Payroll Processor salary in Iceland

Average Yearly Salary of Payroll Processor in Iceland is approximately 7,278,895 ISK (50,642 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 Processor do?

A payroll processor is responsible for managing and processing employee payrolls within an organization. This role involves calculating and verifying hours worked, deductions, and taxes to ensure accurate and timely payment of salaries or wages. Payroll processors also maintain employee records, update payroll databases, and generate reports for management. They may handle various tasks related to payroll administration, such as preparing and distributing paychecks, managing direct deposits, and resolving payroll discrepancies. Attention to detail, strong numerical skills, and knowledge of payroll laws and regulations are essential for this occupation. Additionally, payroll processors must have good communication skills to interact with employees and address any payroll-related inquiries or concerns.

Skills: Payroll processing, Payroll administration, Payroll management, Payroll calculations, Payroll compliance, Employee compensation.
Job industry: Human resources

How much does Payroll Processor 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 Processor a well paid job?

No / we do not have enough data to assess this.

What is considered a high salary for Payroll Processor?

High salary for Payroll Processor would be somewhere between 8,006,785 ISK and 10,554,398 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Payroll Processor 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: 7,278,895 ISK
Estimated Monthly Salary: 606,575 ISK
Estimated Weekly Salary: 139,979 ISK per week
Estimated Hourly Salary: 3,499 ISK per hour
By working as Payroll Processor a person can save up to 1,491 USD per month or 17,896 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 Processor

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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