Loan Assistant Commercial salary in Iceland

Average Yearly Salary of Loan Assistant Commercial in Iceland is approximately 8,015,279 ISK (56,266 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 Loan Assistant Commercial do?

A loan assistant commercial is responsible for providing support and assistance to commercial loan officers in a financial institution. They play a crucial role in the loan origination process by gathering and verifying financial documents, conducting credit checks, and preparing loan applications. Loan assistants also assist in analyzing loan requests, assessing the creditworthiness of borrowers, and ensuring compliance with lending policies and regulations. They may communicate with clients to collect additional information or clarify loan terms. Additionally, loan assistants help in maintaining accurate loan files, tracking loan progress, and coordinating loan closings.

Skills: loan assistant, commercial loan, financial institution, loan origination, credit analysis, compliance
Job industry: Banking

How much does Loan Assistant Commercial make?

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


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Salary comparison to National average

Is Loan Assistant Commercial a well paid job?

Yes, our data show that Loan Assistant Commercial 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 Loan Assistant Commercial?

High salary for Loan Assistant Commercial would be somewhere between 8,816,807 ISK and 11,622,155 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Assistant Commercial 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: 8,015,279 ISK
Estimated Monthly Salary: 667,940 ISK
Estimated Weekly Salary: 154,140 ISK per week
Estimated Hourly Salary: 3,853 ISK per hour
By working as Loan Assistant Commercial a person can save up to 1,960 USD per month or 23,520 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 Loan Assistant Commercial

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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