HOME BROWSE SALARIES BEST PAYING JOBS
Browse Salaries
Best Paying Jobs
Salary Increase Letters
Career Articles

Laboratory Technician Average Salary in Panama 2020

How much money does a Laboratory Technician make in Panama?


Average Monthly Salary
1,620 PAB
( 19,400 PAB yearly)

LOW
860
PAB
AVERAGE
1,620
PAB
HIGH
2,460
PAB

A person working as a Laboratory Technician in Panama typically earns around 1,620 PAB per month. Salaries range from 860 PAB (lowest) to 2,460 PAB (highest).

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

Laboratory Technician Salary Distribution in Panama

Median and salary distribution monthly Panama Laboratory Technician
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/median-and-salary-distribution-monthly-panama-laboratory-technician.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    Laboratory Technician salaries in Panama range from 860 PAB per month (minimum salary) to 2,460 PAB per month (maximum salary).

  • Median Salary

    The median salary is 1,520 PAB per month, which means that half (50%) of people working as Laboratory Technician(s) are earning less than 1,520 PAB while the other half are earning more than 1,520 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 Laboratory Technician(s) are earning less than 1,070 PAB while 75% of them are earning more than 1,070 PAB. Also from the diagram, 75% of Laboratory Technician(s) are earning less than 1,870 PAB while 25% are earning more than 1,870 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

Laboratory Technician Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Panama Laboratory Technician
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/salary-comparison-by-years-of-experience-monthly-panama-laboratory-technician.jpg

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 Laboratory Technician salaries by experience level and this is what we found.

A Laboratory Technician with less than two years of experience makes approximately 980 PAB per month.

While someone with an experience level between two and five years is expected to earn 1,210 PAB per month, 23% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 1,710 PAB per month, 42% 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, Laboratory Technician(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,000 PAB per month, 17% 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 2,200 PAB per month, 10% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 2,330 PAB per month, 6% more than people with fifteen to twenty years of experience.


Laboratory Technician average salary change by experience in Panama

0 - 2 Years
980 PAB
2 - 5 Years+23%
1,210 PAB
5 - 10 Years+42%
1,710 PAB
10 - 15 Years+17%
2,000 PAB
15 - 20 Years+10%
2,200 PAB
20+ Years+6%
2,330 PAB
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Laboratory Technician Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Panama Laboratory Technician
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/salary-comparison-by-education-level-monthly-panama-laboratory-technician.jpg

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 Laboratory Technician salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of a Laboratory Technician is 1,110 PAB per month.

While someone with a Master's Degree gets a salary of 2,150 PAB per month, 93% more than someone having a Bachelor's Degree degree.


Laboratory Technician average salary difference by education level in Panama

Bachelor's Degree
1,110 PAB
Master's Degree+93%
2,150 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Laboratory Technician Salary Comparison By Gender

Salary comparison by gender monthly Panama Laboratory Technician
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/salary-comparison-by-gender-monthly-panama-laboratory-technician.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Laboratory Technician employees in Panama earn 10% more than their female counterparts on average.

Male
1,680 PAB
Female-9%
1,530 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/salary-comparison-by-gender-monthly-panama.jpg

Laboratory Technician Average Annual Salary Increment Percentage in Panama

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

Laboratory Technician

Laboratory Technician(s) in Panama are likely to observe a salary increase of approximately 8% 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 Laboratory Technician
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/annual-salary-increment-rate-panama-laboratory-technician.jpg


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 2019

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 2019. 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

Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Laboratory Technician Bonus and Incentive Rates in Panama

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Panama Laboratory Technician
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/annual-salary-bonus-rate-panama-laboratory-technician.jpg

A Laboratory Technician 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.

75% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 25% 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
25%
No Bonus
75%

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.

Example:
A graphics designer working for a graphics designing company.

Example:
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.

Laboratory Technician Average Hourly Wage in Panama


9 PAB per hour

The average hourly wage (pay per hour) in Panama is 9 PAB. This means that the average Laboratory Technician in Panama earns approximately 9 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.

Laboratory Technician VS Other Jobs

Salary Comparison Between Laboratory Technician and Health and Medical monthly Panama
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/panama/health-and-medical/healthcare-technical/laboratory-technician/salary-comparison-between-laboratory-technician-and-health-and-medical-monthly-panama.jpg

The average salary for Laboratory Technician is 39% less than that of Healthcare Technical. Also, Healthcare Technical salaries are 17% less than those of Health and Medical.

