Average Country Manager Salary in Panama for 2024

In this article, we will look at the average Country Manager 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 a Country Manager Make in Panama?

A Country Manager working in Panama will typically earn around 44,140 PAB per year, and this can range from the lowest average salary of about 24,840 PAB to the highest average salary of 65,800 PAB.

Average Annual Salary
44,140 PAB
Average Monthly Salary
3,678 PAB

Lowest Annual Salary
24,840 PAB
Lowest Monthly Salary
2,070 PAB

Highest Annual Salary
65,800 PAB
Highest Monthly Salary
5,483 PAB

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

Country Manager 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 Country Manager Salaries in Panama

So we've looked at the average salaries a Country Manager will earn in Panama. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Country Manager can earn between 24,840 PAB and 65,800 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 a Country Manager in Panama is 41,900 PAB. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 41,900 PAB, and 50% of the population earn more than 41,900 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 Country Manager salary in Panama, 25% of the population are earning less than 28,900 PAB while 75% of the population earn more than 28,900 PAB.

75% of the population earn less than 51,080 PAB, and 25% of the population earn more than 51,080 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.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Country Manager 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 country manager 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. A Country Manager in Panama that has less than two years of experience can expect to earn somewhere in the region of 25,720 PAB.
  • 2 - 5 Years Experience. With two to five years of experience the average Country Manager salary would increase to 31,520 PAB.
  • 5 - 10 Years Experience. From five to ten years of experience as a Country Manager, the average salary would be 47,180 PAB.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 54,460 PAB.
  • 15 - 20 Years Experience. A Country Manager with 15 to 20 years of experience can earn an average of 57,860 PAB.
  • 20+ Years Experience. For a Country Manager with more than 20 years, the expected average salary increases to 64,040 PAB.

Average Salary by Experience Chart

0-2 Years
25,720 PAB
2-5 Years +23%
31,520 PAB
5-10 Years +42%
47,180 PAB
10-15 Years +17%
54,460 PAB
15-20 Years +10%
57,860 PAB
20+ Years +6%
64,040 PAB

Country Manager 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 a Country Manager 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. A Country Manager in Panama with a high school education can earn an average salary of 33,440 PAB.

  • Certificate or Diploma. A Country Manager in Panama with a certificate or diploma education can earn an average salary of 35,260 PAB.

  • Bachelor's Degree. A Country Manager in Panama with a bachelor's degree education can earn an average salary of 45,720 PAB.

  • Master's Degree. A Country Manager in Panama with a master's degree education can earn an average salary of 64,040 PAB.

Average Salary by Education Chart

High School
33,440 PAB
Certificate or Diploma +13%
35,260 PAB
Bachelor's Degree +31%
45,720 PAB
Master's Degree +32%
64,040 PAB

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Panama is around 10,600 to 31,800 PAB and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Country Manager 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 country manager will earn an average of 46,400 PAB, while a female country manager will earn around 42,460 PAB.

This means that a male country manager earns approximately 9% more than a female country manager for performing the same job.

Average Salary by Gender Chart in Panama

Male
46,400 PAB
Female -9%
42,460 PAB

Country Manager 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 a Country Manager in Panama is around 12% every 18 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 = ( 12 ÷ 18 ) × 12  = 8%

What this means is that a Country Manager in Panama can expect to receive an average pay raise of around 8% 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.

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Country Manager 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.

A Country Manager is a high bonus based job, with 77% of employees reporting at least one bonus in the last 12 months.

23% 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 6% to 8%.

Received Bonus
77%
No Bonus
23%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

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.

Public Sector
27,040 PAB
Private Sector -4%
26,020 PAB

Salaries for Jobs Similar to a Country Manager

In the table below, we have salary information for jobs that are similar to a Country Manager in Panama.

