Average Document Analyst Salary in Panama for 2024

In this article, we will look at the average Document Analyst 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 Document Analyst Make in Panama?

A Document Analyst working in Panama will typically earn around 13,900 PAB per year, and this can range from the lowest average salary of about 5,200 PAB to the highest average salary of 21,020 PAB.

Average Annual Salary
13,900 PAB
Average Monthly Salary
1,158 PAB

Lowest Annual Salary
5,200 PAB
Lowest Monthly Salary
433 PAB

Highest Annual Salary
21,020 PAB
Highest Monthly Salary
1,751 PAB

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

Document Analyst 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 Document Analyst Salaries in Panama

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

Salary ranges

We already know that a Document Analyst can earn between 5,200 PAB and 21,020 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 Document Analyst in Panama is 13,900 PAB. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 13,900 PAB, and 50% of the population earn more than 13,900 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 Document Analyst salary in Panama, 25% of the population are earning less than 7,080 PAB while 75% of the population earn more than 7,080 PAB.

75% of the population earn less than 15,300 PAB, and 25% of the population earn more than 15,300 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.

Document Analyst 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 document analyst 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 Document Analyst in Panama that has less than two years of experience can expect to earn somewhere in the region of 8,420 PAB.
  • 2 - 5 Years Experience. With two to five years of experience the average Document Analyst salary would increase to 9,960 PAB.
  • 5 - 10 Years Experience. From five to ten years of experience as a Document Analyst, the average salary would be 12,240 PAB.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 15,300 PAB.
  • 15 - 20 Years Experience. A Document Analyst with 15 to 20 years of experience can earn an average of 19,220 PAB.
  • 20+ Years Experience. For a Document Analyst with more than 20 years, the expected average salary increases to 18,940 PAB.

Average Salary by Experience Chart

0-2 Years
8,420 PAB
2-5 Years +32%
9,960 PAB
5-10 Years +34%
12,240 PAB
10-15 Years +19%
15,300 PAB
15-20 Years +8%
19,220 PAB
20+ Years +7%
18,940 PAB

Document Analyst 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 Document Analyst in Panama based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. A Document Analyst in Panama with a certificate or diploma education can earn an average salary of 13,660 PAB.

  • Bachelor's Degree. A Document Analyst in Panama with a bachelor's degree education can earn an average salary of 19,640 PAB.

Average Salary by Education Chart

Certificate or Diploma
13,660 PAB
Bachelor's Degree +55%
19,640 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.

Document Analyst 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 document analyst will earn an average of 13,960 PAB, while a female document analyst will earn around 13,540 PAB.

This means that a male document analyst earns approximately 3% more than a female document analyst for performing the same job.

Average Salary by Gender Chart in Panama

Male
13,960 PAB
Female -3%
13,540 PAB

Document Analyst 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 Document Analyst in Panama is around 8% every 19 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 = ( 8 ÷ 19 ) × 12  = 5%

What this means is that a Document Analyst in Panama can expect to receive an average pay raise of around 5% 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%

Document Analyst 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 Document Analyst is a low bonus based job, with 27% of employees reporting at least one bonus in the last 12 months.

73% 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 3%.

Received Bonus
27%
No Bonus
73%

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 Document Analyst

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

Job Title Category Salary
Approval Team Manager Quality Control and Compliance 31,540 PAB
Assistant Quality Manager Quality Control and Compliance 26,100 PAB
Compliance Officer Quality Control and Compliance 15,880 PAB
Document Control Officer Quality Control and Compliance 12,620 PAB
Document Control Specialist Quality Control and Compliance 11,880 PAB
HACCP Coordinator Quality Control and Compliance 13,560 PAB
Inspection Supervisor Quality Control and Compliance 25,680 PAB
Internal Compliance Officer Quality Control and Compliance 17,020 PAB
Product Complaints Associate Quality Control and Compliance 14,820 PAB
Product Owner Quality Control and Compliance 26,080 PAB
Product Quality Leader Quality Control and Compliance 28,660 PAB
QMS Coordinator Quality Control and Compliance 16,400 PAB
Quality and Safety Site Leader Quality Control and Compliance 27,480 PAB
Quality Assurance Administrator Quality Control and Compliance 25,680 PAB
Quality Assurance Analyst Quality Control and Compliance 27,560 PAB
Quality Assurance Associate Quality Control and Compliance 18,260 PAB
Quality Assurance Auditor Quality Control and Compliance 23,660 PAB
Quality Assurance Document Control Quality Control and Compliance 13,660 PAB
Quality Assurance Engineer Quality Control and Compliance 13,100 PAB
Quality Assurance Executive Quality Control and Compliance 38,260 PAB
Quality Assurance Inspector Quality Control and Compliance 24,820 PAB
Quality Assurance Manager Quality Control and Compliance 41,660 PAB
Quality Assurance Specialist Quality Control and Compliance 23,260 PAB
Quality Assurance Supervisor Quality Control and Compliance 27,480 PAB
Quality Assurance Technician Quality Control and Compliance 12,580 PAB
Quality Assurance Tester Quality Control and Compliance 12,620 PAB
Quality Control Analyst Quality Control and Compliance 23,080 PAB
Quality Control and Compliance Officer Quality Control and Compliance 14,540 PAB
Quality Control and Quality Assurance Officer Quality Control and Compliance 19,200 PAB
Quality Control Auditor Quality Control and Compliance 23,520 PAB
Quality Control Chemist Quality Control and Compliance 27,620 PAB
Quality Control Coordinator Quality Control and Compliance 15,300 PAB
Quality Control Engineer Quality Control and Compliance 14,660 PAB
Quality Control Executive Quality Control and Compliance 37,740 PAB
Quality Control Manager Quality Control and Compliance 38,780 PAB
Quality Control Supervisor Quality Control and Compliance 27,020 PAB
Quality Control Technician Quality Control and Compliance 12,580 PAB
Quality Data Analyst Quality Control and Compliance 23,660 PAB
Quality Director Quality Control and Compliance 42,320 PAB
Quality Engineer Quality Control and Compliance 13,100 PAB
Quality Executive Quality Control and Compliance 31,400 PAB
Quality Improvement Coordinator Quality Control and Compliance 17,560 PAB
Quality Management Officer Quality Control and Compliance 14,820 PAB
Quality Manager Quality Control and Compliance 38,780 PAB
Quality Surveyor Quality Control and Compliance 20,760 PAB
Quality Trainer Quality Control and Compliance 25,720 PAB
Six Sigma Black Belt Quality Control and Compliance 32,900 PAB

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