Economy What is the average salary expected by Argentinians nowadays?

[Russell]

According to Bumeran, the main job portal in Argentina, the average salary expected by Argentinians increased by 69% in the first five months of the year, reaching $919,089 in June, which is 7.57% higher than in May. While this reflects the expected salary, what is the actual average salary being paid these days?

https://twitter.com/x/status/1811719936634405024

 

[Digital Nomad]

The salaries here are really low. According to this it would make salaries on average about $600 USD per month? My girlfriend said besides people that are super educated and maybe working for a remote job, most don't make much here at all. I read this post the other day and I was shocked. Are salaries really that low and jobs that difficult to come by? Here is what he posted as an expat living here 18 years. I was SHOCKED to hear that median income here is only about $400 USD per month. That seems low but I guess there are a ton of people making next to nothing but even maids I think would earn more than this?

He is saying his daughter has an international business degree and making $1,200 USD per month but it's working for an American company.


Speaking as an expat who has lived in Argentina for 18 years (and still do), I have a few comments:


1) I hope he earns in Dollars somehow, or is wealthy (an ex-cop?).


The Peso has gone up to 1440 to 1 Dollar right now. The median income here is about the equivalent of $400 USD per month. But at least inflation on food and beverages is down to about 2% - per month.


I have one daughter, who graduated college a couple of years ago (international business degree) and is making about $1200 USD/month - working for a US company. She has one of the best jobs I know of.


I have another daughter who went through school (political science) who worked for a congressional representative but was laid off because Milei is cutting govt jobs (and I support what he is doing!). She's been looking for a "regular" job that pays more than when she was the representative's assistant, which was about $200 USD/month. She's been looking for about 4 months.

I have another daughter who hasn't gone to college, was hoping to get a job cooking. Best jobs there are about $250 USD/month (and 7 days a week, 6 if the place closes for a day) unless you are an actual chef - and then there is a long line. She is working to take care of elderly people for about $150 USD/month (though part time) while we work on opening a fast food or bakery delivery. "Buying her a job."


There a few, to no, opportunities here.


2) I hope he's planning on homeschooling his kids.


All three daughters have been through school here, at least to high school. School is a joke here, even private schools, unless you pay for the highest private schools, which are fairly expensive. Even poor people here pay for private schools, as bad as they are, because public schools are worse.


They are actually worse than US schools, and I don't see that changing any time soon. I can provide specifics if anyone is interested.


3) Even earning dollars and bringing them here: Hopefully Milei will change that, but he still has a long way to go. Right now the official rate is actually 890 pesos to the dollar. The rate I mentioned above is called the "blue rate", which is a type of black market money changing rate. Western Union actually sends money here at close to the blue rate, but credit cards and debit cards are mostly at an intermediary rate, probably around 1200-1. There are something on the order of 14 different exchange rates, depending on what part of the economy.

The Central Bank here may withhold 30% of any transfers or at best it takes a month or two to accredit the money in your account (I used to lease programmers here, but gave it up because of the Central Bank). At least, that's how it used to work. Milei may have made progress on this.


To get my money here (no way I could survive on a job earning in pesos), I still use a method of locals here who operate with cryptocurrencies to bring down money here for me - for a 3% charge (cheaper than Western Union, though, and they give it to me in Dollars, I don't have to worry about inflation - as long as the government doesn't mess with the black market, which they have in the past, then it gets real expensive to live here)



4) Import tariffs are about 50% of the cost of most items here, particularly electronics. Get used to going to other countries to buy some things and bring them in. Note: Amazon doesn't deliver here (at least for almost everything I've looked at).



5) If he rents an apartment here, he will either have to rent a BnB-style place or have someone that can loan him the title to a real property as a guarantee, to make the lease. Leasing here is complicated, hopefully Milei improves this, and I can expound on this for anyone who is interested.


I ended up leasing what used to be a beauty salon and building it out with rooms and an office for me, because the guy who was offering it to rent is OK with doing things "on the side". Not easy to do.


I've had leases with real apartments and even a house outside the city years ago when it was easier, but still had to put thousands of dollars down for deposits and buy a guarantee.


-----------------


Personally, I'm optimistic about Argentina over the long run - as long as the reforms continue. But Argentina has a history of up and down cycles. I hope this stops and Argentina moves forward with Milei, but I'm not holding my breath.


