What's the minimum wage in Iceland? (2024)

What's the minimum wage in Iceland?

There is no set minimum wage in Iceland. Instead, each industry uses collective bargaining agreements to determine the minimum wage, other payments, and working conditions. One of the largest unions is the VR (Store and Office Workers' Union).

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What is minimum wage in Iceland per hour?

There is no minimum wage in Iceland.

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Do jobs in Iceland pay well?

Icelandic employees make an average salary of 32 USD per hour, 5,538 USD per month, and 66,460 USD per year. The average salary comes to 3,278 USD per month after deductions. Iceland's average salaries are among the highest in Europe, with Reykjavik, Hafnarfjordur, and Akranes offering the highest wages in the country.

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Is living in Iceland expensive?

Living in Iceland can be both challenging and rewarding. The cost of living is relatively high, especially when it comes to housing, food, and transportation. However, Iceland also has a high standard of living, with excellent healthcare and education systems, a low crime rate, and a strong social safety net.

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What is the average salary in Iceland in US dollars?

A: According to Iceland Statistics, the average salary in Iceland is ISK 635,000 (US 4,370, EUR 4,200) before tax per month, so the offer you received is well above that.

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Is it easy to get a job in Iceland?

As a general rule, foreigners do not have significant difficulty getting jobs in Iceland or Denmark, provided they have the necessary qualifications and skills for the job they are applying for. Both countries have a strong economy and a high standard of living, which attracts many foreign workers.

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How much is rent in Iceland?

Renting In Iceland

The average rent for a one-bedroom flat in Reykjavik is equivalent to 1,700 dollars a month. (But it'll cost more in the city center). So that's a pretty similar rate for most European capital cities, such as London or Paris.

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What jobs pay well in Iceland?

High Paying Iceland Jobs
  • General Dentist. Salary range: $175,300-$283,200 per year. ...
  • Software Engineer. Salary range: $135,700-$195,600 per year. ...
  • Electrical Engineer. Salary range: $93,800-$149,200 per year. ...
  • Mechanical Engineer. Salary range: $92,200-$143,000 per year. ...
  • Medical Technologist. ...
  • Nurse. ...
  • Accountant. ...
  • Truck Driver.

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What job is in demand in Iceland?

Jobs With Skill Shortages In Iceland

There is an increasing demand for jobs in the tourism, hospitality and transportation industries. You can apply for seasonal work in these industries based on your relevant skills and experience in the tourism industry and customer-facing roles.

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What is the main job in Iceland?

Iceland's strong economy is largely thanks to its tourism industry. The country welcomed nearly 700,000 tourists in 2021 - more than double its population of just 330,000.

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Do they speak English in Iceland?

Iceland currently has a population of 376,248 people, of whom around 98% speak English. This means that 368,723 of the Icelandic population can speak English. This figure is very high in comparison to some other countries across Europe. Here are just a couple of the reasons why so many Icelanders can speak English.

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Can I just move to Iceland?

Moving to Iceland as a United States citizen is possible. However, what the country allows is pretty restrictive. If you plan on staying for more than three months, you will need to contact the Directorate of Immigration to apply for a residence permit, and acceptance depends on your reason for staying.

What's the minimum wage in Iceland? (2024)
Are Icelanders friendly?

Icelandic people are known to be warm and friendly, but even the most friendly people still need something to bond over. The most common road to friendship for Icelandic people is over a delicious and refreshing beer.

Does Iceland have free healthcare?

In Iceland, universal access to health care is enshrined in law. As a result the country has no private health insurance and the island's 290,000 residents rely on a national health service—state-run hospitals and primary health care centers—at minimal charge.

What is the equivalent of $100 US to Iceland?

Convert US Dollar to Icelandic Krona
100 USD13,767.7 ISK
500 USD68,838.5 ISK
1,000 USD137,677 ISK
5,000 USD688,385 ISK
6 more rows

What is coldest temperature in Iceland?

The lowest temperatures in the northern part of the island range from around −25 to −30 °C (−13 to −22 °F). The lowest temperature on record is −39.7 °C (−39.5 °F).

Is Iceland looking for immigrants?

By 2030, Iceland anticipates the need for an additional 30,000 international workers, largely driven by the booming tourism sector. With over 2 million tourists flocking to Iceland annually, the local population of 350,000 struggles to meet the demand. Consequently, the call for foreign workers is on a steady rise.

How many hours do they work in Iceland?

In 2021, the average weekly hours worked on the main job in Iceland remained nearly unchanged at around 36.66 hours. But still, the average weekly hours worked reached its lowest value of the observation period in 2021.

How many hours is a full time job in Iceland?

Icelandic law provides a general rule for working hours, defining a full-time job as max. five 8-hour days per week, 40 hours in total. However, the collective agreements of the individual unions define in detail how the working hours of workers should be organised. Any overtime hours should be paid with overtime pay.

Is it cheaper to live in Iceland or the US?

1. Iceland. Numbeo reports that the cost of living in Iceland is about 40.21% higher than that of the United States (rent not included).

Is it difficult to immigrate to Iceland?

If you are not a citizen of the EEA/EPTA, immigrating to Iceland is more challenging, but it's worth the time and effort required. You can become a citizen of Iceland in one of three ways: Marry an Icelander. Attend a university in Iceland.

Can foreigners work in Iceland?

Employment in Iceland

Expats who are not citizens of EU/EEA countries must apply for a work and residence permit in order to work in Iceland. Iceland has a number of growing industries, including software production and tourism, which are contributing to the nation's improving economic prosperity.

What skills are in demand in Iceland?

What are the most in-demand jobs in Iceland? The most in-demand jobs in Iceland are in the tourism, hospitality, and tech industries. There is also a growing demand for skilled workers in the healthcare, engineering, and construction sectors.

Where do most people work in Iceland?

Total number of employed people in each industry in Iceland in 2022
CharacteristicNumber of employees
Public admin., Education and Health/Social activities64,500
Wholesale and retail trade; repair of motor vehicles and motorcycles24,000
Tourism industries22,400
Various specialiced activities18,200
9 more rows
Nov 16, 2023

How do locals afford to live in Iceland?

One option is to seek employment in a high-demand industry such as technology, healthcare, or tourism, which may offer competitive salaries. Additionally, some individuals choose to live in more rural areas where the cost of living may be lower.

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