Director Of Innovation salary in Iceland

Average Yearly Salary of Director Of Innovation in Iceland is approximately 23,889,071 ISK (166,543 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 Director Of Innovation do?

The Director of Innovation is responsible for leading and driving innovation initiatives within an organization. This role involves overseeing the development and implementation of innovative strategies, processes, and technologies to enhance business performance and competitiveness. The Director of Innovation collaborates with various departments to identify opportunities for innovation, conducts market research to stay updated on industry trends, and evaluates new ideas and concepts for feasibility and potential impact. They also manage a team of professionals and facilitate cross-functional collaboration to foster a culture of innovation. Additionally, the Director of Innovation may work closely with external partners, such as startups or research institutions, to leverage external expertise and resources. This position requires strong leadership, strategic thinking, problem-solving skills, and a deep understanding of emerging technologies and market dynamics.

Skills: Director of Innovation, Innovation management, Strategic leadership, Technology trends, Cross-functional collaboration, Market research
Job industry: Technology

How much does Director Of Innovation make?

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


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Salary comparison to National average

Is Director Of Innovation a well paid job?

Yes, our data show that Director Of Innovation 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 Director Of Innovation?

High salary for Director Of Innovation would be somewhere between 26,277,978 ISK and 34,639,153 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Director Of Innovation 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: 23,889,071 ISK
Estimated Monthly Salary: 1,990,756 ISK
Estimated Weekly Salary: 459,405 ISK per week
Estimated Hourly Salary: 11,485 ISK per hour
By working as Director Of Innovation a person can save up to 11,150 USD per month or 133,797 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 Director Of Innovation

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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