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Executive and Management Average Salaries in Iceland 2024

How much money does a person working in Executive and Management make in Iceland?


Average Monthly Salary
938,000 ISK
( 11,300,000 ISK yearly)

LOW
307,000
ISK
AVERAGE
938,000
ISK
HIGH
1,530,000
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 Executive and Management in Iceland typically earns around 938,000 ISK. Salaries range from 307,000 ISK (lowest average) to 1,530,000 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 Executive and Management 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

Job TitleAverage Salary
Executive and Management
Account Coordinator585,000 ISK
Account Director745,000 ISK
Account Executive734,000 ISK
Account Manager718,000 ISK
Administration Manager714,000 ISK
Administration Officer380,000 ISK
Administration Supervisor594,000 ISK
Administrative Clerk296,000 ISK
Administrative Officer285,000 ISK
Area Director714,000 ISK
Area Manager706,000 ISK
Asset Protection Associate768,000 ISK
Assistant Director781,000 ISK
Assistant General Manager816,000 ISK
Assistant Manager810,000 ISK
Assistant Managing Director904,000 ISK
Assistant Operations Manager890,000 ISK
Assistant Project Manager769,000 ISK
Assistant Section Head637,000 ISK
Assistant to CEO737,000 ISK
Assistant Vice President805,000 ISK
Associate Account Director772,000 ISK
Associate Director804,000 ISK
Bid Manager846,000 ISK
Branch Manager872,000 ISK
Business Development Manager923,000 ISK
Business Operations Associate760,000 ISK
Business Operations Lead783,000 ISK
Campaign Manager867,000 ISK
Catering Coordinator472,000 ISK
Catering Manager736,000 ISK
CEO1,470,000 ISK
Chairman of The Board1,420,000 ISK
Chairman Office Manager930,000 ISK
Chief Commercial Officer1,040,000 ISK
Chief Corporate Officer1,160,000 ISK
Chief Digital Officer987,000 ISK
Chief Digital Strategy Officer1,010,000 ISK
Chief Digital Transformation Officer938,000 ISK
Chief Ethics Officer852,000 ISK
Chief Executive Officer1,520,000 ISK
Chief Financial Officer1,340,000 ISK
Chief Investment Officer1,080,000 ISK
Chief of Staff703,000 ISK
Chief Operating Officer1,140,000 ISK
Chief Privacy Officer889,000 ISK
Chief Resilience Officer1,120,000 ISK
Chief Risk Officer925,000 ISK
Chief Strategy Officer1,250,000 ISK
Chief Trust and Safety Officer954,000 ISK
Client Account Manager854,000 ISK
Client Accounts Officer719,000 ISK
Client Services Manager939,000 ISK
Commercial Director942,000 ISK
Commercial Manager856,000 ISK
Commercial Project Manager759,000 ISK
Commodity Broker582,000 ISK
COO1,100,000 ISK
Corporate Affairs Executive870,000 ISK
Corporate Compliance Director987,000 ISK
Corporate Director1,040,000 ISK
Corporate Officer708,000 ISK
Corporate Partnerships Officer707,000 ISK
Country Manager1,130,000 ISK
Department Head924,000 ISK
Department Manager923,000 ISK
Department Supervisor796,000 ISK
Deputy Director1,070,000 ISK
Deputy Manager1,070,000 ISK
Director1,110,000 ISK
Director of Accreditation1,000,000 ISK
Director of Catering Services899,000 ISK
Director of Client Services960,000 ISK
Director of Facilities Management823,000 ISK
Director of Operations953,000 ISK
Director of Process Simplification763,000 ISK
Director of Product Management961,000 ISK
Director of Project Management1,010,000 ISK
Director of Revenue Management890,000 ISK
Director of Training and Development964,000 ISK
Distribution Manager1,030,000 ISK
Division Manager841,000 ISK
Duty Manager813,000 ISK
Engagement Manager1,030,000 ISK
Executive Director1,480,000 ISK
Executive Manager1,210,000 ISK
Franchise Manager1,260,000 ISK
General Manager1,170,000 ISK
Generational Consultant745,000 ISK
Global Master Data Manager1,050,000 ISK
Global Technical Lead694,000 ISK
Head of Investment961,000 ISK
Head of Middle Office909,000 ISK
Head of Projects969,000 ISK
Head of Strategy1,090,000 ISK
Head of Supply Chain885,000 ISK
Head of Sustainability812,000 ISK
Housing Manager759,000 ISK
HSE Manager769,000 ISK
Innovation Manager808,000 ISK
Key Account Manager794,000 ISK
Knowledge Manager929,000 ISK
Location Manager927,000 ISK
Logistics Executive767,000 ISK
Logistics Manager741,000 ISK
Management Consultant793,000 ISK
Management Executive1,050,000 ISK
Manager966,000 ISK
Managing Director1,200,000 ISK
MIS Executive987,000 ISK
Ocean Services Manager1,020,000 ISK
Online Business Manager1,430,000 ISK
Operational Manager1,010,000 ISK
Operations Analyst842,000 ISK
Operations Assistant697,000 ISK
Operations Director1,130,000 ISK
Operations Executive1,040,000 ISK
Operations Manager1,080,000 ISK
Operations Supervisor867,000 ISK
Planning Director1,060,000 ISK
PMO Manager925,000 ISK
Policy Administration Executive841,000 ISK
Private Sector Executive899,000 ISK
Product Development Manager960,000 ISK
Product Executive835,000 ISK
Production Executive1,010,000 ISK
Production Manager1,020,000 ISK
Production Supervisor809,000 ISK
Program Director975,000 ISK
Program Manager1,060,000 ISK
Programme Coordinator666,000 ISK
Project Control Manager1,020,000 ISK
Project Coordinator624,000 ISK
Project Management Officer703,000 ISK
Project Manager748,000 ISK
Project Portfolio Manager793,000 ISK
Quality Manager806,000 ISK
R/D Director840,000 ISK
Regional Director1,370,000 ISK
Regional Manager1,060,000 ISK
Relationship Manager987,000 ISK
Retail District Manager663,000 ISK
Revenue Manager782,000 ISK
Risk and Capital Manager1,110,000 ISK
Risk Officer744,000 ISK
Safety Manager732,000 ISK
Section Head779,000 ISK
Service Manager806,000 ISK
Shift Supervisor630,000 ISK
Solutions Manager687,000 ISK
Supervisor613,000 ISK
Supply Chain Manager1,070,000 ISK
Surveyor654,000 ISK
Technical Director902,000 ISK
Technical Manager937,000 ISK
Territory Manager991,000 ISK
Validation Manager799,000 ISK
Vice President1,200,000 ISK
Zone Manager1,030,000 ISK


