Product Developer salary in Iceland

Average Yearly Salary of Product Developer in Iceland is approximately 12,859,159 ISK (89,827 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 Product Developer do?

A product developer is responsible for conceptualizing, designing, and developing new products or improving existing ones. They work closely with cross-functional teams, including marketing, engineering, and manufacturing, to ensure that the final product meets customer needs and aligns with business goals. The occupation requires strong analytical skills to conduct market research, identify trends, and gather customer feedback to inform product decisions. Product developers also collaborate with suppliers, negotiate contracts, and manage the production process to ensure timely delivery of high-quality products. They may also be involved in testing and quality control to ensure that products meet regulatory standards and customer expectations. Overall, a product developer plays a crucial role in driving innovation, enhancing product offerings, and contributing to the success of a company.

Skills: product development, design, innovation, market research, project management, quality control
Job industry: Manufacturing

How much does Product Developer make?

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


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Salary comparison to National average

Is Product Developer a well paid job?

Yes, our data shows that Product Developer 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 Product Developer?

High salary for Product Developer would be somewhere between 14,145,075 ISK and 18,645,781 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Product Developer 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: 12,859,159 ISK
Estimated Monthly Salary: 1,071,597 ISK
Estimated Weekly Salary: 247,292 ISK per week
Estimated Hourly Salary: 6,182 ISK per hour
By working as Product Developer a person can save up to 4,757 USD per month or 57,081 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 Product Developer

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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