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Power Plant Operator Average Salary in Iceland 2020

How much money does a Power Plant Operator make in Iceland?


Average Monthly Salary
463,000 ISK
( 5,560,000 ISK yearly)

LOW
213,000
ISK
AVERAGE
463,000
ISK
HIGH
737,000
ISK

A person working as a Power Plant Operator in Iceland typically earns around 463,000 ISK per month. Salaries range from 213,000 ISK (lowest) to 737,000 ISK (highest).

This is the average monthly salary including housing, transport, and other benefits. Power Plant Operator salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Power Plant Operator Salary Distribution in Iceland

Median and salary distribution monthly Iceland Power Plant Operator
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The median, the maximum, the minimum, and the range

  • Salary Range

    Power Plant Operator salaries in Iceland range from 213,000 ISK per month (minimum salary) to 737,000 ISK per month (maximum salary).

  • Median Salary

    The median salary is 500,000 ISK per month, which means that half (50%) of people working as Power Plant Operator(s) are earning less than 500,000 ISK while the other half are earning more than 500,000 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 Power Plant Operator(s) are earning less than 321,000 ISK while 75% of them are earning more than 321,000 ISK. Also from the diagram, 75% of Power Plant Operator(s) are earning less than 668,000 ISK while 25% are earning more than 668,000 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

Power Plant Operator Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Iceland Power Plant Operator
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Power Plant Operator salaries by experience level and this is what we found.

A Power Plant Operator with less than two years of experience makes approximately 242,000 ISK per month.

While someone with an experience level between two and five years is expected to earn 323,000 ISK per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 478,000 ISK per month, 48% more than someone with two to five years of experience.

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.

Additionally, Power Plant Operator(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 582,000 ISK per month, 22% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 635,000 ISK per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 687,000 ISK per month, 8% more than people with fifteen to twenty years of experience.


Power Plant Operator average salary change by experience in Iceland

0 - 2 Years
242,000 ISK
2 - 5 Years+34%
323,000 ISK
5 - 10 Years+48%
478,000 ISK
10 - 15 Years+22%
582,000 ISK
15 - 20 Years+9%
635,000 ISK
20+ Years+8%
687,000 ISK
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Power Plant Operator Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Power Plant Operator(s) who have the same experience but different education levels.

Salary comparison by education level monthly Iceland Power Plant Operator
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Power Plant Operator salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Power Plant Operator is 276,000 ISK per month.

While someone with a Certificate or Diploma gets a salary of 433,000 ISK per month, 57% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 726,000 ISK per month, 68% more than someone with a Certificate or Diploma.


Power Plant Operator average salary difference by education level in Iceland

High School
276,000 ISK
Certificate or Diploma+57%
433,000 ISK
Bachelor's Degree+68%
726,000 ISK
Percentage increase and decrease are relative to the previous value

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Power Plant Operator Salary Comparison By Gender

Salary comparison by gender monthly Iceland Power Plant Operator
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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 Power Plant Operator employees in Iceland earn 5% more than their female counterparts on average.

Male
474,000 ISK
Female-4%
453,000 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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Power Plant Operator Average Annual Salary Increment Percentage in Iceland

How much are annual salary increments in Iceland for Power Plant Operator(s)? How often do employees get salary raises?

Power Plant Operator

Power Plant Operator(s) in Iceland are likely to observe a salary increase of approximately 7% 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 Power Plant Operator
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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 2019

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 2019. 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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Power Plant Operator Bonus and Incentive Rates in Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Power Plant Operator
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A Power Plant Operator is considered to be a moderate bonus-based job 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.

59% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 41% 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
41%
No Bonus
59%

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.

Power Plant Operator Average Hourly Wage in Iceland


2,670 ISK per hour

The average hourly wage (pay per hour) in Iceland is 2,670 ISK. This means that the average Power Plant Operator in Iceland earns approximately 2,670 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.

