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Information Technology Average Salaries in Iceland 2022

How much money does a person working in Information Technology make in Iceland?


Average Monthly Salary
690,000 ISK
( 8,280,000 ISK yearly)

LOW
358,000
ISK
AVERAGE
690,000
ISK
HIGH
1,120,000
ISK

A person working in Information Technology in Iceland typically earns around 690,000 ISK per month. Salaries range from 358,000 ISK (lowest average) to 1,120,000 ISK (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Information Technology careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
2nd Line Systems Engineer588,000 ISK
ABAP Developer584,000 ISK
Advertising Account Planner577,000 ISK
Android Developer591,000 ISK
Angular Developer539,000 ISK
Application Consultant740,000 ISK
Applications System Specialist554,000 ISK
Artificial Intelligence and Machine Learning Specialist724,000 ISK
Artificial Intelligence Developer724,000 ISK
AS400 Programmer647,000 ISK
Assistant Information Technology Manager782,000 ISK
Assistant Service Delivery Manager751,000 ISK
Avaloq Developer586,000 ISK
BizTalk Developer 641,000 ISK
Blockchain Associate621,000 ISK
Blockchain Developer579,000 ISK
Build and Release Engineer553,000 ISK
Business Intelligence Analyst639,000 ISK
Business Intelligence Developer682,000 ISK
Business Objects Developer619,000 ISK
Business Process Consultant688,000 ISK
Business Systems Analyst588,000 ISK
C# Developer656,000 ISK
C++ Developer660,000 ISK
Capacity Planning Manager844,000 ISK
Change Administrator549,000 ISK
Chief Information Security Officer951,000 ISK
Client Delivery Manager860,000 ISK
CMS Developer546,000 ISK
Computer Animator554,000 ISK
Computer Hardware Engineer546,000 ISK
Computer Networks Architect663,000 ISK
Computer Operator431,000 ISK
Computer Technician496,000 ISK
Copy Editor528,000 ISK
CRM Application Administrator583,000 ISK
Cross Platform Security Manager880,000 ISK
Curam Developer517,000 ISK
Data Analyst619,000 ISK
Data Architect661,000 ISK
Data Center Technician555,000 ISK
Data Entry Supervisor427,000 ISK
Data Manager837,000 ISK
Data Modeling Analyst660,000 ISK
Data Quality Analyst600,000 ISK
Data Security Analyst651,000 ISK
Data Security Manager899,000 ISK
Data Warehousing Manager861,000 ISK
Data Warehousing Specialist625,000 ISK
Database Administration Manager809,000 ISK
Database Administrator665,000 ISK
Database Analyst690,000 ISK
Database Developer672,000 ISK
Database Report Writer621,000 ISK
Delivery Manager648,000 ISK
Developer / Programmer613,000 ISK
Development Manager876,000 ISK
Director of Application Development946,000 ISK
Director of Technology1,050,000 ISK
Disaster Recovery Analyst612,000 ISK
Documentation Specialist552,000 ISK
E-Commerce Manager752,000 ISK
E-Commerce Marketing Analyst719,000 ISK
E-Commerce Marketing Manager782,000 ISK
E-Commerce Sales Manager813,000 ISK
E-Commerce Strategy Manager860,000 ISK
Enterprise Architecture Manager794,000 ISK
Enterprise Infrastructure Architect828,000 ISK
Enterprise Infrastructure Manager972,000 ISK
ERP / CRM Technical Consultant678,000 ISK
ERP Analyst685,000 ISK
ERP Project Manager849,000 ISK
Ethical Hacker571,000 ISK
Financial Systems Manager921,000 ISK
Flash Developer526,000 ISK
Front End Developer515,000 ISK
Full Stack Developer629,000 ISK
Functional Analyst622,000 ISK
Game Developer560,000 ISK
GIS Analyst589,000 ISK
GIS Developer588,000 ISK
Global BI Analyst697,000 ISK
Graphical User Interface ( GUI ) Programmer533,000 ISK
Graphics Programmer525,000 ISK
Graphics Web Designer509,000 ISK
Hardware Design Engineer635,000 ISK
Hardware Engineering Manager912,000 ISK
Hardware Technician507,000 ISK
Head of Development876,000 ISK
Help Desk Analyst582,000 ISK
Help Desk Manager694,000 ISK
Help Desk Support468,000 ISK
Helpdesk Manager710,000 ISK
Imaging Programmer532,000 ISK
Informatics Optimization Specialist647,000 ISK
Information Assurance Analyst654,000 ISK
Information Program Director859,000 ISK
Information Security Administrator728,000 ISK
Information Security Analyst776,000 ISK
Information Security Engineer650,000 ISK
Information Security Manager947,000 ISK
Information Security Specialist777,000 ISK
Information Services Consultant778,000 ISK
Information Technology Administrator521,000 ISK
Information Technology Asset Manager862,000 ISK
Information Technology Consultant779,000 ISK
Information Technology Coordinator500,000 ISK
Information Technology Director1,120,000 ISK
