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Media Production Manager Average Salary in Panama 2021

How much money does a Media Production Manager make in Panama?


Average Monthly Salary
2,710 PAB
( 32,500 PAB yearly)

LOW
1,410
PAB
AVERAGE
2,710
PAB
HIGH
4,140
PAB

A person working as a Media Production Manager in Panama typically earns around 2,710 PAB per month. Salaries range from 1,410 PAB (lowest) to 4,140 PAB (highest).

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

Media Production Manager Salary Distribution in Panama

Median and salary distribution monthly Panama Media Production Manager
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The median, the maximum, the minimum, and the range

  • Salary Range

    Media Production Manager salaries in Panama range from 1,410 PAB per month (minimum salary) to 4,140 PAB per month (maximum salary).

  • Median Salary

    The median salary is 2,600 PAB per month, which means that half (50%) of people working as Media Production Manager(s) are earning less than 2,600 PAB while the other half are earning more than 2,600 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 Media Production Manager(s) are earning less than 1,800 PAB while 75% of them are earning more than 1,800 PAB. Also from the diagram, 75% of Media Production Manager(s) are earning less than 3,240 PAB while 25% are earning more than 3,240 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

Media Production Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Panama Media Production Manager
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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 Media Production Manager salaries by experience level and this is what we found.

A Media Production Manager with less than two years of experience makes approximately 1,600 PAB per month.

While someone with an experience level between two and five years is expected to earn 2,150 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 2,790 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, Media Production Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,380 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 3,690 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 3,880 PAB per month, 5% more than people with fifteen to twenty years of experience.


Media Production Manager average salary change by experience in Panama

0 - 2 Years
1,600 PAB
2 - 5 Years+34%
2,150 PAB
5 - 10 Years+30%
2,790 PAB
10 - 15 Years+21%
3,380 PAB
15 - 20 Years+9%
3,690 PAB
20+ Years+5%
3,880 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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Media Production Manager Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Panama Media Production Manager
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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 Media Production Manager salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Media Production Manager is 1,930 PAB per month.

While someone with a Certificate or Diploma gets a salary of 2,200 PAB per month, 14% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 3,100 PAB per month, 41% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 3,760 PAB per month, 21% more than someone with Bachelor's Degree.


Media Production Manager average salary difference by education level in Panama

High School
1,930 PAB
Certificate or Diploma+14%
2,200 PAB
Bachelor's Degree+41%
3,100 PAB
Master's Degree+21%
3,760 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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Media Production Manager Salary Comparison By Gender

Salary comparison by gender monthly Panama Media Production Manager
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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 Media Production Manager employees in Panama earn 8% more than their female counterparts on average.

Male
2,830 PAB
Female-7%
2,620 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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Media Production Manager Average Annual Salary Increment Percentage in Panama

How much are annual salary increments in Panama for Media Production Manager(s)? How often do employees get salary raises?

Media Production Manager

Media Production Manager(s) in Panama are likely to observe a salary increase of approximately 10% every 20 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.

Annual Salary Increment Rate Panama Media Production Manager
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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 2020

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 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.


Worldwide Salary Raises: All Countries and All Jobs

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Media Production Manager Bonus and Incentive Rates in Panama

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Panama Media Production Manager
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A Media Production Manager is considered to be a high 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.

23% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 77% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
77%
No Bonus
23%

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.

Media Production Manager Average Hourly Wage in Panama


16 PAB per hour

The average hourly wage (pay per hour) in Panama is 16 PAB. This means that the average Media Production Manager in Panama earns approximately 16 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.

Media Production Manager VS Other Jobs

Salary Comparison Between Media Production Manager and Advertising / Grapic Design / Events monthly Panama
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The average salary for Media Production Manager is 35% more than that of Advertising / Grapic Design / Events. Also, Advertising / Grapic Design / Events salaries are 6% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Advertising Account Executive2,370 PAB-12%
Advertising Account Manager2,610 PAB-4%
Advertising Account Planner1,250 PAB-54%
Advertising Coordinator1,640 PAB-39%
Advertising Manager3,190 PAB+18%
Advertising Operations Manager3,430 PAB+27%
Advertising Strategic Planner2,150 PAB-21%
Advertising Team Leader1,880 PAB-31%
Animator1,480 PAB-45%
Art Director1,970 PAB-27%
Artist1,650 PAB-39%
Artworker1,220 PAB-55%
Assistant Art Director1,660 PAB-39%
Audiosual Technician1,250 PAB-54%
Broadcast Administrator2,170 PAB-20%
Catering Sales1,330 PAB-51%
Catering Trainer1,490 PAB-45%
Commercial and Industrial Designer1,230 PAB-55%
Conference Organiser1,530 PAB-43%
Content and Media Production Lead2,270 PAB-16%
CopyWriter1,350 PAB-50%
Creative Designer1,480 PAB-45%
Creative Director2,110 PAB-22%
Designer 1,150 PAB-58%
Desktop Publisher1,020 PAB-62%
Director of Graphic Design1,950 PAB-28%
Events and Promotions Manager3,240 PAB+20%
Exhibit Display Coordinator1,630 PAB-40%
Exhibit Display Manager2,110 PAB-22%
Finisher1,070 PAB-60%
Graphic Artist1,340 PAB-50%
Graphic Designer1,260 PAB-53%
Graphics Design Supervisor1,730 PAB-36%
Imagery Analyst1,160 PAB-57%
Imaging Technologist1,240 PAB-54%
Interaction Designer1,070 PAB-60%
Media Planner1,760 PAB-35%
Media Production Coordinator1,550 PAB-43%
Media Production Manager2,710 PAB+0%
Media Project Manager2,760 PAB+2%
Media Relations Representative2,220 PAB-18%
Media Sales Executive2,620 PAB-3%
Multimedia Specialist1,240 PAB-54%
Photographer1,150 PAB-58%
PPC Campaign Manager2,030 PAB-25%
Print Production Manager2,190 PAB-19%
Product and Brand Manager3,370 PAB+25%
Sales Promotion Manager3,340 PAB+23%
Sketch Artist1,420 PAB-48%
Social Media Executive2,540 PAB-6%
Technical Typist950 PAB-65%
User Experience UX Designer1,360 PAB-50%
UX Designer1,260 PAB-53%

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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