SAP Consultant Average Salary in Panama 2023
How much money does a SAP Consultant make in Panama?
LOW
980
PAB AVERAGE
2,040
PAB HIGH
3,200
PAB
A person working as a SAP Consultant in Panama typically earns around 2,040 PAB per month. Salaries range from 980 PAB (lowest) to 3,200 PAB (highest).
This is the average monthly salary including housing, transport, and other benefits. SAP Consultant salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
SAP Consultant Salary Distribution in Panama
The median, the maximum, the minimum, and the range
Salary Range
SAP Consultant salaries in Panama range from 980 PAB per month (minimum salary) to 3,200 PAB per month (maximum salary).
Median Salary
The median salary is 2,120 PAB per month, which means that half (50%) of people working as SAP Consultant(s) are earning less than 2,120 PAB while the other half are earning more than 2,120 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 SAP Consultant(s) are earning less than 1,390 PAB while 75% of them are earning more than 1,390 PAB. Also from the diagram, 75% of SAP Consultant(s) are earning less than 2,760 PAB while 25% are earning more than 2,760 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
SAP Consultant Salary Comparison by Years of Experience
How does experience and age affect your pay?
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 SAP Consultant salaries by experience level and this is what we found.
A SAP Consultant with less than two years of experience makes approximately 1,140 PAB per month.
While someone with an experience level between two and five years is expected to earn 1,620 PAB per month, 42% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,130 PAB per month, 31% more than someone with two to five years of experience.
Additionally, SAP Consultant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,620 PAB per month, 23% 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 2,790 PAB per month, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 3,050 PAB per month, 10% more than people with fifteen to twenty years of experience.
SAP Consultant average salary change by experience in Panama
| 0 - 2 Years | 1,140 PAB | |
| 2 - 5 Years | +42% | 1,620 PAB |
| 5 - 10 Years | +31% | 2,130 PAB |
| 10 - 15 Years | +23% | 2,620 PAB |
| 15 - 20 Years | +6% | 2,790 PAB |
| 20+ Years | +10% | 3,050 PAB |
Typical Salary Progress for Most Careers
SAP Consultant Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different SAP Consultant(s) who have the same experience but different education levels.
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 SAP Consultant salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of a SAP Consultant is 1,420 PAB per month.
While someone with a Bachelor's Degree gets a salary of 2,260 PAB per month, 59% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 3,020 PAB per month, 33% more than someone with a Bachelor's Degree.
SAP Consultant average salary difference by education level in Panama
| Certificate or Diploma | 1,420 PAB | |
| Bachelor's Degree | +59% | 2,260 PAB |
| Master's Degree | +33% | 3,020 PAB |
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
SAP Consultant Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male SAP Consultant employees in Panama earn 7% more than their female counterparts on average.
| Male | 2,120 PAB | |
| Female | -6% | 1,990 PAB |
Salary Comparison By Gender in Panama for all Careers
SAP Consultant Average Annual Salary Increment Percentage in Panama
How much are annual salary increments in Panama for SAP Consultant(s)? How often do employees get salary raises?
SAP Consultant
SAP Consultant(s) in Panama are likely to observe a salary increase of approximately 11% every 19 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.
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
Annual Increment Rate By Industry 2022
| Banking | 5% | |
| Energy | 1% | |
| Information Technology | 6% | |
| Healthcare | 2% | |
| Travel | 7% | |
| Construction | 3% | |
| Education | 8% |
Listed above are the average annual increase rates for each industry in Panama for the year 2022. 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
SAP Consultant Bonus and Incentive Rates in Panama
How much and how often are bonuses being awarded?
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A SAP Consultant is considered to be a moderate 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.
45% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 55% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.
| Received Bonus | 55% | |
| No Bonus | 45% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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. |
Example: | Example: |
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.
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.
SAP Consultant Average Hourly Wage in Panama
12 PAB per hourThe average hourly wage (pay per hour) in Panama is 12 PAB. This means that the average SAP Consultant in Panama earns approximately 12 PAB for every worked hour.
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.
SAP Consultant VS Other Jobs
The average salary for SAP Consultant is 11% less than that of IT Consultancy. Also, IT Consultancy salaries are 8% more than those of Information Technology.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Advertising Account Planner | 1,830 PAB |  -10% |
| Application Consultant | 2,520 PAB |  +24% |
| Business Process Consultant | 2,090 PAB | +3% |
| ERP / CRM Technical Consultant | 2,140 PAB | +5% |
| Information Program Director | 2,810 PAB | +38% |
| Information Services Consultant | 2,380 PAB | +17% |
| Information Technology Consultant | 2,300 PAB | +13% |
| SAP Consultant | 2,040 PAB | +0% |
| Sharepoint Consultant | 2,030 PAB | -0% |
| Systems Consultant | 2,300 PAB | +13% |
| Technical Consultant | 2,320 PAB | +14% |
| Test Analyst | 2,020 PAB | -1% |
| Testing Manager | 2,740 PAB | +35% |
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 |
