Senior Product Engineer salary in Iceland

Average Yearly Salary of Senior Product Engineer in Iceland is approximately 18,218,843 ISK (127,896 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 Product Engineer do?

A senior product engineer is responsible for overseeing the development and improvement of products within a company. They work closely with cross-functional teams, including design, manufacturing, and quality assurance, to ensure that products meet the highest standards of quality, functionality, and cost-effectiveness. Senior product engineers are involved in all stages of the product lifecycle, from concept and design to production and post-launch support. Their primary tasks include conducting research and analysis to identify product improvements, collaborating with design teams to develop prototypes, performing feasibility studies and risk assessments, and coordinating with manufacturing teams to ensure smooth production processes. They also provide technical expertise and guidance to junior engineers, troubleshoot and resolve any product-related issues, and stay updated on industry trends and advancements.

Skills: senior product engineer, product development, cross-functional collaboration, quality assurance, product lifecycle management, technical expertise.
Job industry: Manufacturing

How much does Senior Product Engineer make?

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


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Salary comparison to National average

Is Senior Product Engineer a well paid job?

Yes, our data show that Senior Product Engineer 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 Product Engineer?

High salary for Senior Product Engineer would be somewhere between 20,040,727 ISK and 26,417,322 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Senior Product Engineer 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: 18,218,843 ISK
Estimated Monthly Salary: 1,518,237 ISK
Estimated Weekly Salary: 350,362 ISK per week
Estimated Hourly Salary: 8,759 ISK per hour
By working as Senior Product Engineer a person can save up to 7,929 USD per month or 95,150 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 Product Engineer

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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