Melt the butter in a large skillet over medium-high heat and add the corn in a single layer.

Cook the corn undisturbed for 3 to 4 minutes to let it char slightly on one side, then stir and cook another 3 to 4 minutes until lightly browned in spots.

Transfer the hot corn to a large bowl and let cool for 5 minutes so it does not melt the mayonnaise.

Stir in the mayonnaise, cotija, chili powder, cilantro, lime juice and salt until everything is evenly coated.

Taste and adjust lime or salt, then transfer to a serving bowl.

Finish with an extra dusting of cotija and chili powder just before setting it out.