Biofabrication Specialist Average Salary in Iceland 2024
How much money does a person working as Biofabrication Specialist make in Iceland?
LOW
378,000
ISK AVERAGE
821,000
ISK HIGH
1,300,000
ISK
A person working as Biofabrication Specialist in Iceland typically earns around 821,000 ISK. Salaries range from 378,000 ISK (lowest) to 1,300,000 ISK (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Biofabrication Specialist salaries in Iceland vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Biofabrication Specialist Pay Scale and Salaries in Iceland
Salary Structure and Pay Scale Comparison
778,000 ISK or more
682,000 to 778,000 ISK
470,000 ISK or less
470,000 to 682,000 ISK
 378,000 ISK |
784,000 ISK |
1,300,000 ISK |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Biofabrication Specialist in Iceland range from 378,000 ISK (starting salary) to 1,300,000 ISK (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 784,000 ISK, half of the professionals who work as Biofabrication Specialist in Iceland earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Biofabrication Specialist in Iceland earn less than 632,000 ISK, while 75% earn more. Similarly, the chart shows that 75% earn less than 904,000 ISK while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Biofabrication Specialist in Iceland compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 470,000 ISK to 682,000 ISK. About 20% of salaries are below the 470,000 ISK mark, while 10% fall within the range of 682,000 ISK to 778,000 ISK. Only 5% of individuals have salaries exceeding 778,000 ISK.
Salary Comparison by Years of Experience / Biofabrication Specialist / Iceland
How do experience and age affect pay?
| 0 - 2 Years | 429,000 ISK | |
| 2 - 5 Years | +34% | 572,000 ISK |
| 5 - 10 Years | +48% | 846,000 ISK |
| 10 - 15 Years | +22% | 1,030,000 ISK |
| 15 - 20 Years | +9% | 1,120,000 ISK |
| 20+ Years | +8% | 1,220,000 ISK |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Biofabrication Specialist and this is what we found.
Employees with less than two years of experience earn approximately 429,000 ISK.
While someone with an experience level between two and five years is expected to earn 572,000 ISK, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 846,000 ISK, 48% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 1,030,000 ISK, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 1,120,000 ISK, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 1,220,000 ISK, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Biofabrication Specialist / Iceland
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Biofabrication Specialist.
| Certificate or Diploma | 526,000 ISK | |
| Bachelor's Degree | +18% | 619,000 ISK |
| Master's Degree | +45% | 897,000 ISK |
| PhD | +31% | 1,180,000 ISK |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Biofabrication Specialist in order to make a comparison.
Level 1: Certificate or Diploma
Employees at this education level have an average salary of 526,000 ISK.
Level 2: Bachelor's Degree
At this level, the average salary becomes 619,000 ISK, 18% more than the previous level.
Level 3: Master's Degree
At this level, the average salary becomes 897,000 ISK, 45% more than the previous level.
Level 4: PhD
At this level, the average salary becomes 1,180,000 ISK, 31% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Iceland costs anywhere from 3,450,000 ISK to 10,300,000 ISK and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Biofabrication Specialist / Iceland
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Biofabrication Specialist in Iceland, the average difference between the salary of male and female employees is 5%.
| Male | 839,000 ISK | |
| Female | -4% | 802,000 ISK |
Salary Comparison By Gender in Iceland for all Careers
Average Annual Salary Increment Percentage / Biofabrication Specialist / Iceland
How much are annual salary increments in Iceland for individuals working as Biofabrication Specialist? How often do employees get salary raises?
Individuals working as Biofabrication Specialist in Iceland are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
Iceland / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Biofabrication Specialist / Iceland
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/pharmaceutical-and-biotechnology/biofabrication-specialist/annual-salary-bonus-rate-iceland-biofabrication-specialist.jpg
83% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 17% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.
| Received Bonus | 17% | |
| No Bonus | 83% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Biofabrication Specialist / Iceland
4,730 ISK per hourThe average hourly wage (pay per hour) for individuals working as Biofabrication Specialist in Iceland is 4,730 ISK.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Biofabrication Specialist in Iceland is 2,180 ISK. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Pharmaceutical and Biotechnology |  -100% | |
| Assistant Pharmacist | 572,000 ISK | -30% |
| Assistant Pharmacy Director | 992,000 ISK |  +21% |
| Associate Medical Affairs Director | 1,400,000 ISK | +71% |
