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Construction / Building / Installation Average Salaries in Iceland 2022

How much money does a person working in Construction / Building / Installation make in Iceland?

Average Monthly Salary
404,000 ISK
( 4,850,000 ISK yearly)


A person working in Construction / Building / Installation in Iceland typically earns around 404,000 ISK per month. Salaries range from 174,000 ISK (lowest average) to 1,180,000 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 Construction / Building / Installation 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
Adjudicator258,000 ISK
Assembler216,000 ISK
Boat Builder and Shipwright303,000 ISK
Bricklayer173,000 ISK
Building Administrator260,000 ISK
Building Contracts Manager902,000 ISK
Building Inspector246,000 ISK
Building Monitor202,000 ISK
Building Sales Manager846,000 ISK
Cabinetmaker216,000 ISK
Carpenter240,000 ISK
Civil Engineer594,000 ISK
Civil Technician310,000 ISK
Concreter187,000 ISK
Construction and Maintenance Manager497,000 ISK
Construction Assistant239,000 ISK
Construction Coordinator344,000 ISK
Construction Estimator382,000 ISK
Construction Field Engineer521,000 ISK
Construction General Manager1,180,000 ISK
Construction Inventory Officer210,000 ISK
Construction Operations Manager1,020,000 ISK
Construction Project Coordinator629,000 ISK
Construction Project Engineer591,000 ISK
Construction Project Manager1,030,000 ISK
Construction Project Planner565,000 ISK
Construction Quality Control Manager799,000 ISK
Construction Safety Officer401,000 ISK
Construction Superintendent397,000 ISK
Construction Supervisor571,000 ISK
Construction Technical Assistant227,000 ISK
Construction Technical Officer257,000 ISK
Construction Technical Writer242,000 ISK
Construction Technician217,000 ISK
Crane and Tower Operator214,000 ISK
Diesel Mechanic202,000 ISK
Drywall Installer229,000 ISK
Electrical Draftsman206,000 ISK
Electrical Engineering Supervisor665,000 ISK
Electrical Engineering Technician274,000 ISK
Electrician308,000 ISK
Elevator Installer and Repairer278,000 ISK
Engineer597,000 ISK
Excavator Operator217,000 ISK
Floor Finisher227,000 ISK
Floor Manager333,000 ISK
Foreman170,000 ISK
Frame and Truss Detailer196,000 ISK
Furniture Finisher198,000 ISK
Gas Technician 186,000 ISK
Handyman193,000 ISK
Health and Safety Coordinator255,000 ISK
Health and Safety Officer295,000 ISK
Installation Manager689,000 ISK
Installer191,000 ISK
Insulation Installer210,000 ISK
Labourer173,000 ISK
Land Surveyor264,000 ISK
Lift Technician210,000 ISK
Material Tester300,000 ISK
Model Maker303,000 ISK
Order Picker178,000 ISK
Painter193,000 ISK
Pipe Layer165,000 ISK
Pipefitter164,000 ISK
Plumber216,000 ISK
Property Coordinator519,000 ISK
Purchasing Manager702,000 ISK
Quantity Surveyor374,000 ISK
Roof Slater and Tiler177,000 ISK
Sheet Metal Mechanic196,000 ISK
Site Clerk207,000 ISK
Site engineer512,000 ISK
Site Leader986,000 ISK
Stock Controller296,000 ISK
Structural Steel Construction Worker214,000 ISK
Technical Draughtsman240,000 ISK
Tendering Manager928,000 ISK
Tower Crane Operator198,000 ISK
Wall and Floor Tiler186,000 ISK
Warehouse Manager650,000 ISK
Welder167,000 ISK
Welding Superintendent243,000 ISK

Construction / Building / Installation Jobs Salary Distribution in Iceland

Median and salary distribution monthly Iceland Construction / Building / Installation
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The median, the maximum, the minimum, and the range

  • Salary Range

    Construction / Building / Installation salaries in Iceland range from 174,000 ISK per month (minimum average salary) to 1,180,000 ISK per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 437,000 ISK per month, which means that half (50%) of people working in Construction / Building / Installation are earning less than 437,000 ISK while the other half are earning more than 437,000 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 Construction / Building / Installation are earning less than 275,000 ISK while 75% of them are earning more than 275,000 ISK. Also from the diagram, 75% of people working in Construction / Building / Installation are earning less than 871,000 ISK while 25% are earning more than 871,000 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.

Construction / Building / Installation Salary Comparison By Gender

Salary comparison by gender monthly Iceland Construction / Building / Installation
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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 Construction / Building / Installation earn 5% more than their female counterparts on average.

413,000 ISK
395,000 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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Construction / Building / Installation Average Annual Salary Increment Percentage in Iceland

How much are annual salary increments in Iceland for Construction / Building / Installation professionals? How often do employees get salary raises?

Construction / Building / Installation

Construction / Building / Installation professionals in Iceland are likely to observe a salary increase of approximately 3% every 30 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Iceland Construction / Building / Installation
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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

Information Technology

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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Construction / Building / Installation Bonus and Incentive Rates in Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Construction / Building / Installation
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Construction / Building / Installation is considered to be a low 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.

86% of surveyed staff in Construction / Building / Installation reported that they haven't received any bonuses or incentives in the previous year while 14% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Construction / Building / Installation Hourly Average Wage in Iceland

2,330 ISK per hour

The average hourly wage (pay per hour) in Iceland is 2,330 ISK. This means that the average person in Iceland earns approximately 2,330 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.

Construction / Building / Installation VS Other Jobs

Salary Comparison Between Construction / Building / Installation and Construction / Building / Installation monthly Iceland
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The average salary for Construction / Building / Installation is 41% less than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Reykjavik426,000 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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