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Found this doing a Google search: "N" apparently refers to pesos....
Labor - Mexico
Mexican labor has proven to be easily trainable and capable of performing highly skilled and technical work.
Technical institutes throughout the State of Chihuahua are graduating business, administration and engineering students.
High schools and vocational institutions in both El Paso and Juárez are providing students with the necessary skills and education for today’s Maquiladora industry.
Mexican Minimum Wage Calculation
Pesos
U.S. Dollars
Minimum Wage
N$ 38.00
3.8
Salary Composition
Base annual salary (minimum wage 365 days)
N$ 13,850.00
$1,385.18
Christmas bonus (15 days minimum wage)
N$ 569.30
56.93
Vacation bonus (25% of 7 days x minimum wage)
N$ 66.40
6.64
Profit sharing (12 days per year)
N$ 390.80
39.08
Total Salary
N$ 14,876.50
$1,487.65
Taxes and Required Fringe Benefits
Paid by Employer
5% housing
N$ 817.20
$81.72
2.08% state and university
N$ 339.80
33.98
Social Security
N$ 3,480.00
348
2% Retirement fund (SAR)
N$ 326.80
32.68
Total Taxes
N$ 4,963.80
$496.38
Additional Benefits
Savings Fund (10%)
N$ 1,515.50
$151.55
Cafeteria
N$ 3,689.20
368.92
Transportation
N$ 1,421.50
142.15
Uniforms
N$ 173.00
17.3
Attendance bonus
N$ 865.50
86.55
Food Bonus
N$ 3,972.60
397.26
Total Benefits
N$ 16,601.20
$1,660.12
Total Cost of Minimum Wage Employees
with benefits per year
N$ 31,479.50
$3,147.95
Cost per hour
N$ 13.50
$1.35
Note: Exchange rate is calculated t 10.0 pesos to the dollar
New Minimum wage as of January 1, 2000 is N$37.95 pesos daily. 37.95/10.0 = $3.80 US dollars. Hours worked per day - 8 Hours worked per year - 2,392 Total days worked per year - 299 Actual days per year less 52 Sundays
52 Saturdays
7 holidays
7 vacation days (1st year)
The minimum daily wage applies to U.S.-Mexico border cities in geographic zone A which includes Baja California Norte, Baja California Sur, Juarez, Chihuahua, Distrito Federal, Acapulco, Guerro, Nogales, Sonora, Nuevo Laredo, Tamaulipas, Matamoros, Mazatlan, Sinaloa, Coatzacoalcos and Veracruz.
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