Senior Compensation Consultant salary in Iceland

Average Yearly Salary of Senior Compensation Consultant in Iceland is approximately 20,037,699 ISK (139,897 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 Senior Compensation Consultant do?

A senior compensation consultant is responsible for designing, implementing, and managing compensation programs within an organization. They analyze market data, conduct salary surveys, and develop competitive compensation strategies to attract and retain top talent. They collaborate with HR teams to ensure that compensation practices align with the company's goals and comply with legal requirements. Additionally, they provide guidance on incentive plans, equity programs, and executive compensation packages. Senior compensation consultants also play a key role in evaluating job roles, conducting job evaluations, and making recommendations for salary adjustments or promotions. They stay updated on industry trends, regulations, and best practices to continuously improve compensation programs and ensure fairness and equity across the organization.

Skills: compensation consultant, compensation strategy, salary surveys, incentive plans, job evaluations, executive compensation
Job industry: Human resources

How much does Senior Compensation Consultant make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Senior Compensation Consultant a well paid job?

Yes, our data show that Senior Compensation Consultant is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Senior Compensation Consultant?

High salary for Senior Compensation Consultant would be somewhere between 22,041,469 ISK and 29,054,664 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Senior Compensation Consultant 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: 20,037,699 ISK
Estimated Monthly Salary: 1,669,808 ISK
Estimated Weekly Salary: 385,340 ISK per week
Estimated Hourly Salary: 9,634 ISK per hour
By working as Senior Compensation Consultant a person can save up to 8,929 USD per month or 107,151 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 Senior Compensation Consultant

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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