Panamanians want to have an average salary of $1,056

Report on the labor market in Panama for May 2023, prepared by Konzerta, shows that the expected average salary for that month was $1,056, an increase of 1.68% compared to April.

According to the report, in May, women’s applications were higher than men’s applications. However, for the boss/in-charge level, the amount of male applications it was much older.

Konzert points out that the average salary of men decreased by 2.88 percent in the past month, while it remained stable for women with a slight increase of 0.39 percent.

“The required salary for men is 1.46% higher than for women. Men in Panama require an average salary of $1,044 per month, while women want $1,029,” the report said.

As for the segments, seniority of the principal or superior, the highest paying position is construction at $3,000.

In the senior/semi-senior segment, foreign trade applications see the highest salary demand at $2,800, and in the junior segment, the planning position is the one that sees the highest aspiration at $1,600.

While in the younger segment, candidates for maintenance and janitorial services are the ones seeking the lowest salary of $575.

For the month of May, in addition, applications by gender highlight a higher number of female aspirations with 52.63% compared to men with 47.37%.

Female applications retain the increment for junior and senior/semi-senior seniority. However, there are more male applications for the position of chief, the difference reaches almost 19%.

“The report on the labor market for the month of May showed an increase in the number of applications received by women, however, the participation of women decreases as the length of service increases, as is perceived for management positions. The sectors with the greatest applications remain in the areas of commerce, administration and finance,” said María Alejandra Cruz, head of Konzert.

The commercial area received the most applications, 30% of the total number, followed by the administrative area with 26.7%. While human resources (4.6%), technology and systems (1.2%) and marketing (3%) are the areas with the least application.