Accounting Specialist salary in Iceland

Average Yearly Salary of Accounting Specialist in Iceland is approximately 7,617,044 ISK (53,277 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 Specialist do?

An accounting specialist is a professional who specializes in managing financial data and records for an organization. They are responsible for tasks such as preparing and reviewing financial statements, reconciling accounts, analyzing financial data, and ensuring compliance with accounting principles and regulations. They may also be involved in budgeting, forecasting, and providing financial advice to management. Accounting specialists need to have a strong understanding of accounting principles, financial analysis, and reporting standards. They should possess excellent attention to detail, analytical skills, and proficiency in using accounting software and tools. They must also have good communication skills to collaborate with other departments and stakeholders.

Skills: Accounting, Financial Analysis, Financial Reporting, Reconciliation, Compliance, Budgeting
Job industry: Accounting

How much does Accounting Specialist make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Accounting Specialist a well paid job?

Yes, our data show that Accounting Specialist 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 Specialist?

High salary for Accounting Specialist would be somewhere between 8,378,748 ISK and 11,044,714 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Accounting Specialist 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: 7,617,044 ISK
Estimated Monthly Salary: 634,754 ISK
Estimated Weekly Salary: 146,482 ISK per week
Estimated Hourly Salary: 3,662 ISK per hour
By working as Accounting Specialist a person can save up to 1,711 USD per month or 20,531 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 Specialist

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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