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Accounting Assistant Average Salary in Iceland 2024

How much money does a person working as Accounting Assistant make in Iceland?

Average Monthly Salary
334,000 ISK
( 4,000,000 ISK yearly)

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 as Accounting Assistant in Iceland typically earns around 334,000 ISK. Salaries range from 153,000 ISK (lowest) to 530,000 ISK (highest).

Salary Variance

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

Accounting Assistant Pay Scale and Salaries in Iceland

Median and salary distribution Iceland Accounting Assistant monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
316,000 ISK or more
10% of people earn
277,000 to 316,000 ISK
20% of people earn
191,000 ISK or less
65% of people earn
191,000 to 277,000 ISK
Minimum Salary
153,000 ISK
319,000 ISK
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 for the position Accounting Assistant in Iceland range from 153,000 ISK (starting salary) to 530,000 ISK (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 319,000 ISK, half of the professionals who work as Accounting Assistant in Iceland earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Accounting Assistant in Iceland earn less than 257,000 ISK, while 75% earn more. Similarly, the chart shows that 75% earn less than 367,000 ISK while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Accounting Assistant in Iceland compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 191,000 ISK to 277,000 ISK. About 20% of salaries are below the 191,000 ISK mark, while 10% fall within the range of 277,000 ISK to 316,000 ISK. Only 5% of individuals have salaries exceeding 316,000 ISK.

Salary Comparison by Years of Experience / Accounting Assistant / Iceland

How do experience and age affect pay?

0 - 2 Years
174,000 ISK
2 - 5 Years+34%
233,000 ISK
5 - 10 Years+48%
344,000 ISK
10 - 15 Years+22%
419,000 ISK
15 - 20 Years+9%
457,000 ISK
20+ Years+8%
495,000 ISK
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Iceland Accounting Assistant
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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. We broke down salaries by experience level for people working as Accounting Assistant and this is what we found.

All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 174,000 ISK.

While someone with an experience level between two and five years is expected to earn 233,000 ISK, 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 344,000 ISK, 48% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 419,000 ISK, 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 457,000 ISK, 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 495,000 ISK, 8% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Accounting Assistant / Iceland

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Accounting Assistant.

High School
214,000 ISK
Certificate or Diploma+18%
251,000 ISK
Bachelor's Degree+45%
365,000 ISK
Master's Degree+31%
478,000 ISK
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Iceland Accounting Assistant
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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 salaries by education level for the position Accounting Assistant in order to make a comparison.

Level 1: High School

Employees at this education level have an average salary of 214,000 ISK.

Level 2: Certificate or Diploma

At this level, the average salary becomes 251,000 ISK, 18% more than the previous level.

Level 3: Bachelor's Degree

At this level, the average salary becomes 365,000 ISK, 45% more than the previous level.

Level 4: Master's Degree

At this level, the average salary becomes 478,000 ISK, 31% more than the previous level.

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.

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 to a higher-paying job. The numbers seem to support the theory. 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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Salary and Compensation Comparison By Gender / Accounting Assistant / Iceland

Salary comparison by gender Iceland Accounting Assistant 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? For the people who work as Accounting Assistant in Iceland, the average difference between the salary of male and female employees is 5%.

341,000 ISK
326,000 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 / Accounting Assistant / Iceland

How much are annual salary increments in Iceland for individuals working as Accounting Assistant? How often do employees get salary raises?

Individuals working as Accounting Assistant in Iceland are likely to observe a salary increase of approximately 6% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Iceland Accounting Assistant
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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 / Accounting Assistant / Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Accounting Assistant
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85% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 15% 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
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Average Hourly Wage / Accounting Assistant / Iceland

