Salaries in the category

Economy, Finance, Accountancy

The gross salary range for people working in Panama in Economy, Finance, Accountancy is typically from 977 PAB (minimum salary) to 3,008 PAB (highest average, actual maximum salary is higher).

This is the total monthly salary including bonuses. Salaries can vary drastically among different job positions. If you are interested in the salary of a particular job, please choose it from the list.

Gross salary in category Economy, Finance, Accountancy

Salaries may vary by position, the value given is indicative.

80% of people earn:

977 - 3,008 PAB

10% earn less lthan 977 PAB

10% earns more than 3,008 PAB

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What does the data in the graph mean?

Salaries in the survey are expressed in gross.

Based on the Paylab.com salary survey, 80% of people in the Economy, Finance, Accountancy category in the Panama earn between 977 PAB and 3,008 PAB monthly gross.

10% of employees earn less than 977 PAB and 10% of people earn more than 3,008 PAB.

The survey is based on data from employees, cleaned of extreme and duplicate values. By taking a free, anonymous survey, you will get a more accurate salary comparison with other people working in the same position as you.

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List of positions in the Economy, Finance, Accountancy category and their job descriptions

Job position

Description of job position

Salary range

Accountant

Administering simple and/or double-entry accounting for the company.
Securing the proper and timely accounting of all issued invoices.
Proper recording of all entrusted accounting records.
Completing monthly, quarterly, and annual closings.
Completing tax declarations.
Preparing statements for the Statistical Office of the Slovak Republic.
Communicating with auditors, tax authorities, and other institutions.

871 - 2,445 PAB

Accounting service manager

Manage the team on a day-to-day basis and to develop and maintain strong external and internal client relationships.
Manage portfolios of clients and are responsible for fee negotiations, billings, contracts and cash collection.
For each assignment, the accounting services manager determines resource requirements, monitors the team’s progress against budget and sets timeframes.
They will review and approve the work of more junior staff and resolve any issues prior to director or partner review.
The accounting services manager will also contribute to business development by proactively seeking out new opportunities for the team.

1,390 - 4,270 PAB

Assistant Financial Controller

Assisting the Financial Controller in managing financial operations and reporting.
Preparing and analyzing financial statements, budgets, and forecasts.
Supporting the month-end and year-end closing processes.
Ensuring compliance with financial regulations and internal controls.
Conducting variance analysis and identifying trends in financial performance.
Collaborating with various departments to gather financial data and insights.
Assisting in the preparation of financial reports for management and stakeholders.
Maintaining accurate financial records and documentation.
Participating in audits and ensuring timely responses to audit inquiries.
Supporting the implementation of financial policies and procedures.
Assisting in cash flow management and monitoring of financial transactions.
Providing administrative support to the finance team as needed.
Contributing to process improvement initiatives within the finance department.
Engaging in professional development to stay current with industry trends and regulations.

1,030 - 2,899 PAB

Assistant of Auditor

Performing economic activities (with the exception of signing a written report on the results of provided audit services) under the direction of a certified auditor.
Checking financial statements of customers.
Managing audit documentation.
Managing the auditor’s assistant labour book.
Providing co-operation to the Slovak Chamber of Auditors in case of a quality audit concerning the performance of auditing services.

1,098 - 2,156 PAB

Assistant to a Tax Advisor

Performing economic activities under the guidance of a certified tax consultant.
Preparing tax opinions in the Slovak and/or a foreign language.
Calculating the income tax of natural and legal persons.
Preparing tax returns for the income tax of natural and legal persons, VAT, property tax, car tax and excise duty.
Registering taxpayers at the relevant tax authorities.
Communicating with the clients of the company and representatives of the tax administration.

1,219 - 2,321 PAB

Auditor

Verifying financial statements and annual reports of the external clients.
Checking for compliance with the legislation and accounting standards.
Communicating with accountants or other employees of the company in case of discrepancies.
Completing reports and recommendations based on the findings from an audit.
Notifying as to the potential risks, and proposing solutions to prevent them.

