Icelandic employees make an average gross salary of $66,460 a year, $5,537.85/month, and $31.96 an hour. After deductions, the average salary comes down to around $3,278 per month, putting Iceland’s salaries among the highest in Europe.

How expensive is it to live in Iceland?

A single person can expect to spend ISK 137,000 (USD 1,050, EUR 970) a month on food, clothes, medical services, recreation, transport, communication, and other services. For comparable figures for families check this website. Here is the website of Statistics Iceland that shows average household expenditure.

What is the minimum salary in Iceland?

Iceland Minimum Wage Rate 2021 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.

Can I just move to Iceland?

Most will have to obtain a residence permit from the Directorate of Immigration before moving to Iceland if they intend to stay for longer than three months. As part of the application process, you have to prove that you can support yourself while in Iceland.

Is it easy to find jobs in Iceland?

Iceland is notoriously expensive, and living here without paid employment is not just difficult, but seemingly impossible, especially for foreigners who lack contacts and a basic understanding of the local economy. Below are some websites that post available internships overseas: StudyAbroad.com. GoAbroad.com.

What jobs pay well in Iceland?

Surgeons / Doctors. Salary Range: from 1,180,000 ISK to 4,060,000 ISK.

How much does the average person make in Iceland?

What is the average salary in Iceland? Salary in Iceland According to Icelandic government statistics as of July 2020, the average salary in Iceland is 573,000 ISK, about € 3,500 (USD 4.136) at current exchange rates.

How much does it cost to rent a house in Iceland?

But you have to add other taxes such as VAT and the burden on alcoholic beverages. VAT in Iceland is currently 24%. As in any country, the price of a house varies according to the location, type of house, size, year of construction, etc. the Renting average cost is usually around € 300 or USD 350 if it is a shared rental.

What is the GDP per capita of Iceland?

Iceland has the fifth highest GDP per capita in Europe, according to preliminary estimates from Statistics Iceland and Eurostat. GDP volume per capita (based on PPP’s) in Iceland was 30% above the European average in 2017.

Is there a minimum wage in the country of Iceland?

Iceland is one of the least populated countries in Europe. It is also one of the wealthiest in the continent, so let’s analyze what are the ages in this beautiful northern country. Officially, there is no minimum salary in Iceland.