The average gross monthly wages in Iceland stand at €4,969, as of 2018, which amounts to an annual salary of €59,628 before taxes and withholdings. This is the most recent available data from the country’s National Statistics Agency. After accounting for taxes and social contributions, the average net monthly income of workers in Iceland is €3,377, translating to €40,524 per year.
Average wages in Iceland at a glance:
- Gross monthly wages: €4,969
- Net monthly wages: €3,377
- Gross annual wages: €59,628
- Net annual wages: €40,524
- Rank in Europe: 5th
In terms of average wages, Iceland holds the 5th position among European countries. However, when considering the cost of living and purchasing power specific to Iceland, the real net average wages are adjusted to €3,296 per month, or €39,552 annually. This adjusted figure provides a more accurate reflection of the actual spending power of the average wages in Iceland.
Average salaries will vary depending on the profession, as well as the specific location. Jobs in large cities and major business hubs tend to pay more, but also come with a higher cost of living.
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Methodology:
- Data sources: National Office of Statistics and other official sources from the country, as cited by Wikipedia.
- All amounts are presented in Euros and valid as of the date of this report.
- Annual average wages are calculated based on published monthly wages.
- You are granted permission to use the data in this report, with proper credit and linking to My Dolce Casa.
