This is an etiquette question.

 

I'm working in Myanmar as a teacher.  Suppose I meet the parents of one of my young students.  If this were Thailand, then I would wai them as a form of greeting, and the level of my respect could be easily communicated by how high (with my hands) I did my wai.

 

But what about meeting parents of my young Myanmar students?  These would typically be well-off Myanmar families, and it is important for me to convey my level of respect as they are parents of my student.  (OTOH, a teacher is a respected profession in Myanmar, so they might want to convey a level of respect to me as a teacher, and possibly respect because of my advanced years...)

 

Is the 'wai' understood in Myanmar?  Or do I need to resort to high 5's?

Seems that it understood but not commonly used.

 

" The greeting consisting of a slight bow, with the palms pressed together in a prayer-like fashion—known in Thailand as the wai, in India as namasté, in Laos as nop and in Cambodian as satu—is not generally used in Myanmar. "

If you are the teacher, you do not need to do the "Wai" to the parents of your students. A simple handshake is enough.