Chief Operating Officer Average Salary in Iceland 2024
How much money does a person working as Chief Operating Officer make in Iceland?
LOW
524,000
ISK AVERAGE
1,140,000
ISK HIGH
1,810,000
ISK
A person working as Chief Operating Officer in Iceland typically earns around 1,140,000 ISK. Salaries range from 524,000 ISK (lowest) to 1,810,000 ISK (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Chief Operating Officer salaries in Iceland vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Operating Officer Pay Scale and Salaries in Iceland
Salary Structure and Pay Scale Comparison
1,080,000 ISK or more
947,000 to 1,080,000 ISK
653,000 ISK or less
653,000 to 947,000 ISK
 524,000 ISK |
1,090,000 ISK |
1,810,000 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 Chief Operating Officer in Iceland range from 524,000 ISK (starting salary) to 1,810,000 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 1,090,000 ISK, half of the professionals who work as Chief Operating Officer 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 Chief Operating Officer in Iceland earn less than 878,000 ISK, while 75% earn more. Similarly, the chart shows that 75% earn less than 1,260,000 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 Chief Operating Officer in Iceland compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 653,000 ISK to 947,000 ISK. About 20% of salaries are below the 653,000 ISK mark, while 10% fall within the range of 947,000 ISK to 1,080,000 ISK. Only 5% of individuals have salaries exceeding 1,080,000 ISK.
Salary Comparison by Years of Experience / Chief Operating Officer / Iceland
How do experience and age affect pay?
| 0 - 2 Years | 595,000 ISK | |
| 2 - 5 Years | +34% | 795,000 ISK |
| 5 - 10 Years | +48% | 1,180,000 ISK |
| 10 - 15 Years | +22% | 1,430,000 ISK |
| 15 - 20 Years | +9% | 1,560,000 ISK |
| 20+ Years | +8% | 1,690,000 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 Chief Operating Officer and this is what we found.
Employees with less than two years of experience earn approximately 595,000 ISK.
While someone with an experience level between two and five years is expected to earn 795,000 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 1,180,000 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 1,430,000 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 1,560,000 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 1,690,000 ISK, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Chief Operating Officer / Iceland
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Chief Operating Officer.
| High School | 731,000 ISK | |
| Certificate or Diploma | +18% | 859,000 ISK |
| Bachelor's Degree | +45% | 1,250,000 ISK |
| Master's Degree | +31% | 1,630,000 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 Chief Operating Officer in order to make a comparison.
Level 1: High School
Employees at this education level have an average salary of 731,000 ISK.
Level 2: Certificate or Diploma
At this level, the average salary becomes 859,000 ISK, 18% more than the previous level.
Level 3: Bachelor's Degree
At this level, the average salary becomes 1,250,000 ISK, 45% more than the previous level.
Level 4: Master's Degree
At this level, the average salary becomes 1,630,000 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 / Chief Operating Officer / 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 Chief Operating Officer in Iceland, the average difference between the salary of male and female employees is 5%.
| Male | 1,170,000 ISK | |
| Female | -4% | 1,110,000 ISK |
Salary Comparison By Gender in Iceland for all Careers
Average Annual Salary Increment Percentage / Chief Operating Officer / Iceland
How much are annual salary increments in Iceland for individuals working as Chief Operating Officer? How often do employees get salary raises?
