Product Development Engineer Automotive salary in Iceland

Average Yearly Salary of Product Development Engineer Automotive in Iceland is approximately 15,904,196 ISK (111,821 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 Development Engineer Automotive do?

A Product Development Engineer in the automotive industry is responsible for designing, developing, and testing new products and components for vehicles. They work closely with cross-functional teams including design, manufacturing, and quality to ensure that the products meet performance, cost, and safety requirements. The engineer conducts research, analyzes data, and creates prototypes to verify the feasibility and functionality of the designs. They also collaborate with suppliers to source materials and parts and oversee the production process. Additionally, they stay updated with the latest industry trends and technologies to incorporate innovative features into their designs.

Skills: Product Development Engineer, Automotive Engineer, Design and Development, Testing and Prototyping, Cross-functional Collaboration, Supplier Management
Job industry: Automotive

How much does Product Development Engineer Automotive 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 Development Engineer Automotive a well paid job?

Yes, our data shows that Product Development Engineer Automotive 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 Development Engineer Automotive?

High salary for Product Development Engineer Automotive would be somewhere between 17,494,616 ISK and 23,061,084 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Product Development Engineer Automotive 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: 15,904,196 ISK
Estimated Monthly Salary: 1,325,350 ISK
Estimated Weekly Salary: 305,850 ISK per week
Estimated Hourly Salary: 7,646 ISK per hour
By working as Product Development Engineer Automotive a person can save up to 6,590 USD per month or 79,075 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 Development Engineer Automotive

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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