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Information Technology Average Salaries in Iceland 2024

How much money does a person working in Information Technology make in Iceland?

Average Monthly Salary
708,000 ISK
( 8,490,000 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 in Information Technology in Iceland typically earns around 708,000 ISK. Salaries range from 358,000 ISK (lowest average) to 1,120,000 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 Information Technology 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
Information Technology
2nd Line Systems Engineer588,000 ISK
A/B Testing Specialist540,000 ISK
ABAP Developer584,000 ISK
Advertising Account Planner577,000 ISK
Amazon Web Services Specialist735,000 ISK
Android Developer591,000 ISK
Angular Developer539,000 ISK
Angular JS Programmer546,000 ISK
Application Consultant740,000 ISK
Application Developer629,000 ISK
Application Management Analyst588,000 ISK
Applications Engineer502,000 ISK
Applications Support447,000 ISK
Applications System Specialist554,000 ISK
Artificial Intelligence / Machine Learning Analyst678,000 ISK
Artificial Intelligence / Machine Learning Developer644,000 ISK
Artificial Intelligence / Machine Learning Ethics Officer771,000 ISK
Artificial Intelligence / Machine Learning Governance Specialist851,000 ISK
Artificial Intelligence / Machine Learning Implementation Officer859,000 ISK
Artificial Intelligence / Machine Learning Lead896,000 ISK
Artificial Intelligence / Machine Learning Officer876,000 ISK
Artificial Intelligence / Machine Learning Prompt Specialist584,000 ISK
Artificial Intelligence / Machine Learning Research Scientist818,000 ISK
Artificial Intelligence / Machine Learning Sales676,000 ISK
Artificial Intelligence / Machine Learning Software Engineer671,000 ISK
Artificial Intelligence / Machine Learning Strategist900,000 ISK
Artificial Intelligence / Machine Learning Trainer646,000 ISK
Artificial Intelligence and Machine Learning Specialist724,000 ISK
Artificial Intelligence Developer724,000 ISK
AS400 Programmer647,000 ISK
Assembly Developer634,000 ISK
Assistant Information Technology Manager782,000 ISK
Assistant Information Technology Project Manager774,000 ISK
Assistant Service Delivery Manager751,000 ISK
Avaloq Developer586,000 ISK
Back End Developer656,000 ISK
Big Data Architect768,000 ISK
BigQuery Specialist812,000 ISK
BizTalk Developer 641,000 ISK
Blockchain Associate621,000 ISK
Blockchain Developer579,000 ISK
Blockchain Engineer636,000 ISK
Build and Release Engineer553,000 ISK
Business Intelligence Analyst639,000 ISK
Business Intelligence Consultant927,000 ISK
Business Intelligence Developer682,000 ISK
Business Intelligence Manager946,000 ISK
Business Objects Developer619,000 ISK
Business Process Analyst692,000 ISK
Business Process Consultant688,000 ISK
Business Systems Analyst588,000 ISK
C Developer711,000 ISK
C# Developer656,000 ISK
C++ Developer660,000 ISK
Capacity Planning Manager844,000 ISK
Cassandra Specialist655,000 ISK
Change Administrator549,000 ISK
Chatbot Developer574,000 ISK
ChatGPT Expert553,000 ISK
Chief Artificial Intelligence Officer990,000 ISK
Chief Cloud Officer924,000 ISK
Chief Data Governance Officer931,000 ISK
Chief Data Officer944,000 ISK
Chief Digital Ethics Officer807,000 ISK
Chief Digital Officer913,000 ISK
Chief Information Officer1,050,000 ISK
Chief Information Security Officer951,000 ISK
Chief Innovation Officer853,000 ISK
Chief Privacy Officer723,000 ISK
Client Delivery Manager860,000 ISK
Clojure Developer794,000 ISK
Cloud Compliance Architect647,000 ISK
Cloud Computing Specialist732,000 ISK
Cloud Infrastructure Engineer651,000 ISK
Cloud Migration Specialist701,000 ISK
Cloud Security Architect670,000 ISK
Cloud Services Engineer624,000 ISK
Cloud Solutions Architect733,000 ISK
Cloud-Based Inventory Manager713,000 ISK
CMS Developer546,000 ISK
Computer Animator554,000 ISK
Computer Engineer546,000 ISK
Computer Hardware Engineer546,000 ISK
Computer Network Support Specialist596,000 ISK
Computer Networks Architect663,000 ISK
Computer Operator431,000 ISK
Computer Programmer654,000 ISK
Computer Security Specialist774,000 ISK