Individuals working as Chief Operating Officer in Iceland are likely to observe a salary increase of approximately 9% every 28 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 / Chief Operating Officer / Iceland
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/iceland/executive-and-management/chief-operating-officer/annual-salary-bonus-rate-iceland-chief-operating-officer.jpg
32% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 68% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
| Received Bonus | 68% | |
| No Bonus | 32% |
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 / Chief Operating Officer / Iceland
6,580 ISK per hourThe average hourly wage (pay per hour) for individuals working as Chief Operating Officer in Iceland is 6,580 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 Chief Operating Officer in Iceland is 3,030 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 |
| Executive and Management |  -100% | |
| Account Coordinator | 585,000 ISK | -49% |
| Account Director | 745,000 ISK | -35% |
| Account Executive | 734,000 ISK | -36% |
| Account Manager | 718,000 ISK | -37% |
| Administration Manager | 714,000 ISK | -37% |
| Administration Officer | 380,000 ISK | -67% |
| Administration Supervisor | 594,000 ISK | -48% |
| Administrative Clerk | 296,000 ISK | -74% |
| Administrative Officer | 285,000 ISK | -75% |
| Area Director | 714,000 ISK | -37% |
| Area Manager | 706,000 ISK | -38% |
| Asset Protection Associate | 768,000 ISK | -33% |
| Assistant Director | 781,000 ISK | -32% |
| Assistant General Manager | 816,000 ISK | -28% |
| Assistant Manager | 810,000 ISK | -29% |
| Assistant Managing Director | 904,000 ISK | -21% |
| Assistant Operations Manager | 890,000 ISK | -22% |
| Assistant Project Manager | 769,000 ISK | -33% |
| Assistant Section Head | 637,000 ISK | -44% |
| Assistant to CEO | 737,000 ISK | -35% |
| Assistant Vice President | 805,000 ISK | -29% |
| Associate Account Director | 772,000 ISK | -32% |
| Associate Director | 804,000 ISK | -29% |
| Bid Manager | 846,000 ISK | -26% |
| Branch Manager | 872,000 ISK | -24% |
| Business Development Manager | 923,000 ISK | -19% |
| Business Operations Associate | 760,000 ISK | -33% |
| Business Operations Lead | 783,000 ISK | -31% |
| Campaign Manager | 867,000 ISK | -24% |
| Catering Coordinator | 472,000 ISK | -59% |
| Catering Manager | 736,000 ISK | -35% |
| CEO | 1,470,000 ISK |  +29% |
| Chairman of The Board | 1,420,000 ISK | +25% |
| Chairman Office Manager | 930,000 ISK | -18% |
| Chief Commercial Officer | 1,040,000 ISK | -9% |
| Chief Corporate Officer | 1,160,000 ISK | +2% |
| Chief Digital Officer | 987,000 ISK | -13% |
| Chief Digital Strategy Officer | 1,010,000 ISK | -11% |
| Chief Digital Transformation Officer | 938,000 ISK | -18% |
| Chief Ethics Officer | 852,000 ISK | -25% |
| Chief Executive Officer | 1,520,000 ISK | +33% |
| Chief Financial Officer | 1,340,000 ISK | +18% |
| Chief Investment Officer | 1,080,000 ISK | -5% |
| Chief of Staff | 703,000 ISK | -38% |
| Chief Operating Officer | 1,140,000 ISK | -0% |
| Chief Privacy Officer | 889,000 ISK | -22% |
| Chief Resilience Officer | 1,120,000 ISK | -2% |
| Chief Risk Officer | 925,000 ISK | -19% |
| Chief Strategy Officer | 1,250,000 ISK | +10% |
| Chief Trust and Safety Officer | 954,000 ISK | -16% |
| Client Account Manager | 854,000 ISK | -25% |
| Client Accounts Officer | 719,000 ISK | -37% |
| Client Services Manager | 939,000 ISK | -18% |
| Commercial Director | 942,000 ISK | -17% |
| Commercial Manager | 856,000 ISK | -25% |
| Commercial Project Manager | 759,000 ISK | -33% |
| Commodity Broker | 582,000 ISK | -49% |
| COO | 1,100,000 ISK | -4% |
| Corporate Affairs Executive | 870,000 ISK | -24% |
| Corporate Compliance Director | 987,000 ISK | -13% |
| Corporate Director | 1,040,000 ISK | -9% |
| Corporate Officer | 708,000 ISK | -38% |
| Corporate Partnerships Officer | 707,000 ISK | -38% |
| Country Manager | 1,130,000 ISK | -1% |
| Department Head | 924,000 ISK | -19% |
| Department Manager | 923,000 ISK | -19% |
| Department Supervisor | 796,000 ISK | -30% |
| Deputy Director | 1,070,000 ISK | -6% |
| Deputy Manager | 1,070,000 ISK | -6% |
| Director | 1,110,000 ISK | -3% |
| Director of Accreditation | 1,000,000 ISK | -12% |
| Director of Catering Services | 899,000 ISK | -21% |
