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Electrical Engineer Average Salary in Iceland 2019

How much money does an Electrical Engineer make in Iceland?

627,725 ISK per month
Average Monthly Salary
A person working as an Electrical Engineer in Iceland typically earns around 627,725 ISK per month.
This is the average monthly salary including housing, transport, and other benefits. Electrical Engineer salaries may differ drasticlty based on experience, skills, gender, or location. Below you will find detialed breakdown based on many different criteria.

Electrical Engineer Salary Distribution in Iceland

Median and salary distribution monthly Iceland Electrical Engineer

Abount These Figures: Salary Range, Median and Percentiles

Electrical Engineer salaries in Iceland range between 257,367 ISK per month (minimum salary) to 966,696 ISK per month (maximum salary).

The median salary is 652,834 ISK per month, which means that half (50%) of people working as Electrical Engineer are earning less than 652,834 ISK while the other half are earning more than 652,834 ISK. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working as Electrical Engineer are earning less than 409,590 ISK while 75% of them are earning more than 409,590 ISK. Also from the diagram, 75% of people working as Electrical Engineer are earning less than 874,546 ISK while 25% are earning more than 874,546 ISK.

What is the difference between the median and the average salary? What should you be looking at?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary

Electrical Engineer Salary Comparison by Years of Experience

0 - 2 Years    =  
296,380 ISK
2 - 5 Years    +37%  
406,326 ISK
5 - 10 Years    +26%  
512,725 ISK
10 - 15 Years    +21%  
619,125 ISK
15 - 20 Years    +17%  
725,524 ISK
20+ Years    +24%  
899,310 ISK
Percentage increase and decrease are relative to the previous value

Experience level is the most important factor in determining your salary. Naturally the more years of experience the higher your wage. We broke down Electrical Engineer salaries by experience level. An Electrical Engineer with less than two years of experience makes approximatly 296,380 ISK per month. While someone with experience level between two and five years is expected to earn 406,326 ISK per month, 37% more than someone with less than two year's experience. Moving forward, an experience level between five and ten years lands a salary of 512,725 ISK per month, 26% more than a person with two to five years of experience. Additionally, Electrical Engineer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 619,125 ISK per month, 21% more than a person with five to ten years of experience. If the experience level is between fifteen and twenty years, then the expected wage is 725,524 ISK per month, 17% more than a person with ten to fifteen years of experience. Lastly, employees with more than twenty years of professional experience get a salary of 899,310 ISK per month, 24% more than people with fifteen to twenty years of experience.

Salary comparison by years of experience monthly Iceland Electrical Engineer

Electrical Engineer Salary Comparison By Education

Certificate or Diploma    =  
374,406 ISK
Bachelor's Degree    +40%  
523,365 ISK
Master's Degree    +41%  
736,164 ISK
Percentage increase and decrease are relative to the previous value

We all know that higher education equals a bigger salary, but how much more money can a degree add into your income? We broke down Electrical Engineer salaries by education level in order to make a comparison. When the education level is Certificate or Diploma, the average salary of an Electrical Engineer is 374,406 ISK per month. While someone with a Bachelor's Degree gets a salary of 523,365 ISK per month, 40% more than someone with Certificate or Diploma. A Master's Degree gets its holder an average salary of 736,164 ISK per month, 41% more than someone with Bachelor's Degree.

Salary comparison by education level monthly Iceland Electrical Engineer

Electrical Engineer Salary Comparison By Gender

Female    =  
568,091 ISK
Male    +21%  
687,358 ISK
Percentage increase and decrease are relative to the previous value
Though gender should not have an effect on pay, in reality it does. So who gets paid more: men or women? Male Electrical Engineer employees in Iceland earn 21% more than their female counterparts.

Salary comparison by gender monthly Iceland Electrical Engineer

Public / Government vs Private Sector Salary Comparison

Private Sector    =  
536,704 ISK
Public Sector    +34%  
718,745 ISK
Percentage increase and decrease are relative to the previous value
Where can you get paid more, working for a private company or for the goverment? Public sector Electrical Engineer employees in Iceland earn 34% more than their private sector counterparts.