I've spent a fortune educating our daughters and providing them a platform from which to launch. When Milei became president, I did buy land because I think it will be worth quite a bit in the future. I have had a business here in the past but had to shut down because of overwhelming tax and regulatory burden. I am thinking about opening another now that Milei is president.


Argentina hasn't been "socialist" for the past 100 years. It has actually been fascist. Juan Peron brought fascism here in 1946 when he became president. He studied with Mussolini in the 30s. "Peronism" is a concept that runs deep in Argentinos here and infects everything.


The government, up until now at least, has a contract for everything and no one can make a contract that is in opposition to the government contract. Housing, labor, sales - you name it. You can have a contract that adds something, but anything in a contract that you sign, that is against the government contract, is null whether agreed to by parties or not.

Argentina has been socialist - on top of fascist! - for the last 16 years or so. That has made things even worse.


The truth is, there has been so much damage here that it will take decades before Argentina is a place of opportunity.

https://twitter.com/x/status/1811111087804404224

 

[Vero]

The salaries here are really low. According to this it would make salaries on average about $600 USD per month? My girlfriend said besides people that are super educated and maybe working for a remote job, most don't make much here at all. I read this post the other day and I was shocked. Are salaries really that low and jobs that difficult to come by? Here is what he posted as an expat living here 18 years. I was SHOCKED to hear that median income here is only about $400 USD per month. That seems low but I guess there are a ton of people making next to nothing but even maids I think would earn more than this?

He is saying his daughter has an international business degree and making $1,200 USD per month but it's working for an American company.


Speaking as an expat who has lived in Argentina for 18 years (and still do), I have a few comments:


1) I hope he earns in Dollars somehow, or is wealthy (an ex-cop?).


The Peso has gone up to 1440 to 1 Dollar right now. The median income here is about the equivalent of $400 USD per month. But at least inflation on food and beverages is down to about 2% - per month.


I have one daughter, who graduated college a couple of years ago (international business degree) and is making about $1200 USD/month - working for a US company. She has one of the best jobs I know of.


I have another daughter who went through school (political science) who worked for a congressional representative but was laid off because Milei is cutting govt jobs (and I support what he is doing!). She's been looking for a "regular" job that pays more than when she was the representative's assistant, which was about $200 USD/month. She's been looking for about 4 months.

I have another daughter who hasn't gone to college, was hoping to get a job cooking. Best jobs there are about $250 USD/month (and 7 days a week, 6 if the place closes for a day) unless you are an actual chef - and then there is a long line. She is working to take care of elderly people for about $150 USD/month (though part time) while we work on opening a fast food or bakery delivery. "Buying her a job."


There a few, to no, opportunities here.


2) I hope he's planning on homeschooling his kids.


All three daughters have been through school here, at least to high school. School is a joke here, even private schools, unless you pay for the highest private schools, which are fairly expensive. Even poor people here pay for private schools, as bad as they are, because public schools are worse.


They are actually worse than US schools, and I don't see that changing any time soon. I can provide specifics if anyone is interested.


3) Even earning dollars and bringing them here: Hopefully Milei will change that, but he still has a long way to go. Right now the official rate is actually 890 pesos to the dollar. The rate I mentioned above is called the "blue rate", which is a type of black market money changing rate. Western Union actually sends money here at close to the blue rate, but credit cards and debit cards are mostly at an intermediary rate, probably around 1200-1. There are something on the order of 14 different exchange rates, depending on what part of the economy.

The Central Bank here may withhold 30% of any transfers or at best it takes a month or two to accredit the money in your account (I used to lease programmers here, but gave it up because of the Central Bank). At least, that's how it used to work. Milei may have made progress on this.


To get my money here (no way I could survive on a job earning in pesos), I still use a method of locals here who operate with cryptocurrencies to bring down money here for me - for a 3% charge (cheaper than Western Union, though, and they give it to me in Dollars, I don't have to worry about inflation - as long as the government doesn't mess with the black market, which they have in the past, then it gets real expensive to live here)



4) Import tariffs are about 50% of the cost of most items here, particularly electronics. Get used to going to other countries to buy some things and bring them in. Note: Amazon doesn't deliver here (at least for almost everything I've looked at).