Information Technology Infrastructure Engineer546,000 ISK
Information Technology Manager1,060,000 ISK
Information Technology Operations Manager1,040,000 ISK
Information Technology Product Manager930,000 ISK
Information Technology Project Administrator554,000 ISK
Information Technology Project Coordinator651,000 ISK
Information Technology Project Leader752,000 ISK
Information Technology Project Manager963,000 ISK
Information Technology Quality Assurance Manager737,000 ISK
Information Technology Quality Assurance Team Lead (QA)684,000 ISK
Information Technology Quality Specialist632,000 ISK
Information Technology Support442,000 ISK
Information Technology Team Leader750,000 ISK
Information Technology Trainer644,000 ISK
Information Technology Training Analyst662,000 ISK
Interface Design Manager782,000 ISK
Interface Designer511,000 ISK
IOS Developer680,000 ISK
Java Developer657,000 ISK
Javascript Developer612,000 ISK
Lead Developer760,000 ISK
Linux Administrator640,000 ISK
Lotus Domino Administrator663,000 ISK
Lotus Notes Developer664,000 ISK
Mail Server Administrator582,000 ISK
Major Incident Manager733,000 ISK
Managed Service Specialist626,000 ISK
Microsystems Engineer642,000 ISK
Mobile Developer651,000 ISK
Multimedia Developer531,000 ISK
Multimedia Services Manager708,000 ISK
Network Administration Team Lead752,000 ISK
Network Administrator529,000 ISK
Network Analyst559,000 ISK
Network and Infrastructure Manager990,000 ISK
Network Engineer535,000 ISK
Network Engineering Manager697,000 ISK
Network Security Systems Manager743,000 ISK
Network Specialist588,000 ISK
Network Technician463,000 ISK
Nodejs Developer670,000 ISK
NT Systems Administrator573,000 ISK
Numerical Control Programmer521,000 ISK
Online Banking Manager1,000,000 ISK
Online Banking Specialist747,000 ISK
OPS Manager869,000 ISK
Oracle Database Administrator580,000 ISK
Oracle Developer677,000 ISK
Perl Developer515,000 ISK
PHP Developer538,000 ISK
Python Developer647,000 ISK
Records Manager507,000 ISK
Remedy Developer527,000 ISK
Reporting Analyst635,000 ISK
Ruby Developer577,000 ISK
Salesforce Administrator578,000 ISK
Salesforce Developer476,000 ISK
SAP Consultant677,000 ISK
SAS Programmer544,000 ISK
Scrum Master536,000 ISK
SEO Associate512,000 ISK
SEO Manager772,000 ISK
Service Delivery Manager789,000 ISK
Service Level Manager819,000 ISK
Service Support Lead638,000 ISK
SharePoint Administrator588,000 ISK
Sharepoint Consultant681,000 ISK
Sharepoint Developer684,000 ISK
Shift Leader682,000 ISK
SOA Analyst635,000 ISK
SOC Engineer606,000 ISK
Software Analyst619,000 ISK
Software Architect626,000 ISK
Software Development Manager867,000 ISK
Software Engineer634,000 ISK
Software QA Engineer603,000 ISK
Software Sales566,000 ISK
Software Specialist575,000 ISK
Software Support Engineer535,000 ISK
Software Test Engineer569,000 ISK
Solutions Architect849,000 ISK
Storage Engineer508,000 ISK
Supervisor428,000 ISK
Support Analyst582,000 ISK
Support Specialist615,000 ISK
System Administrator572,000 ISK
Systems Analyst617,000 ISK
Systems Architect633,000 ISK
Systems Consultant777,000 ISK
Systems Engineer528,000 ISK
Systems Integrator636,000 ISK
Technical Analyst540,000 ISK
Technical Consultant731,000 ISK
Technical Manager665,000 ISK
Technical Project Manager826,000 ISK
Technical Sales606,000 ISK
Technical Trainer638,000 ISK
Technical Writer556,000 ISK
Technology Business Analyst654,000 ISK
Technology Director1,050,000 ISK
Technology Specialist817,000 ISK
Teradata Developer515,000 ISK
Test Analyst597,000 ISK
Tester524,000 ISK
Testing Manager809,000 ISK
TIBCO Developer522,000 ISK
UNIX Administrator637,000 ISK
Usability Engineer626,000 ISK
User Experience Consultant655,000 ISK
User Experience Design Expert684,000 ISK
User Experience Designer562,000 ISK
User Experience Researcher689,000 ISK
User Interface Designer624,000 ISK
VB Developer467,000 ISK
VB.NET Developer616,000 ISK
Video Game Designer563,000 ISK
Visual Information Specialist594,000 ISK
Web Applications Manager723,000 ISK
Web Content Specialist690,000 ISK
Web Designer540,000 ISK
Web Developer547,000 ISK
Web Editor507,000 ISK
Web Project Manager723,000 ISK
Web Promotions Specialist601,000 ISK
Web Security Administrator624,000 ISK
Web Security Manager900,000 ISK
Web Support Analyst488,000 ISK
Web Writer489,000 ISK
Webmaster512,000 ISK
Windows System Administrator571,000 ISK
Wireless Consultant743,000 ISK
Writer and Documentor547,000 ISK