Job Title Category Salary
Account Coordinator Executive and Management 24,820 PAB
Account Director Executive and Management 27,480 PAB
Account Executive Executive and Management 31,540 PAB
Account Manager Executive and Management 27,620 PAB
Administration Manager Executive and Management 30,840 PAB
Administration Officer Executive and Management 13,100 PAB
Administration Supervisor Executive and Management 21,980 PAB
Administrative Clerk Executive and Management 12,520 PAB
Administrative Officer Executive and Management 9,940 PAB
Area Director Executive and Management 25,720 PAB
Area Manager Executive and Management 25,940 PAB
Asset Protection Associate Executive and Management 32,200 PAB
Assistant Director Executive and Management 26,280 PAB
Assistant General Manager Executive and Management 29,600 PAB
Assistant Manager Executive and Management 31,180 PAB
Assistant Managing Director Executive and Management 35,560 PAB
Assistant Operations Manager Executive and Management 29,160 PAB
Assistant Project Manager Executive and Management 26,280 PAB
Assistant Section Head Executive and Management 25,220 PAB
Assistant to CEO Executive and Management 28,180 PAB
Assistant Vice President Executive and Management 31,380 PAB
Associate Account Director Executive and Management 30,800 PAB
Associate Director Executive and Management 30,840 PAB
Bid Manager Executive and Management 34,960 PAB
Branch Manager Executive and Management 31,340 PAB
Business Development Manager Executive and Management 36,160 PAB
Business Operations Associate Executive and Management 32,020 PAB
Business Operations Lead Executive and Management 32,020 PAB
Campaign Manager Executive and Management 33,120 PAB
Catering Coordinator Executive and Management 17,760 PAB
Catering Manager Executive and Management 30,700 PAB
CEO Executive and Management 54,180 PAB
Chairman of The Board Executive and Management 53,160 PAB
Chairman Office Manager Executive and Management 34,960 PAB
Chief Commercial Officer Executive and Management 41,560 PAB
Chief Corporate Officer Executive and Management 43,080 PAB
Chief Executive Officer Executive and Management 53,660 PAB
Chief Financial Officer Executive and Management 52,180 PAB
Chief Investment Officer Executive and Management 44,300 PAB
Chief of Staff Executive and Management 25,440 PAB
Chief Operating Officer Executive and Management 43,220 PAB
Chief Risk Officer Executive and Management 37,620 PAB
Client Account Manager Executive and Management 35,520 PAB
Client Accounts Officer Executive and Management 29,840 PAB
Client Services Manager Executive and Management 35,000 PAB
Commercial Director Executive and Management 36,700 PAB
Commercial Manager Executive and Management 31,040 PAB
Commercial Project Manager Executive and Management 28,680 PAB
Commodity Broker Executive and Management 23,260 PAB
COO Executive and Management 44,800 PAB
Corporate Affairs Executive Executive and Management 33,520 PAB
Corporate Compliance Director Executive and Management 36,160 PAB
Corporate Director Executive and Management 35,260 PAB
Corporate Officer Executive and Management 25,940 PAB
Corporate Partnerships Officer Executive and Management 26,500 PAB
Department Head Executive and Management 35,300 PAB
Department Manager Executive and Management 32,420 PAB
Department Supervisor Executive and Management 26,400 PAB
Deputy Director Executive and Management 41,700 PAB
Deputy Manager Executive and Management 38,780 PAB
Director Executive and Management 43,360 PAB
Director of Accreditation Executive and Management 38,180 PAB
Director of Catering Services Executive and Management 31,180 PAB
Director of Client Services Executive and Management 38,180 PAB
Director of Facilities Management Executive and Management 31,380 PAB
Director of Operations Executive and Management 38,680 PAB
Director of Process Simplification Executive and Management 26,400 PAB
Director of Product Management Executive and Management 38,260 PAB
Director of Project Management Executive and Management 39,080 PAB
Director of Revenue Management Executive and Management 32,900 PAB
Director of Training and Development Executive and Management 34,480 PAB