5) If he rents an apartment here, he will either have to rent a BnB-style place or have someone that can loan him the title to a real property as a guarantee, to make the lease. Leasing here is complicated, hopefully Milei improves this, and I can expound on this for anyone who is interested.


I ended up leasing what used to be a beauty salon and building it out with rooms and an office for me, because the guy who was offering it to rent is OK with doing things "on the side". Not easy to do.


I've had leases with real apartments and even a house outside the city years ago when it was easier, but still had to put thousands of dollars down for deposits and buy a guarantee.


-----------------


Personally, I'm optimistic about Argentina over the long run - as long as the reforms continue. But Argentina has a history of up and down cycles. I hope this stops and Argentina moves forward with Milei, but I'm not holding my breath.


I've spent a fortune educating our daughters and providing them a platform from which to launch. When Milei became president, I did buy land because I think it will be worth quite a bit in the future. I have had a business here in the past but had to shut down because of overwhelming tax and regulatory burden. I am thinking about opening another now that Milei is president.


Argentina hasn't been "socialist" for the past 100 years. It has actually been fascist. Juan Peron brought fascism here in 1946 when he became president. He studied with Mussolini in the 30s. "Peronism" is a concept that runs deep in Argentinos here and infects everything.


The government, up until now at least, has a contract for everything and no one can make a contract that is in opposition to the government contract. Housing, labor, sales - you name it. You can have a contract that adds something, but anything in a contract that you sign, that is against the government contract, is null whether agreed to by parties or not.

Argentina has been socialist - on top of fascist! - for the last 16 years or so. That has made things even worse.


The truth is, there has been so much damage here that it will take decades before Argentina is a place of opportunity.

https://twitter.com/x/status/1811111087804404224

Yes salaries here are very low. I agree with this expat that posted that. Median incomes might be a bit higher but his daughter that has the job making $1,200 USD per month is a GREAT salary. My daughter was also working for a European company. She was making USD as well. Her salary was a bit less than this guy's daughter. She was making around $1,000 USD per month. When the exchange rate went lower to 1,000 pesos to $1 a few months ago she was complaining. She asked for a raise and the company told her they couldn't give her a raise as it was less than a year.

I told her not to press the issue or even ask because she was working remote for a foreign company and big raises are not common abroad. She pushed on the issue and they terminated her employment. She has been unemployed the past few months. She will probably not find another job paying as much unless she gets a remote job.

That was a great post to keep in mind reality of salaries here.

 

[Vince]

Yes salaries here are very low. I agree with this expat that posted that. Median incomes might be a bit higher but his daughter that has the job making $1,200 USD per month is a GREAT salary. My daughter was also working for a European company. She was making USD as well. Her salary was a bit less than this guy's daughter. She was making around $1,000 USD per month. When the exchange rate went lower to 1,000 pesos to $1 a few months ago she was complaining. She asked for a raise and the company told her they couldn't give her a raise as it was less than a year.

I told her not to press the issue or even ask because she was working remote for a foreign company and big raises are not common abroad. She pushed on the issue and they terminated her employment. She has been unemployed the past few months. She will probably not find another job paying as much unless she gets a remote job.

That was a great post to keep in mind reality of salaries here.

Your daughter should have listened to you! That is a great salary! Something similar happened to a friend of mine a few months ago that had a remote job. Almost same scenario where their cost of living went up when the exchange rate went down. But I explained to him that he was getting paid in US dollars. It's not like if it went up to 1,500 to $1 USD he would be rebating part of his salary back to the company. It has to go both ways. I told him that remote companies aren't going to expect paying Argentine type increases every 6 months. Getting paid in dollars protects against that. Most companies in the USA give raises of less than 5% a year. Some only 3%. My friend also pushed on the issue and was terminated.

Salaries are on the low end here. The exception might be some lawyers or accountants. Some of my friends in those fields make six figure salaries in USD. But that is not the norm here.

 

[earlyretirement]

Your daughter should have listened to you! That is a great salary! Something similar happened to a friend of mine a few months ago that had a remote job. Almost same scenario where their cost of living went up when the exchange rate went down. But I explained to him that he was getting paid in US dollars. It's not like if it went up to 1,500 to $1 USD he would be rebating part of his salary back to the company. It has to go both ways. I told him that remote companies aren't going to expect paying Argentine type increases every 6 months. Getting paid in dollars protects against that. Most companies in the USA give raises of less than 5% a year. Some only 3%. My friend also pushed on the issue and was terminated.