Computer Support Specialist513,000 ISK
Computer Technician496,000 ISK
Computer Virtualization Implementation Specialist650,000 ISK
Copy Editor528,000 ISK
Cosmos DB Specialist601,000 ISK
Couch DB Specialist630,000 ISK
CRM Application Administrator583,000 ISK
CRM Manager623,000 ISK
Cross Platform Security Manager880,000 ISK
Curam Developer517,000 ISK
Cyber Security Consultant731,000 ISK
Cyber Security Researcher746,000 ISK
Cyber Security Specialist792,000 ISK
Cybersecurity Analyst676,000 ISK
Cybersecurity Architect675,000 ISK
Cybersecurity Compliance Specialist590,000 ISK
Cybersecurity Engineer627,000 ISK
Cybersecurity Manager860,000 ISK
Dart Developer448,000 ISK
Data Analyst619,000 ISK
Data Analytics Engineer552,000 ISK
Data Architect661,000 ISK
Data Center Specialist626,000 ISK
Data Center Technician555,000 ISK
Data Entry Coordintor325,000 ISK
Data Entry Supervisor427,000 ISK
Data Governance Manager828,000 ISK
Data Management Specialist695,000 ISK
Data Manager837,000 ISK
Data Modeling Analyst660,000 ISK
Data Privacy and Protection Manager771,000 ISK
Data Quality Analyst600,000 ISK
Data Security Analyst651,000 ISK
Data Security Manager899,000 ISK
Data Technician388,000 ISK
Data Visualisation Analyst642,000 ISK
Data Visualization Specialist593,000 ISK
Data Warehousing Manager861,000 ISK
Data Warehousing Specialist625,000 ISK
Data-driven Designer569,000 ISK
Database Administration Manager809,000 ISK
Database Administrator665,000 ISK
Database Analyst690,000 ISK
Database Developer672,000 ISK
Database Report Writer621,000 ISK
Deep Learning Developer601,000 ISK
Delivery Manager648,000 ISK
Delphi Developer703,000 ISK
Desktop Support Engineer446,000 ISK
Desktop Support Technician439,000 ISK
Desktop Virtualization Engineer539,000 ISK
Developer / Programmer613,000 ISK
Developer Evangelist665,000 ISK
Development Architect619,000 ISK
Development Group Supervisor700,000 ISK
Development Manager876,000 ISK
DevOps Engineer659,000 ISK
Digital Ethics Consultant723,000 ISK
Digital Forensics Expert651,000 ISK
Director of Application Development946,000 ISK
Director of Technology1,050,000 ISK
Disaster Recovery Analyst612,000 ISK
Disaster Recovery Specialist577,000 ISK
Django Specialist620,000 ISK
Documentation Specialist552,000 ISK
Driver Developer656,000 ISK
E-Commerce Manager752,000 ISK
E-Commerce Marketing Analyst719,000 ISK
E-Commerce Marketing Manager782,000 ISK
E-Commerce Sales Manager813,000 ISK
E-Commerce Strategy Manager860,000 ISK
E-waste Recycling Specialist582,000 ISK
E-waste Technician478,000 ISK
Edge Computing Engineer575,000 ISK
Elixir Developer844,000 ISK
Embedded Software Developer626,000 ISK
Enterprise Architecture Manager794,000 ISK
Enterprise Infrastructure Architect828,000 ISK
Enterprise Infrastructure Manager972,000 ISK
Erlang Developer829,000 ISK
ERP / CRM Technical Consultant678,000 ISK
ERP Analyst685,000 ISK
ERP Project Manager849,000 ISK
Ethical Hacker571,000 ISK
Financial Systems Manager921,000 ISK
Firebird Specialist598,000 ISK
Flash Developer526,000 ISK
Front End Developer515,000 ISK
Front End Web Developer524,000 ISK
Full Stack Developer629,000 ISK
Functional Analyst622,000 ISK
Game Developer560,000 ISK
GIS Analyst589,000 ISK
GIS Developer588,000 ISK
Global BI Analyst697,000 ISK
Go Developer826,000 ISK
Google Cloud Specialist805,000 ISK
Graphical User Interface ( GUI ) Programmer533,000 ISK
Graphics Programmer525,000 ISK
Graphics Web Designer509,000 ISK
Groovy Developer735,000 ISK
Hardware Design Engineer635,000 ISK
Hardware Engineering Manager912,000 ISK
Hardware Technician507,000 ISK
Haskell Developer698,000 ISK
Head of Development876,000 ISK
Head of Information Technology1,070,000 ISK
Help Desk Analyst582,000 ISK
Help Desk Manager694,000 ISK
Help Desk Support468,000 ISK
Help Desk Technician424,000 ISK
Helpdesk Manager710,000 ISK
IBM DB2 Specialist572,000 ISK
Imaging Programmer532,000 ISK
InfluxDB Specialist584,000 ISK
Informatics Optimization Specialist647,000 ISK
Information Assurance Analyst654,000 ISK
Information Program Director859,000 ISK
Information Security Administrator728,000 ISK
Information Security Analyst776,000 ISK
Information Security Associate637,000 ISK