Information Technology Jobs Salary Distribution in Iceland

Median and salary distribution monthly Iceland Information Technology
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The median, the maximum, the minimum, and the range

  • Salary Range

    Information Technology salaries in Iceland range from 358,000 ISK per month (minimum average salary) to 1,120,000 ISK per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 745,000 ISK per month, which means that half (50%) of people working in Information Technology are earning less than 745,000 ISK while the other half are earning more than 745,000 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.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Information Technology are earning less than 496,000 ISK while 75% of them are earning more than 496,000 ISK. Also from the diagram, 75% of people working in Information Technology are earning less than 1,010,000 ISK while 25% are earning more than 1,010,000 ISK.


What is the difference between the median and the average salary?

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 plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Iceland costs anywhere from 3,440,000 Iceland Krona(s) to 10,300,000 Iceland Krona(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Information Technology Salary Comparison By Gender

Salary comparison by gender monthly Iceland Information Technology
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Iceland who work in Information Technology earn 5% more than their female counterparts on average.

Male
706,000 ISK
Female-4%
674,000 ISK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Iceland for all Careers

Salary comparison by gender monthly Iceland
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Information Technology Average Annual Salary Increment Percentage in Iceland

How much are annual salary increments in Iceland for Information Technology professionals? How often do employees get salary raises?

Information Technology

Information Technology professionals in Iceland are likely to observe a salary increase of approximately 5% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Iceland Information Technology
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Iceland / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Iceland is 2%.

Annual Increment Rate By Industry 2021

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Listed above are the average annual increase rates for each industry in Iceland for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Information Technology Bonus and Incentive Rates in Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Information Technology
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Information Technology is considered to be a moderate bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

61% of surveyed staff in Information Technology reported that they haven't received any bonuses or incentives in the previous year while 39% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.

Received Bonus
39%
No Bonus
61%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Information Technology Hourly Average Wage in Iceland


3,980 ISK per hour

The average hourly wage (pay per hour) in Iceland is 3,980 ISK. This means that the average person in Iceland earns approximately 3,980 ISK for every worked hour.


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

The hourly wage is the salary paid in one worked 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 the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Information Technology VS Other Jobs

Salary Comparison Between Information Technology and Information Technology monthly Iceland
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The average salary for Information Technology is 0% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Reykjavik728,000 ISK

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Iceland earn 25% more than their private sector counterparts on average across all sectors.

Private Sector
611,000 ISK
Public Sector+25%
763,000 ISK
Percentage increase and decrease are relative to the previous value

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