Payroll Benefits Accountant salary in Iceland

Average Yearly Salary of Payroll Benefits Accountant in Iceland is approximately 10,474,956 ISK (72,916 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 Benefits Accountant do?

A payroll benefits accountant is responsible for managing and processing employee payroll and benefits. They ensure accurate and timely payment of wages, deductions, and taxes, while also administering employee benefits such as health insurance, retirement plans, and paid time off. These professionals maintain payroll records, calculate and reconcile payroll data, and generate reports for management and regulatory compliance. They stay updated on relevant laws and regulations to ensure compliance with tax laws and labor regulations. Additionally, they may assist in resolving payroll discrepancies and answering employee inquiries related to payroll and benefits.

Skills: Payroll, Benefits, Accounting, Payroll Processing, Employee Benefits Administration, Compliance.
Job industry: Accounting

How much does Payroll Benefits Accountant make?

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


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Salary comparison to National average

Is Payroll Benefits Accountant a well paid job?

Yes, our data show that Payroll Benefits Accountant 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 Benefits Accountant?

High salary for Payroll Benefits Accountant would be somewhere between 11,522,452 ISK and 15,188,686 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Payroll Benefits Accountant 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: 10,474,956 ISK
Estimated Monthly Salary: 872,913 ISK
Estimated Weekly Salary: 201,441 ISK per week
Estimated Hourly Salary: 5,036 ISK per hour
By working as Payroll Benefits Accountant a person can save up to 3,348 USD per month or 40,170 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 Benefits Accountant

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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