Information Security Director879,000 ISK
Information Security Engineer650,000 ISK
Information Security Manager947,000 ISK
Information Security Specialist777,000 ISK
Information Services Consultant778,000 ISK
Information Systems Developer606,000 ISK
Information Systems Manager959,000 ISK
Information Systems Penetration Testing Specialist703,000 ISK
Information Systems Vulnerability Assessment Specialist712,000 ISK
Information Technology Administrator521,000 ISK
Information Technology Analyst631,000 ISK
Information Technology Architect638,000 ISK
Information Technology Asset Manager862,000 ISK
Information Technology Business Analyst676,000 ISK
Information Technology Compliance Manager888,000 ISK
Information Technology Consultant779,000 ISK
Information Technology Coordinator500,000 ISK
Information Technology Director1,120,000 ISK
Information Technology Engineer540,000 ISK
Information Technology Executive898,000 ISK
Information Technology Helpdesk418,000 ISK
Information Technology Infrastructure Engineer546,000 ISK
Information Technology Manager1,060,000 ISK
Information Technology Operation Engineer538,000 ISK
Information Technology Operations Manager1,040,000 ISK
Information Technology Product Manager930,000 ISK
Information Technology Project Administrator554,000 ISK
Information Technology Project Coordinator651,000 ISK
Information Technology Project Leader752,000 ISK
Information Technology Project Manager963,000 ISK
Information Technology Quality Assurance Manager737,000 ISK
Information Technology Quality Assurance Team Lead (QA)684,000 ISK
Information Technology Quality Specialist632,000 ISK
Information Technology Risk Manager940,000 ISK
Information Technology Sales Manager840,000 ISK
Information Technology Specialist745,000 ISK
Information Technology Staff440,000 ISK
Information Technology Support442,000 ISK
Information Technology Systems Analyst655,000 ISK
Information Technology Team Leader750,000 ISK
Information Technology Trainer644,000 ISK
Information Technology Training Analyst662,000 ISK
Interface Design Manager782,000 ISK
Interface Designer511,000 ISK
IOS Developer680,000 ISK
Java Developer657,000 ISK
Javascript Developer612,000 ISK
jQuery Specialist652,000 ISK
Kotlin Developer748,000 ISK
Laravel Specialist619,000 ISK
Lead Developer760,000 ISK
Linux Administrator640,000 ISK
Lisp Developer817,000 ISK
Lotus Domino Administrator663,000 ISK
Lotus Notes Developer664,000 ISK
Lua Developer733,000 ISK
Mail Server Administrator582,000 ISK
Major Incident Manager733,000 ISK
Malware Analysis Expert709,000 ISK
Managed Service Specialist626,000 ISK
MariaDB Specialist625,000 ISK
MATLAB Developer666,000 ISK
Microsoft Azure Specialist738,000 ISK
Microsoft SQL Server Specialist670,000 ISK
Microsystems Engineer642,000 ISK
Mobile Developer651,000 ISK
Mobile Interface Designer615,000 ISK
MongoDB Specialist646,000 ISK
Multimedia Developer531,000 ISK
Multimedia Services Manager708,000 ISK
MySQL Specialist558,000 ISK
Neo4J Specialist594,000 ISK
Network Administration Team Lead752,000 ISK
Network Administrator529,000 ISK
Network Analyst559,000 ISK
Network and Infrastructure Manager990,000 ISK
Network Engineer535,000 ISK
Network Engineering Manager697,000 ISK
Network Security Systems Manager743,000 ISK
Network Specialist588,000 ISK
Network Support Engineer527,000 ISK
Network Support Specialist535,000 ISK
Network Technician463,000 ISK
Neural Network Engineer689,000 ISK
NextJs Specialist579,000 ISK
Nodejs Developer670,000 ISK
NT Systems Administrator573,000 ISK
Numerical Control Programmer521,000 ISK
Objective-C Developer701,000 ISK
Online Banking Manager1,000,000 ISK
Online Banking Specialist747,000 ISK
OPS Manager869,000 ISK
Oracle Database Administrator580,000 ISK
Oracle Database Specialist733,000 ISK
Oracle Developer677,000 ISK
Perl Developer515,000 ISK
PHP Developer538,000 ISK
PostgreSQL Specialist632,000 ISK
PowerShell Developer565,000 ISK
Principal Consultant650,000 ISK
Principal Data Engineer603,000 ISK
Program Lead748,000 ISK
Python Developer647,000 ISK
R Language Developer746,000 ISK
React Specialist709,000 ISK
Records Manager507,000 ISK
Redis Specialist605,000 ISK
Remedy Developer527,000 ISK