Salaries are on the low end here. The exception might be some lawyers or accountants. Some of my friends in those fields make six figure salaries in USD. But that is not the norm here.

This is absolutely correct Vince. I think anyone with a remote job in Argentina is very fortunate. Good jobs there in this recession aren't too easy to find. Over the long haul, getting paid a US dollar salary vs. local peso wage is going to be more beneficial. Locally, just about every single job is part of some union. Some unions are more powerful than others and with the high inflation there, people get inflation adjusted raises in pesos. But it's not matching true inflation. The US dollar there will always be king.

I always say the two best professions there are Escribanos and accountants. Two best jobs in Argentina. Some executives there make decent salaries for local standards. For example, a good friend of mine is the CFO for a public company there that has a lot of international business. He has an MBA and accounting degree and a ton of experience. He has a $7,000 USD per month salary.

But then I know others with multiple degrees working for American or European remote jobs and making about $1,800 to $2,500 USD per month. Most retail type positions make no more than 750,000 pesos per month or about $525 USD per month.

How much does a retail employee earn in July 2024 in Buenos Aires?

Great that many retail employees are getting raises. It sounds like that union negotiated 13.5% raises. Today's exchange rate is 1,440 pesos to $1 USD. Salaries are going up but still low. Salaries for retail employees in July 2024 In July, employees in the sector will receive the following...

www.expatsba.com

 

[Finance Prof]

I agree if someone has a USD remote job and they are complaining about their salary and they are making that kind of income they probably deserve to lose their job. Salaries here are very low. I have several friends here making about 800,000 pesos a month working in an office.

 

[crypto]

At least salaries are going up. But it sounds like historically the unions have always gotten raises for locals. It might not match true inflation but it is going up. Salaries are low all throughout Latin America for the most part. Much is talked about how low the salaries are here but the basic basket of food seems like it's also relatively low. This article said 393,319 ($262 USD) pesos to just get by. Or 873,169 pesos $582 USD for a family of FOUR people not to be poor.

Indec: una familia necesitó $873.169 en junio para no ser pobre

La básica total, que se usa para definir la línea de pobreza, aumentó 1,6%, mientras que la alimentaria, que se utiliza para delimitar el umbral de indigencia, se incrementó 2,6%

www.lanacion.com.ar

 

[Uncle Wong]

Saw this other post online which shows salaries a little bit higher. Most of the people I met there in BA aren't making much at all but most of them have gotten some raises the past few months but still less than actual inflation.

https://twitter.com/x/status/1811719936634405024

 

[oil rush]

The salaries here are really low. According to this it would make salaries on average about $600 USD per month? My girlfriend said besides people that are super educated and maybe working for a remote job, most don't make much here at all. I read this post the other day and I was shocked. Are salaries really that low and jobs that difficult to come by? Here is what he posted as an expat living here 18 years. I was SHOCKED to hear that median income here is only about $400 USD per month. That seems low but I guess there are a ton of people making next to nothing but even maids I think would earn more than this?




I have another daughter who went through school (political science) who worked for a congressional representative but was laid off because Milei is cutting govt jobs (and I support what he is doing!). She's been looking for a "regular" job that pays more than when she was the representative's assistant, which was about $200 USD/month. She's been looking for about 4 months

I have another daughter who hasn't gone to college, was hoping to get a job cooking. Best jobs there are about $250 USD/month (and 7 days a week, 6 if the place closes for a day) unless you are an actual chef - and then there is a long line. She is working to take care of elderly people for about $150 USD/month (though part time) while we work on opening a fast food or bakery delivery. "Buying her a job."

Is this true? Are cooks really only making $250 USD per month working 6 days a week? This can't be right can it? I read how people in retail jobs are making much more than this. Can someone confirm if people in food/restaurant industry are making this little? Can this be correct? Even the median wage sounded like it was at least double this.

 

[RN in BA]

Is this true? Are cooks really only making $250 USD per month working 6 days a week? This can't be right can it? I read how people in retail jobs are making much more than this. Can someone confirm if people in food/restaurant industry are making this little? Can this be correct? Even the median wage sounded like it was at least double this.

