Loan Collector salary in Iceland

Average Yearly Salary of Loan Collector in Iceland is approximately 6,833,456 ISK (47,781 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 Collector do?

A loan collector is responsible for managing and collecting overdue debts from borrowers. They work for banks, financial institutions, or debt collection agencies. The primary role of a loan collector is to contact borrowers who have defaulted on their loan payments and negotiate repayment plans. They use various communication methods such as phone calls, emails, and letters to reach out to borrowers and discuss their outstanding debts. Loan collectors also investigate the reasons behind late payments and provide solutions to help borrowers meet their obligations.

Skills: Loan Collector, Debt Collection, Financial Services, Credit Management, Negotiation Skills, Customer Relations
Job industry: Finance

How much does Loan Collector make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Loan Collector a well paid job?

No, our data shows that Loan Collector is typically not a well-paid job. The salary varies based on experience. Meaning that even though Loan Collector might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Loan Collector?

High salary for Loan Collector would be somewhere between 7,516,802 ISK and 9,908,511 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Collector 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: 6,833,456 ISK
Estimated Monthly Salary: 569,455 ISK
Estimated Weekly Salary: 131,413 ISK per week
Estimated Hourly Salary: 3,285 ISK per hour
By working as Loan Collector a person can save up to 1,253 USD per month or 15,035 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 Collector

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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