina should be US$1,300, which is equivalent - taking the official dollar - to $1,114,100 so that rent represents 40% of your income.
Cuánto tiene que ganar hoy un argentino para que el alquiler no supere el 40% de sus ingresos
Un informe privado releva todos los años cuántos salarios mínimos se necesitan para alquilar una propiedad. Cuántos sueldos básicos se necesitan en la Argentina y la comparación con la región
www.cronista.com
How much does an Argentine have to earn today so that the rent does not exceed 40% of their income
February 22, 2024
A private report reveals every year how many minimum wages are needed to rent a property. How many basic salaries are needed in Argentina and the comparison with the region
Rental prices rose 300% in 2023, well above inflation, which closed the year at 211.4% . That is why it is not surprising that today, despite the increase in minimum wages , twice as many are needed as in 2023.
According to the annual report prepared by the real estate portal Properati, currently in Buenos Aires a two-room apartment in the Caballito neighborhood has an average price per month of US$525 , at the official exchange rate of $451,000 . With a minimum wage that until March 1 is $180,000, 2.7 minimum wages are needed to pay the rent . In February of last year, the month in which the same report was presented, 1.4 basic salaries were necessary to rent a property with the same characteristics.
In 2023, the minimum wage was $65,427 and on average $92,239 was paid for a rental. Today that proportion was strongly distorted with a vital and mobile minimum wage - from February - that tripled compared to the monthly value of a rent that quintupled .
The main explanation lies in the sharp increase in rents in 2023 with increases of 300% as a result of the Rental Law . The three-year contracts with annual adjustments caused supply to be reduced to historic lows, which generated excessive price increases.
When the regulations were repealed, through a decree of necessity and urgency (DNU) , which was issued in December by President Javier Milei, the supply began to recover with the consequent drop in prices that, in some areas, are already up to 20 percent.
What is happening in the region
The report carried out by Properati compares the minimum wage and rental prices in Latin America. A minimum wage is not enough to rent a middle-class home in 16 of the 17 cities analyzed.The most striking cases occur in Mexico City and Guadalajara , where the average rent for a middle-class apartment costs US$1,295 and US$1,281 respectively, equivalent to 3 Mexican minimum monthly salaries.
Among the most expensive cities, Buenos Aires also stands out, where the average price is US$525 or 2.7 minimum wages in Argentina. Similarly, in Lima and Monterrey the rent for a middle-class apartment requires 2.4 and 2.1 minimum wages respectively, equivalent to US$660 and US$907.
What should be the average salary
The Properati report also calculated what the monthly income of a household should be, in dollars, so that the rent for a home does not exceed 40% of their salaries. According to the Organization for Economic Cooperation and Development ( OECD), a household that spends more than 40% of its monthly income on housing (rent or mortgage) incurs a housing cost overload.In this way, the report shows that the minimum wage in Argentina should be US$1,300, which is equivalent - taking the official dollar - to $1,114,100 so that rent represents 40% of your income.
drewst
New member
This wage does not exist in Argentina 🙁
It is very difficult or let's just say impossible for people to live in Buenos Aires on that basic minimum wage. Even considering that many of my local friends are 20 something and still live with their parents and get help from their parents, I don't think many people are making this little amount.Hi! I have read that as of March the minimum living and mobile wage increased to $202,800, it really seems like a joke, how could a person live on that salary?
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Consejo Nacional del Empleo, la Productividad y el Salario Mínimo, Vital y Móvil
Ámbito institucional para evaluar temas referidos a las relaciones laborales.
Che Vos
Well-known member
This is a good salary for Argentina. I would not say it impossible. I have some friend they work for international companies and they make salary in USD. Also I have some friend work long time for their company and they have good salary but it not so normal to make a big salary here.
Betsy Ross
Well-known member
This is a FALSE statement. There are plenty of people in Buenos Aires making salaries much higher than this. I have many local friends. Doctors, lawyers, accountants, engineers, and marketing executives all making more than that. Obviously white collar jobs. Those basic minimum salaries are mostly for maids and other low/no skill jobs.
It is true that salaries are lower in Argentina but not fair to say they do not exist.
Spend Thrift
Well-known member
I pay my local assistant $1,200 USD per month and that is considered a good salary I am told.
Vero
Well-known member
That is a very good salary for assistant. I am not sure how many hours they are working but good salary. My daughter works as a receptionist at the hospital and she makes about $600 US per month (at current exchange rate).
Scottishgaucho
Well-known member
Yes I'd have to agree. It's certainly not unusual even in the town where we live. There's no doubt wages are on the low side especially for unskilled workers having to live with high inflation. Probably why so many work in black...can't say I blame them.
Vero
Well-known member
Absolutely many work in black. Especially the unskilled labor. I don't blame them either (either side) as taxes there are squandered by politicians there.
Scottishgaucho
Well-known member
Like so many other problems here it's the system at fault. I see it every day in many things. Like mothers with toddlers on motor bikes none wearing helmets going through red lights while a police car metres away does nothing about it. It's going to take time to make the changes that are needed.
Vero
Well-known member
Yes! This drives me crazy to see. People say it is what it is but I hope we see things changing for the better.
MikeRoss
Well-known member
My novia is a paralegal for many years and she makes around the equivalent of $665 USD per month. But she lives with her parents so she does not have many expenses.
earlyretirement
Moderator
Yes, the two most important jobs in Argentina are Escribanos and Accountants. I always joke it's essential that you have a great and knowledgeable Escribano and a great accountant. Good accountants and Escribanos make extremely good wages in Argentina.
import export
Well-known member
My amiga works in marketing there and she only makes around $575 US per month. But she lives in Quilmes and has to take bus into the city daily. It is much cheaper out there. Most of her friends don't make too much either. Range seems to be from $550 US to $950 US.
Holy crap salaries are low there!!!
I never cease to be amazed by this. While I was in Vietnam I saw a family with a mother and 3 of her kids all on one motorcycle. None of them with helmets on.
I have been commenting for a while how expensive Buenos Aires is and often say it is as expensive for many things than the United States or even Europe. I am glad some agree with me now and you will see more articles stating this.
www.lapoliticaonline.com
Inflación en dólares: Ya es más barato vivir en París que en Buenos Aires, con el mismo sueldo en pesos
El gobierno acelera la licuación y apura la dolarización para contener la suba de precios pero se choca contra la pérdida del poder adquisitivo de la divisa norteamericana.
www.lapoliticaonline.com
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