Excerpted from the Mexico Career Guide
Mexico has a large and diverse economy. It is the second-largest economy in Latin America with a GDP of nearly 1.3 trillion USD. The economic future looks promising and President Enrique Peña Nieto has pledged improved security and development. It is reforming its energy, telecommunications, labor, financial and educational sectors to increase competitiveness.
Hiring intentions are expected to remain steady for the near future, according to the most recent Manpower employment survey, with the vast majority of surveyed employers not planning to make any changes to their staff. Twenty-two percent of employers surveyed expect to add new employees, with the substantial hiring intentions in the mining sector and their associated regions (San Luis Potosí and Hidalgo).
The manufacturing sector is also expected to do well in the coming months due to increased foreign investment, which is usually focused on the assembly, automotive and food production sectors.
Areas of Job Promise
Earlier this year, the government announced its National Infrastructure Plan, which aims to invest in and develop transportation, water, energy, health, urban development, communications and tourism.
Aerospace: Over the past decade, the aerospace industry has grown by more than 17 percent annually on average. Concentrated mainly in Chihuahua, Baja California, Sonora and Queretaro, 287 aerospace companies operate in the country, employing more than 32,600 professionals.
Medical devices: The medical device industry is expected to grow by 7.2 percent on average annually through 2020.
Energy: The energy sector has long been state-owned but reforms last year made major changes to the industry that will allow for private investment, resulting in trade and competition in the oil and energy sectors. The reforms have yet to be implemented however so changes will not be felt for at least another year.
Companies are required by federal law to pay an aguinaldo, an annual bonus to be paid no later than December 20th of each year. Company-wide profits must also be shared with employees every year. Generally, the distribution is around 10 percent. Other bonuses include subsidized meals, grocery and food coupons (vales de despensa), private bus routes and matching contributions to a savings fund (fondo de ahorro). The practice of granting bonuses and other non-cash payments varies by region.
This is just a sample of what you'll find in the complete Mexico guide.