How much money does a person working in Engineering make in Iceland?
Average Monthly Salary
583,000 ISK
( 6,990,000 ISK yearly)
LOW
184,000
ISK
AVERAGE
583,000
ISK
HIGH
1,230,000
ISK
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
A person working in Engineering in Iceland typically earns around 583,000 ISK. Salaries range from 184,000 ISK (lowest average) to 1,230,000 ISK (highest average, actual maximum salary is higher).
Salary Variance
The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Engineering domain in Iceland exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.
Salaries for specific jobs
Engineering | |
3D Printing Engineer | 527,000 ISK |
Acoustics Engineer | 546,000 ISK |
Assembly Engineering Technician | 442,000 ISK |
Assistant Chief Engineer | 641,000 ISK |
|
Associate Engineer | 516,000 ISK |
AutoCAD Drafter | 343,000 ISK |
Autocad Operator | 359,000 ISK |
Automation Engineer | 607,000 ISK |
Automation Engineer | 632,000 ISK |
Avionic System Support Engineer | 537,000 ISK |
Biochemical Engineer | 546,000 ISK |
BMS Engineer | 515,000 ISK |
Bridge and Lock Tender | 312,000 ISK |
Broadcast Engineer | 540,000 ISK |
CAD Design Engineer | 618,000 ISK |
CAD Designer | 375,000 ISK |
CAE Engineer | 585,000 ISK |
Ceramics Engineer | 524,000 ISK |
Chemical Engineer | 579,000 ISK |
Civil Drafter | 346,000 ISK |
Civil Engineer | 591,000 ISK |
Civil Site Engineer | 581,000 ISK |
Civil Technician | 342,000 ISK |
Cognitive Engineer | 547,000 ISK |
Commissioning Engineer | 536,000 ISK |
Communications Engineer | 596,000 ISK |
Condition Monitoring Engineer | 495,000 ISK |
Contract Associate Engineer | 556,000 ISK |
Contract Engineer | 556,000 ISK |
Control Systems Engineer | 570,000 ISK |
Controls Engineer | 574,000 ISK |
Controls Software Engineer | 510,000 ISK |
Corrosion Engineer | 525,000 ISK |
Design Engineer | 585,000 ISK |
Director of Engineering | 1,170,000 ISK |
Drafter | 353,000 ISK |
Drafting Manager | 649,000 ISK |
Drilling Engineer | 556,000 ISK |
Drilling Foreman | 171,000 ISK |
Electrical Draughtsman | 281,000 ISK |
Electrical Engineer | 628,000 ISK |
Electrical Engineering Manager | 820,000 ISK |
Electromechanical Engineering Technologist | 644,000 ISK |
Electromechanical Equipment Assembler | 314,000 ISK |
Energy Engineer | 582,000 ISK |
Engine Assembler | 265,000 ISK |
Engineer | 602,000 ISK |
Engineering Account Manager | 689,000 ISK |
Engineering Chief Designer | 644,000 ISK |
Engineering Consultant | 798,000 ISK |
Engineering Key Account Manager | 789,000 ISK |
Engineering Lab Technician | 572,000 ISK |
Engineering Manager | 831,000 ISK |
Engineering Planning Manager | 822,000 ISK |
Engineering Production Manager | 1,050,000 ISK |
Engineering Project Analyst | 703,000 ISK |
Engineering Project Coordinator | 695,000 ISK |
Engineering Project Director | 1,200,000 ISK |
Engineering Project Leader | 764,000 ISK |
Engineering Project Manager | 794,000 ISK |
Engineering Research and Development Manager | 950,000 ISK |
Engineering Safety Coordinator | 449,000 ISK |
Engineering Sales Manager | 770,000 ISK |
Engineering Technician | 440,000 ISK |
Engineering Technologist | 465,000 ISK |
Environmental Engineer | 558,000 ISK |
Equipment Engineer | 519,000 ISK |
Equipment Engineering Manager | 749,000 ISK |
Estimator | 502,000 ISK |
Fabrication Specialist | 415,000 ISK |
Fabricator | 266,000 ISK |
Facade Engineer | 588,000 ISK |
Fiber Analyst | 332,000 ISK |
Field Engineer | 590,000 ISK |
Field Engineering Manager | 959,000 ISK |
Fire Engineer | 571,000 ISK |
Fitter and Turner | 182,000 ISK |
Forestry Strategic Planner | 650,000 ISK |
Generation Engineer | 558,000 ISK |
Genetic Engineer | 658,000 ISK |
Geological Engineer | 573,000 ISK |
Geotechnical Engineer | 603,000 ISK |
Heavy Equipment Mechanic | 316,000 ISK |
Highway Engineer | 565,000 ISK |
HSE Professional | 513,000 ISK |
Human Machine Interface Engineer | 526,000 ISK |
HVAC Engineer | 602,000 ISK |
HVAC Supervisor | 551,000 ISK |
Industrial Engineer | 544,000 ISK |
Industrial Engineering Technologist | 564,000 ISK |
Instrument Engineer | 570,000 ISK |
Instrument Technician | 325,000 ISK |
Instrumentation and Control Engineer | 584,000 ISK |
Instrumentation Designer | 499,000 ISK |
Instrumentation Engineer | 572,000 ISK |
Instrumentation Manager | 583,000 ISK |
Irrigation Engineer | 549,000 ISK |