I read that too and the poster comes across as genuine but I also doubted that low salary. Even maids cleaning apartments are making more than $250 USD per month so I doubt this is correct. I met some people waiting tables and they were making around $450 US per month but this was a few months ago. Maybe their salaries have gone up.

He is correct that people taking care of elderly there don't make much at all. I am an RN and bilingual and tried to work in hospitals but I don't have residency there. Even working for wealthy families I couldn't find any jobs paying more than $800 USD per month. It was shocking how low salaries are there.I heard doctors there don't make too much but I wasn't sure how much they make but nothing like in the States.

 

[Uncle Wong]

This article says that minimum wage is only 234,315 pesos. Is that correct? That is only $157 USD at today's exchange rate. Is anyone really only making minimum wage there?

As Argentine inflation cools to single digits, residents are still skeptical

ARGENTINES say they are yet to feel the benefits of cooling inflation, as a five-month streak of slowing prices ended when official data on Friday showed inflation in June was higher than in May. Read more at The Business Times.

www.businesstimes.com.sg

 

[Johnny]

I met a girl who worked at the Courthouse my last trip which was a few months ago. She worked over in Tribunales and I think she was a lawyer and she was making very little money. Maybe around $500 dollars a month. I was surprised as she had a lot of education.

 

[logan]

With economic fluctuations and adjustments, the average salary that Argentinians are aiming for has changed and now exceeds 1,000,000 pesos. I consider this a decent salary, depending on the sector, and believe it should be set as the minimum. However, overall salaries are still an area that hasn’t been properly addressed here.

El salario promedio pretendido por los argentinos ya supera el millón de pesos

Se trata del sueldo bruto que piden ganar los postulantes a nuevos puestos de trabajo. Cuánto se pide según la rama de actividad y la categoría del empleo

www.infobae.com

 

[amyang]

Honestly, I have to applaud the banking union. It’s the only union that has managed to secure a salary that keeps up with inflation, nearly 1,500,000 ARS. I wish they could set an example for others to follow. Plus, they’ve always had the best working conditions and benefits, but especially in these tough times, I really have to tip my hat to them.

Economy - Bank employees: how much will they earn in October 2024 after the increase in the salary agreement? - Infobae

Bank employees: how much will they earn in October 2024 after the increase in the salary agreement? - Infobae Source: https://www.infobae.com/economia/2024/09/19/empleados-bancarios-cuanto-van-a-cobrar-en-octubre-2024-tras-el-aumento-de-la-paritaria/ September 19, 2024 Financial sector...

www.expatsba.com

 

[Betsy Ross]

Honestly, I have to applaud the banking union. It’s the only union that has managed to secure a salary that keeps up with inflation, nearly 1,500,000 ARS. I wish they could set an example for others to follow. Plus, they’ve always had the best working conditions and benefits, but especially in these tough times, I really have to tip my hat to them.
View attachment 7429

Economy - Bank employees: how much will they earn in October 2024 after the increase in the salary agreement? - Infobae

Bank employees: how much will they earn in October 2024 after the increase in the salary agreement? - Infobae Source: https://www.infobae.com/economia/2024/09/19/empleados-bancarios-cuanto-van-a-cobrar-en-octubre-2024-tras-el-aumento-de-la-paritaria/ September 19, 2024 Financial sector...

www.expatsba.com

The problem is that we're in the middle of a recession. Businesses are very slow with not much consumption at all. Doesn't seem that that trend is changing any time soon. So the risks are that more companies might go out of business. It's tough to raise salaries when companies are struggling.

 

[Richard02]

The problem is that we're in the middle of a recession. Businesses are very slow with not much consumption at all. Doesn't seem that that trend is changing any time soon. So the risks are that more companies might go out of business. It's tough to raise salaries when companies are struggling.

I see your point about the recession, but I think it's important to recognize that certain sectors, like banking, are still performing relatively well, which is why their salary increases matched inflation. While many businesses are struggling, it's not the same for everyone. If workers’ salaries don’t keep up with inflation, their purchasing power drops even further, which could hurt consumption in the long run. So, even though times are tough, raising salaries can help maintain demand and keep the economy from slowing down even more.

