How much money does a person working in Panama make?
2,686 PAB per month
Average Monthly Salary
A person working in Panama typically earns around 2,686 PAB per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Distribution of Salaries in Panama | All Jobs
Abount These Figures: Salary Range, Median and Percentiles
Salaries in Panama range between 364 PAB per month (minimum salary) to 11,893 PAB per month (maximum salary).
The median salary is 2,686 PAB per month, which means that half (50%) of the population are earning less than 2,686 PAB while the other half are earning more than 2,686 PAB. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 1,372 PAB while 75% of them are earning more than 1,372 PAB. Also from the diagram, 75% of the population are earning less than 7,289 PAB while 25% are earning more than 7,289 PAB.
What is the difference between the median and the average salary? What should you be looking at?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary
Salary Trend and Forecast in Panama
How are Panama salaries changing over time? Listed below is a chart that shows the average salary over the past few years.
|Average Salary 2016|| = |
|Average Salary 2017|| +4% |
|Average Salary 2018|| +3% |
|Average Salary 2019|| +1% |
Percentage increase and decrease are relative to the previous value
Salaries in Panama are on the rise in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 1% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.
Salaries for popular jobs
|Administrative Assistant||1,393 PAB|
|Biomedical Engineer||2,306 PAB|
|CAD Drafter||1,910 PAB|
|Chartered Accountant||2,147 PAB|
|Chief Executive Officer||5,572 PAB|
|Chief Financial Officer||5,370 PAB|
|Civil Engineer||2,430 PAB|
|Computer Technician||2,047 PAB|
|Creative Director||2,718 PAB|
|Developer / Programmer||2,299 PAB|
|Electrical Engineer||2,541 PAB|
|Elementary School Teacher||1,704 PAB|
|Executive Chef||2,306 PAB|
|Flight Attendant||2,185 PAB|
|General Manager||4,352 PAB|
|Graphic Designer||1,729 PAB|
|Hotel Manager||3,775 PAB|
|Human Resources Manager||3,455 PAB|
|Internal Auditor||2,722 PAB|
|Legal Assistant||1,829 PAB|
|Mechanical Engineer||2,640 PAB|
|Police Officer||2,083 PAB|
|Project Manager||2,900 PAB|
|Sales Manager||4,093 PAB|
|Sales Representative||1,647 PAB|
|Secondary School Teacher||2,177 PAB|
|Travel Agent||2,158 PAB|
|Waiter / Waitress||1,542 PAB|
Average Hourly Wage in Panama | All Jobs
15 PAB per hour
Average Hourly Wage
The average hourly wage (pay per hour) in Panama | All Jobs is 15 PAB. This means that the average person in Panama earns approximatly 15 PAB for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
The hourly wage is the salary paid in one working hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.
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