Wages in Iceland increased to 909000 ISK/Month in 2024 from 867000 ISK/Month in 2023. This dataset provides - Iceland Wage Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Between 2014 and 2022 in Iceland, men earned more than women. Whereas the average wage in the country has increased steadily over the past six years for both genders, men earn over 120,000 Icelandic Krona (ISK) more than women. The average earnings of Icelandic men was 932,000 Icelandic Krona in 2022 compared to 625,000 in 2014. For women, the mean income was 808,000 Icelandic Krona in 2022 and 492,000 in 2014.

Among all occupational groups in Iceland, men have higher average wages than women. Managers was the occupational group with the highest average earnings in 2022, with men earning around 1.3 million Icelandic krona per month, compared to women's 1.1 million. Elementary occupations was the group with the lowest average earnings, with men and women earning 480,000 and 480,000 Icelandic krona per month, respectively. There is a significant income gap between the genders in Iceland.

Key information about Iceland Household Income per Capita

• Iceland Annual Household Income per Capita reached 61,901.130 USD in Dec 2022, compared with the previous value of 60,523.130 USD in Dec 2021.
• Iceland Annual Household Income per Capita data is updated yearly, available from Dec 1990 to Dec 2022, with an averaged value of 36,152.955 USD.
• The data reached an all-time high of 71,650.752 USD in Dec 2007 and a record low of 18,156.928 USD in Dec 1994.
• In the latest reports, Retail Sales of Iceland grew 9.708 % YoY in Apr 2023.

CEIC converts Annual Household Income per Capita into USD. Statistics Iceland provides Average Household Income per Capita in local currency. The Central Bank of Iceland average market exchange rate is used for currency conversions.

Between 2014 and 2022 in Iceland, there was a steady increase in average monthly earnings. While the mean income was 563,000 Icelandic Krona in 2014, it rose to 871,000 Krona in 2022, showing an increase of 54 percent over these nine years.

Iceland Average Income: Work data was reported at 4,563.000 ISK th in 2017. This records an increase from the previous number of 4,291.000 ISK th for 2016. Iceland Average Income: Work data is updated yearly, averaging 2,053.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 4,563.000 ISK th in 2017 and a record low of 922.000 ISK th in 1990. Iceland Average Income: Work data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

In Iceland, there is a significant income gap between men and women. Even though the average income of both sexes increased steadily from 2008 to 2021, men have consistently earned around 500 Icelandic Krona more than women every hour. Whereas Icelandic men earned over 4,100 Krona per hour in 2021 compared to 2,110 in 2008, the numbers were respectively close to 3,700 and 1,680 for women, showing that the income gap in Iceland was almost just as high in 2021 as it was 13 years earlier.

Iceland Average Income: Other data was reported at 1,229.000 ISK th in 2017. This records an increase from the previous number of 1,090.000 ISK th for 2016. Iceland Average Income: Other data is updated yearly, averaging 435.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,229.000 ISK th in 2017 and a record low of 126.000 ISK th in 1990. Iceland Average Income: Other data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

In Iceland, people working in the financial and insurance industry had the highest average wages in 2022, earning more than one million Icelandic krona per month. The electricity, gas, steam and air conditioning industry had the second highest average wages. With short of 530,000 Icelandic krona per month, the accommodation and food industry had the lowest average wages in Iceland in 2022.

Iceland Average Income: Capital: Female data was reported at 580.000 ISK th in 2017. This records an increase from the previous number of 470.000 ISK th for 2016. Iceland Average Income: Capital: Female data is updated yearly, averaging 276.500 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,109.000 ISK th in 2007 and a record low of 33.000 ISK th in 1994. Iceland Average Income: Capital: Female data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Iceland Average Income: Total data was reported at 6,418.000 ISK th in 2017. This records an increase from the previous number of 5,910.000 ISK th for 2016. Iceland Average Income: Total data is updated yearly, averaging 2,855.000 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 6,418.000 ISK th in 2017 and a record low of 1,116.000 ISK th in 1990. Iceland Average Income: Total data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Iceland Average Income: Work: Male data was reported at 5,453.000 ISK th in 2017. This records an increase from the previous number of 5,177.000 ISK th for 2016. Iceland Average Income: Work: Male data is updated yearly, averaging 2,650.000 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 5,453.000 ISK th in 2017 and a record low of 1,284.000 ISK th in 1990. Iceland Average Income: Work: Male data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Graph and download economic data for Gross National Income for Iceland (MKTGNIISA646NWDB) from 1960 to 2024 about Iceland, GNI, and income.

The income level in Iceland generally correlates with educational levels across the country; the higher the educational level, the higher the average income. In 2020, people with a doctoral degree or an equivalent education had the highest average income in Iceland, earning 13.8 million Icelandic Krona on average. In contrast, people with a basic educational only earned 5.2 million Icelandic Krona on average in 2020.

Although Iceland was the first country in the world to enforce equal pay for men and women, and despite Iceland being one of the top places in the world to work for women, a gender pay gap still existed in 2022. That year, the gender pay gap favoring the men was the highest among directors and chief executives. On the other hand, female senior government officials received almost the same monthly salary as their male counterparts.

Iceland Average Income: Disposable data was reported at 4,729.000 ISK th in 2017. This records an increase from the previous number of 4,351.000 ISK th for 2016. Iceland Average Income: Disposable data is updated yearly, averaging 2,166.000 ISK th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 4,729.000 ISK th in 2017 and a record low of 923.000 ISK th in 1990. Iceland Average Income: Disposable data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.

Adjusted net national income per capita (annual % growth) in Iceland was reported at 0.94289 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Adjusted net national income per capita (annual % growth) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Graph and download economic data for Bank's Non-Interest Income to Total Income for Iceland (DDEI03ISA156NWDB) from 2000 to 2021 about Iceland, income, banks, and depository institutions.

Iceland: Bank cost to income ratio, in percent: The latest value from 2021 is 46.5 percent, a decline from 51.46 percent in 2020. In comparison, the world average is 54.80 percent, based on data from 133 countries. Historically, the average for Iceland from 2000 to 2021 is 47.63 percent. The minimum value, 5.03 percent, was reached in 2015 while the maximum of 76.9 percent was recorded in 2000.

Iceland Average Income: Work: Female data was reported at 3,426.000 ISK th in 2016. This records an increase from the previous number of 3,099.000 ISK th for 2015. Iceland Average Income: Work: Female data is updated yearly, averaging 1,436.000 ISK th from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 3,426.000 ISK th in 2016 and a record low of 567.000 ISK th in 1990. Iceland Average Income: Work: Female data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.G028: Average Income: by Age and Sex.