1,221 - 3,586 PAB

Billing Clerk

Issuing and processing of invoices, credit and debit notes.
Performing retrospective control of invoices and billing documentation.
Preparing documentation for invoicing and accounting.
Processing of travel orders.
Monitoring the payment discipline of customers, urging of late payments.
Cash management in domestic and foreign currency.
Communicating with customers and suppliers, solving possible discrepancies.
Recording and archiving of documents in accordance with accounting, tax and internal regulations.

933 - 1,796 PAB

Cashier

Receiving and issuing cash in local and foreign currency, valuables etc.
Issuing cash receipt and cash expenditure vouchers.
Keeping records of the cash received and issued.
Material responsibility for entrusted cash and valuables.
Participating in completing the daily and monthly financial statements of the company.

770 - 1,526 PAB

Chief Accountant

Complex administration and management of accounting.
Processing monthly, quarterly, and annual financial statements.
Defining the accounting methods that are used in the company and participation in the creation of internal directives related to accounting.
Preparing materials that are used for reporting to a superior.
Methodology management of accounting and related processes pursuant to valid legislation.
Preparing materials for completing audit and rating assessments.
Managing a team of accountants (in large companies).

1,131 - 3,498 PAB

Chief Accountant Deputy

Assisting the Chief Accountant in overseeing the daily operations of the accounting department.
Preparing and reviewing financial statements, ensuring accuracy and compliance with regulations.
Managing accounts payable and receivable, including processing invoices and payments.
Conducting regular reconciliations of bank accounts and financial statements.
Supporting the budgeting and forecasting processes by providing relevant financial data.
Ensuring timely and accurate financial reporting to management and stakeholders.
Assisting in the preparation of tax returns and ensuring compliance with tax regulations.
Collaborating with internal and external auditors during financial audits.
Implementing and maintaining accounting policies and procedures to enhance efficiency.
Training and mentoring junior accounting staff as needed.
Addressing any accounting discrepancies and resolving issues in a timely manner.
Staying updated on changes in financial regulations and best practices in accounting.

965 - 2,850 PAB

Claims Specialist

Managing and processing the outstanding claims agenda.
Monitoring the payment of overdue receivables.
Contacting debtors by telephone, recovering due amounts.
Sending letters of formal notice and reminders to debtors and other participants in the supplier-customer relation.
Concluding agreements with debtors, negotiating deadlines for payments and repayment schedules.
Transferring unrecovered debts to bailiffs and mandate companies.
Contributing to the reduction of the total volume of unrecovered debts.
Identifying the contact details of debtors.

919 - 2,760 PAB

Consultant

Analyzing customer needs and developing and presenting solution suggestions.
Performing customer/user training.
Analyzing legislative changes.
Providing phone and email support when completing the order.
Performing testing and documenting of program edits.
Ensuring Contract Service activity of the order.

1,187 - 3,591 PAB

Controller

Auditing of financial information of one or more companies.
Monitoring of selected financial indicators (e.g. profitability, liquidity, etc.).
Analysing and interpreting variations encountered.
Compilation of reports and analyses for senior management.

1,281 - 3,775 PAB

Cost Accountant

Estimating costs of projects and/or products.
Providing support to senior management in deciding on future investments.
Collecting data and analysing factors affecting the final price.
Preparing overviews of project and/or product costs.
Cooperating with suppliers and members of other departments of the company.

923 - 2,604 PAB

Damage appraiser

Assessing damage to property, vehicles, and equipment to determine the extent of loss.
Analyzing and documenting findings through detailed reports and photographs.
Collaborating with insurance adjusters, clients, and contractors to facilitate claims processing.
Providing expert recommendations on repair costs and replacement values.
Conducting site visits to evaluate damage and gather necessary information for claims.
Communicating effectively with clients to explain the appraisal process and findings.
Ensuring compliance with relevant regulations and industry standards during appraisals.
Maintaining accurate records of all appraisals and related documentation.
Staying updated on industry trends, pricing, and repair techniques to provide accurate assessments.
Participating in training and professional development to enhance appraisal skills and knowledge.