Distribution Manager Executive and Management 39,800 PAB
Division Manager Executive and Management 34,540 PAB
Duty Manager Executive and Management 29,600 PAB
Engagement Manager Executive and Management 39,800 PAB
Executive Director Executive and Management 53,160 PAB
Executive Manager Executive and Management 44,140 PAB
Franchise Manager Executive and Management 48,200 PAB
General Manager Executive and Management 42,320 PAB
Global Master Data Manager Executive and Management 36,580 PAB
Global Technical Lead Executive and Management 24,800 PAB
Head of Investment Executive and Management 40,140 PAB
Head of Middle Office Executive and Management 35,560 PAB
Head of Projects Executive and Management 35,420 PAB
Head of Strategy Executive and Management 41,820 PAB
Head of Supply Chain Executive and Management 35,300 PAB
Head of Sustainability Executive and Management 31,660 PAB
Housing Manager Executive and Management 29,160 PAB
HSE Manager Executive and Management 32,960 PAB
Key Account Manager Executive and Management 29,640 PAB
Knowledge Manager Executive and Management 38,140 PAB
Location Manager Executive and Management 35,340 PAB
Logistics Executive Executive and Management 27,480 PAB
Logistics Manager Executive and Management 26,280 PAB
Management Consultant Executive and Management 32,020 PAB
Management Executive Executive and Management 40,140 PAB
Manager Executive and Management 35,420 PAB
Managing Director Executive and Management 45,580 PAB
MIS Executive Executive and Management 38,680 PAB
Ocean Services Manager Executive and Management 40,140 PAB
Operational Manager Executive and Management 36,020 PAB
Operations Analyst Executive and Management 31,040 PAB
Operations Assistant Executive and Management 28,660 PAB
Operations Director Executive and Management 42,320 PAB
Operations Executive Executive and Management 41,660 PAB
Operations Manager Executive and Management 39,420 PAB
Operations Supervisor Executive and Management 35,000 PAB
Planning Director Executive and Management 37,380 PAB
PMO Manager Executive and Management 34,160 PAB
Policy Administration Executive Executive and Management 31,340 PAB
Private Sector Executive Executive and Management 32,620 PAB
Product Development Manager Executive and Management 37,740 PAB
Product Executive Executive and Management 33,960 PAB
Production Executive Executive and Management 37,800 PAB
Production Manager Executive and Management 38,680 PAB
Production Supervisor Executive and Management 31,980 PAB
Program Director Executive and Management 36,020 PAB
Program Manager Executive and Management 38,260 PAB
Programme Coordinator Executive and Management 25,160 PAB
Project Control Manager Executive and Management 37,740 PAB
Project Coordinator Executive and Management 21,980 PAB
Project Management Officer Executive and Management 25,160 PAB
Project Manager Executive and Management 27,620 PAB
Project Portfolio Manager Executive and Management 26,860 PAB
Quality Manager Executive and Management 28,900 PAB
R/D Director Executive and Management 34,980 PAB
Regional Director Executive and Management 50,540 PAB
Regional Manager Executive and Management 36,700 PAB
Relationship Manager Executive and Management 36,800 PAB
Retail District Manager Executive and Management 25,440 PAB
Revenue Manager Executive and Management 31,660 PAB
Risk and Capital Manager Executive and Management 38,780 PAB
Risk Officer Executive and Management 30,840 PAB
Safety Manager Executive and Management 28,900 PAB
Section Head Executive and Management 30,840 PAB
Service Manager Executive and Management 31,660 PAB
Shift Supervisor Executive and Management 20,760 PAB
Solutions Manager Executive and Management 29,040 PAB
Supervisor Executive and Management 23,380 PAB
Supply Chain Manager Executive and Management 39,960 PAB
Surveyor Executive and Management 27,300 PAB
Technical Director Executive and Management 35,520 PAB
Technical Manager Executive and Management 35,340 PAB
Territory Manager Executive and Management 36,700 PAB
Validation Manager Executive and Management 33,440 PAB
Vice President Executive and Management 45,000 PAB
Zone Manager Executive and Management 36,720 PAB

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