Public vs private sector salaries monthly Iceland Electrical Engineer

Electrical Engineer Salary Trend and Forecast in Iceland

How are Electrical Engineer salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Iceland Electrical Engineer
Average Salary 2016    =  
562,902 ISK
Average Salary 2017    +4%  
583,729 ISK
Average Salary 2018    +4%  
605,327 ISK
Average Salary 2019    +4%  
627,725 ISK
Percentage increase and decrease are relative to the previous value
Electrical Engineer salaries in Iceland are on the rise in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 4% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.

Electrical Engineer Average Hourly Wage in Iceland

3,621 ISK per hour
Average Hourly Wage

The average hourly wage (pay per hour) in Iceland for Electrical Engineer is 3,621 ISK. This means that the average Electrical Engineer in Iceland earns approximatly 3,621 ISK for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one working hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.

Electrical Engineer VS Other Jobs

Salary Comparison Between Electrical Engineer and Engineering monthly IcelandWe compared Iceland salaries for Electrical Engineer, Engineering, and All Jobs and we found that Electrical Engineer salaries are 2% more than those of Engineering. We also found out that Engineering salaries are 11% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Acoustics Engineer587,454 ISK-6%
Assembly Engineering Technician518,142 ISK-17%
Assistant Chief Engineer630,892 ISK+1%
Associate Engineer567,858 ISK-10%
Autocad Operator469,563 ISK-25%
Automation Engineer634,457 ISK+1%
Avionic System Support Engineer543,413 ISK-13%
Biochemical Engineer662,044 ISK+5%
BMS Engineer593,082 ISK-6%
Bridge and Lock Tender569,563 ISK-9%
Broadcast Engineer628,845 ISK+0%
CAD Design Engineer591,163 ISK-6%
CAD Designer489,344 ISK-22%
CAE Engineer588,321 ISK-6%
Ceramics Engineer573,729 ISK-9%
Civil Engineer581,192 ISK-7%
Commissioning Engineer559,558 ISK-11%
Communications Engineer589,379 ISK-6%
Condition Monitoring Engineer517,622 ISK-18%
Contract Associate Engineer628,877 ISK+0%
Control Systems Engineer613,935 ISK-2%
Controls Engineer618,808 ISK-1%
Controls Software Engineer596,938 ISK-5%
Corrosion Engineer558,657 ISK-11%
Design Engineer628,991 ISK+0%
Drafter429,755 ISK-32%
Drafting Manager643,974 ISK+3%
Drilling Engineer563,879 ISK-10%
Electrical Draughtsman358,585 ISK-43%
Electrical Engineer627,725 ISK=
Electrical Engineering Manager731,574 ISK+17%
Electromechanical Engineering Technologist675,688 ISK+8%
Electromechanical Equipment Assembler582,191 ISK-7%
Energy Engineer641,239 ISK+2%
Engine Assembler433,230 ISK-31%
Engineer578,269 ISK-8%
Engineering Account Manager595,711 ISK-5%
Engineering Chief Designer600,536 ISK-4%
Engineering Consultant698,522 ISK+11%
Engineering Key Account Manager650,089 ISK+4%
Engineering Lab Technician553,226 ISK-12%
Engineering Planning Manager746,955 ISK+19%
Engineering Production Manager755,960 ISK+20%
Engineering Project Analyst687,388 ISK+10%
Engineering Project Coordinator 600,253 ISK-4%
Engineering Project Director756,699 ISK+21%
Engineering Project Manager717,720 ISK+14%
Engineering Research and Development Manager733,181 ISK+17%
Engineering Safety Coordinator520,741 ISK-17%
Engineering Sales Manager712,604 ISK+14%
Engineering Technician526,328 ISK-16%
Engineering Technologist556,342 ISK-11%
Environmental Engineer609,745 ISK-3%
Equipment Engineer561,037 ISK-11%
Equipment Engineering Manager680,575 ISK+8%
Estimator582,378 ISK-7%
Fabrication Specialist510,070 ISK-19%
Fabricator443,788 ISK-29%
Facade Engineer672,948 ISK+7%
