Retail Banking Manager salary in Iceland

Average Yearly Salary of Retail Banking Manager in Iceland is approximately 15,704,027 ISK (109,823 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 Retail Banking Manager do?

A retail banking manager is responsible for overseeing the operations and performance of a bank branch or retail banking department. They are in charge of managing a team of customer service representatives, tellers, and other staff members to ensure efficient and effective service delivery. The retail banking manager is responsible for meeting sales targets, developing and implementing strategies to attract new customers, and maintaining relationships with existing clients. They also handle customer complaints and resolve any issues that may arise. Additionally, retail banking managers stay updated on industry trends and regulations to ensure compliance and provide guidance to their team. This occupation requires strong leadership skills, excellent communication and interpersonal abilities, and a deep understanding of financial products and services.

Skills: Retail banking, Manager, Customer service, Sales, Team management, Compliance.
Job industry: Banking

How much does Retail Banking Manager make?

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


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Salary comparison to National average

Is Retail Banking Manager a well paid job?

Yes, our data shows that Retail Banking Manager 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 Retail Banking Manager?

High salary for Retail Banking Manager would be somewhere between 17,274,430 ISK and 22,770,839 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Retail Banking Manager 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: 15,704,027 ISK
Estimated Monthly Salary: 1,308,669 ISK
Estimated Weekly Salary: 302,001 ISK per week
Estimated Hourly Salary: 7,550 ISK per hour
By working as Retail Banking Manager a person can save up to 6,423 USD per month or 77,077 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 Retail Banking Manager

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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