Average Investment Broker Salary in Faroe Islands for 2024

In this article, we will look at the average Investment Broker salary for 2024 in Faroe Islands 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 Danish krone. To keep things simple, we are using the DKK currency code instead of the currency symbol kr.

How Much Does an Investment Broker Make in Faroe Islands?

An Investment Broker working in Faroe Islands will typically earn around 366,200 DKK per year, and this can range from the lowest average salary of about 187,300 DKK to the highest average salary of 562,600 DKK.

Average Annual Salary
366,200 DKK
Average Monthly Salary
30,516 DKK

Lowest Annual Salary
187,300 DKK
Lowest Monthly Salary
15,608 DKK

Highest Annual Salary
562,600 DKK
Highest Monthly Salary
46,883 DKK

These are average salaries for an Investment Broker in Faroe Islands and include benefits such as housing and transport. It's also possible for an Investment Broker to earn more or less than the average salaries shown above.

Investment Broker 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 Investment Broker Salaries in Faroe Islands

So we've looked at the average salaries an Investment Broker will earn in Faroe Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Investment Broker can earn between 187,300 DKK and 562,600 DKK on average in Faroe Islands. 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 an Investment Broker in Faroe Islands is 359,900 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 359,900 DKK, and 50% of the population earn more than 359,900 DKK.

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 Investment Broker salary in Faroe Islands, 25% of the population are earning less than 246,200 DKK while 75% of the population earn more than 246,200 DKK.

75% of the population earn less than 453,200 DKK, and 25% of the population earn more than 453,200 DKK.

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.

Investment Broker Salary by Experience Level in Faroe Islands

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 investment broker 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. An Investment Broker in Faroe Islands that has less than two years of experience can expect to earn somewhere in the region of 208,600 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Investment Broker salary would increase to 275,200 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as an Investment Broker, the average salary would be 384,200 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 459,300 DKK.
  • 15 - 20 Years Experience. An Investment Broker with 15 to 20 years of experience can earn an average of 498,000 DKK.
  • 20+ Years Experience. For an Investment Broker with more than 20 years, the expected average salary increases to 539,800 DKK.

Average Salary by Experience Chart

0-2 Years
208,600 DKK
2-5 Years +31%
275,200 DKK
5-10 Years +40%
384,200 DKK
10-15 Years +20%
459,300 DKK
15-20 Years +9%
498,000 DKK
20+ Years +8%
539,800 DKK

Investment Broker Salary by Education Level in Faroe Islands

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 an Investment Broker in Faroe Islands based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. An Investment Broker in Faroe Islands with a high school education can earn an average salary of 249,600 DKK.

  • Certificate or Diploma. An Investment Broker in Faroe Islands with a certificate or diploma education can earn an average salary of 286,400 DKK.

  • Bachelor's Degree. An Investment Broker in Faroe Islands with a bachelor's degree education can earn an average salary of 404,600 DKK.

  • Master's Degree. An Investment Broker in Faroe Islands with a master's degree education can earn an average salary of 520,900 DKK.

Average Salary by Education Chart

High School
249,600 DKK
Certificate or Diploma +15%
286,400 DKK
Bachelor's Degree +41%
404,600 DKK
Master's Degree +29%
520,900 DKK

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 Faroe Islands is around 134,000 to 401,000 DKK 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.

Investment Broker 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 Faroe Islands, a male investment broker will earn an average of 394,300 DKK, while a female investment broker will earn around 340,400 DKK.

This means that a male investment broker earns approximately 16% more than a female investment broker for performing the same job.

Average Salary by Gender Chart in Faroe Islands

Male
394,300 DKK
Female -16%
340,400 DKK

Investment Broker Average Pay Raise in Faroe Islands

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 an Investment Broker in Faroe Islands is around 7% every 29 months.

The national average pay raise across all professions and industries in Faroe Islands 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 an Investment Broker in Faroe Islands can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Faroe Islands for 2024

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

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

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Investment Broker Bonus and Incentive Rates in Faroe Islands

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.

An Investment Broker is a low bonus based job, with 12% of employees reporting at least one bonus in the last 12 months.

88% 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 1% to 3%.

