What is the average income in Iceland?

Iceland Annual Household Income per Capita reached 52,407.226 USD in Dec 2020, compared with the previous value of 56,042.238 USD in Dec 2019. Iceland Annual Household Income per Capita data is updated yearly, available from Dec 1990 to Dec 2020, with an averaged value of 35,887.331 USD.

What is a good salary in Iceland?

The average salary of 410,000 ISK per month (approximately 3300 USD) puts Iceland's figures among the highest salaries in Europe. Even if the cost of living in the country is high, the purchase power still makes of Iceland an attractive place to be an employee.

What is Iceland's minimum wage?

$8,255.00 USD

Because Iceland does not have a minimum wage, there is no mandatory minimum rate of pay for workers in Iceland. Pay rates must be agreed upon directly with the employer through collective bargaining or other means of negotiating a fair living wage.

How much does the average person make in Iceland?

Wages in Iceland averaged 535846.15 ISK/Month from 2008 until 2020, reaching an all time high of 731000 ISK/Month in 2020 and a record low of 380000 ISK/Month in 2008.

What is cost of living in Iceland?

Family of four estimated monthly costs are 4,309$ (565,304kr) without rent. A single person estimated monthly costs are 1,169$ (153,306kr) without rent. Cost of living in Iceland is, on average, 29.30% higher than in United States. Rent in Iceland is, on average, 20.05% lower than in United States.

How much is the salary in Iceland?

Is healthcare in Iceland free?

State healthcare in Iceland is not completely free. Healthcare costs are covered by the state (through the Icelandic Health Insurance fund) and through patient contributions. Patient contributions are capped each month. Once you've spent a certain amount, your state healthcare is free for the rest of the month.

What job pays the most in Iceland?

What is middle class income in Iceland?

According to Statistics Iceland the average monthly income of Icelanders was 534,000 ISK (5,030 USD/4,290 EUR) in 2017, while the median income was 416,000 ISK (3,910 USD/3,340 EUR). Total income includes wages as well as other sources of income, including income from physical or financial assets.

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, Hafnarfjorour, and Akranes offering the highest wages in the country.

How much is a cleaner paid in Iceland?

How much money does a Cleaner make in Iceland? A person working as a Cleaner in Iceland typically earns around 184,000 ISK per month. Salaries range from 84,700 ISK (lowest) to 293,000 ISK (highest). This is the average monthly salary including housing, transport, and other benefits.

What is the unemployment rate in Iceland?

Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Iceland unemployment rate for 2020 was 5.01%, a 1.5% increase from 2019. Iceland unemployment rate for 2019 was 3.51%, a 0.81% increase from 2018.

Do Icelanders pay heat?

In Reykjavik, the annual cost of heating for a 100 square meter apartment (around 1,080 square feet) and an estimated use of 495 tons of oil equivalent/ annually, the cost is EUR 648 ($724), compared to this – residents of Helsinki, the capital of Finland pay nearly five times the amount or EUR 3,243 ($3,623) per year.

Is there crime in Iceland?

Iceland is considered by many as one of the safest countries in the world to live in, with very low crime and murder rates. For instance, the country has the lowest murder rate in Europe, and only one person was killed on the island in 2019.

Do they speak English in Iceland?

English is taught as a second language in Iceland and almost every Icelander speaks the language fluently. And more so, most Icelanders speak several other languages including Danish, German, Spanish and French and welcome the opportunity to practice their language skills. Hope to see you soon in Reykjavík.

Why is Iceland poor poverty?

Better Policies for Better Lives. Household income has benefited from employment growth and significant wage increases giving it the lowest poverty rate in the OECD. Iceland's poverty rate among the elderly is also particularly low at 2.8% compared to the OECD average of 14.7%.

Does Iceland have a high standard of living?

However, the living standard in Iceland is very high and yet even compared to European countries. According to Statistics Iceland and Eurostat the Icelandic per capita volume index at the level of Gross Product is among the highest in Europe, 29% over the EU25 average.

What is Iceland's poverty rate?

The at-risk-of-poverty rate was 9% in Iceland in 2018, with 31,400 individuals living in households with disposable income below the at-risk-of-poverty threshold. The at-risk-of-poverty rate was lower in Iceland than in the other Nordic countries, where it was between 12% and 16.4%.

Can you work in Iceland only speaking English?

While Icelandic is the official language, appr. 98% of Icelanders speak English fluently, so the latter is enough to start a new life in Iceland. If you are not a native speaker, note that fluency is absolutely required if you want to do anything other than housekeeping or dishwashing.

What jobs are in demand in Iceland?

In particular, the healthcare, construction, IT and tourism sectors are in need of workers. This can be attributed to a number of factors - for instance, disability rates in Iceland are increasing, and new technology is being developed at a faster rate than workers can be trained to use it.

How much do teachers get paid in Iceland?

A person working in Teaching / Education in Iceland typically earns around 729,000 ISK per month. Salaries range from 349,000 ISK (lowest average) to 1,330,000 ISK (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.

Can you use US dollars in Iceland?

Currency: The currency in Iceland is the Icelandic króna (ISK). Many places (restaurants, bars, tourist attractions) will take US dollars, Canadian dollars, Euros, Norwegian, Swedish and Danish currencies. Payment: Icelanders usually pay for everything by credit or debit card.

Can you drink alcohol in Iceland?

You can't just walk into the supermarket and pick up a bottle of wine as you can in most countries. Except for low-alcohol beer, you have to go to special shops called Vinbudin to buy alcohol. The state runs these liquor stores, and they are typically open from 11 am to 6 pm.