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Average Salary in Panama 2019

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

Median and salary distribution monthly Panama

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.

Salary trends and forecast monthly Panama
Average Salary 2016    =  
2,494 PAB
Average Salary 2017    +4%  
2,586 PAB
Average Salary 2018    +3%  
2,651 PAB
Average Salary 2019    +1%  
2,686 PAB
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

Job TitleAverage Salary
Accountant1,782 PAB
Administrative Assistant1,393 PAB
Architect2,367 PAB
Attorney3,814 PAB
Biomedical Engineer2,306 PAB
CAD Drafter1,910 PAB
Cashier1,422 PAB
Chartered Accountant2,147 PAB
Chef2,069 PAB
Chief Executive Officer5,572 PAB
Chief Financial Officer5,370 PAB
Civil Engineer2,430 PAB
Computer Technician2,047 PAB
Creative Director2,718 PAB
Dentist5,912 PAB
Developer / Programmer2,299 PAB
Electrical Engineer2,541 PAB
Elementary School Teacher1,704 PAB
Engineer2,425 PAB
Executive Chef2,306 PAB
Flight Attendant2,185 PAB
General Manager4,352 PAB
Graphic Designer1,729 PAB
Hotel Manager3,775 PAB
Human Resources Manager3,455 PAB
Internal Auditor2,722 PAB
Journalist2,491 PAB
Legal Assistant1,829 PAB
Mechanical Engineer2,640 PAB
Nurse2,057 PAB
Pharmacist2,868 PAB
Photographer1,758 PAB
Pilot3,117 PAB
Police Officer2,083 PAB
Project Manager2,900 PAB
Receptionist1,419 PAB
Sales Manager4,093 PAB
Sales Representative1,647 PAB
Secondary School Teacher2,177 PAB
Secretary1,341 PAB
Teacher1,964 PAB
Teller1,740 PAB
Travel Agent2,158 PAB
Waiter / Waitress1,542 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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