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Elementary School Teacher Average Salary in Iceland 2022

How much money does an Elementary School Teacher make in Iceland?


Average Monthly Salary
464,000 ISK
( 5,560,000 ISK yearly)

LOW
213,000
ISK
AVERAGE
464,000
ISK
HIGH
737,000
ISK

A person working as an Elementary School Teacher in Iceland typically earns around 464,000 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. Elementary School Teacher salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Elementary School Teacher Salary Distribution in Iceland

Median and salary distribution monthly Iceland Elementary School Teacher
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The median, the maximum, the minimum, and the range

  • Salary Range

    Elementary School Teacher 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 501,000 ISK per month, which means that half (50%) of people working as Elementary School Teacher(s) are earning less than 501,000 ISK while the other half are earning more than 501,000 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 Elementary School Teacher(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 Elementary School Teacher(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

Elementary School Teacher Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Iceland Elementary School Teacher
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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 Elementary School Teacher salaries by experience level and this is what we found.

An Elementary School Teacher 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, Elementary School Teacher(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 583,000 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.


Elementary School Teacher 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%
583,000 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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Elementary School Teacher Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Elementary School Teacher(s) who have the same experience but different education levels.

Salary comparison by education level monthly Iceland Elementary School Teacher
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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 Elementary School Teacher salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of an Elementary School Teacher is 281,000 ISK per month.

While someone with a Master's Degree gets a salary of 543,000 ISK per month, 93% more than someone having a Bachelor's Degree degree.


Elementary School Teacher average salary difference by education level in Iceland

Bachelor's Degree
281,000 ISK
Master's Degree+93%
543,000 ISK
Percentage increase and decrease are relative to the previous value

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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Elementary School Teacher Salary Comparison By Gender

Salary comparison by gender monthly Iceland Elementary School Teacher
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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 Elementary School Teacher employees in Iceland earn 4% less than their female counterparts on average.

Male
453,000 ISK
Female+5%
474,000 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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Elementary School Teacher Average Annual Salary Increment Percentage in Iceland

How much are annual salary increments in Iceland for Elementary School Teacher(s)? How often do employees get salary raises?

Elementary School Teacher

Elementary School Teacher(s) in Iceland are likely to observe a salary increase of approximately 6% 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 Elementary School Teacher
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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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Elementary School Teacher Bonus and Incentive Rates in Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Elementary School Teacher
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An Elementary School Teacher is considered to be a low 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.

84% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 16% 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
16%
No Bonus
84%

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.

Elementary School Teacher 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 Elementary School Teacher 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.

