Highest salaries in Argentina?

[Ries]

One thing to keep in mind- Most middle class or above income Argentines own their homes outright. Many have inherited apartments or homes, but pretty much all paid cash, often at much lower prices than today.
So rent or mortgage expenses are usually non existent in the way that the are, say, in the USA. And real estate taxes are incredibly low compared to the USA, as well. There are places in the USA, many of them, where people with a $210k income spend $15k a year on property taxes, $100k a year on mortgage payments, and thousands more on insurance and upkeep for those homes. The average 1 bedroom apartment in NYC is now around a million dollars, but in addition to actually paying for it, you often have a MONTHLY maintenance fee of another $2k on top of everything else. Plus, utilities in the USA are five to ten times argentine prices.

All of which means a hundred grand, or two hundred grand, goes a LOT farther here, except for your iphone and electronic toy purchases.

 

[Daniel82]

Hotel food even at the five stars in Buenos Aires is generally good but unmemorable, although I’m crazy about the burger at the Four Seasons Pony Line Bar (which apparently has been called the best burger in BA) but as you mentioned most of the best places I’ve eaten in BA haven’t been the direly expensive ones.

With regards to my friend raking in the 210k USD, he was in charge of all the Mexico and Latin America territory for a pretty big time multi national and reported directly to the number two in the entire corporation.... In the states and Europe someone with this responsibility and covering so much territory would earn considerably more, thus this is a very good salary—- by Argentina standards.

As mentioned, he worked it pretty well. His wife did not work, kids went to good private schools (but not the upper echelon ones), his role with the multi national always had him going to dinners and events at fancy places so he rarely spent much on evenings out, bought his place cash when property was cheap so didn’t have a mortgage payment, and only bought non-neccesary things when travelling to the States at least once a year, sometimes twice.

 

[sergio]

Most people do not live in New York. And few of those who do earn $210,000 USD a year. That's a huge salary in the US. Anyway the point is just as you said, a salary like that is worth much more here -- and anyone earning that could save cash and in a couple of years buy a nice property in cash. As for those poor, strggling people in the US earning only $210,000 USD, I really can't feel too sorry for them. If they have to work in New York City, they can commute from New Jersey and buy a nice suburban home for an affordable price. By the way, there are plenty of 1 BR Manhattan apartments (almost all are co-ops in NYC) for a lot less than $1,000,000.

 

[sergio]

Hotel food even at the five stars in Buenos Aires is generally good but unmemorable, although I’m crazy about the burger at the Four Seasons Pony Line Bar (which apparently has been called the best burger in BA) but as you mentioned most of the best places I’ve eaten in BA haven’t been the direly expensive ones.

With regards to my friend raking in the 210k USD, he was in charge of all the Mexico and Latin America territory for a pretty big time multi national and reported directly to the number two in the entire corporation.... In the states and Europe someone with this responsibility and covering so much territory would earn considerably more, thus this is a very good salary—- by Argentina standards.

As mentioned, he worked it pretty well. His wife did not work, kids went to good private schools (but not the upper echelon ones), his role with the multi national always had him going to dinners and events at fancy places so he rarely spent much on evenings out, bought his place cash when property was cheap so didn’t have a mortgage payment, and only bought non-neccesary things when travelling to the States at least once a year, sometimes twice.

Poor fellow could have earned more in the US! I really feel for him.

 

[Johnny]

Some well off locals may occasionally eat at Las Lilas but I think most might just try it once. There are many other places in Puerto Madero that are good and cost a lot less. I think the place is perceived as touristic by locals. There used to be a parrilla in Recoleta called El Yugo, unfortunately long gone. They served some excellent beef and lamb. The place was a dump in terms of ambience but the food was really good and inexpensive. I had some better meals there than in the Alvear Palace. Anyway, back to the $210,000 USD salary. That's a huge salary in the US (the average US per capita income is around $25,000 a year) and gargantuan in Argentina. To think that it's not that great is nuts.

Some friends and I were trying to remember the name of that place months ago. A diamond in the rough.

 

[Ries]

The median price of a one bedroom apartment in NYC is $750,000. That means half of them cost more than that. Good luck finding one for less...

Anyway, my point remains, ALL housing in the USA is more expensive, and pretty much everybody is subject to either huge interest costs, or constant rent increases, as well as higher taxes, insurance, and utility bills.
More of your income goes to housing in the USA.
The security of keeping that housing is far more tenuous.
Rents can and do double, not just in NYC, but in every major city.
Foreclosures can happen at speeds unheard of in Argentina, and erase hundreds of thousands in equity.

All of which means, someone who makes a good wage in Argentina lives better, with more security and less worry.

 

[Kula]

There are a lot of “local best-kept secrets” in just about everything you can think of.

this is so true.

Let`s share some?

 

[sergio]

The median price of a one bedroom apartment in NYC is $750,000. That means half of them cost more than that. Good luck finding one for less...

Anyway, my point remains, ALL housing in the USA is more expensive, and pretty much everybody is subject to either huge interest costs, or constant rent increases, as well as higher taxes, insurance, and utility bills.
More of your income goes to housing in the USA.
The security of keeping that housing is far more tenuous.
Rents can and do double, not just in NYC, but in every major city.
Foreclosures can happen at speeds unheard of in Argentina, and erase hundreds of thousands in equity.

All of which means, someone who makes a good wage in Argentina lives better, with more security and less worry.

I agreed with you that $210,000 USD has much more value here for the most part (though cars, electronics and home furnishings cost more here). There are many places in the US where housing is inexpensive, however. Problem is there may not be high paying jobs there. There are plenty of 1 BR co-ops in Manhattan for less than $750,000 USD (you brought the figure down from your original $1 mil USD). I recently looked at a number under $500,000 USD. Some very small ones near the UN were under $350,000 USD.

 

[gracielle]

this is so true.

Let`s share some?

Sounds great. Such info deserves a separate thread!

 

[London2Baires]

I understand doctors don't make that much, but do other professions (law firm partners, hedge fund managers, VPs of major corporations etc...) make very salaries here like they do in the US? For instance, an equity partner at a major law firm in the US usually makes about $1MM or more a year (not really salary but equity draw). Or do the only people who do well here financially have to own businesses, work in government, or play professional soccer?

This article is a little old now, but may still have some interesting info for you:

Los que más ganan: cuáles son los sectores con mejores niveles de salarios

La brecha de ingreso promedio de los trabajadores por rama de actividad fue en noviembre de hasta 5,7 veces. Sólo uno aumentó más que la inflación

www.google.com

"El primer lugar le correspondió a uno de los sectores "vedettes" por la maduración de la explotación del reservorio de Vaca Muerta; junto a la actividad minera, en particular la no tradicional, como el litio, con un ingresopromedio mensual de $102.953, y una mediana de $86.944; en contraste con los servicios de hotelería y restaurantes, con valores de $19.820 y $15.251 respectivamente, y el sistema de enseñanza con remuneraciones de $20.850 y 17.998 pesos."