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Third Officer Average Salary in Iceland 2024

How much money does a person working as Third Officer make in Iceland?

Average Monthly Salary
190,000 ISK
( 2,280,000 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 Third Officer in Iceland typically earns around 190,000 ISK. Salaries range from 87,400 ISK (lowest) to 302,000 ISK (highest).

Salary Variance

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

Third Officer Pay Scale and Salaries in Iceland

Median and salary distribution Iceland Third Officer monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
180,000 ISK or more
10% of people earn
158,000 to 180,000 ISK
20% of people earn
109,000 ISK or less
65% of people earn
109,000 to 158,000 ISK
Minimum Salary
87,400 ISK
182,000 ISK
302,000 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 Third Officer in Iceland range from 87,400 ISK (starting salary) to 302,000 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 182,000 ISK, half of the professionals who work as Third Officer 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 Third Officer in Iceland earn less than 146,000 ISK, while 75% earn more. Similarly, the chart shows that 75% earn less than 209,000 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 Third Officer in Iceland compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 109,000 ISK to 158,000 ISK. About 20% of salaries are below the 109,000 ISK mark, while 10% fall within the range of 158,000 ISK to 180,000 ISK. Only 5% of individuals have salaries exceeding 180,000 ISK.

Salary Comparison by Years of Experience / Third Officer / Iceland

How do experience and age affect pay?

0 - 2 Years
99,200 ISK
2 - 5 Years+34%
133,000 ISK
5 - 10 Years+48%
196,000 ISK
10 - 15 Years+22%
239,000 ISK
15 - 20 Years+9%
260,000 ISK
20+ Years+8%
282,000 ISK
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Iceland Third Officer
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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 Third Officer 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 99,200 ISK.

While someone with an experience level between two and five years is expected to earn 133,000 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 196,000 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 239,000 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 260,000 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 282,000 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 / Third Officer / Iceland

How do education levels affect salaries?

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

High School
113,000 ISK
Certificate or Diploma+57%
178,000 ISK
Bachelor's Degree+68%
298,000 ISK
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Iceland Third Officer
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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 Third Officer in order to make a comparison.

Level 1: High School

Employees at this education level have an average salary of 113,000 ISK.

Level 2: Certificate or Diploma

At this level, the average salary becomes 178,000 ISK, 57% more than the previous level.

Level 3: Bachelor's Degree

At this level, the average salary becomes 298,000 ISK, 68% more than the previous level.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Third Officer / Iceland

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

194,000 ISK
186,000 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 / Third Officer / Iceland

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

Individuals working as Third Officer in Iceland are likely to observe a salary increase of approximately 3% every 31 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Iceland Third Officer
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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 / Third Officer / Iceland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Iceland Third Officer
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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 / Third Officer / Iceland

1,100 ISK per hour

The average hourly wage (pay per hour) for individuals working as Third Officer in Iceland is 1,100 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 Third Officer in Iceland is 500 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
Courier / Delivery / Transport / Drivers-100%
Bus Driver210,000 ISK+11%
Car Driver 200,000 ISK+5%
CDL Driver243,000 ISK+28%
CDL Truck Driver241,000 ISK+27%
Chauffeur249,000 ISK+31%
Courier Coordinator308,000 ISK+62%
Courier Sales Manager472,000 ISK+150%
Deck Officer223,000 ISK+17%
Delivery Driver189,000 ISK-1%
Delivery Experience Designer612,000 ISK+220%
Delivery Specialist253,000 ISK+33%
Delivery Supervisor288,000 ISK+52%
Dispatcher179,000 ISK-6%
Driver198,000 ISK+4%
Driving Instructor258,000 ISK+36%
E-commerce Fulfillment Specialist557,000 ISK+190%
E-commerce Logistics Manager709,000 ISK+270%
E-commerce Shipping Manager652,000 ISK+240%
Fleet Management Specialist624,000 ISK+230%
Fleet Telematics Specialist660,000 ISK+250%
Food Delivery Driver239,000 ISK+26%
Goods Receiving Expediter205,000 ISK+8%
Green Fleet Manager678,000 ISK+260%
Last-Mile Delivery Specialist628,000 ISK+230%
Limousine Driver250,000 ISK+32%
Micro-Mobility Operator288,000 ISK+52%
On-Demand Delivery Driver247,000 ISK+30%
On-Demand Delivery Manager480,000 ISK+150%
Package Delivery Drone Pilot400,000 ISK+110%
Package Security Analyst460,000 ISK+140%
Parking Inspector243,000 ISK+28%
Reverse Logistics Specialist504,000 ISK+170%
Rideshare Insurance Specialist513,000 ISK+170%
Ridesharing Fleet Manager661,000 ISK+250%
School Bus Driver227,000 ISK+19%
Shuttle Driver203,000 ISK+7%
Smart Transportation Infrastructure Engineer614,000 ISK+220%
Subscription Box Delivery Manager557,000 ISK+190%
Sustainable Transport Planner741,000 ISK+290%
Sustainable Transportation Engineer670,000 ISK+250%
Taxi Driver208,000 ISK+9%
Third Officer190,000 ISK-0%
Train Driver222,000 ISK+17%
Tram Driver215,000 ISK+13%
Transport Officer195,000 ISK+3%
Transportation and Shipping Supervisor306,000 ISK+61%
Transportation Manager817,000 ISK+330%
Truck Driver207,000 ISK+9%
Urban Delivery Optimizer396,000 ISK+110%

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 Third Officer in Iceland?

A good and competitive compensation would range anywhere between 182,000 ISK and 209,000 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 Third Officer in Iceland ranges from 87,400 ISK to 146,000 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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