What is the minimum wage in Panama
? What should one expect in terms of salary if you look for jobs in Panama
Expert Jessica Ramesch answered to question to 09 Dec. 2013
Minimum wage varies here. There are different thresholds for jobs like construction (paid hourly), live-in staff (room & board are factored in, allowing for lower minimum wages), call centers (special regulatory framework), etc. At present average salary is around $500 a month. A white-collar exec can earn as much as $3000 a month here (or even more); this would be considered an excellent salary affording an upper middle class lifestyle based on cost of living in Panama. Most foreigners who relocate or retire to Panama choose to start a business and possibly even create jobs, rather than seeking a job on the local market. Also note that the national language is Spanish; despite the fact that English is quite commonly spoken in Panama, most jobs require fluency in Spanish. That said, unemployment is currently extremely low in Panama, around 4%. Most companies in Panama are allowed by law to have 10% of their staff be foreign, with 90% consisting of nationals. Hope that helps give you an idea.