Average Physicist Salary in Faroe Islands for 2024

In this article, we will look at the average Physicist 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 a Physicist Make in Faroe Islands?

A Physicist working in Faroe Islands will typically earn around 623,700 DKK per year, and this can range from the lowest average salary of about 318,800 DKK to the highest average salary of 960,900 DKK.

Average Annual Salary
623,700 DKK
Average Monthly Salary
51,975 DKK

Lowest Annual Salary
318,800 DKK
Lowest Monthly Salary
26,566 DKK

Highest Annual Salary
960,900 DKK
Highest Monthly Salary
80,075 DKK

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

Physicist 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 Physicist Salaries in Faroe Islands

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

Salary ranges

We already know that a Physicist can earn between 318,800 DKK and 960,900 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 a Physicist in Faroe Islands is 612,500 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 612,500 DKK, and 50% of the population earn more than 612,500 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 Physicist salary in Faroe Islands, 25% of the population are earning less than 419,400 DKK while 75% of the population earn more than 419,400 DKK.

75% of the population earn less than 769,500 DKK, and 25% of the population earn more than 769,500 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.

Physicist 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 physicist 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 Physicist in Faroe Islands that has less than two years of experience can expect to earn somewhere in the region of 357,300 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Physicist salary would increase to 464,900 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Physicist, the average salary would be 650,700 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 782,500 DKK.
  • 15 - 20 Years Experience. A Physicist with 15 to 20 years of experience can earn an average of 849,200 DKK.
  • 20+ Years Experience. For a Physicist with more than 20 years, the expected average salary increases to 919,700 DKK.

Average Salary by Experience Chart

0-2 Years
357,300 DKK
2-5 Years +31%
464,900 DKK
5-10 Years +40%
650,700 DKK
10-15 Years +20%
782,500 DKK
15-20 Years +9%
849,200 DKK
20+ Years +8%
919,700 DKK

Physicist 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 a Physicist 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.

  • Bachelor's Degree. A Physicist in Faroe Islands with a bachelor's degree education can earn an average salary of 420,100 DKK.

  • Master's Degree. A Physicist in Faroe Islands with a master's degree education can earn an average salary of 626,800 DKK.

  • PhD. A Physicist in Faroe Islands with a phd education can earn an average salary of 907,100 DKK.

Average Salary by Education Chart

Bachelor's Degree
420,100 DKK
Master's Degree +49%
626,800 DKK
PhD +45%
907,100 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.

Physicist 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 physicist will earn an average of 674,100 DKK, while a female physicist will earn around 578,500 DKK.

This means that a male physicist earns approximately 17% more than a female physicist for performing the same job.

Average Salary by Gender Chart in Faroe Islands

Male
674,100 DKK
Female -17%
578,500 DKK

Physicist 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 a Physicist in Faroe Islands is around 8% every 30 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 = ( 8 ÷ 30 ) × 12  = 3%

What this means is that a Physicist 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%

Physicist 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.

A Physicist is a low bonus based job, with 38% of employees reporting at least one bonus in the last 12 months.

62% 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 3% to 6%.

Received Bonus
38%
No Bonus
62%

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 a Physicist

In the table below, we have salary information for jobs that are similar to a Physicist in Faroe Islands.

