Economic Development Officer salary in Iceland

Average Yearly Salary of Economic Development Officer in Iceland is approximately 10,543,284 ISK (73,782 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 Officer do?

An Economic Development Officer (EDO) is a professional responsible for promoting and implementing strategies to stimulate economic growth in a specific region or community. The EDO collaborates with local government, businesses, and other stakeholders to attract investment, create job opportunities, and enhance the overall economic climate. They conduct research and analysis to identify potential areas for development, assess market trends, and evaluate the feasibility of various projects. The EDO also assists in the creation and implementation of economic development plans, policies, and initiatives. They may provide support and guidance to entrepreneurs and small businesses, facilitate partnerships, and promote the region's assets and resources to attract new businesses and industries. Overall, the EDO plays a vital role in fostering economic prosperity and improving the quality of life within their designated area.

Skills: Economic Development Officer, Economic Growth, Investment Attraction, Job Creation, Market Analysis, Strategic Planning
Job industry: Government

How much does Economic Development Officer 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 Officer a well paid job?

Yes, our data show that Economic Development Officer 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 Economic Development Officer?

High salary for Economic Development Officer would be somewhere between 11,597,612 ISK and 15,287,762 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Economic Development Officer 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: 10,543,284 ISK
Estimated Monthly Salary: 878,607 ISK
Estimated Weekly Salary: 202,755 ISK per week
Estimated Hourly Salary: 5,069 ISK per hour
By working as Economic Development Officer a person can save up to 3,420 USD per month or 41,036 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 Officer

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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