Reporting Analyst635,000 ISK
Reverse Engineering Expert732,000 ISK
Robotic Process Automation Compliance Analyst610,000 ISK
Robotic Process Automation Developer526,000 ISK
Ruby Developer577,000 ISK
Rust Developer765,000 ISK
Salesforce Administrator578,000 ISK
Salesforce Developer476,000 ISK
SAP Consultant677,000 ISK
SAS Programmer544,000 ISK
Scala Developer803,000 ISK
Scrum Master536,000 ISK
SEO Associate512,000 ISK
SEO Manager772,000 ISK
Server Virtualization Consultant806,000 ISK
Service Delivery Manager789,000 ISK
Service Level Manager819,000 ISK
Service Support Lead638,000 ISK
SharePoint Administrator588,000 ISK
Sharepoint Consultant681,000 ISK
Sharepoint Developer684,000 ISK
Shift Leader682,000 ISK
Snowflake Specialist609,000 ISK
SOA Analyst635,000 ISK
SOC Engineer606,000 ISK
Software Analyst619,000 ISK
Software Architect626,000 ISK
Software Automation Engineer656,000 ISK
Software Developer635,000 ISK
Software Development Manager867,000 ISK
Software Engineer634,000 ISK
Software QA Engineer603,000 ISK
Software Sales566,000 ISK
Software Specialist575,000 ISK
Software Support Engineer535,000 ISK
Software Test Engineer569,000 ISK
Software Tester537,000 ISK
Solutions Architect849,000 ISK
Solutions Consultant704,000 ISK
SQLite Specialist585,000 ISK
Storage Engineer508,000 ISK
Supabase Specialist500,000 ISK
Supervisor428,000 ISK
Support Analyst582,000 ISK
Support Specialist615,000 ISK
Support Team Leader606,000 ISK
Swift Developer769,000 ISK
System Administrator572,000 ISK
Systems Analyst617,000 ISK
Systems Architect633,000 ISK
Systems Consultant777,000 ISK
Systems Engineer528,000 ISK
Systems Integration Analyst631,000 ISK
Systems Integration Specialist917,000 ISK
Systems Integrator636,000 ISK
Technical Analyst540,000 ISK
Technical Consultant731,000 ISK
Technical Manager665,000 ISK
Technical Project Manager826,000 ISK
Technical Sales606,000 ISK
Technical Trainer638,000 ISK
Technical Writer556,000 ISK
Technology Business Analyst654,000 ISK
Technology Director1,050,000 ISK
Technology Specialist817,000 ISK
Technology Vice President864,000 ISK
Teradata Developer515,000 ISK
Test Analyst597,000 ISK
Tester524,000 ISK
Testing Manager809,000 ISK
TIBCO Developer522,000 ISK
TypeScript Developer691,000 ISK
UI Engineer631,000 ISK
UNIX Administrator637,000 ISK
Usability Engineer626,000 ISK
User Experience Consultant655,000 ISK
User Experience Design Expert684,000 ISK
User Experience Designer562,000 ISK
User Experience Researcher689,000 ISK
User Interface Designer624,000 ISK
User Support Engineer542,000 ISK
VB Developer467,000 ISK
VB.NET Developer616,000 ISK
Video Game Designer563,000 ISK
Virtual / Augmented Reality Architect741,000 ISK
Virtual / Augmented Reality Compliance Specialist721,000 ISK
Virtual / Augmented Reality Consultant814,000 ISK
Virtual / Augmented Reality Designer794,000 ISK
Virtual / Augmented Reality Developer699,000 ISK
Virtual / Augmented Reality Director838,000 ISK
Virtual / Augmented Reality Engineer707,000 ISK
Virtual / Augmented Reality Filmmaker854,000 ISK
Virtual / Augmented Reality Game Developer723,000 ISK
Virtual / Augmented Reality Marketing Specialist768,000 ISK
Virtual / Augmented Reality Officer929,000 ISK
Virtual / Augmented reality Sales Consultant938,000 ISK
Virtual / Augmented Reality Simulator Operator651,000 ISK
Virtual / Augmented Reality Specialist798,000 ISK
Virtual / Augmented Reality Technician680,000 ISK
Virtual / Augmented Reality Trainer886,000 ISK
Virtual / Augmented Reality User Experience Designer683,000 ISK
Visual Basic Developer503,000 ISK
Visual Information Specialist594,000 ISK
Voice Interface Designer519,000 ISK
VueJs Specialist637,000 ISK
Web Applications Manager723,000 ISK
Web Content Specialist690,000 ISK
Web Designer540,000 ISK
Web Developer547,000 ISK
Web Editor507,000 ISK
Web Project Manager723,000 ISK
Web Promotions Specialist601,000 ISK
Web Security Administrator624,000 ISK
Web Security Manager900,000 ISK
Web Support Analyst488,000 ISK
Web Writer489,000 ISK
Webmaster512,000 ISK
Windows System Administrator571,000 ISK
Wireless Consultant743,000 ISK
WordPress Specialist619,000 ISK
Writer and Documentor547,000 ISK
Zig Developer810,000 ISK