Job Title Category Salary
3D Lab Technologist Science and Technical Services 296,000 DKK
Algorithm Developer Science and Technical Services 394,300 DKK
Analytical Chemist Science and Technical Services 590,200 DKK
Anthropologist Science and Technical Services 420,100 DKK
Archeologist Science and Technical Services 366,200 DKK
Assistant Breeder Science and Technical Services 201,100 DKK
Astronomer Science and Technical Services 679,200 DKK
Atmospheric and Space Scientist Science and Technical Services 580,600 DKK
Behavior Analyst Science and Technical Services 382,600 DKK
Behavior Intervention Specialist Science and Technical Services 412,000 DKK
Behavior Specialist Science and Technical Services 411,400 DKK
Biochemist Science and Technical Services 674,100 DKK
Biofuels Processing Technician Science and Technical Services 263,100 DKK
Biofuels Production Manager Science and Technical Services 454,300 DKK
Biologist Science and Technical Services 667,400 DKK
Biomedical Laboratory Officer Science and Technical Services 254,700 DKK
Biomedical Scientist Science and Technical Services 677,100 DKK
Biophysicist Science and Technical Services 628,000 DKK
Chemical Engineer Science and Technical Services 294,700 DKK
Chemical Technologist Science and Technical Services 307,400 DKK
Chemist Science and Technical Services 607,400 DKK
Chief Technologist Science and Technical Services 585,900 DKK
Climate Change Analyst Science and Technical Services 414,000 DKK
Clinical Laboratory Scientist Science and Technical Services 632,400 DKK
Computer Scientist Science and Technical Services 491,000 DKK
Conservation Scientist Science and Technical Services 516,100 DKK
Data Science Specialist Science and Technical Services 394,300 DKK
Data Scientist Science and Technical Services 498,500 DKK
DNA Analyst Science and Technical Services 631,200 DKK
Ecologist Science and Technical Services 496,100 DKK
Economic Development Specialist Science and Technical Services 485,200 DKK
Flavourist Science and Technical Services 225,300 DKK
Food Scientist Science and Technical Services 419,400 DKK
Forensic Scientist Science and Technical Services 552,400 DKK
Formulation Technologist Science and Technical Services 253,400 DKK
Fraud Investigator Science and Technical Services 327,800 DKK
Genomics Scientist Science and Technical Services 658,300 DKK
Geographer Science and Technical Services 340,400 DKK
Geographic Information Systems Technician Science and Technical Services 233,600 DKK
Geological Data Technician Science and Technical Services 217,900 DKK
Geological Technician Science and Technical Services 265,000 DKK
Geologist Science and Technical Services 522,700 DKK
Geomatics Scientist Science and Technical Services 510,300 DKK
Geophysical Data Technician Science and Technical Services 215,100 DKK
Geospatial Information Scientist and Technologist Science and Technical Services 472,100 DKK
Global Technical Lead Science and Technical Services 687,100 DKK
Hydrologist Science and Technical Services 426,700 DKK
Industrial Ecologist Science and Technical Services 433,800 DKK
Intelligence Analyst Science and Technical Services 407,100 DKK
Knowledge Management Specialist Science and Technical Services 319,600 DKK
Lab Analyst Science and Technical Services 275,200 DKK
Lab Manager Science and Technical Services 450,300 DKK
Lab Technician Science and Technical Services 196,800 DKK
Laboratory Manager Science and Technical Services 466,300 DKK
Laboratory Researcher Science and Technical Services 314,500 DKK
Laboratory Technician Science and Technical Services 204,000 DKK
Life Sciences Analyst Science and Technical Services 444,300 DKK
Life Scientist Science and Technical Services 510,200 DKK
Marine Architect Science and Technical Services 403,100 DKK
Marine Biologist Science and Technical Services 450,300 DKK
Marine Superintendent Science and Technical Services 282,300 DKK
Materials Analyst Science and Technical Services 290,800 DKK
Materials Scientist Science and Technical Services 472,000 DKK
Mathematician Science and Technical Services 537,300 DKK
Medical Scientist Science and Technical Services 693,100 DKK
Metallurgist Science and Technical Services 460,500 DKK
Meteorologist Science and Technical Services 448,500 DKK
Microbiologist Science and Technical Services 707,600 DKK
Natural Language Processing Researcher Science and Technical Services 390,000 DKK
Natural Resource Specialist Science and Technical Services 384,200 DKK
Natural Resources Analyst Science and Technical Services 401,300 DKK
Natural Sciences Manager Science and Technical Services 605,700 DKK
Nuclear Engineer Science and Technical Services 701,400 DKK
Physical Scientist Science and Technical Services 535,800 DKK
Political Scientist Science and Technical Services 518,300 DKK
Polygraph Examiner Science and Technical Services 176,800 DKK
Polysomnographic Technologist Science and Technical Services 294,300 DKK
Product Development Scientist Science and Technical Services 553,800 DKK
Quantitative Research Analyst Science and Technical Services 444,300 DKK
Quantitative Researcher Science and Technical Services 430,500 DKK
Radiation Protection Specialist Science and Technical Services 376,800 DKK
Refrigeration Technician Science and Technical Services 157,600 DKK
Research Scientist Science and Technical Services 444,300 DKK
Risk Safety Engineer Science and Technical Services 282,500 DKK
Scientific Photographer Science and Technical Services 301,800 DKK
Scientific Programmer Science and Technical Services 413,900 DKK
Scientist Science and Technical Services 459,700 DKK
Service Engineer Science and Technical Services 296,000 DKK
Service Technician Science and Technical Services 197,600 DKK
Social Science Research Assistant Science and Technical Services 283,400 DKK
Social Scientist Science and Technical Services 507,300 DKK
Sociologist Science and Technical Services 472,100 DKK
Soil Scientist Science and Technical Services 426,700 DKK
Statistical Analyst Science and Technical Services 294,700 DKK
Statistical Assistant Science and Technical Services 207,700 DKK
Statistician Science and Technical Services 472,100 DKK
Survey Analyst Science and Technical Services 282,500 DKK
Survey Researcher Science and Technical Services 258,400 DKK
Surveying and Mapping Technician Science and Technical Services 169,000 DKK
Team Leader Science and Technical Services 409,000 DKK
Technical Manager Science and Technical Services 467,100 DKK
Technical Officer Science and Technical Services 201,100 DKK
Technical Service Director Science and Technical Services 623,700 DKK
Technical Services Regulatory Affairs Specialist Science and Technical Services 286,400 DKK
Technical Services Research and Development Manager Science and Technical Services 707,700 DKK
Technical Services Research Associate Science and Technical Services 314,500 DKK
Technical Services Research Coordinator Science and Technical Services 339,100 DKK
Technician Science and Technical Services 181,600 DKK
Water Ecologist Science and Technical Services 572,200 DKK
Wildlife Biologist Science and Technical Services 464,400 DKK

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