Received Bonus
12%
No Bonus
88%

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 Faroe Islands earn approximately 19% more than private sector employees in the same role.

Public Sector
352,000 DKK
Private Sector -19%
297,000 DKK

Salaries for Jobs Similar to an Investment Broker

In the table below, we have salary information for jobs that are similar to an Investment Broker in Faroe Islands.

Job Title Category Salary
Account Examiner Accounting and Finance 167,100 DKK
Account Executive Accounting and Finance 282,300 DKK
Accountant Accounting and Finance 216,800 DKK
Accounting Analyst Accounting and Finance 282,500 DKK
Accounting Assistant Accounting and Finance 163,800 DKK
Accounting Associate Accounting and Finance 159,100 DKK
Accounting Clerk Accounting and Finance 134,600 DKK
Accounting Coordinator Accounting and Finance 200,000 DKK
Accounting Head Accounting and Finance 448,500 DKK
Accounting Manager Accounting and Finance 476,600 DKK
Accounting Officer Accounting and Finance 168,100 DKK
Accounting Specialist Accounting and Finance 296,000 DKK
Accounting Supervisor Accounting and Finance 313,700 DKK
Accounting Technician Accounting and Finance 158,700 DKK
Accounting Unit Controller Accounting and Finance 377,200 DKK
Accounts Executive Accounting and Finance 267,100 DKK
Accounts Officer Accounting and Finance 168,100 DKK
Accounts Payable and Receivable Specialist Accounting and Finance 228,000 DKK
Accounts Payable Assistant Accounting and Finance 185,100 DKK
Accounts Payable Associate Accounting and Finance 194,600 DKK
Accounts Payable Clerk Accounting and Finance 161,300 DKK
Accounts Payable Manager Accounting and Finance 417,100 DKK
Accounts Receivable Administrator Accounting and Finance 308,300 DKK
Accounts Receivable Clerk Accounting and Finance 169,000 DKK
Accounts Receivable Financial Analyst Accounting and Finance 299,500 DKK
Accounts Receivable Manager Accounting and Finance 430,000 DKK
Accounts Receivable Team Leader Accounting and Finance 318,800 DKK
Assistant Accountant Accounting and Finance 172,200 DKK
Assistant Accounting Manager Accounting and Finance 424,900 DKK
Assistant Auditor Accounting and Finance 210,500 DKK
Assistant Corporate Controller Accounting and Finance 297,000 DKK
Assistant Finance Manager Accounting and Finance 450,300 DKK
Assistant Financial Controller Accounting and Finance 309,800 DKK
Audit Director Accounting and Finance 524,300 DKK
Audit Supervisor Accounting and Finance 385,300 DKK
Auditing Clerk Accounting and Finance 168,100 DKK
Auditing Manager Accounting and Finance 478,000 DKK
Billing Clerk Accounting and Finance 161,300 DKK
Billing Coordinator Accounting and Finance 207,700 DKK
Billing Specialist Accounting and Finance 228,000 DKK
Billing Supervisor Accounting and Finance 322,600 DKK
Bookkeeper Accounting and Finance 150,000 DKK
Bookkeeping Specialist Accounting and Finance 212,500 DKK
Budget Analyst Accounting and Finance 378,800 DKK
Budget Manager Accounting and Finance 442,200 DKK
Business Support Analyst Accounting and Finance 239,000 DKK
Capital Markets Associate Accounting and Finance 315,900 DKK
Cash Flow Analyst Accounting and Finance 344,600 DKK
Cash Management Manager Accounting and Finance 442,200 DKK
Cash Management Officer Accounting and Finance 247,800 DKK
Cashbook Clerk Accounting and Finance 152,100 DKK
Chartered Accountant Accounting and Finance 267,100 DKK
Chief Accountant Accounting and Finance 341,400 DKK
Collections Clerk Accounting and Finance 134,600 DKK
Collections Representative Accounting and Finance 183,700 DKK
Collections Specialist Accounting and Finance 228,500 DKK
Corporate Controller Accounting and Finance 365,400 DKK
Corporate Treasurer Accounting and Finance 424,900 DKK
Cost Accountant Accounting and Finance 221,500 DKK
