Average Depot Manager Salary in Iceland for 2024

In this article, we will look at the average Depot Manager salary for 2024 in Iceland and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Icelandic króna. To keep things simple, we are using the ISK currency code instead of the currency symbol kr.

How Much Does a Depot Manager Make in Iceland?

A Depot Manager working in Iceland will typically earn around 9,166,100 ISK per year, and this can range from the lowest average salary of about 4,211,600 ISK to the highest average salary of 14,519,400 ISK.

Average Annual Salary
9,166,100 ISK
Average Monthly Salary
763,841 ISK

Lowest Annual Salary
4,211,600 ISK
Lowest Monthly Salary
350,966 ISK

Highest Annual Salary
14,519,400 ISK
Highest Monthly Salary
1,209,950 ISK

These are average salaries for a Depot Manager in Iceland and include benefits such as housing and transport. It's also possible for a Depot Manager to earn more or less than the average salaries shown above.

Depot Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Depot Manager Salaries in Iceland

So we've looked at the average salaries a Depot Manager will earn in Iceland. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Depot Manager can earn between 4,211,600 ISK and 14,519,400 ISK on average in Iceland. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Depot Manager in Iceland is 9,899,400 ISK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 9,899,400 ISK, and 50% of the population earn more than 9,899,400 ISK.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Depot Manager salary in Iceland, 25% of the population are earning less than 6,347,100 ISK while 75% of the population earn more than 6,347,100 ISK.

75% of the population earn less than 13,199,100 ISK, and 25% of the population earn more than 13,199,100 ISK.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Depot Manager Salary by Experience Level in Iceland

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average depot manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Depot Manager in Iceland that has less than two years of experience can expect to earn somewhere in the region of 4,786,100 ISK.
  • 2 - 5 Years Experience. With two to five years of experience the average Depot Manager salary would increase to 6,382,300 ISK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Depot Manager, the average salary would be 9,442,200 ISK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 11,518,700 ISK.
  • 15 - 20 Years Experience. A Depot Manager with 15 to 20 years of experience can earn an average of 12,600,600 ISK.
  • 20+ Years Experience. For a Depot Manager with more than 20 years, the expected average salary increases to 13,561,900 ISK.

Average Salary by Experience Chart

0-2 Years
4,786,100 ISK
2-5 Years +34%
6,382,300 ISK
5-10 Years +48%
9,442,200 ISK
10-15 Years +22%
11,518,700 ISK
15-20 Years +9%
12,600,600 ISK
20+ Years +8%
13,561,900 ISK

Depot Manager Salary by Education Level in Iceland

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Depot Manager in Iceland based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Depot Manager in Iceland with a high school education can earn an average salary of 5,461,900 ISK.

  • Certificate or Diploma. A Depot Manager in Iceland with a certificate or diploma education can earn an average salary of 8,568,100 ISK.

  • Bachelor's Degree. A Depot Manager in Iceland with a bachelor's degree education can earn an average salary of 14,400,800 ISK.

Average Salary by Education Chart

High School
5,461,900 ISK
Certificate or Diploma +57%
8,568,100 ISK
Bachelor's Degree +68%
14,400,800 ISK

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Iceland is around 3,440,000 to 10,300,000 ISK and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Depot Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Iceland, a male depot manager will earn an average of 8,952,900 ISK, while a female depot manager will earn around 9,372,400 ISK.

This means that a male depot manager earns approximately 4% less than a female depot manager for performing the same job.

Average Salary by Gender Chart in Iceland

Male
8,952,900 ISK
Female +4%
9,372,400 ISK

Depot Manager Average Pay Raise in Iceland

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Depot Manager in Iceland is around 7% every 29 months.

The national average pay raise across all professions and industries in Iceland is around 4% every 29 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 7 ÷ 29 ) × 12  = 3%

What this means is that a Depot Manager in Iceland can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Iceland for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Iceland.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Depot Manager Bonus and Incentive Rates in Iceland

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Depot Manager is a moderate bonus based job, with 66% of employees reporting at least one bonus in the last 12 months.

34% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
66%
No Bonus
34%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Iceland earn approximately 25% more than private sector employees in the same role.

Public Sector
9,154,500 ISK
Private Sector -25%
7,331,800 ISK

Salaries for Jobs Similar to a Depot Manager

In the table below, we have salary information for jobs that are similar to a Depot Manager in Iceland.

Job Title Category Salary
Account Manager Sales Retail and Wholesale 8,638,900 ISK
Account Officer Sales Retail and Wholesale 5,017,100 ISK
Area Manager Sales Retail and Wholesale 9,430,600 ISK
Area Sales Director Sales Retail and Wholesale 16,439,200 ISK
Area Sales Manager Sales Retail and Wholesale 12,841,200 ISK
Assisstant Store Supervisor Sales Retail and Wholesale 5,555,200 ISK
Assistant Department Manager Sales Retail and Wholesale 6,382,300 ISK
Assistant Retail Store Manager Sales Retail and Wholesale 6,997,000 ISK
Branch Manager Sales Retail and Wholesale 9,565,900 ISK
Branch Supervisor Sales Retail and Wholesale 7,669,900 ISK
Cashier Sales Retail and Wholesale 2,868,600 ISK
Cashier Manager Sales Retail and Wholesale 6,709,300 ISK
Commercial Sales Manager Sales Retail and Wholesale 11,998,600 ISK
Corporate Sales Manager Sales Retail and Wholesale 11,365,600 ISK
Depot Supervisor Sales Retail and Wholesale 8,434,700 ISK
Deputy Sales Manager Sales Retail and Wholesale 8,975,900 ISK
Director of Sales Sales Retail and Wholesale 15,118,700 ISK
Distribution Director Sales Retail and Wholesale 10,403,600 ISK
District Leader Sales Retail and Wholesale 7,453,000 ISK
District Manager Sales Retail and Wholesale 9,528,200 ISK
District Sales Manager Sales Retail and Wholesale 9,576,900 ISK
External Sales Account Manager Sales Retail and Wholesale 9,082,500 ISK
Field Sales Representative Sales Retail and Wholesale 6,263,400 ISK
Furniture Sales Associate Sales Retail and Wholesale 4,224,200 ISK
Global Wholesale Manager Sales Retail and Wholesale 16,679,800 ISK
Head Cashier Sales Retail and Wholesale 6,322,500 ISK
Head of Direct Sales Sales Retail and Wholesale 11,674,300 ISK
Head of Retail Sales Retail and Wholesale 11,399,200 ISK
Head Teller Sales Retail and Wholesale 6,322,500 ISK
Inside Sales Sales Retail and Wholesale 4,956,800 ISK
Inside Sales Account Manager Sales Retail and Wholesale 7,957,900 ISK
Inside Sales Engineer Sales Retail and Wholesale 5,794,900 ISK
Inside Sales Executive Sales Retail and Wholesale 8,545,000 ISK
Inside Sales Representative Sales Retail and Wholesale 5,507,100 ISK
Internal Sales Manager Sales Retail and Wholesale 9,372,400 ISK
Inventory Manager Sales Retail and Wholesale 9,205,400 ISK
Key Account Manager Sales Retail and Wholesale 8,701,100 ISK
Medical Device Sales Sales Retail and Wholesale 7,174,700 ISK
Medical Device Sales Representative Sales Retail and Wholesale 7,174,700 ISK
Merchandiser Sales Retail and Wholesale 6,142,600 ISK
National Account Manager Sales Retail and Wholesale 12,239,700 ISK
National Customer Solution Specialist Sales Retail and Wholesale 10,560,900 ISK
National Sales Manager Sales Retail and Wholesale 16,439,200 ISK
Outside Sales Representative Sales Retail and Wholesale 6,216,700 ISK
Parts Salesperson Sales Retail and Wholesale 4,919,600 ISK
Project Development Manager Sales Retail and Wholesale 10,403,600 ISK