1,920 ISK per hour

The average hourly wage (pay per hour) for individuals working as Accounting Assistant in Iceland is 1,920 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 as Accounting Assistant in Iceland is 890 ISK. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner347,000 ISK+4%
Account Executive575,000 ISK+72%
Accountant427,000 ISK+28%
Accounting Analyst590,000 ISK+77%
Accounting Assistant334,000 ISK+0%
Accounting Associate339,000 ISK+2%
Accounting Clerk278,000 ISK-17%
Accounting Coordinator417,000 ISK+25%
Accounting Head910,000 ISK+170%
Accounting Manager1,020,000 ISK+210%
Accounting Officer355,000 ISK+6%
Accounting Specialist649,000 ISK+95%
Accounting Supervisor647,000 ISK+94%
Accounting Technician323,000 ISK-3%
Accounting Unit Controller802,000 ISK+140%
Accounts Executive596,000 ISK+79%
Accounts Officer375,000 ISK+12%
Accounts Payable and Receivable Specialist458,000 ISK+37%
Accounts Payable Assistant355,000 ISK+6%
Accounts Payable Associate429,000 ISK+29%
Accounts Payable Clerk357,000 ISK+7%
Accounts Payable Manager949,000 ISK+180%
Accounts Receivable Administrator653,000 ISK+96%
Accounts Receivable Clerk357,000 ISK+7%
Accounts Receivable Financial Analyst673,000 ISK+100%
Accounts Receivable Manager932,000 ISK+180%
Accounts Receivable Team Leader670,000 ISK+100%
Algorithmic Trading Specialist793,000 ISK+140%
Assistant Accountant350,000 ISK+5%
Assistant Accounting Manager864,000 ISK+160%
Assistant Auditor454,000 ISK+36%
Assistant Corporate Controller643,000 ISK+93%
Assistant Finance Manager981,000 ISK+190%
Assistant Financial Controller644,000 ISK+93%
Audit Director1,040,000 ISK+210%
Audit Supervisor872,000 ISK+160%
Auditing Clerk375,000 ISK+12%
Auditing Manager989,000 ISK+200%
Billing Clerk341,000 ISK+2%
Billing Coordinator406,000 ISK+22%
Billing Specialist494,000 ISK+48%
Billing Supervisor725,000 ISK+120%
Bookkeeper312,000 ISK-6%
Bookkeeping Specialist440,000 ISK+32%
Budget Analyst814,000 ISK+140%
Budget Manager974,000 ISK+190%
Business Support Analyst512,000 ISK+53%
Capital Markets Associate684,000 ISK+110%
Cash Flow Analyst712,000 ISK+110%
Cash Management Manager932,000 ISK+180%
Cash Management Officer540,000 ISK+62%
Cashbook Clerk316,000 ISK-5%
Chartered Accountant600,000 ISK+80%
Chief Accountant707,000 ISK+110%
Chief Financial Technology Officer917,000 ISK+170%
Collections Clerk271,000 ISK-19%
Collections Representative413,000 ISK+24%
Collections Specialist478,000 ISK+43%
Corporate Controller742,000 ISK+120%
Corporate Treasurer895,000 ISK+170%
Cost Accountant468,000 ISK+40%
Cost Accounting Manager929,000 ISK+180%
Cost Accounting Supervisor737,000 ISK+120%
Cost Analyst745,000 ISK+120%
Credit and Collection Manager944,000 ISK+180%
Credit and Collection Staff367,000 ISK+10%
Credit and Loans Officer337,000 ISK+1%
Credit Controller625,000 ISK+87%
Credit Manager971,000 ISK+190%
Debt Adviser794,000 ISK+140%
Debt Collector386,000 ISK+16%
Debtors Clerk314,000 ISK-6%
Debtors Controller355,000 ISK+6%
Deputy CFO1,290,000 ISK+290%
Deputy Head of Finance1,290,000 ISK+290%
Derivative Trader807,000 ISK+140%
Director of Finance1,350,000 ISK+300%
E-commerce Accountant466,000 ISK+40%
Economist1,110,000 ISK+230%
Equity Analyst841,000 ISK+150%
Escrow Assistant416,000 ISK+25%
Executive Accountant515,000 ISK+54%
External Auditor666,000 ISK+100%
Finance Administrator533,000 ISK+60%
Finance Analyst816,000 ISK+140%
Finance Associate397,000 ISK+19%
Finance Data Analyst738,000 ISK+120%
Finance Director1,340,000 ISK+300%
Finance Executive1,010,000 ISK+200%
Finance Licensing Clerk334,000 ISK+0%
Finance Licensing Manager883,000 ISK+160%
Finance Licensing Specialist500,000 ISK+50%
Finance Manager1,270,000 ISK+280%
Finance Officer442,000 ISK+32%
Finance President1,320,000 ISK+300%
Finance Relationship Manager1,030,000 ISK+210%
Finance Release Analyst543,000 ISK+63%
Finance Specialist753,000 ISK+130%
Finance Team Leader 1,040,000 ISK+210%
Financial Accountant477,000 ISK+43%
Financial Actuary692,000 ISK+110%
Financial Administrator744,000 ISK+120%
Financial Advisor824,000 ISK+150%
Financial Analyst859,000 ISK+160%
