Laboratory Technician Average Salary in Iceland 2020
How much money does a Laboratory Technician make in Iceland?
LOW
218,000
ISK AVERAGE
475,000
ISK HIGH
755,000
ISK
A person working as a Laboratory Technician in Iceland typically earns around 475,000 ISK per month. Salaries range from 218,000 ISK (lowest) to 755,000 ISK (highest).
This is the average monthly salary including housing, transport, and other benefits. Laboratory Technician salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Laboratory Technician Salary Distribution in Iceland
The median, the maximum, the minimum, and the range
Salary Range
Laboratory Technician salaries in Iceland range from 218,000 ISK per month (minimum salary) to 755,000 ISK per month (maximum salary).
Median Salary
The median salary is 513,000 ISK per month, which means that half (50%) of people working as Laboratory Technician(s) are earning less than 513,000 ISK while the other half are earning more than 513,000 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 Laboratory Technician(s) are earning less than 329,000 ISK while 75% of them are earning more than 329,000 ISK. Also from the diagram, 75% of Laboratory Technician(s) are earning less than 684,000 ISK while 25% are earning more than 684,000 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
Laboratory Technician Salary Comparison by Years of Experience
How does experience and age affect your pay?
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 Laboratory Technician salaries by experience level and this is what we found.
A Laboratory Technician with less than two years of experience makes approximately 248,000 ISK per month.
While someone with an experience level between two and five years is expected to earn 331,000 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 489,000 ISK per month, 48% more than someone with two to five years of experience.
Additionally, Laboratory Technician(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 596,000 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 650,000 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 704,000 ISK per month, 8% more than people with fifteen to twenty years of experience.
Laboratory Technician average salary change by experience in Iceland
| 0 - 2 Years | 248,000 ISK | |
| 2 - 5 Years | +34% | 331,000 ISK |
| 5 - 10 Years | +48% | 489,000 ISK |
| 10 - 15 Years | +22% | 596,000 ISK |
| 15 - 20 Years | +9% | 650,000 ISK |
| 20+ Years | +8% | 704,000 ISK |
Typical Salary Progress for Most Careers
Laboratory Technician Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Laboratory Technician(s) who have the same experience but different education levels.
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 Laboratory Technician salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of a Laboratory Technician is 288,000 ISK per month.
While someone with a Master's Degree gets a salary of 556,000 ISK per month, 93% more than someone having a Bachelor's Degree degree.
Laboratory Technician average salary difference by education level in Iceland
| Bachelor's Degree | 288,000 ISK | |
| Master's Degree | +93% | 556,000 ISK |
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
Laboratory Technician Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Laboratory Technician employees in Iceland earn 5% more than their female counterparts on average.
| Male | 485,000 ISK | |
| Female | -4% | 464,000 ISK |
Salary Comparison By Gender in Iceland for all Careers
Laboratory Technician Average Annual Salary Increment Percentage in Iceland
How much are annual salary increments in Iceland for Laboratory Technician(s)? How often do employees get salary raises?
Laboratory Technician
Laboratory Technician(s) in Iceland are likely to observe a salary increase of approximately 5% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
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
Annual Increment Rate By Industry 2019
| 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 2019. 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
Laboratory Technician Bonus and Incentive Rates in Iceland
How much and how often are bonuses being awarded?
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A Laboratory Technician 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 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: | Example: |
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.
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.
Laboratory Technician Average Hourly Wage in Iceland
2,740 ISK per hourThe average hourly wage (pay per hour) in Iceland is 2,740 ISK. This means that the average Laboratory Technician in Iceland earns approximately 2,740 ISK for every worked hour.
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.
Laboratory Technician VS Other Jobs
The average salary for Laboratory Technician is 45% less than that of Healthcare Technical. Also, Healthcare Technical salaries are 17% less than those of Health and Medical.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Academic Clinician | 1,300,000 ISK |  +170% |
