Average Estimator Salary in Panama for 2024

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

An Estimator working in Panama will typically earn around 19,860 PAB per year, and this can range from the lowest average salary of about 9,440 PAB to the highest average salary of 31,940 PAB.

Average Annual Salary
19,860 PAB
Average Monthly Salary
1,655 PAB

Lowest Annual Salary
9,440 PAB
Lowest Monthly Salary
786 PAB

Highest Annual Salary
31,940 PAB
Highest Monthly Salary
2,661 PAB

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

Estimator 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 Estimator Salaries in Panama

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

Salary ranges

We already know that an Estimator can earn between 9,440 PAB and 31,940 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 Estimator in Panama is 19,060 PAB. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 19,060 PAB, and 50% of the population earn more than 19,060 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 Estimator salary in Panama, 25% of the population are earning less than 14,540 PAB while 75% of the population earn more than 14,540 PAB.

75% of the population earn less than 26,660 PAB, and 25% of the population earn more than 26,660 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.

Estimator 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 estimator 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 Estimator in Panama that has less than two years of experience can expect to earn somewhere in the region of 9,960 PAB.
  • 2 - 5 Years Experience. With two to five years of experience the average Estimator salary would increase to 14,840 PAB.
  • 5 - 10 Years Experience. From five to ten years of experience as an Estimator, the average salary would be 19,060 PAB.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 27,020 PAB.
  • 15 - 20 Years Experience. An Estimator with 15 to 20 years of experience can earn an average of 25,660 PAB.
  • 20+ Years Experience. For an Estimator with more than 20 years, the expected average salary increases to 27,560 PAB.

Average Salary by Experience Chart

0-2 Years
9,960 PAB
2-5 Years +38%
14,840 PAB
5-10 Years +42%
19,060 PAB
10-15 Years +22%
27,020 PAB
15-20 Years +6%
25,660 PAB
20+ Years +9%
27,560 PAB

Estimator 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 Estimator 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. An Estimator in Panama with a certificate or diploma education can earn an average salary of 13,700 PAB.

  • Bachelor's Degree. An Estimator in Panama with a bachelor's degree education can earn an average salary of 21,540 PAB.

  • Master's Degree. An Estimator in Panama with a master's degree education can earn an average salary of 29,540 PAB.

Average Salary by Education Chart

Certificate or Diploma
13,700 PAB
Bachelor's Degree +58%
21,540 PAB
Master's Degree +39%
29,540 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.

Estimator 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 estimator will earn an average of 21,020 PAB, while a female estimator will earn around 20,120 PAB.

This means that a male estimator earns approximately 4% more than a female estimator for performing the same job.

Average Salary by Gender Chart in Panama

Male
21,020 PAB
Female -4%
20,120 PAB

Estimator 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 Estimator in Panama is around 9% 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 = ( 9 ÷ 19 ) × 12  = 6%

What this means is that an Estimator in Panama can expect to receive an average pay raise of around 6% 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%

Estimator 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 Estimator is a low bonus based job, with 31% of employees reporting at least one bonus in the last 12 months.

69% 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%.

