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Drilling Engineer Average Salary in Panama 2022

How much money does a Drilling Engineer make in Panama?

Average Monthly Salary
1,850 PAB
( 22,200 PAB yearly)


A person working as a Drilling Engineer in Panama typically earns around 1,850 PAB per month. Salaries range from 960 PAB (lowest) to 2,830 PAB (highest).

This is the average monthly salary including housing, transport, and other benefits. Drilling Engineer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Drilling Engineer Salary Distribution in Panama

Median and salary distribution monthly Panama Drilling Engineer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Drilling Engineer salaries in Panama range from 960 PAB per month (minimum salary) to 2,830 PAB per month (maximum salary).

  • Median Salary

    The median salary is 1,770 PAB per month, which means that half (50%) of people working as Drilling Engineer(s) are earning less than 1,770 PAB while the other half are earning more than 1,770 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.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Drilling Engineer(s) are earning less than 1,230 PAB while 75% of them are earning more than 1,230 PAB. Also from the diagram, 75% of Drilling Engineer(s) are earning less than 2,210 PAB while 25% are earning more than 2,210 PAB.

What is the difference between the median and the average salary?

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 plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Drilling Engineer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Panama Drilling Engineer
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Drilling Engineer salaries by experience level and this is what we found.

A Drilling Engineer with less than two years of experience makes approximately 1,090 PAB per month.

While someone with an experience level between two and five years is expected to earn 1,460 PAB per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 1,900 PAB per month, 30% more than someone with two to five years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Additionally, Drilling Engineer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,300 PAB per month, 21% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 2,520 PAB per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 2,650 PAB per month, 5% more than people with fifteen to twenty years of experience.

Drilling Engineer average salary change by experience in Panama

0 - 2 Years
1,090 PAB
2 - 5 Years+34%
1,460 PAB
5 - 10 Years+30%
1,900 PAB
10 - 15 Years+21%
2,300 PAB
15 - 20 Years+9%
2,520 PAB
20+ Years+5%
2,650 PAB
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Drilling Engineer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Drilling Engineer(s) who have the same experience but different education levels.

Salary comparison by education level monthly Panama Drilling Engineer
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Drilling Engineer salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of a Drilling Engineer is 1,300 PAB per month.

While someone with a Bachelor's Degree gets a salary of 1,970 PAB per month, 52% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 2,790 PAB per month, 42% more than someone with a Bachelor's Degree.

Drilling Engineer average salary difference by education level in Panama

Certificate or Diploma
1,300 PAB
Bachelor's Degree+52%
1,970 PAB
Master's Degree+42%
2,790 PAB
Percentage increase and decrease are relative to the previous value

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Panama costs anywhere from 10,600 Balboa(s) to 31,800 Balboa(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Drilling Engineer Salary Comparison By Gender

Salary comparison by gender monthly Panama Drilling Engineer
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Drilling Engineer employees in Panama earn 8% more than their female counterparts on average.

1,930 PAB
1,790 PAB
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Panama for all Careers

Salary comparison by gender monthly Panama
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Drilling Engineer Average Annual Salary Increment Percentage in Panama

How much are annual salary increments in Panama for Drilling Engineer(s)? How often do employees get salary raises?

Drilling Engineer

Drilling Engineer(s) in Panama are likely to observe a salary increase of approximately 10% every 19 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.

Annual Salary Increment Rate Panama Drilling Engineer
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Panama / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Panama is 4%.

Annual Increment Rate By Industry 2021

Information Technology

Listed above are the average annual increase rates for each industry in Panama for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Worldwide Salary Raises: All Countries and All Jobs

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Drilling Engineer Bonus and Incentive Rates in Panama

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Panama Drilling Engineer
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A Drilling Engineer is considered to be a low bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

74% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 26% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.

Received Bonus
No Bonus

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.

What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

A graphics designer working for a graphics designing company.

A graphic designer in the marketing department of a hospital.

Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Drilling Engineer Average Hourly Wage in Panama

11 PAB per hour

The average hourly wage (pay per hour) in Panama is 11 PAB. This means that the average Drilling Engineer in Panama earns approximately 11 PAB for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked 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 the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Drilling Engineer VS Other Jobs

Salary Comparison Between Drilling Engineer and Engineering monthly Panama
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The average salary for Drilling Engineer is 3% more than that of Engineering. Also, Engineering salaries are 16% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Acoustics Engineer1,760 PAB-5%
Assembly Engineering Technician1,410 PAB-24%
Assistant Chief Engineer1,980 PAB+7%
Associate Engineer1,590 PAB-14%
Autocad Operator1,150 PAB-38%
Automation Engineer2,030 PAB+10%
Avionic System Support Engineer1,690 PAB-9%
Biochemical Engineer1,750 PAB-5%
BMS Engineer1,730 PAB-6%
Bridge and Lock Tender960 PAB-48%
Broadcast Engineer1,880 PAB+2%
CAD Design Engineer1,930 PAB+4%
CAD Designer1,130 PAB-39%
CAE Engineer1,720 PAB-7%
Ceramics Engineer1,730 PAB-6%
Civil Engineer1,890 PAB+2%
Commissioning Engineer1,750 PAB-5%
Communications Engineer2,010 PAB+9%
Condition Monitoring Engineer1,530 PAB-17%
Contract Associate Engineer1,780 PAB-4%
Control Systems Engineer1,730 PAB-6%
Controls Engineer1,850 PAB+0%
Controls Software Engineer1,660 PAB-10%
Corrosion Engineer1,680 PAB-9%
Design Engineer1,820 PAB-1%
Drafter1,190 PAB-36%
Drafting Manager2,120 PAB+15%
Drilling Engineer1,850 PAB+0%
Electrical Draughtsman910 PAB-51%
Electrical Engineer2,020 PAB+9%
Electrical Engineering Manager2,560 PAB+39%
Electromechanical Engineering Technologist2,010 PAB+9%
Electromechanical Equipment Assembler950 PAB-49%
Energy Engineer1,880 PAB+2%
Engine Assembler790 PAB-57%
Engineer2,010 PAB+9%
Engineering Account Manager2,060 PAB+12%
Engineering Chief Designer2,160 PAB+17%
Engineering Consultant2,460 PAB+33%
Engineering Key Account Manager2,760 PAB+49%
Engineering Lab Technician1,710 PAB-7%
Engineering Planning Manager2,620 PAB+42%
Engineering Production Manager3,120 PAB+69%
Engineering Project Analyst2,110 PAB+14%
Engineering Project Coordinator 2,020 PAB+9%
Engineering Project Director3,690 PAB+100%
Engineering Project Manager2,590 PAB+40%
Engineering Research and Development Manager2,820 PAB+53%
Engineering Safety Coordinator1,380 PAB-25%
Engineering Sales Manager2,450 PAB+33%
Engineering Technician1,430 PAB-23%
Engineering Technologist1,360 PAB-26%
Environmental Engineer1,810 PAB-2%
Equipment Engineer1,630 PAB-12%
Equipment Engineering Manager2,510 PAB+36%
Estimator1,630 PAB-12%
Fabrication Specialist1,340 PAB-27%
Fabricator830 PAB-55%
Facade Engineer1,810 PAB-2%
Fiber Analyst1,090 PAB-41%
Field Engineer1,920 PAB+4%
Field Engineering Manager3,010 PAB+63%
Fire Engineer1,850 PAB+0%
Fitter and Turner570 PAB-69%
Forestry Strategic Planner2,090 PAB+13%
Generation Engineer1,830 PAB-1%
Genetic Engineer1,990 PAB+8%
Geological Engineer1,910 PAB+3%
Geotechnical Engineer2,030 PAB+10%
Heavy Equipment Mechanic1,000 PAB-46%
Highway Engineer1,840 PAB-0%