Cost Accounting Manager Accounting and Finance 426,700 DKK
Cost Accounting Supervisor Accounting and Finance 340,400 DKK
Cost Analyst Accounting and Finance 332,100 DKK
Credit and Collection Manager Accounting and Finance 428,400 DKK
Credit and Collection Staff Accounting and Finance 172,200 DKK
Credit and Loans Officer Accounting and Finance 161,600 DKK
Credit Controller Accounting and Finance 312,400 DKK
Credit Manager Accounting and Finance 454,900 DKK
Debt Adviser Accounting and Finance 357,300 DKK
Debt Collector Accounting and Finance 187,500 DKK
Debtors Clerk Accounting and Finance 159,100 DKK
Debtors Controller Accounting and Finance 168,100 DKK
Deputy CFO Accounting and Finance 612,500 DKK
Deputy Head of Finance Accounting and Finance 574,200 DKK
Derivative Trader Accounting and Finance 394,800 DKK
Director of Finance Accounting and Finance 658,300 DKK
Economist Accounting and Finance 529,600 DKK
Equity Analyst Accounting and Finance 384,500 DKK
Escrow Assistant Accounting and Finance 190,500 DKK
Executive Accountant Accounting and Finance 257,700 DKK
External Auditor Accounting and Finance 314,500 DKK
Finance Administrator Accounting and Finance 263,900 DKK
Finance Analyst Accounting and Finance 382,600 DKK
Finance Associate Accounting and Finance 192,000 DKK
Finance Director Accounting and Finance 629,800 DKK
Finance Executive Accounting and Finance 475,700 DKK
Finance Licensing Clerk Accounting and Finance 163,800 DKK
Finance Licensing Manager Accounting and Finance 420,800 DKK
Finance Licensing Specialist Accounting and Finance 232,400 DKK
Finance Manager Accounting and Finance 643,400 DKK
Finance Officer Accounting and Finance 209,500 DKK
Finance President Accounting and Finance 671,000 DKK
Finance Relationship Manager Accounting and Finance 510,200 DKK
Finance Release Analyst Accounting and Finance 259,100 DKK
Finance Specialist Accounting and Finance 367,200 DKK
Finance Team Leader Accounting and Finance 501,400 DKK
Financial Accountant Accounting and Finance 225,700 DKK
Financial Actuary Accounting and Finance 335,100 DKK
Financial Administrator Accounting and Finance 362,200 DKK
Financial Advisor Accounting and Finance 392,300 DKK
Financial Analyst Accounting and Finance 386,400 DKK
Financial Applications Specialist Accounting and Finance 275,200 DKK
Financial Assistant Accounting and Finance 172,200 DKK
Financial Associate Accounting and Finance 174,000 DKK
Financial Associate Accounting and Finance 200,000 DKK
Financial Claims Analyst Accounting and Finance 305,600 DKK
Financial Claims Manager Accounting and Finance 390,000 DKK
Financial Claims Supervisor Accounting and Finance 351,200 DKK
Financial Clerk Accounting and Finance 168,100 DKK
Financial Commercial Analyst Accounting and Finance 319,600 DKK
Financial Compliance Analyst Accounting and Finance 341,400 DKK
Financial Consultant Accounting and Finance 281,500 DKK
Financial Controller Accounting and Finance 341,900 DKK
Financial Controller Accounting and Finance 361,500 DKK
Financial Coordinator Accounting and Finance 195,200 DKK
Financial Customer Service Manager Accounting and Finance 386,400 DKK
Financial Dealer and Broker Accounting and Finance 238,900 DKK
Financial Director Accounting and Finance 663,100 DKK
Financial Encoder Accounting and Finance 192,000 DKK
Financial Manager Accounting and Finance 588,500 DKK
Financial Manager Accounting and Finance 648,200 DKK
Financial Operations Manager Accounting and Finance 547,800 DKK
Financial Policy Analyst Accounting and Finance 351,900 DKK
Financial Project Manager Accounting and Finance 444,300 DKK
Financial Quantitative Analyst Accounting and Finance 365,400 DKK
Financial Reporting Consultant Accounting and Finance 315,700 DKK
