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 salaries in Panama range from 860 PAB per month (minimum salary) to 2,460 PAB per month (maximum 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.
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.
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
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.
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.
|0 - 2 Years|
|2 - 5 Years||+23%|
|5 - 10 Years||+42%|
|10 - 15 Years||+17%|
|15 - 20 Years||+10%|
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.
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.
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.
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.
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.
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
Listed above are the average annual increase rates for each industry in Panama for the year 2020. 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.
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.
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.
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.
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.
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.
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.
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.
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.
|Job Title||Average Salary|
|Academic Clinician||4,130 PAB||+160%|
|Admitting Officer||1,470 PAB||-9%|
|Ambulance Dispatcher||1,640 PAB||+2%|
|Ambulance Driver||1,460 PAB||-10%|
|Ambulance Officer and Paramedic||1,740 PAB||+8%|
|Ambulatory Services Director||3,120 PAB||+93%|
|Anatomic Pathology Supervisor||3,790 PAB||+130%|
|Anesthesia Technician||2,170 PAB||+34%|
|Anesthesiology Assistant||2,260 PAB||+40%|
|Assistant Optometrist||1,890 PAB||+17%|
|Biomedical Engineering Director||2,960 PAB||+83%|
|Biomedical Engineering Technician||1,510 PAB||-7%|
|Cardiac Technician||1,410 PAB||-13%|
|Cardiovascular Specialist||8,310 PAB||+410%|
|Cardiovascular Technologist||3,050 PAB||+89%|
|Central Sterile Processing Technician||1,770 PAB||+10%|
|Charge Entry Specialist||1,890 PAB||+17%|
|Clinical Application Specialist||1,880 PAB||+16%|
|Clinical Biochemist||3,600 PAB||+120%|
|Clinical Cytogeneticist||2,970 PAB||+84%|
|Clinical Data Reviewer||1,820 PAB||+13%|
|Clinical Development Specialist||2,430 PAB||+50%|
|Clinical Field Associate||1,880 PAB||+16%|
|Clinical Genetic Technologist||2,880 PAB||+78%|
|Clinical Microbiologist||4,180 PAB||+160%|
|Clinical Molecular Geneticist||3,370 PAB||+110%|
|Clinical Neuropsychologist||4,300 PAB||+170%|
|Clinical Research Coordinator||2,170 PAB||+34%|
|Clinical Scientist||4,010 PAB||+150%|
|CME Specialist||3,110 PAB||+93%|
|CT Technologist||1,860 PAB||+15%|
|Cytogenetic Technologist||2,970 PAB||+84%|
|Diagnostic Medical Sonographer||2,270 PAB||+41%|
|Dispensing Optician||1,870 PAB||+16%|
|EKG Technician||1,800 PAB||+11%|
|Endoscopic Assistant||1,610 PAB||-0%|
|Endoscopy Technician||1,720 PAB||+7%|
|Enterostomal Therapist||2,680 PAB||+66%|
|FGP Ultrasound Techncian||1,680 PAB||+4%|
|Health Systems Specialist||2,470 PAB||+53%|
|Health Technologist||2,680 PAB||+66%|
|Healthcare Data Analyst||2,020 PAB||+25%|
|Hearing Aid Specialist||2,020 PAB||+25%|
|Industrial Hygienist||2,740 PAB||+70%|
|Infection Control Coordinator||1,940 PAB||+20%|
|Infection Control Practitioner||4,070 PAB||+150%|
|Infection Preventionist||3,130 PAB||+94%|
|Informatics Practice Specialist||2,370 PAB||+47%|
|Interventional Radiographer||3,140 PAB||+94%|
|Lab Assistant||1,530 PAB||-5%|
|Laboratory Manager||2,870 PAB||+78%|
|Laboratory Technician||1,620 PAB||+0%|
|Low Vision Therapist||3,350 PAB||+110%|
|Mammography Technician||1,540 PAB||-5%|
|Medical Coder||1,370 PAB||-15%|
|Medical Courier||1,140 PAB||-29%|
|Medical Equipment Preparer||1,660 PAB||+3%|
|Medical Forms Designer||1,370 PAB||-15%|
|Medical Technologist||1,730 PAB||+7%|
|MRI Technologist||1,700 PAB||+5%|
|Music Therapist||2,400 PAB||+49%|
|Neurodiagnostic Techncian||1,650 PAB||+2%|
|Neuropsychology Testing Assistant||1,470 PAB||-9%|
|Nuclear Medical Technician||2,290 PAB||+42%|
|Nuclear Medicine Technolgoist||2,180 PAB||+35%|
|Nutrition Assistant||1,560 PAB||-3%|
|Occupaitional Therapy Assistant||1,760 PAB||+9%|
|Operating Room Scheduler||1,460 PAB||-10%|
|Operating Room Services Director||4,850 PAB||+200%|
|Ophthalmic Assistant||1,800 PAB||+11%|
|Ophthalmic Laboratory Technician||1,740 PAB||+8%|
|Orthopedic Technician||1,750 PAB||+8%|
|Pathology Assistant||1,590 PAB||-2%|
|Pre Authorization Case Manager||2,410 PAB||+49%|
|Radiation Therapist||5,940 PAB||+270%|
|Radiation Therapy Technologist||2,240 PAB||+39%|
|Radiography Technologist||2,390 PAB||+48%|
|Radiologic Technologist||2,370 PAB||+47%|
|Radiology Technologist||2,420 PAB||+50%|
|Respiratory Care Practitioner||4,340 PAB||+170%|
|Respiratory Therapist||3,220 PAB||+99%|
|Respiratory Therapy Technician||1,850 PAB||+15%|
|Sonography Technologist||2,270 PAB||+41%|
|Speech and Language Pathologist||3,530 PAB||+120%|
|Ultrasound Technologist||1,750 PAB||+8%|
|Vascular Technologist||1,620 PAB||+0%|
|X-Ray Technologist||2,390 PAB||+48%|
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.