Received Bonus
31%
No Bonus
69%

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 an Estimator

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

Job Title Category Salary
Acoustics Engineer Engineering 21,020 PAB
Assembly Engineering Technician Engineering 16,720 PAB
Assistant Chief Engineer Engineering 23,660 PAB
Associate Engineer Engineering 18,280 PAB
AutoCAD Drafter Engineering 13,780 PAB
Autocad Operator Engineering 12,000 PAB
Automation Engineer Engineering 22,660 PAB
Automation Engineer Engineering 23,260 PAB
Avionic System Support Engineer Engineering 19,380 PAB
Biochemical Engineer Engineering 21,400 PAB
BMS Engineer Engineering 19,060 PAB
Bridge and Lock Tender Engineering 12,520 PAB
Broadcast Engineer Engineering 20,760 PAB
CAD Design Engineer Engineering 22,660 PAB
CAD Designer Engineering 13,960 PAB
CAE Engineer Engineering 20,940 PAB
Ceramics Engineer Engineering 19,060 PAB
Chemical Engineer Engineering 22,540 PAB
Civil Drafter Engineering 14,540 PAB
Civil Engineer Engineering 21,980 PAB
Civil Site Engineer Engineering 22,340 PAB
Civil Technician Engineering 14,540 PAB
Commissioning Engineer Engineering 21,400 PAB
Communications Engineer Engineering 25,220 PAB
Condition Monitoring Engineer Engineering 17,760 PAB
Contract Associate Engineer Engineering 21,560 PAB
Contract Engineer Engineering 19,060 PAB
Control Systems Engineer Engineering 19,060 PAB
Controls Engineer Engineering 23,400 PAB
Controls Software Engineer Engineering 20,520 PAB
Corrosion Engineer Engineering 19,160 PAB
Design Engineer Engineering 19,940 PAB
Director of Engineering Engineering 44,540 PAB
Drafter Engineering 12,580 PAB
Drafting Manager Engineering 25,940 PAB
Drilling Engineer Engineering 23,400 PAB
Drilling Foreman Engineering 5,520 PAB
Electrical Draughtsman Engineering 10,220 PAB
Electrical Engineer Engineering 23,140 PAB
Electrical Engineering Manager Engineering 30,220 PAB
Electromechanical Engineering Technologist Engineering 25,220 PAB
Electromechanical Equipment Assembler Engineering 10,000 PAB
Energy Engineer Engineering 20,760 PAB
Engine Assembler Engineering 10,380 PAB
Engineer Engineering 25,220 PAB
Engineering Account Manager Engineering 26,020 PAB
Engineering Chief Designer Engineering 24,720 PAB
Engineering Consultant Engineering 29,320 PAB
Engineering Key Account Manager Engineering 31,520 PAB
Engineering Lab Technician Engineering 21,020 PAB
Engineering Manager Engineering 31,380 PAB
Engineering Planning Manager Engineering 31,340 PAB
Engineering Production Manager Engineering 37,740 PAB
Engineering Project Analyst Engineering 27,020 PAB
Engineering Project Coordinator Engineering 23,140 PAB
Engineering Project Director Engineering 45,580 PAB
Engineering Project Leader Engineering 27,020 PAB
Engineering Project Manager Engineering 31,380 PAB
Engineering Research and Development Manager Engineering 34,540 PAB
Engineering Safety Coordinator Engineering 18,260 PAB
Engineering Sales Manager Engineering 30,800 PAB
Engineering Technician Engineering 17,560 PAB
Engineering Technologist Engineering 17,620 PAB
Environmental Engineer Engineering 23,520 PAB
Equipment Engineer Engineering 19,860 PAB
Equipment Engineering Manager Engineering 32,020 PAB
Fabrication Specialist Engineering 16,880 PAB
Fabricator Engineering 9,460 PAB
Facade Engineer Engineering 23,520 PAB
Fiber Analyst Engineering 13,780 PAB
Field Engineer Engineering 24,840 PAB
Field Engineering Manager Engineering 37,620 PAB
Fire Engineer Engineering 23,400 PAB
Fitter and Turner Engineering 8,440 PAB
Forestry Strategic Planner Engineering 25,680 PAB
Generation Engineer Engineering 20,460 PAB
Genetic Engineer Engineering 23,480 PAB
Geological Engineer Engineering 22,420 PAB
Geotechnical Engineer Engineering 23,260 PAB
Heavy Equipment Mechanic Engineering 12,200 PAB
Highway Engineer Engineering 23,380 PAB
HSE Professional Engineering 21,540 PAB
HVAC Engineer Engineering 21,300 PAB
HVAC Supervisor Engineering 18,280 PAB