Data analyst

Interpret data, analyze results using statistical techniques and provide ongoing reports
Develop and implement databases, data collection systems, data analytics and other strategies that optimize statistical efficiency and quality
Acquire data from primary or secondary data sources and maintain databases/data systems
Identify, analyze, and interpret trends or patterns in complex data sets
Filter and “clean” data by reviewing computer reports, printouts, and performance indicators to locate and correct code problems
Work with management to prioritize business and information needs
Locate and define new process improvement opportunities

1,295 - 3,358 PAB

Economist

Responsibility for the processing and managing the accounting agenda of the company.
Checking customer payment of claims and liabilities of the company.
Cash management in domestic and/or foreign currency.
Drafting and recording internal regulations.
Submission of proposals for cost optimization of the company.
Preparing and submitting monthly, quarterly and annual statements and reports.
Preparing economic documents, reports and analyses for the company's management team.
Tax return preparation.
Assisting the tax office employees with tax inspections.

961 - 2,786 PAB

Financial Advisor

Executing financial counselling on the basis of a written contract with the client about providing financial counselling.
Making personal financial plans.
Making contracts of providing financial services in the client's currency.
Charging fees to the clients for provided services.
Collecting and paying out cash.

1,191 - 3,324 PAB

Financial Agent

Completing financial inter-mediation on the basis of a written contract with the financial institution.
Presenting offers of representing financial institutions to the clients.
Providing free counselling and recommendations concerning insurances, loans, leasing etc.
Making contracts with clients.
Taking care of existing clients.

1,268 - 3,702 PAB

Financial Analyst

Forecasting, planning, and analysis of revenues, costs, gross profit, and expenses.
Preparing the calculations in accordance with inflation.
Evaluating the efficiency and financial return on major investments.
Analysing the current results compared to the forecast and planned objective.
Monitoring and evaluating the development in terms of cost as well as indicators of profitability and productivity in accordance with standard accounting statements (balance sheet, income statement, cash flow).
Preparing documents for the financial managers’ decision process.
Verifying the creditworthiness of bank customers when providing the investment and operating loans.
Cooperating with international teams.
Evaluating trends, dependencies, and changes in the financial situation of the organisation.
Designing measures for optimisation.
Creating financial models and writing reports.

1,227 - 3,557 PAB

Financial Markets Specialist

Finding and contacting potential clients.
Communicating with clients to determine their needs, expectations, and financial possibilities.
Monitoring the development of commodity prices on world markets.
Concluding oral and written agreements with clients.
Investing clients' own funds or funds entrusted to them in securities.

1,487 - 3,897 PAB

Financial administration assistant

Assisting in the preparation and maintenance of financial records and reports.
Processing invoices, receipts, and payments in a timely manner.
Supporting the budgeting and forecasting processes by providing accurate data and analysis.
Reconciling bank statements and ensuring accuracy in financial transactions.
Maintaining organized financial documentation and filing systems.
Assisting with payroll processing and ensuring compliance with relevant regulations.
Collaborating with other departments to gather necessary financial information.
Conducting regular audits of financial records to ensure accuracy and compliance.
Providing administrative support to financial managers and other team members as needed.
Responding to inquiries related to financial matters and providing excellent customer service.
Contributing to the improvement of financial processes and systems for greater efficiency.
Staying updated on financial regulations and best practices to ensure adherence.

1,281 - 2,529 PAB

IFRS specialist

Responsibility for reporting according to international standards
Ensuring monthly closings (including IFRS, etc.); initiation of measures to optimize closing processes across departments
Processing of consolidated financial statements or preparation of documents for consolidation (including IFRS, etc.)
Compilation of statutory and managerial reporting (according to CAS, IFRS, US GAAP); implementation and compliance with group reporting standards and policies; reporting segmentation
Consolidation of financial statements and business combination, including resolution of problem areas (elimination of interrelationships, deferred tax, reporting and disclosure obligations)
Control of compliance with accounting rules in individual companies of the concern for the purpose of correct and verifiable consolidated accounting according to international standards
Support of specific areas (e.g. transfer pricing and documentation of transfer prices; cash pooling)
Preparation of documents for accounting and tax audits and communication with auditors

1,785 - 5,772 PAB

Invoicing and payment specialist

Performing invoicing for the client’s customers within a specified time period.
Defining requirements for clients.
Responsibility for the automatic and manual billing and solving all related problems.
Unsubscribing customers from the client’s billing system.
Daily communication with other departments within the company and sales managers.
Examining the possible differences between the invoices and the data entered into the client’s system.