HSE Professional1,670 PAB-10%
HVAC Engineer1,900 PAB+3%
HVAC Supervisor1,590 PAB-14%
Industrial Engineer1,840 PAB-0%
Industrial Engineering Technologist1,760 PAB-5%
Instrument Engineer1,810 PAB-2%
Instrumentation and Control Engineer1,860 PAB+1%
Instrumentation Engineer1,870 PAB+1%
Instrumentation Manager1,740 PAB-6%
Irrigation Engineer1,790 PAB-3%
Licensed Aircraft Engineer2,020 PAB+9%
Locomotive Engineer1,790 PAB-3%
Maintenance Engineer1,680 PAB-9%
Maintenance Fitter670 PAB-64%
Maintenance Manager1,760 PAB-5%
Manufacturing Engineer1,840 PAB-0%
Marine Engineer1,860 PAB+1%
Materials Engineer1,750 PAB-5%
Materials Researcher1,630 PAB-12%
Materials Technician1,340 PAB-27%
Mechanical and Electrical Engineer2,060 PAB+12%
Mechanical Design Engineer1,940 PAB+5%
Mechanical Designer1,520 PAB-18%
Mechanical Engineer2,040 PAB+10%
Mechanical Engineering Manager2,600 PAB+41%
Mechanical Inspector1,800 PAB-3%
Mechatronics Engineer1,930 PAB+4%
Mining Engineer1,870 PAB+1%
Oil and Petrochemical Engineer2,090 PAB+13%
Optical Engineer1,790 PAB-3%
Optical Instrument Assembler900 PAB-51%
PCB Assembler660 PAB-64%
Photonics Engineer1,970 PAB+7%
Photonics Technician1,720 PAB-7%
Pipeline Engineer1,600 PAB-13%
Piping Designer1,020 PAB-45%
Piping Engineer1,660 PAB-10%
Planning Engineer1,850 PAB+0%
Pressure Vessel Inspector830 PAB-55%
Principal Cost Engineer1,930 PAB+4%
Principal Engineer1,860 PAB+1%
Principal Support Engineer1,800 PAB-3%
Process Engineer1,830 PAB-1%
Process Operator1,130 PAB-39%
Product Development Engineer1,860 PAB+1%
Product Development Technician1,380 PAB-25%
Product Engineer1,990 PAB+8%
Product Safety Engineer1,710 PAB-7%
Production Engineer1,820 PAB-1%
Project Engineer1,960 PAB+6%
Proposal Manager2,440 PAB+32%
Purchasing Engineer1,660 PAB-10%
Quality Assurance Engineer1,770 PAB-4%
Rail Engineer1,930 PAB+4%
Robotics Engineer2,010 PAB+9%
Robotics Technician1,560 PAB-16%
Safety Engineer1,850 PAB+0%
Safety Inspector1,400 PAB-24%
Safety Manager2,210 PAB+20%
Safety Officer960 PAB-48%
Sales Engineer1,940 PAB+5%
Scheduling Engineer1,640 PAB-11%
Service Engineer1,900 PAB+3%
Solar Engineer1,980 PAB+7%
Staff Engineer1,820 PAB-1%
Static Equipment Engineer1,850 PAB+0%
Stationary Engineer1,680 PAB-9%
Stress Engineer1,780 PAB-4%
Structural Analysis Engineer1,820 PAB-1%
Structural Designer1,640 PAB-11%
Structural Engineer1,760 PAB-5%
Structural Technician1,230 PAB-33%
Supply Chain Specialist1,830 PAB-1%
Surveyor1,410 PAB-24%
Technical Affairs Officer930 PAB-50%
Technical Assistant930 PAB-50%
Technical Engineer1,610 PAB-13%
Technical Support Engineer1,530 PAB-17%
Tender Engineer1,650 PAB-11%
Test Development Engineer1,750 PAB-5%
Transportation Engineer1,700 PAB-8%
Validation Engineer1,620 PAB-12%
Verification Engineer1,770 PAB-4%
Wastewater Engineer1,780 PAB-4%
Wind Energy Engineer1,790 PAB-3%
Wind Energy Operations Manager2,500 PAB+35%
Work Planner1,340 PAB-27%

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Panama earn 5% more than their private sector counterparts on average across all sectors.

Private Sector
2,060 PAB
Public Sector+5%
2,170 PAB
Percentage increase and decrease are relative to the previous value

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