I. Overview of Salaries in Mexico

1. Mexico's Minimum Wage

Mexico's daily minimum wage is 141.70 Mexican pesos (around $7.15), equivalent to 4,250 pesos ($215) monthly. However, this only applies to unskilled jobs, and is a basic level - many companies pay higher wages.

2. Mexico's Salary Structure

Mexican salary packages typically comprise basic wage, bonuses based on performance and profits, and benefits like healthcare and pensions.

3. Mexico's Tax Policies

Mexico has relatively complex taxation, with high personal income tax rates up to 35%. Other taxes like VAT also apply.

II. Salaries and Benefits in Mexico

1. Health Insurance

Mexico provides compulsory public health insurance for all employees. Some companies also offer additional private coverage.

2. Pensions

Mexico has government-provided pensions that employees must contribute to. Some companies offer additional retirement benefits.

3. Paid Leave

Mexican law provides 6 days of paid annual leave. Some companies offer more generous paid leave.

4. Holiday Benefits

Mexico has many public holidays like Christmas and Easter when companies may provide additional benefits such as gifts and bonuses.

5. Education Benefits

Some companies subsidize continuing education like training courses and classes.

III. Considerations for Compensation Management in Mexico

1. Understanding Local Laws

Navigating Mexico's complex labor laws is essential for compliance.

2. Determining Appropriate Salary Structures

Employers should tailor pay packages to attract and retain talent based on company needs and local market conditions.

3. Managing Taxation

Local tax policies must be understood to handle employee taxes properly.

4. Recognizing Cultural Differences

Mexico's rich culture requires awareness to effectively manage staff and operations.

In conclusion, doing business in Mexico requires grasping compensation norms and management considerations. Employers should offer locally-aligned, compliant pay structures, while recognizing cultural differences to successfully manage employees and operations.