Fiber Analyst487,738 ISK-22%
Field Engineer559,900 ISK-11%
Field Engineering Manager735,195 ISK+17%
Fire Engineer615,957 ISK-2%
Fitter and Turner319,604 ISK-49%
Forestry Strategic Planner651,144 ISK+4%
Generation Engineer658,488 ISK+5%
Genetic Engineer759,380 ISK+21%
Geological Engineer657,593 ISK+5%
Geotechnical Engineer654,556 ISK+4%
Heavy Equipment Mechanic485,576 ISK-23%
Highway Engineer534,271 ISK-15%
HSE Professional505,188 ISK-20%
HVAC Engineer597,491 ISK-5%
HVAC Supervisor612,181 ISK-2%
Industrial Engineer557,058 ISK-11%
Industrial Engineering Technologist576,953 ISK-8%
Instrument Engineer657,788 ISK+5%
Instrumentation and Control Engineer649,261 ISK+3%
Instrumentation Engineer635,959 ISK+1%
Instrumentation Manager747,686 ISK+19%
Irrigation Engineer556,489 ISK-11%
Licensed Aircraft Engineer626,117 ISK-0%
Locomotive Engineer550,664 ISK-12%
Maintenance Engineer548,010 ISK-13%
Maintenance Fitter393,698 ISK-37%
Maintenance Manager708,203 ISK+13%
Manufacturing Engineer626,759 ISK-0%
Marine Engineer531,006 ISK-15%
Materials Engineer554,216 ISK-12%
Materials Researcher665,891 ISK+6%
Materials Technician559,900 ISK-11%
Mechanical and Electrical Engineer623,062 ISK-1%
Mechanical Design Engineer642,927 ISK+2%
Mechanical Designer559,981 ISK-11%
Mechanical Engineer616,956 ISK-2%
Mechanical Engineering Manager719,012 ISK+15%
Mechanical Inspector623,211 ISK-1%
Mechatronics Engineer588,890 ISK-6%
Mining Engineer557,665 ISK-11%
Oil and Petrochemical Engineer646,566 ISK+3%
Optical Engineer542,309 ISK-14%
Optical Instrument Assembler485,927 ISK-23%
PCB Assembler441,252 ISK-30%
Photonics Engineer625,661 ISK-0%
Photonics Technician507,827 ISK-19%
Pipeline Engineer584,911 ISK-7%
Piping Designer517,623 ISK-18%
Piping Engineer583,774 ISK-7%
Planning Engineer575,247 ISK-8%
Pressure Vessel Inspector408,121 ISK-35%
Principal Cost Engineer638,655 ISK+2%
Principal Engineer649,700 ISK+4%
Principal Support Engineer567,858 ISK-10%
Process Engineer559,314 ISK-11%
Process Operator493,454 ISK-21%
Product Development Engineer613,789 ISK-2%
Product Development Technician510,866 ISK-19%
Product Engineer550,237 ISK-12%
Product Safety Engineer599,100 ISK-5%
Production Engineer624,557 ISK-1%
Project Engineer588,964 ISK-6%
Proposal Manager699,212 ISK+11%
Purchasing Engineer561,312 ISK-11%
Quality Assurance Engineer549,100 ISK-13%
Rail Engineer548,531 ISK-13%
Robotics Engineer685,407 ISK+9%
Robotics Technician563,879 ISK-10%
Safety Engineer540,166 ISK-14%
Safety Inspector505,188 ISK-20%
Safety Manager681,535 ISK+9%
Safety Officer503,524 ISK-20%
Sales Engineer583,774 ISK-7%
Scheduling Engineer488,079 ISK-22%
Service Engineer662,684 ISK+6%
Solar Engineer633,425 ISK+1%
Staff Engineer559,900 ISK-11%
Static Equipment Engineer547,831 ISK-13%
Stationary Engineer526,110 ISK-16%
Stress Engineer528,286 ISK-16%
Structural Analysis Engineer582,945 ISK-7%
Structural Designer552,170 ISK-12%
Structural Engineer590,182 ISK-6%
Structural Technician487,412 ISK-22%
Supply Chain Specialist675,688 ISK+8%
Surveyor461,798 ISK-26%
Technical Affairs Officer483,474 ISK-23%
Technical Assistant498,311 ISK-21%
Technical Engineer547,419 ISK-13%
Technical Support Engineer525,775 ISK-16%
Tender Engineer526,328 ISK-16%
Test Development Engineer560,467 ISK-11%
Transportation Engineer578,738 ISK-8%
Validation Engineer588,890 ISK-6%
Verification Engineer571,026 ISK-9%
Wastewater Engineer575,467 ISK-8%
Wind Energy Engineer637,844 ISK+2%
Wind Energy Operations Manager736,520 ISK+17%
Work Planner433,662 ISK-31%

Salary Comparison By City

CityAverage Salary
Reykjavik687,856 ISK
512438 - 1
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