Salary comparison with similar jobs

Job TitleAverage Salary
Academic Clinician4,130 PAB+160%
Admitting Officer1,470 PAB-9%
Ambulance Dispatcher1,640 PAB+2%
Ambulance Driver1,460 PAB-10%
Ambulance Officer and Paramedic1,740 PAB+8%
Ambulatory Services Director3,120 PAB+93%
Anatomic Pathology Supervisor3,790 PAB+130%
Anesthesia Technician2,170 PAB+34%
Anesthesiologist6,520 PAB+300%
Anesthesiology Assistant2,260 PAB+40%
Assistant Optometrist1,890 PAB+17%
Audiologist3,840 PAB+140%
Biomedical Engineering Director2,960 PAB+83%
Biomedical Engineering Technician1,510 PAB-7%
Cardiac Technician1,410 PAB-13%
Cardiovascular Specialist8,310 PAB+410%
Cardiovascular Technologist3,050 PAB+89%
Central Sterile Processing Technician1,770 PAB+10%
Charge Entry Specialist1,890 PAB+17%
Clinical Application Specialist1,880 PAB+16%
Clinical Biochemist3,600 PAB+120%
Clinical Cytogeneticist2,970 PAB+84%
Clinical Data Reviewer1,820 PAB+13%
Clinical Development Specialist2,430 PAB+50%
Clinical Field Associate1,880 PAB+16%
Clinical Genetic Technologist2,880 PAB+78%
Clinical Microbiologist4,180 PAB+160%
Clinical Molecular Geneticist3,370 PAB+110%
Clinical Neuropsychologist4,300 PAB+170%
Clinical Research Coordinator2,170 PAB+34%
Clinical Scientist4,010 PAB+150%
CME Specialist3,110 PAB+93%
CT Technologist1,860 PAB+15%
Cytogenetic Technologist2,970 PAB+84%
Diagnostic Medical Sonographer2,270 PAB+41%
Dispensing Optician1,870 PAB+16%
Dosimetrist2,640 PAB+63%
EKG Technician1,800 PAB+11%
Endoscopic Assistant1,610 PAB-0%
Endoscopy Technician1,720 PAB+7%
Enterostomal Therapist2,680 PAB+66%
Epidemiologist3,340 PAB+110%
FGP Ultrasound Techncian1,680 PAB+4%
Health Systems Specialist2,470 PAB+53%
Health Technologist2,680 PAB+66%
Healthcare Data Analyst2,020 PAB+25%
Hearing Aid Specialist2,020 PAB+25%
Histotechnologist2,680 PAB+66%
Immunologist3,600 PAB+120%
Industrial Hygienist2,740 PAB+70%
Infection Control Coordinator1,940 PAB+20%
Infection Control Practitioner4,070 PAB+150%
Infection Preventionist3,130 PAB+94%
Informatics Practice Specialist2,370 PAB+47%
Interventional Radiographer3,140 PAB+94%
Lab Assistant1,530 PAB-5%
Laboratory Manager2,870 PAB+78%
Laboratory Technician1,620 PAB+0%
Low Vision Therapist3,350 PAB+110%
Mammography Technician1,540 PAB-5%
Medical Coder1,370 PAB-15%
Medical Courier1,140 PAB-29%
Medical Equipment Preparer1,660 PAB+3%
Medical Forms Designer1,370 PAB-15%
Medical Technologist1,730 PAB+7%
MRI Technologist1,700 PAB+5%
Music Therapist2,400 PAB+49%
Neonatologist4,560 PAB+180%
Neurodiagnostic Techncian1,650 PAB+2%
Neuropsychology Testing Assistant1,470 PAB-9%
Nuclear Medical Technician2,290 PAB+42%
Nuclear Medicine Technolgoist2,180 PAB+35%
Nutrition Assistant1,560 PAB-3%
Occupaitional Therapy Assistant1,760 PAB+9%
Operating Room Scheduler1,460 PAB-10%
Operating Room Services Director4,850 PAB+200%
Ophthalmic Assistant1,800 PAB+11%
Ophthalmic Laboratory Technician1,740 PAB+8%
Optician3,780 PAB+130%
Orthopedic Technician1,750 PAB+8%
Orthoptist4,690 PAB+190%
Orthotist4,530 PAB+180%
Pathology Assistant1,590 PAB-2%
Perfusionist5,220 PAB+220%
Phlebotomist1,230 PAB-24%
Pre Authorization Case Manager2,410 PAB+49%
Prosthetist3,960 PAB+150%
Radiation Therapist5,940 PAB+270%
Radiation Therapy Technologist2,240 PAB+39%
Radiographer3,660 PAB+130%
Radiography Technologist2,390 PAB+48%
Radiologic Technologist2,370 PAB+47%
Radiology Technologist2,420 PAB+50%
Respiratory Care Practitioner4,340 PAB+170%
Respiratory Therapist3,220 PAB+99%
Respiratory Therapy Technician1,850 PAB+15%
Sonographer2,210 PAB+37%
Sonography Technologist2,270 PAB+41%
Speech and Language Pathologist3,530 PAB+120%
Ultrasonographer1,770 PAB+10%
Ultrasound Technologist1,750 PAB+8%
Vascular Technologist1,620 PAB+0%
X-Ray Technologist2,390 PAB+48%

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

Browse Salaries

Salary Increase Letters

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2020