Data Scientist salary in Iceland

Average Yearly Salary of Data Scientist in Iceland is approximately 18,769,016 ISK (131,977 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 Data Scientist do?

A data scientist is an occupation that involves extracting insights and knowledge from large and complex datasets using various statistical and machine learning techniques. They are responsible for collecting, organizing, and analyzing vast amounts of structured and unstructured data to identify trends, patterns, and correlations that can drive business decisions and strategies. Data scientists also develop predictive models and algorithms to solve specific problems or make accurate predictions. The occupation of a data scientist requires skills in programming languages such as Python or R, proficiency in statistical analysis and data visualization, and knowledge of machine learning algorithms. They must possess strong problem-solving abilities, critical thinking skills, and the ability to communicate complex findings to both technical and non-technical stakeholders. Data scientists often work closely with other teams, such as software engineers and business analysts, to understand data requirements and provide actionable insights.

Skills: data analysis, machine learning, statistics, programming, data visualization, predictive modeling
Job industry: Technology

How much does Data Scientist make?

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


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Salary comparison to National average

Is Data Scientist a well paid job?

Yes, our data show that Data Scientist is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Data Scientist?

High salary for Data Scientist would be somewhere between 20,645,918 ISK and 27,215,073 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Data Scientist 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: 18,769,016 ISK
Estimated Monthly Salary: 1,564,085 ISK
Estimated Weekly Salary: 360,943 ISK per week
Estimated Hourly Salary: 9,024 ISK per hour
By working as Data Scientist a person can save up to 8,269 USD per month or 99,231 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 Data Scientist

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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