Financial Reporting Manager Accounting and Finance 431,300 DKK
Financial Section Head Accounting and Finance 417,100 DKK
Financial Services Manager Accounting and Finance 572,200 DKK
Financial Services Sales Agent Accounting and Finance 243,000 DKK
Fixed Assets Administrator Accounting and Finance 225,700 DKK
Forensic Accountant Accounting and Finance 257,700 DKK
Fraud Detection Supervisor Accounting and Finance 281,500 DKK
Fraud Prevention Manager Accounting and Finance 453,200 DKK
Fund Accountant Accounting and Finance 204,000 DKK
Grants Coordinator Accounting and Finance 161,600 DKK
Group Financial Manager Accounting and Finance 628,000 DKK
Internal Auditor Accounting and Finance 288,700 DKK
Internal Control Adviser Accounting and Finance 359,900 DKK
Internal Control Officer Accounting and Finance 191,600 DKK
International Tax Director Accounting and Finance 528,500 DKK
Inventory Accountant Accounting and Finance 231,000 DKK
Investment Advisor Accounting and Finance 618,800 DKK
Investment Analyst Accounting and Finance 445,100 DKK
Investment Associate Accounting and Finance 367,900 DKK
Investment Fund Manager Accounting and Finance 472,100 DKK
Investment Operations Manager Accounting and Finance 472,000 DKK
Investment Underwriter Accounting and Finance 194,600 DKK
Investor Accounting and Finance 294,300 DKK
Investor Relations Manager Accounting and Finance 444,300 DKK
KYC Team Leader Accounting and Finance 417,200 DKK
Loan Processor Accounting and Finance 189,300 DKK
Management Accountant Accounting and Finance 233,900 DKK
Management Economist Accounting and Finance 516,100 DKK
Paymaster Accounting and Finance 180,300 DKK
Payroll Administrator Accounting and Finance 301,700 DKK
Payroll Benefits Coordinator Accounting and Finance 247,800 DKK
Payroll Billing Manager Accounting and Finance 397,900 DKK
Payroll Clerk Accounting and Finance 194,600 DKK
Payroll Manager Accounting and Finance 396,300 DKK
Payroll Officer Accounting and Finance 185,100 DKK
Payroll Specialist Accounting and Finance 239,000 DKK
Payroll Supervisor Accounting and Finance 268,900 DKK
Pensions Administrator Accounting and Finance 233,600 DKK
Personal Financial Advisor Accounting and Finance 318,800 DKK
Pricing Analyst Accounting and Finance 361,600 DKK
Private Equity Analyst Accounting and Finance 371,100 DKK
Project Accountant Accounting and Finance 228,000 DKK
Proposal Development Coordinator Accounting and Finance 195,200 DKK
Receivables Accountant Accounting and Finance 209,700 DKK
Regulatory Accountant Accounting and Finance 233,600 DKK
Retirement Plan Analyst Accounting and Finance 365,400 DKK
Revenue Management Specialist Accounting and Finance 367,900 DKK
Revenue Recognition Analyst Accounting and Finance 424,900 DKK
Risk Management Director Accounting and Finance 551,200 DKK
Risk Management Supervisor Accounting and Finance 442,200 DKK
Staff Accountant Accounting and Finance 208,600 DKK
Tax Accountant Accounting and Finance 197,600 DKK
Tax Administrator Accounting and Finance 233,900 DKK
Tax Advisor Accounting and Finance 320,500 DKK
Tax Analyst Accounting and Finance 344,600 DKK
Tax Associate Accounting and Finance 192,600 DKK
Tax Consultant Accounting and Finance 348,300 DKK
Tax Director Accounting and Finance 493,000 DKK
Tax Examiner Accounting and Finance 225,300 DKK
Tax Manager Accounting and Finance 440,200 DKK
Tax Research Manager Accounting and Finance 431,100 DKK
Teller Accounting and Finance 136,100 DKK
Treasury Accountant Accounting and Finance 231,000 DKK
Treasury Analyst Accounting and Finance 367,900 DKK
Underwriter Accounting and Finance 152,100 DKK
Underwriting Assistant Accounting and Finance 139,100 DKK
Vice President of Finance Accounting and Finance 625,000 DKK

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