Power Plant Operator VS Other Jobs

Salary Comparison Between Power Plant Operator and Oil  / Gas / Energy / Mining monthly Iceland
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The average salary for Power Plant Operator is 25% less than that of Oil / Gas / Energy / Mining. Also, Oil / Gas / Energy / Mining salaries are 10% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Assistant Yard Manager576,000 ISK+24%
Associate Analyst679,000 ISK+47%
Associate Landman285,000 ISK-38%
Auxiliary Equipment Operator252,000 ISK-46%
Biomass Plant Technician296,000 ISK-36%
Biomass Power Plant Manager847,000 ISK+83%
Chemical Plant Operator476,000 ISK+3%
Chief Contract Compliance Engineer616,000 ISK+33%
Completions Engineer592,000 ISK+28%
Cost Controller430,000 ISK-7%
Crude Oil Marketing Representative630,000 ISK+36%
Dispatcher258,000 ISK-44%
Distribution Manager848,000 ISK+83%
Dragline Operator276,000 ISK-40%
Driller Offsider211,000 ISK-54%
Dump Truck Driver238,000 ISK-49%
Electric and Gas Operations Manager1,340,000 ISK+190%
Energy Advisor888,000 ISK+92%
Energy Analyst872,000 ISK+88%
Energy Auditor767,000 ISK+66%
Energy Dispatch Director1,010,000 ISK+120%
Energy Technical Assistant373,000 ISK-20%
Energy Technical Manager732,000 ISK+58%
Energy Technical Trainer513,000 ISK+11%
Exploration Manager1,020,000 ISK+120%
Field Safety Auditor673,000 ISK+45%
Fluids Engineer590,000 ISK+27%
Fuel Cell Engineer621,000 ISK+34%
Fuel Cell Technician296,000 ISK-36%
Fuels Handler273,000 ISK-41%
Gas Compressor Operator256,000 ISK-45%
Gas Distribution Plant Operator474,000 ISK+2%
Gas Supply Manager889,000 ISK+92%
Geologist1,050,000 ISK+130%
Geophysicist1,140,000 ISK+150%
Geothermal Production Manager982,000 ISK+110%
Geothermal Technician402,000 ISK-13%
HSE Engineer576,000 ISK+24%
HSE Officer350,000 ISK-24%
HSEQ Administrator435,000 ISK-6%
Inspector572,000 ISK+23%
Instructor509,000 ISK+10%
Instrument Designer480,000 ISK+4%
Lead Technical Field Advisor809,000 ISK+75%
Logistics and Tool Coordinator525,000 ISK+13%
Maintenance Engineer615,000 ISK+33%
Maintenance Superintendent538,000 ISK+16%
Material Controller386,000 ISK-17%
Mine Engineer565,000 ISK+22%
Mine Surveyor676,000 ISK+46%
Mining Project Administrator551,000 ISK+19%
Mining Project Assistant437,000 ISK-6%
Mining Project Controls Consultant691,000 ISK+49%
Mining Project Coordinator546,000 ISK+18%
Mining Project Engineer596,000 ISK+29%
Mining Project Manager786,000 ISK+70%
Mining Site Manager798,000 ISK+72%
Mining Team Leader641,000 ISK+38%
NDT Technician381,000 ISK-18%
Oil Service Unit Operator309,000 ISK-33%
Oil Trader771,000 ISK+66%
Oilwell Pumper219,000 ISK-53%
Petroleum Engineer 664,000 ISK+43%
Petroleum Geologist1,050,000 ISK+130%
Petroleum Pump System Operator320,000 ISK-31%
Pipeline Technician224,000 ISK-52%
Power Coordinator374,000 ISK-19%
Power Plant Operations Manager1,140,000 ISK+150%
Power Plant Operator463,000 ISK-0%
Radio Operator275,000 ISK-41%
Reliability Engineer603,000 ISK+30%
Reservoir Engineer542,000 ISK+17%
Risk Analyst737,000 ISK+59%
Roughneck612,000 ISK+32%
Scaffolder373,000 ISK-20%
Shutdown Engineer505,000 ISK+9%
Solar Energy Installation Manager853,000 ISK+84%
Solar Energy Systems Engineer600,000 ISK+29%
Solar Photovoltaic Installer378,000 ISK-18%
Solar Thermal Technician359,000 ISK-23%
Supply Operations Manager972,000 ISK+110%
Sustainability Specialist913,000 ISK+97%
System Development Advisor705,000 ISK+52%
Tanker Truck Driver225,000 ISK-51%
Utility Operator335,000 ISK-28%
Wind Energy Project Manager843,000 ISK+82%

Salary Comparison By City

CityAverage Salary
Reykjavik562,000 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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