Derrickhand salary in Iceland

Average Yearly Salary of Derrickhand in Iceland is approximately 10,044,685 ISK (70,299 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 Derrickhand do?

A derrickhand is an essential role within the oil and gas industry, particularly in drilling operations. They work on drilling rigs and are responsible for the smooth and efficient operation of the derrick, which is the large steel structure used to support drilling equipment. Derrickhands work alongside the driller and are involved in various tasks, including assembling and disassembling drilling equipment, operating the hoisting system, and maintaining the derrick's stability during drilling operations. They also assist in the running and retrieval of drill pipes and other tools, as well as performing routine maintenance and repairs.

Skills: derrickhand, drilling operations, oil and gas industry, drilling rigs, hoisting system, drill pipe retrieval, equipment maintenance.
Job industry: Oil and gas

How much does Derrickhand make?

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


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Salary comparison to National average

Is Derrickhand a well paid job?

Yes, our data show that Derrickhand 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 Derrickhand?

High salary for Derrickhand would be somewhere between 11,049,154 ISK and 14,564,793 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Derrickhand 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: 10,044,685 ISK
Estimated Monthly Salary: 837,057 ISK
Estimated Weekly Salary: 193,167 ISK per week
Estimated Hourly Salary: 4,829 ISK per hour
By working as Derrickhand a person can save up to 3,129 USD per month or 37,553 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 Derrickhand

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.

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Data as of 2025

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