General Accounting Specialist salary in Iceland

Average Yearly Salary of General Accounting Specialist in Iceland is approximately 8,007,960 ISK (56,374 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 General Accounting Specialist do?

A general accounting specialist is responsible for managing and maintaining financial records for an organization. They handle various accounting tasks, including recording transactions, preparing financial statements, reconciling accounts, and ensuring compliance with regulations and company policies. They analyze financial data to identify discrepancies or irregularities and recommend solutions to improve efficiency and accuracy. General accounting specialists also assist in the budgeting process, monitor cash flow, and prepare reports for management. They may collaborate with auditors during financial audits and provide support in resolving any audit findings. Attention to detail, strong analytical skills, and proficiency in accounting software are essential for this role. Effective communication and problem-solving abilities are also crucial in order to work effectively with other departments and stakeholders.

Skills: general accounting, financial records, financial statements, compliance, budgeting, financial audits
Job industry: Accounting

How much does General Accounting Specialist make?

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


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Salary comparison to National average

Is General Accounting Specialist a well paid job?

Yes, our data show that General Accounting Specialist 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 General Accounting Specialist?

High salary for General Accounting Specialist would be somewhere between 8,808,756 ISK and 11,611,542 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as General Accounting Specialist 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: 8,007,960 ISK
Estimated Monthly Salary: 667,330 ISK
Estimated Weekly Salary: 153,999 ISK per week
Estimated Hourly Salary: 3,850 ISK per hour
By working as General Accounting Specialist a person can save up to 1,969 USD per month or 23,628 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 General Accounting Specialist

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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