¨The Other Half¨ in BS AS?

dani28

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I am starting to believe, despite not personally knowing many, there must be a good bit of Argentine executives and business people earning salaries that might make many ex-pats bat an eyelash, drool even, and that are just as competitve with US and European standards, based on some of the tactics and requirements I have seen put into place in the last few months, not to mention the one that affects many ex pats, and that is the requirement of the visa rentista being raised to 8000 pesos of CLEAR income per month (which, in my opinion, is still enough to live VERY well if you dont have to pay ¨extranjero¨ rent prices and dont live in the tourist trap bubble of places) It is equivalent to a native working earning a total salary of about 10-11k (before taxes).

A friend of mine, a young psychologist here earning what many would consider a darn good ¨entry level professional salary¨ of 6000 pesos (just out of college a few months ago) was recently lured at the Alto Palermo movie theater's American Express kiosk to apply for the standard Green card which every Tom, Dick, and Harry I know in the States can have (if you have good credit). and was blatantly turned down for not meeting their minimum income requirement of 12.000 pesos per month. Keep in mind this is Argentina we are talking about and it was for the basic, bare-bones Classic Green Card. Out of curiosity, we inquired and found that the income requirement for Gold is at 20.000 and Platinum 30.000+
That is a hell of a lot of monthly income for Argentina. I know a lot of professionals in pretty darn good jobs that do not make near this. A project manager at Telefonica with 10 years tenure is earning around 10k, a risk manager at a potent Argentine bank company earning just shy of 11k, etc. Not to mention that a lot of the Argentines I know who are REALLY making big bucks seem to be ¨en negro¨ and would have no way of justfying their high roller incomes.
As someone who is job hunting and has a pretty darn good CV, where are these positions paying this range of salaries??? There must be a good bit if a potent company such as AMEX can actively offer their product in this market and are promoting themselves heavily (IE: kiosks at theaters, ads in magazines, etc)

I want a piece of that pie!! LOL
 
I get your frustration!! Rant away. I get annoyed sometimes with this type of thing too. It can feel like it is really difficult for hard-working people to end up in a good situation sometimes.

As far as the AMEX/credit card stuff goes I wonder how often the limits apply. I was offered a credit card here that I would never in a million years even consider. I was offered a very high limit all because we knew someone that worked with this particular credit card. They told us they waive the earning requirement for some people. I wonder how many friends get their friends these cards. The ol´precio de amigo (& that probably contributes to the high income requirement. Risk everyone probably pays for). Also the super high requirements make sense in a country that doesn´t have the type of borrowing history the U.S. does.
 
I think that in Argentina most people don't have credit cards while in the USA most people do. Credit cards are dangerous if they give people a sense of purchasing power that in reality they don't have.
 
Having creditcards that charge 25% interest is not a sign of progress but a sign of enslavement I see too many Argentinians now falling for the salegimicks of 6 months interest free when the products in question are always dearer as the interest is incorporated in the price.
 
American Express is probably a small % of the credit card market in Argentina but even if they only qualify 5% of the population that is still a LOT of people and most of them would be located in a small part of BA.
 
Well, if you have land, you are very very rich, even if you have a small piece (in Argentinian terms). If you have a land with soy on it, 30.000 pesos is what you use to clean your butt when you go to the toilet.

If you are a capitalist in Argentina, co-owner of a medium or even owner of a small company, 30.000 pesos is the bare minimum that you would consider as a "living-wage".

If you are a manager of a big company, 30.000 pesos was your wage a couple of years ago, that is, if you are not really one of the big bosses.

If you are a politician, well, you know.

Lots of people do over 30.000 pesos a month, and most of them have an apartment near Alto Palermo.
 
marksoc said:
Well, if you have land, you are very very rich, even if you have a small piece (in Argentinian terms). If you have a land with soy on it, 30.000 pesos is what you use to clean your butt when you go to the toilet.

If you are a capitalist in Argentina, co-owner of a medium or even owner of a small company, 30.000 pesos is the bare minimum that you would consider as a "living-wage".

If you are a manager of a big company, 30.000 pesos was your wage a couple of years ago, that is, if you are not really one of the big bosses.

If you are a politician, well, you know.

Lots of people do over 30.000 pesos a month, and most of them have an apartment near Alto Palermo.

Alto Palermo? Clarin says they're all in Puerto Madero. ;)
 
marksoc said:
If you are a capitalist in Argentina, co-owner of a medium or even owner of a small company, 30.000 pesos is the bare minimum that you would consider as a "living-wage".

Damn, what are all my capitalist, business-owning friends doing wrong?:rolleyes:

There is old money and A LOT of it here. It's just usually not currently sitting in Argentina.

Earning that level of salary in a job isn't common. I would think jobs paying 30K a month are few and far between and you're looking for a needle in a haystack.
 
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