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How much does the President of Mexico earn and how much do ministers earn?

How much does the President of Mexico earn and how much do ministers earn?

(CNN in Spanish) — In a few days, Mexico will decide who will lead the country for the next six years. The person who becomes president will not rule alone, but will have with him the secretaries who form his government, and who will move the path he sets for the nation in economic, social, security, and other matters.

Have you ever wondered how much the president and his ministers earn from governing?

The approved salary for the president in 2024

For 2024, the federal spending budget of the president – currently Andrés Manuel López Obrador – allocates a gross monthly income (before personal taxes and deductions) of about US$11,150 (186,093 Mexican pesos).

Of this amount, the basic salary amounts to about US$3,050, while just over US$8,000 falls under the concept of guaranteed compensation, which is a supplementary payment to the basic salary, but not taken into account for calculating benefits or social security contributions.

The president also agreed to provide benefits worth approximately US$100 per month, including a five-year seniority premium, food assistance, and group retirement insurance.

After income tax deductions (ISR) and personal deductions for Social Security and insurance, the president can receive about $7,750 per month. This is the limit approved by the budget – approved by the House of Representatives.

Regarding annual net income (after internal interest rate withholding), the CEO agreed to a bonus of approximately US$119,300. This calculation includes salary, compensation and other benefits such as vacation bonuses, bonuses, bonuses, solidarity savings and corporate life insurance.

Salary reported by AMLO

President López Obrador earns a net monthly salary of about US$7,680 (128,205 pesos), according to the Ministry of Public Administration’s Transparent Salaries website, with data from the last two weeks of April 16 to April 30.

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The approved salary for secretaries in 2024

The approved budget stipulates that the gross monthly salary of foreign secretaries is a maximum of US$10,950 (182,726 pesos).

The Ministers agreed to provide cash and in-kind benefits up to a maximum of approximately US$2,595.

Each secretary is authorized to have a net monthly income that includes salary and regular benefits, regardless of whether they are periodic or on specific dates, up to a maximum of $9,715.

Salary reported by AMLO government

The secretaries who make up López Obrador’s government, with the exception of two whose data are not available, earn monthly for their positions – after taxes – an estimated US$7,600 (between 126,597 and 126,994 Mexican pesos), according to the Transparent Salaries page. and the National Transparency Platform, with data from 2024.

Although current salaries for Secretary of the Navy and Secretary of National Defense are not available on SFP’s Transparent Salaries page, there is information about their 2023 earnings on the National Transparency Platform.

Admiral José Rafael Ojeda Duran, Secretary of the Navy, announced a monthly salary of about US$7,640 during the first quarter of 2023, the only period available for consultation on his salary.

The Minister of National Defense, General Luis Crescencio Sandoval, received a monthly salary during the first semester of approximately US$7,180 and approximately US$7,720 in the second half of 2023.

CNN reached out to Simar and Cedina to find out the updated salaries for the ministers, without getting an immediate response.