Economics Teacher salary in Iceland

Average Yearly Salary of Economics Teacher in Iceland is approximately 9,217,284 ISK (64,625 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 Economics Teacher do?

An economics teacher is responsible for instructing students in the principles, theories, and concepts of economics. They develop lesson plans, deliver lectures, facilitate discussions, and assess student understanding through assignments and exams. Economics teachers may cover a wide range of topics including microeconomics, macroeconomics, international economics, and economic policy. They use various teaching methods to engage students, such as case studies, group projects, and multimedia presentations. Additionally, they provide guidance and support to students, helping them develop critical thinking skills and apply economic principles to real-world situations. Strong communication and analytical skills are essential for an economics teacher to effectively convey complex economic concepts and theories. They must stay updated with current economic trends and research to provide relevant and accurate information to their students.

Skills: economics, teaching, education, economics teacher, economics instruction, economic principles
Job industry: Education

How much does Economics Teacher make?

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


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Salary comparison to National average

Is Economics Teacher a well paid job?

Yes, our data show that Economics Teacher 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 Economics Teacher?

High salary for Economics Teacher would be somewhere between 10,139,012 ISK and 13,365,062 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Economics Teacher 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: 9,217,284 ISK
Estimated Monthly Salary: 768,107 ISK
Estimated Weekly Salary: 177,255 ISK per week
Estimated Hourly Salary: 4,431 ISK per hour
By working as Economics Teacher a person can save up to 2,657 USD per month or 31,879 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 Economics Teacher

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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