In the year 2012 employees’ mean monthly regular salaries for full-time employees were 402 thousand ISK. The most common salaries were between 300-350 thousand ISK and about 18% of the employees received regular salaries in that range. About 65% of the employees had monthly regular salaries less than 400 thousand ISK. Mean monthly regular salaries for men were 436 thousand ISK and 367 thousand for women.

 

Mean monthly total salaries for full-time employees were 488 thousand ISK. Half of the employees received total salaries less than 432 thousand ISK which was the median of total salaries in the year 2012. About 30% of employees had total salaries ranging from 350-450 thousand ISK. Mean monthly total salaries for men were 548 thousand ISK and 425 thousand for women. The number of paid weekly hours was 43.1.


 
Highest salaries in Financial and insurance activities and Electricity, gas, and steam supply
The average regular salaries were highest in the economic activity of Financial and insurance activities (K) or 584 thousand ISK. Regular salaries were lowest in the economic activity of Education (P) or 346 thousand ISK on average.

Note: Manufacturing (C), Electricity, gas, steam, and air conditioning supply (D), 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 average total regular salaries were highest in the economic activity of Electricity, gas, and steam supply (D) or 651 thousand ISK.


 


Earnings by sector
Mean monthly regular salaries in the private sector were 423 thousand ISK for full-time employees. About half of the employees received regular salaries under 354 thousand ISK which was the median earnings. Mean monthly regular salaries in the public sector were 378 thousand ISK and the median was 352 thousand ISK.


 
Mean monthly total salaries in the private sector were 510 thousand ISK in the year 2012 and 463 thousand ISK in the public sector. The most common salaries were between 350-400 thousand ISK. About 14% employees in the private sector received total salaries in that range and 17% in the public market.

Mean weekly hours paid were 43.2 in the private sector and 42.9 in the public sector.

 


The data presented is from the Icelandic Survey on Wages, Earnings and Labour Cost and cover about 70 thousand employees. Further information on earnings and distribution of earnings can be found on Statistics Iceland website under Statistics.

The Icelandic Survey on Wages, Earnings and Labour Cost is a sample survey of enterprises with 10 or more employees. Data is received monthly covering all employees. Data is based on the following economic activities: Manufacturing (C), Electricity, gas, steam, and air conditioning supply (D), 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). 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.

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.

Statistiscs