Licensed Aircraft Engineer | 636,000 ISK |
Locomotive Engineer | 530,000 ISK |
Maintenance Engineer | 529,000 ISK |
Maintenance Fitter | 207,000 ISK |
Maintenance Manager | 583,000 ISK |
Manufacturing Engineer | 543,000 ISK |
Marine Engineer | 566,000 ISK |
Materials Engineer | 551,000 ISK |
Materials Researcher | 556,000 ISK |
Materials Technician | 413,000 ISK |
Mechanical and Electrical Engineer | 593,000 ISK |
Mechanical Design Engineer | 623,000 ISK |
Mechanical Designer | 504,000 ISK |
Mechanical Engineer | 598,000 ISK |
Mechanical Engineering Manager | 787,000 ISK |
Mechanical Inspector | 576,000 ISK |
Mechatronics Engineer | 636,000 ISK |
Mining Engineer | 589,000 ISK |
Nanotechnology Engineer | 597,000 ISK |
Natural Language Processing Engineer | 619,000 ISK |
Oil and Petrochemical Engineer | 610,000 ISK |
Optical Engineer | 550,000 ISK |
Optical Instrument Assembler | 287,000 ISK |
PCB Assembler | 219,000 ISK |
Photonics Engineer | 610,000 ISK |
Photonics Technician | 497,000 ISK |
Pipeline Engineer | 541,000 ISK |
Piping Designer | 321,000 ISK |
Piping Engineer | 540,000 ISK |
Planning Engineer | 592,000 ISK |
Pressure Vessel Inspector | 286,000 ISK |
Principal Cost Engineer | 575,000 ISK |
Principal Engineer | 585,000 ISK |
Principal Support Engineer | 584,000 ISK |
Process Engineer | 553,000 ISK |
Process Operator | 334,000 ISK |
Product Development Engineer | 581,000 ISK |
Product Development Technician | 412,000 ISK |
Product Engineer | 580,000 ISK |
Product Safety Engineer | 567,000 ISK |
Production Engineer | 582,000 ISK |
Project Engineer | 589,000 ISK |
Proposal Manager | 755,000 ISK |
Purchasing Engineer | 510,000 ISK |
Quality Assurance Engineer | 551,000 ISK |
Rail Engineer | 560,000 ISK |
Regional Field Engineer | 594,000 ISK |
Remote Sensing Engineer | 587,000 ISK |
Robotics Engineer | 648,000 ISK |
Robotics Technician | 469,000 ISK |
Safety Engineer | 554,000 ISK |
Safety Inspector | 429,000 ISK |
Safety Manager | 716,000 ISK |
Safety Officer | 302,000 ISK |
Sales Engineer | 631,000 ISK |
Scheduling Engineer | 502,000 ISK |
Security Engineer | 615,000 ISK |
Service Engineer | 624,000 ISK |
Smart Home Engineer | 609,000 ISK |
Solar Engineer | 624,000 ISK |
Staff Engineer | 562,000 ISK |
Static Equipment Engineer | 556,000 ISK |
Stationary Engineer | 504,000 ISK |
Stress Engineer | 520,000 ISK |
Structural Analysis Engineer | 548,000 ISK |
Structural Designer | 530,000 ISK |
Structural Engineer | 548,000 ISK |
Structural Technician | 358,000 ISK |
Subsea Engineer | 677,000 ISK |
Supply Chain Specialist | 588,000 ISK |
Surveyor | 448,000 ISK |
Technical Affairs Officer | 295,000 ISK |
Technical Assistant | 294,000 ISK |
Technical Engineer | 515,000 ISK |
Technical Support Engineer | 495,000 ISK |
Tender Engineer | 507,000 ISK |
Test Development Engineer | 549,000 ISK |
Test Engineer | 553,000 ISK |
Transportation Engineer | 526,000 ISK |
Urban Engineer | 571,000 ISK |
Validation Engineer | 535,000 ISK |
Verification Engineer | 564,000 ISK |
Wastewater Engineer | 580,000 ISK |
Wind Energy Engineer | 596,000 ISK |
Wind Energy Operations Manager | 780,000 ISK |
Wireless Engineer | 624,000 ISK |
Work Planner | 393,000 ISK |
Engineering Jobs Pay Scale and Salaries in Iceland
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/engineering/median-and-salary-distribution-monthly-iceland-engineering.jpg Salary Structure and Pay Scale Comparison
5% of people earn
625,000 ISK or more
10% of people earn
517,000 to 625,000 ISK
20% of people earn
278,000 ISK or less
65% of people earn
278,000 to 517,000 ISK
Minimum Salary 184,000 ISK |
Median 544,000 ISK |
Maximum 1,230,000 ISK |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
All salary figures displayed here are per month except when noted otherwise.
Salary Range, Minimum Wage, and Starting Salary
Salaries in Engineering in Iceland range from 184,000 ISK (starting average salary) to 1,230,000 ISK (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.
Median Salary
The median income in the field of Engineering is 544,000 ISK, implying that half of the workforce in Iceland earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.
Percentiles and Salary Scale
Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Engineering in Iceland earn less than 407,000 ISK, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 673,000 ISK, while 25% earn more than that.