| Bioethics Specialist | 801,000 ISK | -2% |
| Biofabrication Specialist | 821,000 ISK | +0% |
| Bioinformatics Scientist | 1,290,000 ISK | +57% |
| Bioinformatics Technician | 593,000 ISK | -28% |
| Biological Scientist | 1,380,000 ISK | +68% |
| Biological Technician | 592,000 ISK | -28% |
| Biomanufacturing Technician | 699,000 ISK | -15% |
| Biomarker Scientist | 948,000 ISK | +16% |
| Biomedical Electronics Technician | 548,000 ISK | -33% |
| Biomedical Engineer | 535,000 ISK | -35% |
| Biomedical Engineering Director | 1,040,000 ISK | +27% |
| Bioprocess Engineer | 665,000 ISK | -19% |
| Biostatistician | 838,000 ISK | +2% |
| Biotechnologist | 821,000 ISK | +0% |
| Biotechnology Lead Data Manager | 695,000 ISK | -15% |
| Cell Therapy Scientist | 1,150,000 ISK | +40% |
| Chemical Process Technician | 603,000 ISK | -27% |
| Clinical Consultant | 877,000 ISK | +7% |
| Clinical Data Manager | 813,000 ISK | -1% |
| Clinical Data Specialist | 747,000 ISK | -9% |
| Clinical Informatics Specialist | 676,000 ISK | -18% |
| Clinical Operations Manager | 1,180,000 ISK | +44% |
| Clinical Pharmacist | 798,000 ISK | -3% |
| Clinical Pharmacy Specialist | 1,040,000 ISK | +27% |
| Clinical Programmer | 423,000 ISK | -48% |
| Clinical Project Manager | 747,000 ISK | -9% |
| Clinical Research Associate | 708,000 ISK | -14% |
| Clinical Research Manager | 1,190,000 ISK | +45% |
| Clinical Study Manager | 1,010,000 ISK | +23% |
| Clinical Trials Compliance Officer | 1,460,000 ISK | +78% |
| Compliance Specialist | 909,000 ISK | +11% |
| Computational Chemist | 1,090,000 ISK | +33% |
| Cytology Laboratory Technologist | 668,000 ISK | -19% |
| Cytotechnologist | 667,000 ISK | -19% |
| Digital Biomarker Developer | 879,000 ISK | +7% |
| Digital Health Specialist | 778,000 ISK | -5% |
| Drug Safety Specialist | 905,000 ISK | +10% |
| GCP Auditor | 696,000 ISK | -15% |
| Gene Editing Compliance Officer | 1,010,000 ISK | +23% |
| Gene Editing Specialist | 811,000 ISK | -1% |
| Gene Therapy Researcher | 857,000 ISK | +4% |
| Hospital Pharmacy Technician | 618,000 ISK | -25% |
| Manufacturing Engineer | 678,000 ISK | -17% |
| Medical 3D Printing Specialist | 680,000 ISK | -17% |
| Medical Affairs Director | 1,370,000 ISK | +67% |
| Medical Device Compliance Specialist | 815,000 ISK | -1% |
| Medical Device Data Analyst | 776,000 ISK | -5% |
| Medical Device Designer | 756,000 ISK | -8% |
| Medical Representative | 590,000 ISK | -28% |
| Medical Science Liaison | 995,000 ISK | +21% |
| Medical Technology Writer | 608,000 ISK | -26% |
| Molecular and Cellular Biologist | 1,420,000 ISK | +73% |
| Nuclear Pharmacist | 831,000 ISK | +1% |
| Pharmaceutical Compliance Auditor | 1,180,000 ISK | +44% |
| Pharmaceutical Manager | 1,460,000 ISK | +78% |
| Pharmaceutical Manufacturing Lead | 1,610,000 ISK | +96% |
| Pharmaceutical Operations Excellence Manager | 1,340,000 ISK | +63% |
| Pharmaceutical Process Engineer | 781,000 ISK | -5% |
| Pharmaceutical Production Assistant Manager | 909,000 ISK | +11% |
| Pharmaceutical Project Manager | 895,000 ISK | +9% |
| Pharmaceutical Quality Auditor | 900,000 ISK | +10% |
| Pharmaceutical Regulatory Affairs Assistant | 717,000 ISK | -13% |
| Pharmaceutical Regulatory Affairs Manager | 978,000 ISK | +19% |
| Pharmaceutical Regulatory Affairs Specialist | 779,000 ISK | -5% |
| Pharmaceutical Representative | 587,000 ISK | -28% |
| Pharmaceutical Research Associate | 821,000 ISK | +0% |
| Pharmaceutical Research Scientist | 1,270,000 ISK | +55% |
| Pharmaceutical Researcher | 1,200,000 ISK | +46% |
| Pharmaceutical Sales and Marketing Manager | 1,020,000 ISK | +24% |
| Pharmaceutical Sales Manager | 1,270,000 ISK | +55% |
| Pharmaceutical Sales Representative | 558,000 ISK | -32% |
| Pharmaceutical Supply Chain Manager | 1,360,000 ISK | +66% |
| Pharmaceutical Team Leader | 940,000 ISK | +15% |
| Pharmaceutical Technologist | 662,000 ISK | -19% |
| Pharmacist | 793,000 ISK | -3% |
| Pharmacogenomics Expert | 957,000 ISK | +17% |
| Pharmacovigilance Analyst | 937,000 ISK | +14% |
| Pharmacy Aide | 533,000 ISK | -35% |
| Pharmacy Manager | 1,120,000 ISK | +36% |
| Pharmacy Stock Controller | 513,000 ISK | -37% |
| Pharmacy Technician | 504,000 ISK | -39% |
| Precision Medicine Compliance Analyst | 902,000 ISK | +10% |
| Precision Medicine Specialist | 845,000 ISK | +3% |
| Records Management Coordinator | 437,000 ISK | -47% |
| Shift Encapsulator | 495,000 ISK | -40% |
| Staff Pharmacist | 862,000 ISK | +5% |
| Synthetic Biologist | 1,040,000 ISK | +27% |
| Telepharmacy Technician | 497,000 ISK | -39% |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Iceland is 25% on average across all career fields.
| Private Sector | 614,000 ISK | |
| Public Sector | +25% | 765,000 ISK |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Biofabrication Specialist in Iceland?
A good and competitive compensation would range anywhere between 784,000 ISK and 904,000 ISK. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Biofabrication Specialist in Iceland ranges from 378,000 ISK to 632,000 ISK. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
