Average salary in Iceland

Iceland is an island state that can interest emigrants with a fairly high standard of living and a stable economy. It is not only rich, but also a very beautiful country with many attractions and beautiful nature. Someone may be interested in moving to a permanent place of residence in this particular country.

Living standards and situation in the country

The economic situation in Iceland is stable. 80% of all residents are employed, which is an excellent indicator for most European countries. Ecology and a well-functioning healthcare system allow the inhabitants of this country to live a long and happy life. Almost 90% Icelanders consider themselves lucky.

The average family has their own spacious home and car. The average salary in Iceland is USD 3000-3500 per month. Residents consider this figure more than satisfactory and can live well on this money.

Salaries by occupation in 2021.

The table shows popular occupations and average salaries.

Amounts may vary depending on city, time and other factors.

Minimum

The minimum income threshold for the population is approximately $ 1,170. This amount differs little from the minimum wages in other European countries. Cleaners and other service personnel have the minimum income. Their salary fluctuates from 1150 to 1300 dollars... It is almost impossible to live on this money in Iceland.

Average

The average salary in Iceland is $ 3300 per month. Approximately the same is paid to workers in the automotive industry, marketing, energy, science and education.

These numbers and professions are true for indigenous people with education and work experience. Visitors can count on for 2000-2500 dollars. This is exactly the salary for couriers, security guards and workers in the repair industry.

Maximum

The record holders in the field of earnings are workers associated with power and management, which is quite expected. Bankers and information workers lag slightly behind them. Earning these people starts from the bar at $ 5,000 and goes up to 7,000 per month. With this money, you can live comfortably in the modern conditions of Iceland.

Difference in wages in cities and regions

The capital of Iceland is Reykjavik. Many people think that this is almost the only city on the island. In fact, there are more than 30 of them here. It's just that the population of most of them barely exceeded 1000 people. The most populated cities are located near the capital Reykjavik. For example, the city of Kopavogur with a population of 30 thousand is located just 10 minutes from the capital of Iceland, and there is no clear division between cities.

That is why the cities remote from Reykjavik are of little interest to expatriates. It is much more difficult to find a job there, because there are hundreds, and sometimes thousands of times fewer jobs. Most of the visitors settle in the capital.

Taxation

In this country, there are two types of taxes that are paid by citizens:

1. National income tax. It is fixed at 22.75%. In simple terms, this is income tax.
2. Municipal income tax. The size of this type of tax ranges from 11.2 to 13.3%, which makes the total amount equal to 35.5%.

The tax is pretty decent, but it's worth noting that citizens who receive $ 1,520 or less are not taxed.

Business activities are taxed in the amount37,2 %.

The ratio of salary and living expenses

Life in Iceland is quite expensive. Bread costs from $ 2, the same price per liter of drinking water. The eggs will cost $ 4. Food is much more expensive than in Russia or the CIS countries.

Apartment rental prices fluctuate in the range from 800 to 1300 dollars.

It is very expensive to get medical treatment in this country. Putting a seal in Iceland will cost about 200 dollars... That is why local residents often seek medical help in neighboring countries.

Unemployment Rate and Prospects for Migrants

There are very few vacancies in the country. The chances of getting a job are further reduced when there are competing job seekers among Icelandic or EU citizens. Therefore, migrants have an extremely high risk of being unemployed for a long time after arrival.

Moving to Iceland in order to find work and permanent residence is a rather complicated process. Due to the attitude of the country's government towards emigrants, it will be quite difficult to find a high-paying job. And the prices for housing and food are not the most sparing here.

Nevertheless, many were captivated by the indescribable beauty of these places, someone was bribed by the climate and ecology, and someone liked the local life and hospitable people. These people can replenish that 1 percent of visitors who settled in this fabulous country.