Average Air Conditioning Technician Salary in Panama for 2024

In this article, we will look at the average Air Conditioning Technician salary for 2024 in Panama and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Panamanian balboa. To keep things simple, we are using the PAB currency code instead of the currency symbol B/..

How Much Does an Air Conditioning Technician Make in Panama?

An Air Conditioning Technician working in Panama will typically earn around 6,760 PAB per year, and this can range from the lowest average salary of about 1,460 PAB to the highest average salary of 10,220 PAB.

These are average salaries for an Air Conditioning Technician in Panama and include benefits such as housing and transport. It's also possible for an Air Conditioning Technician to earn more or less than the average salaries shown above.

Air Conditioning Technician salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Air Conditioning Technician Salaries in Panama

So we've looked at the average salaries an Air Conditioning Technician will earn in Panama. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Air Conditioning Technician can earn between 1,460 PAB and 10,220 PAB on average in Panama. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Air Conditioning Technician in Panama is 6,200 PAB. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 6,200 PAB, and 50% of the population earn more than 6,200 PAB.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Air Conditioning Technician salary in Panama, 25% of the population are earning less than 6,300 PAB while 75% of the population earn more than 6,300 PAB.

75% of the population earn less than 8,560 PAB, and 25% of the population earn more than 8,560 PAB.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

Air Conditioning Technician Salary by Experience Level in Panama

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average air conditioning technician salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

• 0 - 2 Years Experience. An Air Conditioning Technician in Panama that has less than two years of experience can expect to earn somewhere in the region of 4,440 PAB.
• 2 - 5 Years Experience. With two to five years of experience the average Air Conditioning Technician salary would increase to 5,720 PAB.
• 5 - 10 Years Experience. From five to ten years of experience as an Air Conditioning Technician, the average salary would be 6,200 PAB.
• 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 7,080 PAB.
• 15 - 20 Years Experience. An Air Conditioning Technician with 15 to 20 years of experience can earn an average of 10,380 PAB.
• 20+ Years Experience. For an Air Conditioning Technician with more than 20 years, the expected average salary increases to 12,020 PAB.

Average Salary by Experience Chart

Air Conditioning Technician Salary by Education Level in Panama

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Air Conditioning Technician in Panama based on the education level of the employees in order to find out whether a better education level would increase your salary.

• High School. An Air Conditioning Technician in Panama with a high school education can earn an average salary of 6,300 PAB.

• Certificate or Diploma. An Air Conditioning Technician in Panama with a certificate or diploma education can earn an average salary of 6,080 PAB.

• Bachelor's Degree. An Air Conditioning Technician in Panama with a bachelor's degree education can earn an average salary of 10,380 PAB.

Average Salary by Education Chart

Air Conditioning Technician Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Panama, a male air conditioning technician will earn an average of 6,200 PAB, while a female air conditioning technician will earn around 5,520 PAB.

This means that a male air conditioning technician earns approximately 12% more than a female air conditioning technician for performing the same job.

Average Salary by Gender Chart in Panama

Air Conditioning Technician Average Pay Raise in Panama

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Air Conditioning Technician in Panama is around 7% every 20 months.

The national average pay raise across all professions and industries in Panama is around 7% every 19 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 7 ÷ 20 ) × 12  = 4%

What this means is that an Air Conditioning Technician in Panama can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Panama for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Panama.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Air Conditioning Technician Bonus and Incentive Rates in Panama

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Air Conditioning Technician is a low bonus based job, with 29% of employees reporting at least one bonus in the last 12 months.

71% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 0% to 4%.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Panama earn approximately 4% more than private sector employees in the same role.

Salaries for Jobs Similar to an Air Conditioning Technician

In the table below, we have salary information for jobs that are similar to an Air Conditioning Technician in Panama.

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