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Customer Service Manager Average Salary in Iceland 2022

How much money does a Customer Service Manager make in Iceland?


Average Monthly Salary
902,000 ISK
( 10,800,000 ISK yearly)

LOW
415,000
ISK
AVERAGE
902,000
ISK
HIGH
1,430,000
ISK

A person working as a Customer Service Manager in Iceland typically earns around 902,000 ISK per month. Salaries range from 415,000 ISK (lowest) to 1,430,000 ISK (highest).

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

Customer Service Manager Salary Distribution in Iceland

Median and salary distribution monthly Iceland Customer Service Manager
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The median, the maximum, the minimum, and the range

  • Salary Range

    Customer Service Manager salaries in Iceland range from 415,000 ISK per month (minimum salary) to 1,430,000 ISK per month (maximum salary).

  • Median Salary

    The median salary is 975,000 ISK per month, which means that half (50%) of people working as Customer Service Manager(s) are earning less than 975,000 ISK while the other half are earning more than 975,000 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 Customer Service Manager(s) are earning less than 625,000 ISK while 75% of them are earning more than 625,000 ISK. Also from the diagram, 75% of Customer Service Manager(s) are earning less than 1,300,000 ISK while 25% are earning more than 1,300,000 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

Customer Service Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Iceland Customer Service Manager
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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 Customer Service Manager salaries by experience level and this is what we found.

A Customer Service Manager with less than two years of experience makes approximately 471,000 ISK per month.

While someone with an experience level between two and five years is expected to earn 629,000 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 930,000 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, Customer Service Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 1,130,000 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 1,240,000 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 1,340,000 ISK per month, 8% more than people with fifteen to twenty years of experience.


Customer Service Manager average salary change by experience in Iceland

0 - 2 Years
471,000 ISK
2 - 5 Years+34%
629,000 ISK
5 - 10 Years+48%
930,000 ISK
10 - 15 Years+22%
1,130,000 ISK
15 - 20 Years+9%
1,240,000 ISK
20+ Years+8%
1,340,000 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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Customer Service Manager Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Customer Service Manager(s) who have the same experience but different education levels.

Salary comparison by education level monthly Iceland Customer Service Manager
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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 Customer Service Manager salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Customer Service Manager is 578,000 ISK per month.

While someone with a Certificate or Diploma gets a salary of 680,000 ISK per month, 18% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 986,000 ISK per month, 45% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 1,290,000 ISK per month, 31% more than someone with Bachelor's Degree.


Customer Service Manager average salary difference by education level in Iceland

High School
578,000 ISK
Certificate or Diploma+18%
680,000 ISK
Bachelor's Degree+45%
986,000 ISK
Master's Degree+31%
1,290,000 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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Customer Service Manager Salary Comparison By Gender

Salary comparison by gender monthly Iceland Customer Service Manager
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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 Customer Service Manager employees in Iceland earn 5% more than their female counterparts on average.

Male
923,000 ISK
Female-4%
882,000 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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Customer Service Manager Average Annual Salary Increment Percentage in Iceland

How much are annual salary increments in Iceland for Customer Service Manager(s)? How often do employees get salary raises?

Customer Service Manager

Customer Service Manager(s) in Iceland are likely to observe a salary increase of approximately 7% every 31 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Iceland Customer Service Manager
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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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Customer Service Manager Bonus and Incentive Rates in Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Customer Service Manager
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A Customer Service Manager is considered to be a high 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.

33% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 67% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
67%
No Bonus
33%

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.

Customer Service Manager Average Hourly Wage in Iceland


5,210 ISK per hour

The average hourly wage (pay per hour) in Iceland is 5,210 ISK. This means that the average Customer Service Manager in Iceland earns approximately 5,210 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.

Customer Service Manager VS Other Jobs

Salary Comparison Between Customer Service Manager and Customer Service and Call Center monthly Iceland
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The average salary for Customer Service Manager is 92% more than that of Customer Service and Call Center. Also, Customer Service and Call Center salaries are 31% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Business Support Specialist419,000 ISK-54%
Call Center Advisor327,000 ISK-64%
Call Center Manager826,000 ISK-8%
Call Center Quality Analyst506,000 ISK-44%
Call Center Representative252,000 ISK-72%
Call Center Scheduler293,000 ISK-68%
Call Center Scheduling Manager424,000 ISK-53%
Call Center Supervisor326,000 ISK-64%
Call Center Team Leader434,000 ISK-52%
Client Engagement Specialest438,000 ISK-51%
Client Executive326,000 ISK-64%
Client Liaison Officer237,000 ISK-74%
Client Relations Manager852,000 ISK-6%
Client Service Analyst483,000 ISK-46%
Client Service Representative251,000 ISK-72%
Client Strategy Specialist492,000 ISK-45%
Contracts Specialist406,000 ISK-55%
Customer Care Representative251,000 ISK-72%
Customer Experience Analyst303,000 ISK-66%
Customer Experience Manager862,000 ISK-4%
Customer Experience Specialist538,000 ISK-40%
Customer Fulfillment Specialist490,000 ISK-46%
Customer Insights Analyst513,000 ISK-43%
Customer Problem Manager523,000 ISK-42%
Customer Service Advisor520,000 ISK-42%
Customer Service Associate245,000 ISK-73%
Customer Service Executive602,000 ISK-33%
Customer Service Manager902,000 ISK-0%
Customer Service Officer236,000 ISK-74%
Customer Service Representative250,000 ISK-72%
Customer Service Supervisor384,000 ISK-57%
Customer Service Team Leader560,000 ISK-38%
Customer Service Trainer460,000 ISK-49%
Customer Success Manager823,000 ISK-9%
Customer Success Specialist517,000 ISK-43%
Dispute Resolution Specialist434,000 ISK-52%
Guest Service Agent204,000 ISK-77%
Inbound Sales Representative253,000 ISK-72%
Internet Banking Supervisor787,000 ISK-13%
Logistics Coordinator281,000 ISK-69%
Operations Support Manager710,000 ISK-21%
Real Time Analyst469,000 ISK-48%
Regional Account Manager782,000 ISK-13%
Service Delivery Manager859,000 ISK-5%
Service Writer210,000 ISK-77%
Sourcing Assistant174,000 ISK-81%
Telephone Operator194,000 ISK-79%
Vendor Administration Specialist323,000 ISK-64%
Workforce Manager525,000 ISK-42%

Salary Comparison By City

CityAverage Salary
Reykjavik950,000 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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