Elementary School Teacher VS Other Jobs

Salary Comparison Between Elementary School Teacher and Teaching / Education monthly Iceland
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The average salary for Elementary School Teacher is 36% less than that of Teaching / Education. Also, Teaching / Education salaries are 6% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Academic Advisor662,000 ISK+43%
Academic Coach701,000 ISK+51%
Academic Manager816,000 ISK+76%
Academic Specialist615,000 ISK+33%
Academic Staff532,000 ISK+15%
Accompanist583,000 ISK+26%
Achievement Coach697,000 ISK+50%
Admissions Specialist606,000 ISK+31%
Agricultural Sciences Teacher527,000 ISK+14%
Anthropology Teacher530,000 ISK+14%
Arabic Language Teacher535,000 ISK+15%
Archeology Teacher536,000 ISK+16%
Architecture Teacher582,000 ISK+26%
Archivist459,000 ISK-1%
Art Teacher482,000 ISK+4%
Assistant School Principal675,000 ISK+46%
Assistant Teacher465,000 ISK+0%
Biochemistry Professor 913,000 ISK+97%
Biology Teacher527,000 ISK+14%
Bursary Scheme Manager602,000 ISK+30%
Business Teacher564,000 ISK+22%
Chemistry Teacher503,000 ISK+9%
Child Care Coordinator518,000 ISK+12%
Child Care Worker417,000 ISK-10%
Clinical School Psychologist825,000 ISK+78%
College Aide704,000 ISK+52%
College and Career Readiness Specialist745,000 ISK+61%
College President1,200,000 ISK+160%
Communications Teacher568,000 ISK+23%
Community Education Officer442,000 ISK-5%
Computer Science Teacher530,000 ISK+14%
Computer Teacher545,000 ISK+18%
Creative Writing Trainer634,000 ISK+37%
Credit Counselor663,000 ISK+43%
Cultural Studies Teacher523,000 ISK+13%
Curriculum Developer684,000 ISK+48%
Curriculum Specialist691,000 ISK+49%
Demonstrator504,000 ISK+9%
Deputy Controller of Examinations667,000 ISK+44%
Director of Learning Technology755,000 ISK+63%
Distance Learning Coordinator576,000 ISK+24%
Economics Lecturer905,000 ISK+95%
Education Administrator641,000 ISK+38%
Education Assistant Director675,000 ISK+46%
Education Assistant Principal560,000 ISK+21%
Education Assistant Professor779,000 ISK+68%
Education Consultant777,000 ISK+68%
Education Coordinator557,000 ISK+20%
Education Counselor611,000 ISK+32%
Education Director924,000 ISK+99%
Education Program Specialist723,000 ISK+56%
Education Researcher816,000 ISK+76%
Education Resource Specialist620,000 ISK+34%
Education Services Facilitator653,000 ISK+41%
Educational Psychologist882,000 ISK+90%
EFL Teacher532,000 ISK+15%
eLearning Trainer485,000 ISK+5%
Elementary School Teacher464,000 ISK+0%
Engineering Lecturer940,000 ISK+100%
Engineering Teacher782,000 ISK+69%
English Teacher524,000 ISK+13%
ESL Teacher570,000 ISK+23%
Faculty Assistant689,000 ISK+49%
Foreign Language Teacher491,000 ISK+6%
GED Teacher473,000 ISK+2%
Geography Teacher545,000 ISK+18%
Head of Mathematics Department716,000 ISK+54%
Head of School935,000 ISK+100%
High School Teacher582,000 ISK+26%
History Teacher578,000 ISK+25%
Infant Teacher401,000 ISK-14%
Instructional Assistant584,000 ISK+26%
Instructor636,000 ISK+37%
Kindergarten Teacher428,000 ISK-8%
Language Instructor For Expatriate467,000 ISK+1%
Law Teacher745,000 ISK+61%
Learning Designer672,000 ISK+45%
Lecturer917,000 ISK+98%
Librarian467,000 ISK+1%
Library Assistant377,000 ISK-19%
Library Director651,000 ISK+40%
Library Specialist453,000 ISK-2%
Life Sciences Teacher506,000 ISK+9%
Math Lecturer956,000 ISK+110%
Mathematics Teacher632,000 ISK+36%
Mentor572,000 ISK+23%
Middle School Teacher583,000 ISK+26%
Music Teacher502,000 ISK+8%
Nursery Manager806,000 ISK+74%
Nursery Worker333,000 ISK-28%
Paraprofessional726,000 ISK+57%
Physical Education Specialist570,000 ISK+23%
Physical Education Teacher497,000 ISK+7%
Physics Teacher 577,000 ISK+24%
Political Science Teacher544,000 ISK+17%
Post Doctoral Researcher863,000 ISK+86%
Preschool Education Administrator638,000 ISK+38%
Preschool Teacher449,000 ISK-3%
Primary School Teacher470,000 ISK+1%
Principal781,000 ISK+68%
Product Specialist594,000 ISK+28%
Professor - Accounting1,020,000 ISK+120%
Professor - Architecture1,030,000 ISK+120%
Professor - Biology998,000 ISK+120%
Professor - Business Administration972,000 ISK+110%
Professor - Chemical Engineering1,060,000 ISK+130%
Professor - Chemistry1,050,000 ISK+130%
Professor - Civil Engineering969,000 ISK+110%
Professor - Communication960,000 ISK+110%
Professor - Computer Science1,010,000 ISK+120%
Professor - Dentistry1,050,000 ISK+130%
Professor - Drama966,000 ISK+110%
Professor - Economics1,040,000 ISK+120%
Professor - Education1,020,000 ISK+120%
Professor - Electrical Engineering1,060,000 ISK+130%
Professor - English962,000 ISK+110%
Professor - Environmental Engineering1,030,000 ISK+120%
Professor - Foreign Languages952,000 ISK+110%
Professor - Geological Sciences984,000 ISK+110%
Professor - History992,000 ISK+110%
Professor - Industrial Engineering982,000 ISK+110%
Professor - Law1,060,000 ISK+130%
Professor - Legal Support947,000 ISK+100%
Professor - Liberal Arts988,000 ISK+110%
Professor - Marketing940,000 ISK+100%
Professor - Mathematics1,080,000 ISK+130%
Professor - Mechanical Engineering1,050,000 ISK+130%
Professor - Medical Administration1,060,000 ISK+130%
Professor - Medicine1,190,000 ISK+160%
Professor - Music909,000 ISK+96%
Professor - Nursing932,000 ISK+100%
Professor - Pharmaceutical Sciences981,000 ISK+110%
Professor - Philosophy988,000 ISK+110%
Professor - Physical Therapy1,040,000 ISK+120%
Professor - Physics1,070,000 ISK+130%
Professor - Psychology969,000 ISK+110%
Professor - Rehabilitation902,000 ISK+95%
Professor - Social Work885,000 ISK+91%
Professor - Sociology966,000 ISK+110%
Professor - Special Education981,000 ISK+110%
Psychology Teacher821,000 ISK+77%
Public Management Assistant Professor785,000 ISK+69%
School Counselor703,000 ISK+52%
Science Educator540,000 ISK+16%
Science Laboratory Assistant511,000 ISK+10%
Science Teacher570,000 ISK+23%
Secondary Mathematics Teacher586,000 ISK+26%
Secondary School Teacher532,000 ISK+15%
Special Education Teacher592,000 ISK+28%
Special Needs Assistant459,000 ISK-1%
Statistics Lecturer917,000 ISK+98%
Student Accounts Coordinator503,000 ISK+9%
Student Development Specialist610,000 ISK+32%
Student Employment Specialist578,000 ISK+25%
Student Services506,000 ISK+9%
Student Support Manager627,000 ISK+35%
Substitute Teacher463,000 ISK-0%
Teacher488,000 ISK+5%
Teacher Aide435,000 ISK-6%
Teacher Trainer663,000 ISK+43%
Training and Development Specialist669,000 ISK+44%
Training Coordinator466,000 ISK+1%
Tutor525,000 ISK+13%
University Teacher976,000 ISK+110%
Vocational Education Teacher544,000 ISK+17%

Salary Comparison By City

CityAverage Salary
Reykjavik504,000 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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