Employees accept job offers not only upon the salary, but on the benefits that accompany many positions. Employee benefits are a "job perk" that may convince a potential employee to join a particular company. Evaluate what benefits are valuable to you when looking for a package.
Some mandatory benefits offered by Panamanian companies are as follows:
- Sick days (employees are entitled to 18 days off for an injury)
- Vacation
- Social Security (mandatory by law)
- Severance pay (employees should receive a severance payment that is equivalent of a weeks' worth of work)
- Pension fund (part of Social Security system with employees contributing 9.75% a year and employers contributing 12.25%.
- Income tax (ranges from 10% to 25%)
Expat Benefits for Jobs in Panama
To convince an employee to go abroad, there may be additional benefits to help ease the transition. The most common is an increase in salary. Another highly sought-after benefit is when a company covers the cost of your housing.
However, these are benefits that come with exclusive multinational firms. To get a position with one of them, you usually have to be recruited or find one through a recruiter outside Panama.
Read more about Expat Package Compensation on Expat-Quotes.
Update 23/06/2018
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