Industrial Engineer Engineering 23,380 PAB
Industrial Engineering Technologist Engineering 21,020 PAB
Instrument Engineer Engineering 23,520 PAB
Instrument Technician Engineering 9,940 PAB
Instrumentation and Control Engineer Engineering 22,420 PAB
Instrumentation Designer Engineering 16,980 PAB
Instrumentation Engineer Engineering 22,540 PAB
Instrumentation Manager Engineering 21,380 PAB
Irrigation Engineer Engineering 19,980 PAB
Licensed Aircraft Engineer Engineering 23,140 PAB
Locomotive Engineer Engineering 19,980 PAB
Maintenance Engineer Engineering 19,160 PAB
Maintenance Fitter Engineering 6,440 PAB
Maintenance Manager Engineering 21,020 PAB
Manufacturing Engineer Engineering 23,380 PAB
Marine Engineer Engineering 22,420 PAB
Materials Engineer Engineering 21,400 PAB
Materials Researcher Engineering 19,860 PAB
Materials Technician Engineering 16,880 PAB
Mechanical and Electrical Engineer Engineering 26,020 PAB
Mechanical Design Engineer Engineering 24,280 PAB
Mechanical Designer Engineering 19,640 PAB
Mechanical Engineer Engineering 23,080 PAB
Mechanical Engineering Manager Engineering 29,600 PAB
Mechanical Inspector Engineering 20,000 PAB
Mechatronics Engineer Engineering 22,660 PAB
Mining Engineer Engineering 22,540 PAB
Oil and Petrochemical Engineer Engineering 25,680 PAB
Optical Engineer Engineering 19,980 PAB
Optical Instrument Assembler Engineering 12,300 PAB
PCB Assembler Engineering 8,420 PAB
Photonics Engineer Engineering 22,340 PAB
Photonics Technician Engineering 20,940 PAB
Pipeline Engineer Engineering 18,900 PAB
Piping Designer Engineering 11,040 PAB
Piping Engineer Engineering 20,520 PAB
Planning Engineer Engineering 23,400 PAB
Pressure Vessel Inspector Engineering 9,460 PAB
Principal Cost Engineer Engineering 22,660 PAB
Principal Engineer Engineering 22,420 PAB
Principal Support Engineer Engineering 20,000 PAB
Process Engineer Engineering 20,460 PAB
Process Operator Engineering 13,960 PAB
Product Development Engineer Engineering 22,420 PAB
Product Development Technician Engineering 18,260 PAB
Product Engineer Engineering 23,480 PAB
Product Safety Engineer Engineering 21,020 PAB
Production Engineer Engineering 19,940 PAB
Project Engineer Engineering 24,820 PAB
Proposal Manager Engineering 27,480 PAB
Purchasing Engineer Engineering 20,520 PAB
Quality Assurance Engineer Engineering 21,640 PAB
Rail Engineer Engineering 22,660 PAB
Regional Field Engineer Engineering 23,140 PAB
Robotics Engineer Engineering 25,220 PAB
Robotics Technician Engineering 20,120 PAB
Safety Engineer Engineering 23,400 PAB
Safety Inspector Engineering 15,300 PAB
Safety Manager Engineering 25,720 PAB
Safety Officer Engineering 12,520 PAB
Sales Engineer Engineering 24,280 PAB
Scheduling Engineer Engineering 19,480 PAB
Service Engineer Engineering 21,300 PAB
Solar Engineer Engineering 23,660 PAB
Staff Engineer Engineering 19,940 PAB
Static Equipment Engineer Engineering 23,400 PAB
Stationary Engineer Engineering 19,160 PAB
Stress Engineer Engineering 21,560 PAB
Structural Analysis Engineer Engineering 19,940 PAB
Structural Designer Engineering 19,480 PAB
Structural Engineer Engineering 21,020 PAB
Structural Technician Engineering 14,660 PAB
Supply Chain Specialist Engineering 20,460 PAB
Surveyor Engineering 16,720 PAB
Technical Affairs Officer Engineering 12,760 PAB
Technical Assistant Engineering 12,760 PAB
Technical Engineer Engineering 19,020 PAB
Technical Support Engineer Engineering 17,760 PAB
Tender Engineer Engineering 20,500 PAB
Test Development Engineer Engineering 21,400 PAB
Test Engineer Engineering 21,400 PAB
Transportation Engineer Engineering 21,100 PAB
Validation Engineer Engineering 18,940 PAB
Verification Engineer Engineering 21,640 PAB
Wastewater Engineer Engineering 21,560 PAB
Wind Energy Engineer Engineering 19,980 PAB
Wind Energy Operations Manager Engineering 30,700 PAB
Work Planner Engineering 16,880 PAB

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