Pay Scale Structure
Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Engineering in Iceland. The analysis revealed that roughly 65% of all reported salaries fell within the range of 278,000 ISK to 517,000 ISK. Approximately 20% of salaries were below the 278,000 ISK mark, while 10% ranged from 517,000 ISK to 625,000 ISK. Only 5% of individuals earned a gross salary of 625,000 ISK or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg 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 in Engineering in Iceland 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.
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.
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.
“ On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark. ”
Salary Comparison By Education
How does the education level affect your salary?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg 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.
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 degree levels across many jobs in Engineering in Iceland, below are our findings.
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 certificate 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 3,450,000 ISK to 10,300,000 ISK and lasts approximately two years. That is quite an investment.
Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.
Salary and Compensation Comparison By Gender / Engineering / Iceland
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/engineering/salary-comparison-by-gender-monthly-iceland-engineering.jpg Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Engineering in Iceland, the average difference between the salary of male and female employees is 5%.
Male | | 596,000 ISK |
Female | -4% | 569,000 ISK |
Percentage increase and decrease are relative to the previous value
Salary Comparison By Gender in Iceland for all Careers
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/salary-comparison-by-gender-monthly-iceland.jpg
Average Annual Salary Increment Percentage / Engineering / Iceland
How much are annual salary increments in Iceland for individuals working in Engineering? How often do employees get salary raises?
Professionals working in Engineering 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.
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/engineering/annual-salary-increment-rate-iceland-engineering.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/annual-salary-increment-rate-iceland.jpg The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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%.”
Worldwide Salary Raises: All Countries and All Jobs
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Engineering / Iceland
How much and how often are bonuses being awarded?Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/engineering/annual-salary-bonus-rate-iceland-engineering.jpg
61% of surveyed staff in Engineering 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 BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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.
Hourly Average Wage / Engineering / Iceland
3,360 ISK
per hour The average hourly wage (pay per hour) in Engineering in Iceland is 3,360 ISK.This is the rate they get paid for every worked hour.
Hourly Wage = Annual Salary / ( 52 x 5 x 8 )
About The Hourly Pay Rate
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 fixed 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.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working in Engineering in Iceland is 1,060 ISK. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary Comparison By City
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Iceland is 25% on average across all career fields.
Private Sector | | 614,000 ISK |
Public Sector | +25% | 765,000 ISK |
Percentage increase and decrease are relative to the previous value
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary in Engineering in Iceland?
A good and competitive compensation would range anywhere between 544,000 ISK and 673,000 ISK. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for jobs in Engineering in Iceland ranges from 184,000 ISK to 407,000 ISK. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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