Payroll Administrator salary in Iceland

Average Yearly Salary of Payroll Administrator in Iceland is approximately 8,351,735 ISK (58,333 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 Payroll Administrator do?

A payroll administrator is responsible for managing the financial records of an organization's employees. Their main task is to ensure accurate and timely payment of salaries, wages, bonuses, and benefits. They calculate and process payroll information, including hours worked, deductions, and taxes. Additionally, payroll administrators maintain employee records, update changes in salary or status, and address any payroll-related queries or concerns. This occupation requires strong attention to detail, as even a small error can have significant consequences. Proficiency in using payroll software and knowledge of relevant laws and regulations are essential. Effective communication skills are also important, as payroll administrators often liaise with employees, managers, and external stakeholders. They must have excellent organizational abilities to manage multiple tasks and meet deadlines.

Skills: Payroll, Administration, Financial Records, Salary Processing, Employee Benefits, Compliance
Job industry: Human resources

How much does Payroll Administrator make?

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


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Salary comparison to National average

Is Payroll Administrator a well paid job?

Yes, our data show that Payroll Administrator 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 Payroll Administrator?

High salary for Payroll Administrator would be somewhere between 9,186,909 ISK and 12,110,016 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Payroll Administrator 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: 8,351,735 ISK
Estimated Monthly Salary: 695,978 ISK
Estimated Weekly Salary: 160,610 ISK per week
Estimated Hourly Salary: 4,015 ISK per hour
By working as Payroll Administrator a person can save up to 2,132 USD per month or 25,587 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 Payroll Administrator

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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