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As a hub of maritime trade and international corporations, Panama adheres to a western 9-to-5 work environment.

Working Hours in Panama

Standard business hours in Panama are from 8 a.m. 5 or 6 p.m. Many of the countries in Central and South America take long lunch breaks, and Panama is no exception. Lunch typically runs from 1 p.m. to 2 p.m.

Government offices can often operate even earlier, starting at 7:30 a.m. and finishing at 4:30 p.m.

Wages in Panama

Along with Argentina, Panama has one of the highest minimum wages amongst all of Latin America. As recently as December 2017, a minimum wage reform was passed that hiked average wages up by approximately 6.5 percent. Since January 2018, the new minimum wages is within the range of $318 to $925.59 USD per month (previously between $303 to $869 USD in 2017).

Salaries in Panama

The average salary that one can earn in Panama depends on the field of work and experience. But on average, a typical worker in a field that does not require a degree earns between $350-$450 a month.

Contracts in Panama

There are three types of work contracts that an employer and employee can sign: a provisional contract for three months, a 12-month contract, or an indefinite contract.

For foreign workers, a copy is kept for themselves, while the employer and the Ministry of Labour also get copies.

Termination in Panama

An employer must give at least two months' notice to terminate an employee. They must also provide a written notice stating the reason for the termination.

Time Off in Panama

If a company offers paid vacation, it usually only comes into effect after an employee has been with a company for at least 11 months. From there, they can receive anywhere from seven to thirty paid vacation days off.

Holidays in Panama

Businesses usually close for Maundy Thursday and Good Friday (end of March), Christmas, New Years and Martyrs Day on January 9th.