How to find a job in Panama
Many people considering to move to Panama think about how to find a job in Panama. There are diverse job opportunities for both locals and expatriates, thanks to its strategic location and robust economy. A larger portion of the countries GDP is contributed by the service sector, particularly finance, banking, logistics, maritime, and transportation due to the Panama Canal. Additionally, there are growing demands in IT, tourism, and healthcare sectors. Here’s a guide to help you navigate the job market in Panama and secure employment.
Eligibility to Work
To work in Panama, acquiring a work permit is mandatory for foreigners. This generally involves securing a job offer from a Panamanian company. The necessary documents typically include:
- Passport
- Evidence of professional qualifications
- Health certificates (if required)
Some professions, such as accountancy, engineering, and law, are restricted to Panamanian nationals. The complete list of restricted professions can be found on the Panamanian Ministry of Labor’s website.
Salaries in Panama City
Panama City boasts relatively high wages compared to other Latin American cities, albeit with a high cost of living. Here are the salary estimates for various sectors:
General Salaries
- Minimum Wage: $600 – $800 per month
- Average Salary: $900 – $1,300 per month
Industry-Specific Salaries
- Finance and Banking: $2,000 – $5,000 per month
- Technology and IT: $1,500 – $3,000 per month
- Tourism and Hospitality: Ranges from minimum wage to over $2,000 for management roles
- Healthcare: $2,000 – $6,000 per month
- Education: $1,000 – $2,500 per month
Influencing Factors
- Experience and Education: Higher levels tend to command better wages
- Industry Demand: Sectors like technology and finance offer higher salaries
- Company Size: Larger multinational corporations usually provide higher pay
- Language Skills: Proficiency in Spanish alongside English is beneficial
Job Research and Preparation
Job Search Platforms
- [LinkedIn](https://www.linkedin.com/)
- [Encuentra24](https://www.encuentra24.com/panama-es/empleos)
- [OpcionEmpleo](https://www.opcionempleo.com.pa/)
- [Talent](https://pa.talent.com/jobs)
- [Indeed](https://pa.indeed.com/?r=us)
- [Konzerta](https://www.konzerta.com/)
Networking
Building a professional network is crucial. Engage with contacts who are familiar with Panama’s job market. Attend industry conferences and seminars, and utilize platforms like LinkedIn to connect with professionals in Panama.
Applying for Jobs
Localization
Tailor your resume and cover letter to highlight relevant skills and experience for the Panamanian market, including any Spanish language skills or Latin American experience.
Professional References
Include professional references or endorsements, particularly from connections in Panama or Latin America.
Interview Preparation
Research the company thoroughly and understand common interview questions in Panama.
Salary Income Tax
Panama’s income tax rates are progressive:
- $0 to $11,000: 0%
- $11,000 to $50,000: 15%
- Above $50,000: 25% on income above $50,000 plus a fixed rate of $5,850
Tax deductions can help reduce liabilities, such as health insurance deductions and mortgage deductions.
Internships
Internships are available, notably within the NGO sector in Panama City. They also exist in finance, logistics, tourism, and international trade. Many foreigners utilize internships to gain international work experience.
Freelance Work
Freelancing is viable in Panama City due to territorial taxation policies. Popular freelancing websites include Upwork, Freelancer, and Fiverr. Obtaining the correct work permit for freelancing is necessary and often involves setting up a company and adhering to a specific visa program like the Friendly Nations Visa.
Restaurant and Mall Jobs
Restaurant and mall jobs cater to a range of skills and experience levels. Common roles include:
- Kitchen Staff: Chefs, line cooks, dishwashers
- Front of House: Servers, bartenders, hosts
- Management: Restaurant managers, store managers
- Retail Sales: Positions in various retail shops
- Customer Service: Receptionists, concierges
Working hours in these sectors can be irregular, and bilingualism is an asset due to the international context of Panama City.
Conclusion
Securing a job in Panama City requires understanding the local job market, leveraging networks, and effectively presenting your skills and qualifications. Tailoring your approach to the Panamanian market, acquiring the necessary work permits, and utilizing both job search platforms and networks will significantly boost your chances of finding a suitable position.
References
- Statista – Panama GDP Distribution Across Economic Sectors
- World Bank – Panama Country Overview World Bank Overview
- Kraemer & Kraemer – Panama Work Permit Guide Kraemer Law
- ExpatDen – Working in Panama: A Guide for Expats ExpatDen
- Vacation to Panama – Panama Employment and Jobs Guide Vacation to Panama
