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Average Salary in Reykjavik 2019

How much money does a person working in Reykjavik make?

730,369 ISK per month
Average Monthly Salary
A person working in Reykjavik typically earns around 730,369 ISK per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Distribution of Salaries in Reykjavik | All Jobs

Median and salary distribution monthly Reykjavik

Abount These Figures: Salary Range, Median and Percentiles

Salaries in Reykjavik range between 98,858 ISK per month (minimum salary) to 3,234,182 ISK per month (maximum salary).

The median salary is 723,065 ISK per month, which means that half (50%) of the population are earning less than 723,065 ISK while the other half are earning more than 723,065 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 the population are earning less than 369,865 ISK while 75% of them are earning more than 369,865 ISK. Also from the diagram, 75% of the population are earning less than 1,939,051 ISK while 25% are earning more than 1,939,051 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

Salary Trend and Forecast in Reykjavik

How are Reykjavik salaries changing over time? Listed below is a chart that shows the average salary over the past few years.

Salary trends and forecast monthly Reykjavik
Average Salary 2016    =  
666,488 ISK
Average Salary 2017    +4%  
691,148 ISK
Average Salary 2018    +2%  
706,353 ISK
Average Salary 2019    +3%  
730,369 ISK
Percentage increase and decrease are relative to the previous value
Salaries in Reykjavik are on the rise in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% 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.

Salaries for popular jobs

Job TitleAverage Salary
Accountant491,569 ISK
Administrative Assistant395,821 ISK
Architect689,783 ISK
Attorney1,083,758 ISK
Biomedical Engineer641,515 ISK
CAD Drafter528,569 ISK
Cashier392,710 ISK
Chartered Accountant662,308 ISK
Chef572,652 ISK
Chief Executive Officer1,669,948 ISK
Chief Financial Officer1,474,763 ISK
Civil Engineer656,086 ISK
Computer Technician543,500 ISK
Creative Director721,745 ISK
Dentist1,823,709 ISK
Developer / Programmer614,702 ISK
Electrical Engineer687,856 ISK
Elementary School Teacher503,664 ISK
Engineer673,265 ISK
Executive Chef653,883 ISK
Flight Attendant649,011 ISK
General Manager1,232,078 ISK
Graphic Designer512,748 ISK
Hotel Manager1,077,382 ISK
Human Resources Manager1,038,731 ISK
Internal Auditor762,974 ISK
Journalist730,802 ISK
Legal Assistant500,048 ISK
Mechanical Engineer682,845 ISK
Nurse598,357 ISK
Pharmacist864,706 ISK
Photographer482,650 ISK
Pilot845,654 ISK
Police Officer558,466 ISK
Project Manager829,193 ISK
Receptionist514,640 ISK
Sales Manager1,142,517 ISK
Sales Representative489,072 ISK
Secondary School Teacher594,723 ISK
Secretary402,446 ISK
Teacher569,248 ISK
Teller497,516 ISK
Travel Agent604,863 ISK
Waiter / Waitress459,415 ISK

Average Hourly Wage in Reykjavik | All Jobs

4,214 ISK per hour
Average Hourly Wage

The average hourly wage (pay per hour) in Reykjavik | All Jobs is 4,214 ISK. This means that the average person in Reykjavik earns approximatly 4,214 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.

Reykjavik VS Iceland

Salary Comparison Between Reykjavik and Iceland monthlyWe compared salaries in Reykjavik and Iceland and we found that Reykjavik salaries are 5% more than those of Iceland.

Salary Comparison By City

CityAverage Salary
Reykjavik730,369 ISK
511582 - 11
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