Payroll Technician salary in Iceland

Average Yearly Salary of Payroll Technician in Iceland is approximately 7,580,417 ISK (52,998 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 Technician do?

A payroll technician is responsible for managing and processing the payroll functions of an organization. They ensure accurate and timely payment of employee wages, salaries, and benefits. Their main duties include calculating hours worked, deductions, and taxes, as well as maintaining payroll records and resolving any discrepancies. Payroll technicians also stay updated with labor laws and regulations to ensure compliance with payroll policies.

Skills: Payroll management, Payroll processing, Payroll administration, Payroll software, Payroll records, Compliance with labor laws
Job industry: Human resources

How much does Payroll Technician 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 Technician a well paid job?

Yes, our data show that Payroll Technician 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 Technician?

High salary for Payroll Technician would be somewhere between 8,338,459 ISK and 10,991,605 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Payroll Technician 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: 7,580,417 ISK
Estimated Monthly Salary: 631,701 ISK
Estimated Weekly Salary: 145,777 ISK per week
Estimated Hourly Salary: 3,644 ISK per hour
By working as Payroll Technician a person can save up to 1,688 USD per month or 20,252 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 Technician

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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