883 - 2,533 PAB

Junior Accountant

Self-reliant solution of normal accounting operations in the scope of simple and/or double-entry accounting.
Solving more complex accounting operations under the supervision of a more experienced accountant.
Processing accounting transactions in an accounting program.
Processing documents for a senior accountant.
Responding to the less complex technical inquiries of clients and employees.

778 - 2,144 PAB

Junior Statistician

Sorting and evaluating data.
Processing partial analyses.
Entering data into the computer system.
Checking the accuracy of data.

1,078 - 2,905 PAB

Payroll Clerk

Processing and managing all payroll activities.
Completing annuity insurance records, archiving documents and records, and updating payslips.
Communicating and preparing documents and reports for Social Insurance Office, health insurers, and supplemental retirement insurance.
Monitoring legislative changes with their subsequent application to meet the company’s needs.
Preparing monthly payroll closing and reports.
Processing and checking attendance.
Recording and processing payroll deductions (meal vouchers, salary deposits, interest-free loans, other deductions, execution orders, etc.).

854 - 2,500 PAB

Reporting Specialist

Structuring and segmentation of reporting into a comprehensive reporting system
Implementation and compliance with company/group reporting standards and policies
Design of regular reports for managed areas at the request of line managers and other users
Creation of non-standard reports at the request of company management, line managers and other users
Cooperation on reporting for the parent company
Cooperation on reporting for state and regulatory authorities
Acquisition, control, editing and aggregation of data from various company data sources (e.g. CRM, operational systems – sales, production, logistics, financial accounting), advanced work with database tools
Development of information superstructure or information self-service over operational systems in the form of a management information system using BI technologies in cooperation with the information systems department

1,055 - 2,995 PAB

Senior Accountant

Self-reliant simple and/or double-entry accounting for one or more companies.
Performing more complex accounting operations requiring minimum guidance and control by the chief accountant.
Auditing financial statements, ledgers, and accounts.
Identifying unusual items, overdue items, etc.
Processing monthly, quarterly, and annual accounts.
Preparing and checking tax returns and VAT.
Processing records required by public authorities.
Training less experienced accountants in the department.
Responding to more complex technical inquiries of clients and employees.
Preparing reports for the company’s management or clients.

1,066 - 3,091 PAB

Senior Statistician

Responsibility for the precise definition of the subject, scope, and sources of measurement.
Self-reliant processing of single and periodical statistics.
Responsibility for selecting the most appropriate method for data collection and analysis.
Controlling the efficiency of the use of measurement resources.
Verifying the accuracy of information found.
Interpreting the data found in the form of reports, analyses, statistics, charts, graphs, etc.

Statistician

Checking the accuracy and completeness of statistical data.
Preparing documents for statistical surveys and analyses.
Monitoring the development of statistical indicators and identifying the causes of deviations from the planned parameters.
Processing comments and opinions on statistical results.

1,217 - 3,222 PAB

Tax Advisor

Providing advice in matters of taxes, levies, fees, tax proceedings of tax authorities and municipal authorities.
Completing expert opinions, instructions and recommendations.
Completing, verifying and checking the tax returns.
Attending to tax inspections, tax audits and similar specific projects.
Cooperating with a team of tax advisors in solving difficult problems.
Implementing the tax planning and optimising of tax obligations.
Representing clients in tax proceedings.
Attending to internal and external trainings.

1,465 - 4,286 PAB

VAT specialist

Preparation and submission of tax returns
Summary statements
Analysis, reporting
Tracking changes in the area of taxes and their interpretation and implementation in the company's systems
Cooperation on the creation and updating of the company's methodological instructions in the area of taxes
Collaboration on projects and process improvement
Communication with other institutions during audits, preparation of documents

1,088 - 3,536 PAB

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