| Director of Client Services | 960,000 ISK | -16% |
| Director of Facilities Management | 823,000 ISK | -28% |
| Director of Operations | 953,000 ISK | -16% |
| Director of Process Simplification | 763,000 ISK | -33% |
| Director of Product Management | 961,000 ISK | -16% |
| Director of Project Management | 1,010,000 ISK | -11% |
| Director of Revenue Management | 890,000 ISK | -22% |
| Director of Training and Development | 964,000 ISK | -15% |
| Distribution Manager | 1,030,000 ISK | -10% |
| Division Manager | 841,000 ISK | -26% |
| Duty Manager | 813,000 ISK | -29% |
| Engagement Manager | 1,030,000 ISK | -10% |
| Executive Director | 1,480,000 ISK | +30% |
| Executive Manager | 1,210,000 ISK | +6% |
| Franchise Manager | 1,260,000 ISK | +11% |
| General Manager | 1,170,000 ISK | +3% |
| Generational Consultant | 745,000 ISK | -35% |
| Global Master Data Manager | 1,050,000 ISK | -8% |
| Global Technical Lead | 694,000 ISK | -39% |
| Head of Investment | 961,000 ISK | -16% |
| Head of Middle Office | 909,000 ISK | -20% |
| Head of Projects | 969,000 ISK | -15% |
| Head of Strategy | 1,090,000 ISK | -4% |
| Head of Supply Chain | 885,000 ISK | -22% |
| Head of Sustainability | 812,000 ISK | -29% |
| Housing Manager | 759,000 ISK | -33% |
| HSE Manager | 769,000 ISK | -33% |
| Innovation Manager | 808,000 ISK | -29% |
| Key Account Manager | 794,000 ISK | -30% |
| Knowledge Manager | 929,000 ISK | -19% |
| Location Manager | 927,000 ISK | -19% |
| Logistics Executive | 767,000 ISK | -33% |
| Logistics Manager | 741,000 ISK | -35% |
| Management Consultant | 793,000 ISK | -30% |
| Management Executive | 1,050,000 ISK | -8% |
| Manager | 966,000 ISK | -15% |
| Managing Director | 1,200,000 ISK | +5% |
| MIS Executive | 987,000 ISK | -13% |
| Ocean Services Manager | 1,020,000 ISK | -11% |
| Online Business Manager | 1,430,000 ISK | +25% |
| Operational Manager | 1,010,000 ISK | -11% |
| Operations Analyst | 842,000 ISK | -26% |
| Operations Assistant | 697,000 ISK | -39% |
| Operations Director | 1,130,000 ISK | -1% |
| Operations Executive | 1,040,000 ISK | -9% |
| Operations Manager | 1,080,000 ISK | -5% |
| Operations Supervisor | 867,000 ISK | -24% |
| Planning Director | 1,060,000 ISK | -7% |
| PMO Manager | 925,000 ISK | -19% |
| Policy Administration Executive | 841,000 ISK | -26% |
| Private Sector Executive | 899,000 ISK | -21% |
| Product Development Manager | 960,000 ISK | -16% |
| Product Executive | 835,000 ISK | -27% |
| Production Executive | 1,010,000 ISK | -11% |
| Production Manager | 1,020,000 ISK | -11% |
| Production Supervisor | 809,000 ISK | -29% |
| Program Director | 975,000 ISK | -14% |
| Program Manager | 1,060,000 ISK | -7% |
| Programme Coordinator | 666,000 ISK | -42% |
| Project Control Manager | 1,020,000 ISK | -11% |
| Project Coordinator | 624,000 ISK | -45% |
| Project Management Officer | 703,000 ISK | -38% |
| Project Manager | 748,000 ISK | -34% |
| Project Portfolio Manager | 793,000 ISK | -30% |
| Quality Manager | 806,000 ISK | -29% |
| R/D Director | 840,000 ISK | -26% |
| Regional Director | 1,370,000 ISK | +20% |
| Regional Manager | 1,060,000 ISK | -7% |
| Relationship Manager | 987,000 ISK | -13% |
| Retail District Manager | 663,000 ISK | -42% |
| Revenue Manager | 782,000 ISK | -31% |
| Risk and Capital Manager | 1,110,000 ISK | -3% |
| Risk Officer | 744,000 ISK | -35% |
| Safety Manager | 732,000 ISK | -36% |
| Section Head | 779,000 ISK | -32% |
| Service Manager | 806,000 ISK | -29% |
| Shift Supervisor | 630,000 ISK | -45% |
| Solutions Manager | 687,000 ISK | -40% |
| Supervisor | 613,000 ISK | -46% |
| Supply Chain Manager | 1,070,000 ISK | -6% |
| Surveyor | 654,000 ISK | -43% |
| Technical Director | 902,000 ISK | -21% |
| Technical Manager | 937,000 ISK | -18% |
| Territory Manager | 991,000 ISK | -13% |
| Validation Manager | 799,000 ISK | -30% |
| Vice President | 1,200,000 ISK | +5% |
| Zone Manager | 1,030,000 ISK | -10% |
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 Chief Operating Officer in Iceland?
A good and competitive compensation would range anywhere between 1,090,000 ISK and 1,260,000 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 Chief Operating Officer in Iceland ranges from 524,000 ISK to 878,000 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