| Admitting Officer | 483,000 ISK | +2% |
| Ambulance Dispatcher | 482,000 ISK | +2% |
| Ambulance Driver | 443,000 ISK |  -7% |
| Ambulance Officer and Paramedic | 520,000 ISK | +10% |
| Ambulatory Services Director | 960,000 ISK | +100% |
| Anatomic Pathology Supervisor | 1,090,000 ISK | +130% |
| Anesthesia Technician | 690,000 ISK | +45% |
| Anesthesiologist | 1,970,000 ISK | +320% |
| Anesthesiology Assistant | 678,000 ISK | +43% |
| Assistant Optometrist | 549,000 ISK | +16% |
| Audiologist | 1,170,000 ISK | +150% |
| Biomedical Engineering Director | 881,000 ISK | +86% |
| Biomedical Engineering Technician | 462,000 ISK | -3% |
| Cardiac Technician | 446,000 ISK | -6% |
| Cardiovascular Specialist | 2,480,000 ISK | +420% |
| Cardiovascular Technologist | 941,000 ISK | +98% |
| Central Sterile Processing Technician | 542,000 ISK | +14% |
| Charge Entry Specialist | 596,000 ISK | +26% |
| Clinical Application Specialist | 630,000 ISK | +33% |
| Clinical Biochemist | 1,080,000 ISK | +130% |
| Clinical Cytogeneticist | 923,000 ISK | +94% |
| Clinical Data Reviewer | 629,000 ISK | +33% |
| Clinical Development Specialist | 785,000 ISK | +65% |
| Clinical Field Associate | 628,000 ISK | +32% |
| Clinical Genetic Technologist | 992,000 ISK | +110% |
| Clinical Microbiologist | 1,210,000 ISK | +150% |
| Clinical Molecular Geneticist | 1,010,000 ISK | +110% |
| Clinical Neuropsychologist | 1,380,000 ISK | +190% |
| Clinical Research Coordinator | 728,000 ISK | +53% |
| Clinical Scientist | 1,240,000 ISK | +160% |
| CME Specialist | 1,060,000 ISK | +120% |
| CT Technologist | 590,000 ISK | +24% |
| Cytogenetic Technologist | 879,000 ISK | +85% |
| Diagnostic Medical Sonographer | 708,000 ISK | +49% |
| Dispensing Optician | 579,000 ISK | +22% |
| Dosimetrist | 836,000 ISK | +76% |
| EKG Technician | 579,000 ISK | +22% |
| Endoscopic Assistant | 543,000 ISK | +14% |
| Endoscopy Technician | 509,000 ISK | +7% |
| Enterostomal Therapist | 820,000 ISK | +73% |
| Epidemiologist | 1,070,000 ISK | +130% |
| FGP Ultrasound Techncian | 531,000 ISK | +12% |
| Health Systems Specialist | 788,000 ISK | +66% |
| Health Technologist | 883,000 ISK | +86% |
| Healthcare Data Analyst | 626,000 ISK | +32% |
| Hearing Aid Specialist | 684,000 ISK | +44% |
| Histotechnologist | 793,000 ISK | +67% |
| Immunologist | 1,200,000 ISK | +150% |
| Industrial Hygienist | 809,000 ISK | +70% |
| Infection Control Coordinator | 590,000 ISK | +24% |
| Infection Control Practitioner | 1,340,000 ISK | +180% |
| Infection Preventionist | 965,000 ISK | +100% |
| Informatics Practice Specialist | 728,000 ISK | +53% |
| Interventional Radiographer | 1,030,000 ISK | +120% |
| Lab Assistant | 505,000 ISK | +6% |
| Laboratory Manager | 903,000 ISK | +90% |
| Laboratory Technician | 475,000 ISK | +0% |
| Low Vision Therapist | 1,160,000 ISK | +140% |
| Mammography Technician | 481,000 ISK | +1% |
| Medical Coder | 452,000 ISK | -5% |
| Medical Courier | 353,000 ISK | -26% |
| Medical Equipment Preparer | 529,000 ISK | +11% |
| Medical Forms Designer | 442,000 ISK | -7% |
| Medical Technologist | 574,000 ISK | +21% |
| MRI Technologist | 497,000 ISK | +5% |
| Music Therapist | 732,000 ISK | +54% |
| Neonatologist | 1,410,000 ISK | +200% |
| Neurodiagnostic Techncian | 526,000 ISK | +11% |
| Neuropsychology Testing Assistant | 467,000 ISK | -2% |
| Nuclear Medical Technician | 690,000 ISK | +45% |
| Nuclear Medicine Technolgoist | 715,000 ISK | +51% |
| Nutrition Assistant | 506,000 ISK | +7% |
| Occupaitional Therapy Assistant | 533,000 ISK | +12% |
| Operating Room Scheduler | 456,000 ISK | -4% |
| Operating Room Services Director | 1,410,000 ISK | +200% |
| Ophthalmic Assistant | 536,000 ISK | +13% |
| Ophthalmic Laboratory Technician | 536,000 ISK | +13% |
| Optician | 1,100,000 ISK | +130% |
| Orthopedic Technician | 526,000 ISK | +11% |
| Orthoptist | 1,430,000 ISK | +200% |
| Orthotist | 1,430,000 ISK | +200% |
| Pathology Assistant | 494,000 ISK | +4% |
| Perfusionist | 1,580,000 ISK | +230% |
| Phlebotomist | 403,000 ISK | -15% |
| Pre Authorization Case Manager | 766,000 ISK | +61% |
| Prosthetist | 1,260,000 ISK | +170% |
| Radiation Therapist | 1,720,000 ISK | +260% |
| Radiation Therapy Technologist | 739,000 ISK | +56% |
| Radiographer | 1,140,000 ISK | +140% |
| Radiography Technologist | 738,000 ISK | +56% |
| Radiologic Technologist | 762,000 ISK | +61% |
| Radiology Technologist | 710,000 ISK | +50% |
| Respiratory Care Practitioner | 1,360,000 ISK | +190% |
| Respiratory Therapist | 1,060,000 ISK | +120% |
| Respiratory Therapy Technician | 599,000 ISK | +26% |
| Sonographer | 763,000 ISK | +61% |
| Sonography Technologist | 708,000 ISK | +49% |
| Speech and Language Pathologist | 1,060,000 ISK | +120% |
| Ultrasonographer | 610,000 ISK | +29% |
| Ultrasound Technologist | 540,000 ISK | +14% |
| Vascular Technologist | 515,000 ISK | +9% |
| X-Ray Technologist | 743,000 ISK | +57% |
Salary Comparison By City
| City | Average Salary |
| Reykjavik | 525,000 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 |
