Loan Officer Commercial salary in Iceland

Average Yearly Salary of Loan Officer Commercial in Iceland is approximately 14,685,703 ISK (102,529 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 Officer Commercial do?

A loan officer in the commercial sector is responsible for evaluating, approving, and managing loans for businesses and organizations. They work closely with clients to understand their financial needs and objectives, analyze creditworthiness, and assess the risk involved in lending money. Loan officers review applications, financial statements, and credit reports to determine loan eligibility and terms. They also negotiate loan terms and conditions, ensuring compliance with regulations and company policies. Additionally, they maintain relationships with existing clients, provide advice on financial matters, and monitor loan portfolios for potential risks or opportunities. This occupation requires strong analytical skills, attention to detail, and excellent communication and customer service abilities.

Skills: loan officer, commercial lending, financial analysis, credit evaluation, loan management, risk assessment
Job industry: Banking

How much does Loan Officer Commercial 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 Officer Commercial a well paid job?

Yes, our data shows that Loan Officer Commercial is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Loan Officer Commercial?

High salary for Loan Officer Commercial would be somewhere between 16,154,273 ISK and 21,294,269 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Officer 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: 14,685,703 ISK
Estimated Monthly Salary: 1,223,809 ISK
Estimated Weekly Salary: 282,417 ISK per week
Estimated Hourly Salary: 7,060 ISK per hour
By working as Loan Officer Commercial a person can save up to 5,815 USD per month or 69,783 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 Officer 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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