Project Manager Sales Retail and Wholesale 10,333,800 ISK
Project Sales Executive Sales Retail and Wholesale 10,102,100 ISK
Purchasing and Sales Executive Sales Retail and Wholesale 14,639,900 ISK
Quotation Engineer Sales Retail and Wholesale 4,870,300 ISK
Regional Sales Director Sales Retail and Wholesale 15,838,200 ISK
Regional Sales Manager Sales Retail and Wholesale 16,320,700 ISK
Relationship Manager Sales Retail and Wholesale 11,173,600 ISK
Retail Merchandiser Sales Retail and Wholesale 3,648,200 ISK
Retail Operations Manager Sales Retail and Wholesale 9,649,800 ISK
Retail Sales Associate Sales Retail and Wholesale 6,815,700 ISK
Retail Sales Representative Sales Retail and Wholesale 5,483,600 ISK
Retail Salesperson Sales Retail and Wholesale 5,038,200 ISK
Retail Store Manager Sales Retail and Wholesale 9,623,400 ISK
Retail Store Sales Person Sales Retail and Wholesale 4,956,800 ISK
Revenue Manager Sales Retail and Wholesale 9,372,400 ISK
Sales Account Manager Sales Retail and Wholesale 10,282,900 ISK
Sales Admin Executive Sales Retail and Wholesale 12,721,300 ISK
Sales Administration Manager Sales Retail and Wholesale 11,674,300 ISK
Sales Analyst Sales Retail and Wholesale 9,133,400 ISK
Sales Assistant Sales Retail and Wholesale 3,659,400 ISK
Sales Associate Sales Retail and Wholesale 4,943,500 ISK
Sales Consultant Sales Retail and Wholesale 7,081,500 ISK
Sales Coordinator Sales Retail and Wholesale 5,340,600 ISK
Sales Development Representative Sales Retail and Wholesale 6,048,900 ISK
Sales Director Sales Retail and Wholesale 15,001,200 ISK
Sales Engineer Sales Retail and Wholesale 5,545,500 ISK
Sales Executive Sales Retail and Wholesale 9,850,400 ISK
Sales Manager Sales Retail and Wholesale 13,079,500 ISK
Sales Officer Sales Retail and Wholesale 5,076,600 ISK
Sales Planner Sales Retail and Wholesale 7,801,800 ISK
Sales Planning Analyst Sales Retail and Wholesale 8,159,800 ISK
Sales Representative Sales Retail and Wholesale 4,943,500 ISK
Sales Service Associate Sales Retail and Wholesale 4,570,300 ISK
Sales Specialist Sales Retail and Wholesale 7,572,700 ISK
Sales Supervisor Sales Retail and Wholesale 7,777,400 ISK
Sales Support Sales Retail and Wholesale 3,577,600 ISK
Sales Support Manager Sales Retail and Wholesale 8,329,200 ISK
Sales Team Leader Sales Retail and Wholesale 8,290,700 ISK
Sales Trainer Sales Retail and Wholesale 8,737,100 ISK
Securities Sales Agent Sales Retail and Wholesale 8,471,700 ISK
Shipper / Receiver Sales Retail and Wholesale 3,889,500 ISK
Shop Manager Sales Retail and Wholesale 8,926,700 ISK
Store Development Administrator Sales Retail and Wholesale 6,193,900 ISK
Store Manager Sales Retail and Wholesale 9,586,500 ISK
Territory Sales Manager Sales Retail and Wholesale 13,199,100 ISK
Territory Sales Representative Sales Retail and Wholesale 7,381,700 ISK
Trade Marketing Officer Sales Retail and Wholesale 8,377,500 ISK
Treasury Officer Sales Retail and Wholesale 7,930,200 ISK
Vice President Sales Sales Retail and Wholesale 12,721,300 ISK
Visual Merchandiser Sales Retail and Wholesale 4,475,900 ISK

Salary Comparison by City

If you want to compare salaries with different cities in Iceland, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Reykjavik 10,057,900 ISK

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