Information Technology Jobs Pay Scale and Salaries in Iceland

Median and salary distribution Iceland Information Technology monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
691,000 ISK or more
10% of people earn
611,000 to 691,000 ISK
20% of people earn
436,000 ISK or less
65% of people earn
436,000 to 611,000 ISK
Minimum Salary

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 Information Technology in Iceland range from 358,000 ISK (starting average salary) to 1,120,000 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 Information Technology is 682,000 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 Information Technology in Iceland earn less than 561,000 ISK, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 780,000 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 Information Technology in Iceland. The analysis revealed that roughly 65% of all reported salaries fell within the range of 436,000 ISK to 611,000 ISK. Approximately 20% of salaries were below the 436,000 ISK mark, while 10% ranged from 611,000 ISK to 691,000 ISK. Only 5% of individuals earned a gross salary of 691,000 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 Information Technology 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 Information Technology 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 / Information Technology / Iceland

Salary comparison by gender Iceland Information Technology 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 Information Technology in Iceland, the average difference between the salary of male and female employees is 5%.

724,000 ISK
692,000 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 / Information Technology / Iceland

How much are annual salary increments in Iceland for individuals working in Information Technology? How often do employees get salary raises?

Professionals working in Information Technology 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.

Annual Salary Increment Rate Iceland Information Technology
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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 / Information Technology / Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Information Technology
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61% of surveyed staff in Information Technology 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
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.

Hourly Average Wage / Information Technology / Iceland

4,080 ISK per hour

The average hourly wage (pay per hour) in Information Technology in Iceland is 4,080 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 Information Technology in Iceland is 2,060 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

CityAverage Salary
Reykjavik747,000 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 Information Technology in Iceland?

A good and competitive compensation would range anywhere between 682,000 ISK and 780,000 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 Information Technology in Iceland ranges from 358,000 ISK to 561,000 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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