 

[Finance Prof]

I see your point about the recession, but I think it's important to recognize that certain sectors, like banking, are still performing relatively well, which is why their salary increases matched inflation. While many businesses are struggling, it's not the same for everyone. If workers’ salaries don’t keep up with inflation, their purchasing power drops even further, which could hurt consumption in the long run. So, even though times are tough, raising salaries can help maintain demand and keep the economy from slowing down even more.

Banking sector is one of the few bright shining sectors. Lots of dollars coming in with the amnesty. Tough situation but just like with the pensioners, you can't pay out money that you don't have. If a company goes out of business, people will find that some salary is better than no salary which is a reality as more companies go out of business. Many sectors if they have to raise salaries, the business will fold and all employees will be out of a job.

 

[Don Jorge]

Banking sector is one of the few bright shining sectors. Lots of dollars coming in with the amnesty. Tough situation but just like with the pensioners, you can't pay out money that you don't have. If a company goes out of business, people will find that some salary is better than no salary which is a reality as more companies go out of business. Many sectors if they have to raise salaries, the business will fold and all employees will be out of a job.

I understand what you say, but I see it from the employee's perspective. I don’t think anyone should settle for crumbs just because a company is struggling. If I were in that situation and knew I was well-qualified, I would prefer to look for something better. Nowadays, it’s essential to educate yourself and always strive for improvement. It’s true that many employees aren’t valued properly, and some are even overqualified for their positions. Companies like Mercado Libre, the banks, Sancor, Cervecería Quilmes, and tech firms like Globant and IBM offer fair treatment. These companies should set an example. Argentina is in a tough economic situation, but if one settles, they will always stay in the same place. That’s why I believe employees should aspire to more instead of remaining in a company that doesn’t appreciate their contributions.

I understand it’s a dilemma, as companies are also suffering from the crisis. However, it’s important to analyze each situation individually and see who is at a greater disadvantage in this economic context. While companies face their own challenges, employees also need to think about their future and not get stuck. At the end of the day, finding a balance is crucial, but I believe that settling only perpetuates the problem.

 

[Finance Prof]

I understand what you say, but I see it from the employee's perspective. I don’t think anyone should settle for crumbs just because a company is struggling. If I were in that situation and knew I was well-qualified, I would prefer to look for something better. Nowadays, it’s essential to educate yourself and always strive for improvement. It’s true that many employees aren’t valued properly, and some are even overqualified for their positions. Companies like Mercado Libre, the banks, Sancor, Cervecería Quilmes, and tech firms like Globant and IBM offer fair treatment. These companies should set an example. Argentina is in a tough economic situation, but if one settles, they will always stay in the same place. That’s why I believe employees should aspire to more instead of remaining in a company that doesn’t appreciate their contributions.

I understand it’s a dilemma, as companies are also suffering from the crisis. However, it’s important to analyze each situation individually and see who is at a greater disadvantage in this economic context. While companies face their own challenges, employees also need to think about their future and not get stuck. At the end of the day, finding a balance is crucial, but I believe that settling only perpetuates the problem.

Sure of course if someone can make more money somewhere else they should leave and take a better position. My only point is I have a lot of friends that thought the grass was greener on the other side and now they are out of a job and haven't been able to find a new one for 2 months now. It's always the same story. Employees asking for employers to look at it from their perspective but many don't look at it from the employer's side.

Definitely if people think they can find a better position they should.

 

[Wally]

Sure of course if someone can make more money somewhere else they should leave and take a better position. My only point is I have a lot of friends that thought the grass was greener on the other side and now they are out of a job and haven't been able to find a new one for 2 months now. It's always the same story. Employees asking for employers to look at it from their perspective but many don't look at it from the employer's side.

Definitely if people think they can find a better position they should.

The same thing is happening in the USA now. I have nephews and nieces that had great jobs where they could work from home. Then 2 months ago their employer told them they had to go into the office 3 times a week. They didn't want to do that as they already got used to staying at home. They had good jobs. They quit and thought they could find better jobs and they have been looking for a remote job for 2 months.

Now more and more companies are forcing their employees to go back into the office. They don't really want the employees back in the office. They just want them to quit. Companies would rather them quit then fire them. Companies like Amazon.com are making them come back into the office 5 days a week starting in January.