Underwriter Trainee salary in Iceland

Average Yearly Salary of Underwriter Trainee in Iceland is approximately 10,368,853 ISK (72,120 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 Trainee do?

An underwriter trainee is an entry-level professional who is trained in the field of insurance underwriting. Underwriters assess and evaluate insurance applications to determine the level of risk associated with insuring a person or property. As a trainee, one would work closely with experienced underwriters to learn about the industry's standards, policies, and procedures. They would analyze various factors such as financial statements, medical records, and other relevant documents to make informed decisions on insurability and coverage terms. Underwriter trainees also assist in reviewing policy renewals, making recommendations for adjustments, and providing support to clients and agents.

Skills: underwriter trainee, insurance, risk assessment, policy analysis, financial evaluation, client support.
Job industry: Insurance

How much does Underwriter Trainee make?

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


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Salary comparison to National average

Is Underwriter Trainee a well paid job?

Yes, our data show that Underwriter Trainee is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Underwriter Trainee?

High salary for Underwriter Trainee would be somewhere between 11,405,738 ISK and 15,034,837 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriter Trainee 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: 10,368,853 ISK
Estimated Monthly Salary: 864,071 ISK
Estimated Weekly Salary: 199,401 ISK per week
Estimated Hourly Salary: 4,985 ISK per hour
By working as Underwriter Trainee a person can save up to 3,281 USD per month or 39,374 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 Trainee

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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