Benefits Specialist salary in Iceland

Average Yearly Salary of Benefits Specialist in Iceland is approximately 10,242,686 ISK (71,661 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 Benefits Specialist do?

A benefits specialist is responsible for managing employee benefit programs within an organization. They play a crucial role in ensuring that employees understand and utilize their benefits effectively. Their main duties include administering health insurance plans, retirement plans, paid time off, and other employee benefits. They assist employees with benefit enrollment and claims processing, as well as handling any issues or concerns related to benefits. Benefits specialists also stay updated on industry trends and regulations to ensure compliance with legal requirements. They may collaborate with HR teams to develop and implement new benefit programs, conduct benefit orientations, and provide guidance on benefit options. Overall, a benefits specialist plays a vital role in supporting employee satisfaction and well-being by providing comprehensive and efficient benefits administration.

Skills: Benefits administration, Employee benefits, Health insurance, Retirement plans, Human resources, Compliance
Job industry: Human resources

How much does Benefits 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 Benefits Specialist a well paid job?

Yes, our data show that Benefits 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 Benefits Specialist?

High salary for Benefits Specialist would be somewhere between 11,266,955 ISK and 14,851,895 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Benefits 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: 10,242,686 ISK
Estimated Monthly Salary: 853,557 ISK
Estimated Weekly Salary: 196,975 ISK per week
Estimated Hourly Salary: 4,924 ISK per hour
By working as Benefits Specialist a person can save up to 3,243 USD per month or 38,915 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 Benefits 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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