Economic Development Manager salary in Iceland

Average Yearly Salary of Economic Development Manager in Iceland is approximately 13,842,633 ISK (97,054 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 Economic Development Manager do?

An economic development manager is responsible for promoting economic growth and prosperity in a specific region or community. They work closely with local government officials, businesses, and community organizations to attract new businesses, retain existing businesses, and stimulate job creation. Their primary goal is to enhance the overall economic climate of the area by implementing strategies and initiatives that foster business expansion, entrepreneurship, and investment. The economic development manager conducts market research, identifies potential growth sectors, and develops strategies to capitalize on those opportunities. They also collaborate with stakeholders to create and implement economic development plans, secure funding for projects, and establish partnerships with regional and national organizations. Additionally, they may be involved in workforce development programs, infrastructure improvements, and marketing campaigns to attract investors and tourists.

Skills: Economic development, Business growth, Job creation, Community development, Market research, Strategic planning
Job industry: Government

How much does Economic Development Manager make?

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


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Salary comparison to National average

Is Economic Development Manager a well paid job?

Yes, our data shows that Economic Development Manager is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Economic Development Manager?

High salary for Economic Development Manager would be somewhere between 15,226,896 ISK and 20,071,818 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Economic Development Manager 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: 13,842,633 ISK
Estimated Monthly Salary: 1,153,553 ISK
Estimated Weekly Salary: 266,204 ISK per week
Estimated Hourly Salary: 6,655 ISK per hour
By working as Economic Development Manager a person can save up to 5,359 USD per month or 64,308 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 Economic Development Manager

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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