Thursday - 8 May 2014
Monthly regular salaries were 436 thousand ISK in the year 2013
In the year 2013 employees’ mean monthly regular salaries for full-time employees were 436 thousand ISK. The most common salaries were between 250-300 thousand ISK and about 17% of the employees received regular salaries in that range. About 75% of the employees had monthly regular salaries less than 500 thousand ISK. Mean monthly regular salaries for men were 475 thousand ISK and 393 thousand for women.
Mean monthly total salaries for full-time employees were 526 thousand ISK. The most common salaries were between 400-450 thousand ISK and about 14% of the employees received total salaries in that range About 60% of the employees had monthly total salaries less than 500 thousand ISK. Mean monthly total salaries for men were 591 thousand ISK and 457 thousand for women.
Notes: The rectangle is defined by lower and upper quartile and divided by the median. The bars are defined by the 1st and 9th quartile.
Salaries of men were more widely distributed than salaries of women. The median was lower than the mean in all instances and therefore, more employees had salaries under the mean than over the mean. This may be explained partly by the fact that collective agreements set minimum wages but no maximum wages. Salaries of women were lower than salaries of men.
Regular salaries highest in the private sector and total salaries highest in the central government
Mean monthly regular salaries in the private sector were 467 thousand ISK for full-time employees and mean monthly total salaries were 556 thousand ISK. Mean monthly regular salaries in the public sector were 397 thousand ISK and the total salaries were 489 thousand ISK. When breaking the public sector down to the central government and the local government mean regular monthly salaries for the central government were 438 thousand ISK and total salaries were 570 thousand ISK. Regular salaries in the local government were 356 thousand ISK and mean monthly total salaries 409 thousand ISK. Only employees paid by the state treasury and the municipalities belong to the public sector. Others are a part of the private sector.
Notes: Regular salaries (rs), total salaries (ts). The rectangle is defined by lower and upper quartile and divided by the median. The bars are defined by the 1st and 9th quartile.
Highest salaries in Financial and insurance activities and Electricity, gas, and steam supply
The mean regular salaries were highest in the economic activity of Financial and insurance activities (K) 653 thousand ISK in 2013. The total regular salaries were highest in the economic activity of Electricity, gas, and steam supply (D) or 702 thousand ISK. Salaries were lowest in the economic activity of Education (P) were regular salaries were 360 thousand ISK on average and mean monthly total salaries were 416 thousand ISK.
Notes: Regular salaries (rs), total salaries (ts). The rectangle is defined by lower and upper quartile and divided by the median. The bars are defined by the 1st and 9th quartile. Manufacturing (C), Electricity, gas, steam, and air conditioning supply (D), Water supply; sewerage, waste management and remediation activities (E), Construction (F), Wholesale and retail trade; repair of motor vehicles (G), Transportation and storage (G), Information and communication (J), Financial and insurance activities (K), Public administration and defence; compulsory social security (O), Education (P), Human health and social work activities (Q).
The distribution of salaries is greatest in the economic activity of Financial and insurance activities (K). The distribution is smallest in the economic activity of Education (P). The difference between regular salaries and total salaries was greatest in the economic activities of electricity and steam supply (D), water supply (E) and construction (F). The difference between regular salaries and total salaries can partly be explained by overtime earnings and irregular payments. A special notice has to be made for the economic activities J, O, P, and Q. In J small enterprises and enterprises in the IT business are missing. Only employees in the public market are covered in the economic activities O, P, Q.
Further information in new issues of the Statistical Series
The data presented is from the Icelandic Survey on Wages, Earnings and Labour Cost and covers about 70 thousand employees. Further information on earnings and distribution of earnings can be found in two new issues of the statistical series Hagtíðindi on Earnings 2013 and Earnings in the private sector by occupational group 2013 and on Statistics Iceland website under Statistics. The data are preliminary data because data on certain groups are missing from the dataset. For further information on data and methodology refer to the metadata on Statistics Iceland website.
Earnings in the private sector by occupational group 2013 - Statistical Series
Earnings 2013 - Statistiscal Series