Average Salary in Panama 2026

The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average +30% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average +31% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by +18% and an additional +20% for those who have crossed the 15 years mark.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.

Workers with a certificate or diploma earn on average +17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn +43% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are +20% more than those with a Bachelor's Degree.

Finally, PhD holders earn +17% more than Master's Degree holders on average.