Financial Applications Specialist599,000 ISK+80%
Financial Assistant385,000 ISK+15%
Financial Associate371,000 ISK+11%
Financial Claims Analyst634,000 ISK+90%
Financial Claims Manager838,000 ISK+150%
Financial Claims Supervisor778,000 ISK+130%
Financial Clerk352,000 ISK+6%
Financial Commercial Analyst631,000 ISK+89%
Financial Compliance Analyst770,000 ISK+130%
Financial Compliance Officer722,000 ISK+120%
Financial Consultant630,000 ISK+89%
Financial Controller695,000 ISK+110%
Financial Coordinator421,000 ISK+26%
Financial Customer Service Manager851,000 ISK+160%
Financial Data Scientist848,000 ISK+150%
Financial Dealer and Broker516,000 ISK+55%
Financial Director1,330,000 ISK+300%
Financial Encoder406,000 ISK+22%
Financial Manager1,220,000 ISK+270%
Financial Modelling Analyst818,000 ISK+150%
Financial Operations Manager1,150,000 ISK+240%
Financial Policy Analyst712,000 ISK+110%
Financial Project Manager964,000 ISK+190%
Financial Quantitative Analyst791,000 ISK+140%
Financial Reporting Consultant644,000 ISK+93%
Financial Reporting Manager878,000 ISK+160%
Financial Section Head865,000 ISK+160%
Financial Services Manager1,220,000 ISK+270%
Financial Services Sales Agent507,000 ISK+52%
Financial Technology Consultant715,000 ISK+110%
Financial Wellness Coach932,000 ISK+180%
FinTech Analyst781,000 ISK+130%
Fixed Assets Administrator469,000 ISK+41%
Forensic Accountant519,000 ISK+56%
Fraud Detection Supervisor574,000 ISK+72%
Fraud Prevention Manager949,000 ISK+180%
Fund Accountant444,000 ISK+33%
Grants Coordinator349,000 ISK+5%
Green Finance Analyst724,000 ISK+120%
Group Financial Manager1,340,000 ISK+300%
Internal Auditor635,000 ISK+90%
Internal Control Adviser732,000 ISK+120%
Internal Control Officer405,000 ISK+21%
International Tax Director1,120,000 ISK+240%
Inventory Accountant481,000 ISK+44%
Investment Advisor1,240,000 ISK+270%
Investment Analyst916,000 ISK+170%
Investment Associate759,000 ISK+130%
Investment Broker778,000 ISK+130%
Investment Fund Manager1,010,000 ISK+200%
Investment Operations Manager1,030,000 ISK+210%
Investment Underwriter384,000 ISK+15%
Investor595,000 ISK+78%
Investor Relations Manager926,000 ISK+180%
KYC Team Leader843,000 ISK+150%
Loan Processor369,000 ISK+11%
Management Accountant513,000 ISK+54%
Management Economist1,070,000 ISK+220%
Paymaster353,000 ISK+6%
Payroll Administrator607,000 ISK+82%
Payroll Benefits Coordinator532,000 ISK+59%
Payroll Billing Manager878,000 ISK+160%
Payroll Clerk401,000 ISK+20%
Payroll Manager841,000 ISK+150%
Payroll Officer418,000 ISK+25%
Payroll Specialist499,000 ISK+50%
Payroll Supervisor586,000 ISK+76%
Pensions Administrator487,000 ISK+46%
Personal Financial Advisor660,000 ISK+98%
Pricing Analyst762,000 ISK+130%
Private Equity Analyst779,000 ISK+130%
Project Accountant463,000 ISK+39%
Proposal Development Coordinator409,000 ISK+23%
Quantitative Trader688,000 ISK+110%
Receivables Accountant427,000 ISK+28%
Regulatory Accountant520,000 ISK+56%
Retirement Plan Analyst742,000 ISK+120%
Revenue Management Specialist771,000 ISK+130%
Revenue Recognition Analyst820,000 ISK+150%
Risk Management Director1,100,000 ISK+230%
Risk Management Supervisor904,000 ISK+170%
Staff Accountant432,000 ISK+29%
Tax Accountant448,000 ISK+34%
Tax Administrator510,000 ISK+53%
Tax Advisor720,000 ISK+120%
Tax Analyst719,000 ISK+120%
Tax Associate402,000 ISK+20%
Tax Consultant748,000 ISK+120%
Tax Director1,090,000 ISK+230%
Tax Examiner465,000 ISK+39%
Tax Manager932,000 ISK+180%
Tax Research Manager931,000 ISK+180%
Teller271,000 ISK-19%
Treasury Accountant479,000 ISK+44%
Treasury Analyst794,000 ISK+140%
Underwriter328,000 ISK-2%
Underwriting Assistant308,000 ISK-8%
Vice President of Finance1,280,000 ISK+280%

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 for the job title Accounting Assistant in Iceland?

A good and competitive compensation would range anywhere between 319,000 ISK and 367,000 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 a careers like Accounting Assistant in Iceland ranges from 153,000 ISK to 257,000 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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