Accounting Associate salary in Iceland

Average Yearly Salary of Accounting Associate in Iceland is approximately 9,772,886 ISK (68,528 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Accounting Associate do?

An accounting associate is responsible for assisting in the preparation and maintenance of financial records, reports, and statements. They perform various tasks such as recording transactions, reconciling accounts, processing invoices, and preparing financial statements. They also assist in budgeting, forecasting, and auditing activities. Accounting associates may also be involved in analyzing financial data, identifying trends, and making recommendations for improvement. They work closely with other members of the accounting team to ensure accuracy and compliance with accounting principles and regulations. Strong attention to detail, analytical skills, and proficiency in accounting software are essential for this role. Additionally, excellent communication and organizational skills are necessary to effectively collaborate with colleagues and provide support to clients or stakeholders.

Skills: Accounting, Financial Records, Reconciliation, Financial Statements, Budgeting, Auditing
Job industry: Finance

How much does Accounting Associate make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Accounting Associate a well paid job?

Yes, our data show that Accounting Associate is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Accounting Associate?

High salary for Accounting Associate would be somewhere between 10,750,175 ISK and 14,170,685 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Accounting Associate in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 9,772,886 ISK
Estimated Monthly Salary: 814,407 ISK
Estimated Weekly Salary: 187,940 ISK per week
Estimated Hourly Salary: 4,699 ISK per hour
By working as Accounting Associate a person can save up to 2,982 USD per month or 35,782 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Accounting Associate

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Iceland

Data as of 2025

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