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Salaries

Panama - Salaries


The system of minimum wage in Panama divides the country into two geographic areas and is defined by the type of job that you do. Region 1 covers the areas of Panama City, Colon, David, San Miguelito, Chitre, Penonome, Bocas de Toro, Chorrera, Arraijan and Agadulce. Region 2 covers any area not mentioned for region 1. The minimum wage is also calculated by the hour and the size of company that you work for. For the purposes of the minimum wage system a small business is defined as having less than 10 permanent members of staff, 15 for manufacturing companies and 20 in an agricultural business.

Salaries for domestic staff are based on a yearly rate. Those who are working within Region 1 can expect a minimum salary of $160 per year while those in Region 2 can earn a minimum of $145 per year.

Those working within the agriculture sector can expect different salaries depending upon the type of work that they do. Those who work in cattle farming in either region can earn $1.06 per hour if they are in a small business and $1.24 per hour in a larger business. The latter also applies to those who are working in an operation which breeds farmyard birds. Those who work in fishing can expect to earn $1.50 per hour in both regions if they are working in handmade fishing. More industrial operations will pay from $1.56 in both regions.

If you are working in a mining industry in either region you can expect to earn a minimum of $1.81. Those who work in a small manufacturing business in region 1 can expect a minimum wage of $1.53 and in region 2 a figure of $1.28. Large manufacturing businesses in region 1 must pay $1.81 while region 2 will pay $1.50. Those in the manufacture of alcoholic drinks can earn $1.81 in region 1 and £1.52 in region 2. The same rates apply to the manufacture of paints and similar products and the repair of machinery. If you are in the production of cement you can earn £2.00 in region 1 and $1.81 in region 2.

Those working in utilities industries can earn $2.00 per hour in both regions while those who are working in construction can earn $2.00 in region 1 and $1.90 in region 2. If you are working in wholesale supplies you can earn $1.81 in region 1 and $1.49 in region 2. The same rates apply to those working for import agencies. If you are working in one of the special economic zones you can earn $2.00 in region 1 and $1.49 in region 2.

Those in a small business in the retail sector can expect to earn $1.51 in region 1 and $1.26 in region 2. A larger retail business, supermarkets and those working for a gas station chain can expect to earn a minimum of $1.81 in region 1 and $1.49 in region 2. Staff working at a small hotel in region 1 can earn from $1.55 per hour and $1.29 in region 2. Large hotels and resort hotels must pay a minimum of $1.81 in region 1 and $1.49 in region 2. Staff working in a small restaurant can earn $1.53 in region 1 and $1.28 in region 2. Larger restaurants must pay a minimum of $1.81 in region 1 and $1.49 in region 2.

Transportation workers in region 1 can earn a minimum of $1.81 an hour and in region 2 $1.49 an hour. The same rates apply to those working in cargo transport and any aerial transport related to commercial activities. Port workers enjoy a higher rate of pay at $2.00 in both regions and the same rate is applied to those working at international airports.

Workers in the warehousing sector and mail deliveries will earn a minimum of $1.81 per hour in region 1 and $1.49 per hour in region 2. Telecommunications workers will earn a minimum of $2.00 per hour in both regions. Financial workers in any part of the sector will earn a minimum of $2.00 per hour in both regions. Real estate workers can earn $2.00 in region 1 and $1.82 in region 2.

Journalists will earn $2.00 in both regions while those working in other leisure industries such as health clubs, casinos, spas and gyms can earn $2.00 per hour in region 1 and from $1.49 in region 2.

When compared to other countries such as the US and the UK, Panama’s rates of pay are very low. Those who are moving to the country to work will need another form of income if they are looking to have more than a basic standard of living.


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Expat Health Insurance Partners


Aetna

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