Executive and Management Jobs Pay Scale and Salaries in Iceland

Median and salary distribution Iceland Executive and Management monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
829,000 ISK or more
10% of people earn
702,000 to 829,000 ISK
20% of people earn
421,000 ISK or less
65% of people earn
421,000 to 702,000 ISK
Minimum Salary
307,000
ISK
Median
877,000
ISK
Maximum
1,530,000
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 Executive and Management in Iceland range from 307,000 ISK (starting average salary) to 1,530,000 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 Executive and Management is 877,000 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 Executive and Management in Iceland earn less than 660,000 ISK, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 1,040,000 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 Executive and Management in Iceland. The analysis revealed that roughly 65% of all reported salaries fell within the range of 421,000 ISK to 702,000 ISK. Approximately 20% of salaries were below the 421,000 ISK mark, while 10% ranged from 702,000 ISK to 829,000 ISK. Only 5% of individuals earned a gross salary of 829,000 ISK or higher.

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 in Executive and Management 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.
* 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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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 Executive and Management 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 / Executive and Management / Iceland

Salary comparison by gender Iceland Executive and Management monthly
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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? In the field of Executive and Management in Iceland, the average difference between the salary of male and female employees is 5%.

Male
959,000 ISK
Female-4%
917,000 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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Average Annual Salary Increment Percentage / Executive and Management / Iceland

How much are annual salary increments in Iceland for individuals working in Executive and Management? How often do employees get salary raises?

Professionals working in Executive and Management in Iceland are likely to observe a salary increase of approximately 7% every 26 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Iceland Executive and Management
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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

Annual Salary Increment Rate Iceland
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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

World Average Annual Salary Increment
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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 / Executive and Management / Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Executive and Management
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36% of surveyed staff in Executive and Management reported that they haven't received any bonuses or incentives in the previous year while 64% 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
64%
No Bonus
36%

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.

Hourly Average Wage / Executive and Management / Iceland


5,410 ISK per hour

The average hourly wage (pay per hour) in Executive and Management in Iceland is 5,410 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 Executive and Management in Iceland is 1,770 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

CityAverage Salary
Reykjavik989,000 ISK

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 Executive and Management in Iceland?

A good and competitive compensation would range anywhere between 877,000 ISK and 1,040,000 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 Executive and Management in Iceland ranges from 307,000 ISK to 660,000 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


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