Home > Salary > Iceland > Underwriter Business Banking
An underwriter in business banking is responsible for assessing and evaluating loan applications and creditworthiness of businesses. They analyze financial statements, cash flow projections, market trends, and risk factors to determine the viability of lending to a company. Underwriters also review collateral and ensure compliance with lending policies and regulations. They communicate with clients, gather necessary documentation, and provide recommendations for loan approval or denial. Additionally, underwriters monitor existing loans, assess potential risks, and make recommendations for modifications or renewals. This role requires strong analytical skills, attention to detail, and knowledge of financial markets and lending practices.
Estimated Yearly Salary: 12,284,151 ISK
Estimated Monthly Salary: 1,023,679 ISK
Estimated Weekly Salary: 236,234 ISK per week
Estimated Hourly Salary: 5,906 ISK per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 992,456 ISK
Estimated Weekly Salary: 229,028 ISK per week
Estimated Hourly Salary: 5,726 ISK per hour
Last revision of data: 2024-01-06
Estimated Yearly Salary: 86,107 USD
Estimated Monthly Salary: 7,176 USD
Estimated Weekly Salary: 1,656 USD per week
Estimated Hourly Salary: 41 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 12,284,151 ISK
Estimated Monthly Salary: 1,023,679 ISK
Estimated Weekly Salary: 236,234 ISK per week
Estimated Hourly Salary: 5,906 ISK per hour
By working as Underwriter Business Banking a person can save up to 4,447 USD per month or 53,361 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.
Estimated Yearly Salary for Underwriter Business Banking
Last revision of data: 2025-01-04
Data as of 2025
Random salary:
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Underwriter Business Banking salary in Iceland
Average Yearly Salary of Underwriter Business Banking in Iceland is approximately 12,284,151 ISK (86,107 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 Underwriter Business Banking do?
An underwriter in business banking is responsible for assessing and evaluating loan applications and creditworthiness of businesses. They analyze financial statements, cash flow projections, market trends, and risk factors to determine the viability of lending to a company. Underwriters also review collateral and ensure compliance with lending policies and regulations. They communicate with clients, gather necessary documentation, and provide recommendations for loan approval or denial. Additionally, underwriters monitor existing loans, assess potential risks, and make recommendations for modifications or renewals. This role requires strong analytical skills, attention to detail, and knowledge of financial markets and lending practices.
Skills: underwriter, business banking, credit analysis, risk assessment, financial analysis, loan approval.
Job industry: Banking
Job industry: Banking
How much does Underwriter Business Banking make?
Salary details
How much does Underwriter Business Banking make?Estimated Yearly Salary: 12,284,151 ISK
Estimated Monthly Salary: 1,023,679 ISK
Estimated Weekly Salary: 236,234 ISK per week
Estimated Hourly Salary: 5,906 ISK per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 11,909,469 ISKEstimated Monthly Salary: 992,456 ISK
Estimated Weekly Salary: 229,028 ISK per week
Estimated Hourly Salary: 5,726 ISK per hour
Last revision of data: 2024-01-06Underwriter Business Banking estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 86,107 USD
Estimated Monthly Salary: 7,176 USD
Estimated Weekly Salary: 1,656 USD per week
Estimated Hourly Salary: 41 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
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Salary comparison to National average
Iceland, a Nordic island country located in the North Atlantic Ocean, is known for its stunning natural landscapes and unique geological features. With a population of approximately 366,000 people, Iceland is one of the least densely populated countries in Europe. The country covers an area of about 103,000 square kilometers, making it the 18th largest island in the world.
Estimated national average yearly salary is 8,949,782 ISK (68,220 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Business Banking job salary compared to average salary in Iceland.
Comparison shows that a person working as Underwriter Business Banking in Iceland earns on average:
1.37 times the average salary (or 137% of average salary).
Estimated national average yearly salary is 8,949,782 ISK (68,220 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Business Banking job salary compared to average salary in Iceland.
Comparison shows that a person working as Underwriter Business Banking in Iceland earns on average:
1.37 times the average salary (or 137% of average salary).
Is Underwriter Business Banking a well paid job?
Yes, our data shows that Underwriter Business Banking 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 Underwriter Business Banking?
High salary for Underwriter Business Banking would be somewhere between 13,512,566 ISK and 17,812,019 ISK. However this is an estimation based on Gaussian Distribution.How much can you save working as Underwriter Business Banking 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: 12,284,151 ISK
Estimated Monthly Salary: 1,023,679 ISK
Estimated Weekly Salary: 236,234 ISK per week
Estimated Hourly Salary: 5,906 ISK per hour
By working as Underwriter Business Banking a person can save up to 4,447 USD per month or 53,361 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 Underwriter Business Banking
Norway is 120,712 USD
United Kingdom is 56,686 USD
Last revision of data: 2025-01-04Salary 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 increaseTop 10 highest salaries in Iceland
(101,519,791 ISK per year, pre-tax.)
2. Cardiologist
(84,892,494 ISK per year, pre-tax.)
(82,036,676 ISK per year, pre-tax.)
4. Neurosurgeon
(79,530,435 ISK per year, pre-tax.)
(79,217,486 ISK per year, pre-tax.)
(77,544,423 ISK per year, pre-tax.)
(77,443,218 ISK per year, pre-tax.)
(77,278,803 ISK per year, pre-tax.)
9. Oncologist
(77,260,671 ISK per year, pre-tax.)
(77,231,503 ISK per year, pre-tax.)
Data as of 2025Random salary:
Builder operator (5,190,926 ISK per year, pre-tax.)
Chiropractor assistant (3,479,555 ISK per year, pre-tax.)
Sales representative government (7,275,339 ISK per year, pre-tax.)
Gis business analyst (9,805,977 ISK per year, pre-tax.)
Employee training specialist (3,716,726 ISK per year, pre-tax.)
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