Narayan AmmachchiHiring devs and other tech workers is getting increasingly expensive in Mexico, leaving 70% of companies operating in the country in a very tight spot.
Tech salaries in Mexico have jumped 42% over the past two years, according to a report from HR consulting firm ESSAD.
Although tech wages have been increasing rapidly in all of the Americas, growth in Mexico has outpaced the averages for the US (18%) and the whole region (36%).
Salaries for software devs rose 32% since 2018, reaching an average yearly salary of US$47,938 by 2023.
Such attractive salaries and the availability of remote working arrangements have not been enough to make up for high demand, however. A Manpower survey revealed that 68% of employers struggle to find the right talent.
The most in-demand profiles include data analysts, IT specialists and front-office experts, along with emerging roles like programmers and AI specialists.
Mexico City has now surpassed São Paulo as Latin America’s largest tech hub. However, many new graduates lack skills in AI and big data; skills increasingly required by large companies.
Experts believe the talent shortage is due to limited skill development programs, uneven access to high-speed Internet and inadequate technology education in universities.
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