Average Residential Advisor Salary in Iceland for 2024

In this article, we will look at the average Residential Advisor 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 Residential Advisor Make in Iceland?

A Residential Advisor working in Iceland will typically earn around 7,872,400 ISK per year, and this can range from the lowest average salary of about 3,622,400 ISK to the highest average salary of 12,481,200 ISK.

Average Annual Salary
7,872,400 ISK
Average Monthly Salary
656,033 ISK

Lowest Annual Salary
3,622,400 ISK
Lowest Monthly Salary
301,866 ISK

Highest Annual Salary
12,481,200 ISK
Highest Monthly Salary
1,040,100 ISK

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

Residential Advisor 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 Residential Advisor Salaries in Iceland

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

Salary ranges

We already know that a Residential Advisor can earn between 3,622,400 ISK and 12,481,200 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 Residential Advisor in Iceland is 8,508,800 ISK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 8,508,800 ISK, and 50% of the population earn more than 8,508,800 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 Residential Advisor salary in Iceland, 25% of the population are earning less than 5,461,900 ISK while 75% of the population earn more than 5,461,900 ISK.

75% of the population earn less than 11,365,600 ISK, and 25% of the population earn more than 11,365,600 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.

Residential Advisor 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 residential advisor 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 Residential Advisor in Iceland that has less than two years of experience can expect to earn somewhere in the region of 4,116,600 ISK.
  • 2 - 5 Years Experience. With two to five years of experience the average Residential Advisor salary would increase to 5,495,200 ISK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Residential Advisor, the average salary would be 8,123,400 ISK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 9,899,400 ISK.
  • 15 - 20 Years Experience. A Residential Advisor with 15 to 20 years of experience can earn an average of 10,788,900 ISK.
  • 20+ Years Experience. For a Residential Advisor with more than 20 years, the expected average salary increases to 11,674,300 ISK.

Average Salary by Experience Chart

0-2 Years
4,116,600 ISK
2-5 Years +34%
5,495,200 ISK
5-10 Years +48%
8,123,400 ISK
10-15 Years +22%
9,899,400 ISK
15-20 Years +9%
10,788,900 ISK
20+ Years +8%
11,674,300 ISK

Residential Advisor 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 Residential Advisor 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 Residential Advisor in Iceland with a high school education can earn an average salary of 4,690,500 ISK.

  • Certificate or Diploma. A Residential Advisor in Iceland with a certificate or diploma education can earn an average salary of 7,369,700 ISK.

  • Bachelor's Degree. A Residential Advisor in Iceland with a bachelor's degree education can earn an average salary of 12,361,500 ISK.

Average Salary by Education Chart

High School
4,690,500 ISK
Certificate or Diploma +57%
7,369,700 ISK
Bachelor's Degree +68%
12,361,500 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.

Residential Advisor 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 residential advisor will earn an average of 8,051,500 ISK, while a female residential advisor will earn around 7,703,700 ISK.

This means that a male residential advisor earns approximately 5% more than a female residential advisor for performing the same job.

Average Salary by Gender Chart in Iceland

Male
8,051,500 ISK
Female -5%
7,703,700 ISK

Residential Advisor 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 Residential Advisor 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 Residential Advisor 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%

Residential Advisor 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 Residential Advisor is a low bonus based job, with 41% of employees reporting at least one bonus in the last 12 months.

59% 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 2% to 7%.

Received Bonus
41%
No Bonus
59%

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 Residential Advisor

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

Job Title Category Salary
Acquisition Associate Real Estate 6,469,100 ISK
Assistant Leasing Manager Real Estate 8,568,100 ISK
Assistant Property Manager Real Estate 8,820,700 ISK
Brokerage Real Estate 6,480,800 ISK
Brokerage Clerk Real Estate 3,385,800 ISK
Commercial Leasing Manager Real Estate 13,319,300 ISK
Commercial Real Estate Manager Real Estate 14,158,800 ISK
Community Development Manager Real Estate 12,361,500 ISK
Compliance Specialist Real Estate 6,335,800 ISK
Development Coordinator Real Estate 6,347,100 ISK
Director of Real Estate Real Estate 14,519,400 ISK
Lease Administrator Real Estate 7,896,400 ISK
Leasing Agent Real Estate 7,057,300 ISK
Leasing Consultant Real Estate 7,896,400 ISK
Leasing Manager Real Estate 9,154,500 ISK
Lettings Assistant Real Estate 3,395,900 ISK
Portfolio Analyst Real Estate 11,267,200 ISK
Portfolio Manager Real Estate 15,360,400 ISK
Property Acquisition Agent Real Estate 6,048,900 ISK
Property and Claims Specialist Real Estate 8,257,300 ISK
Property Manager Real Estate 9,874,200 ISK
Property Operations Manager Real Estate 13,561,900 ISK
Property Tax Assistant Real Estate 6,733,900 ISK
Real Estate Administrator Real Estate 6,984,300 ISK
Real Estate Agent Real Estate 6,815,700 ISK
Real Estate Analyst Real Estate 8,411,800 ISK
Real Estate Appraiser Real Estate 6,733,900 ISK
Real Estate Appraiser Real Estate 6,826,100 ISK
Real Estate Appraiser Real Estate 7,067,300 ISK
Real Estate Assistant Real Estate 6,142,600 ISK
Real Estate Association Manager Real Estate 9,025,900 ISK
Real Estate Broker Real Estate 6,420,700 ISK
Real Estate General Manager Real Estate 14,038,300 ISK
Real Estate Project Director Real Estate 13,319,300 ISK
Real Estate Project Manager Real Estate 11,389,900 ISK
Real Estate Sales Agent Real Estate 6,862,900 ISK
Real Estate Valuer Real Estate 7,321,700 ISK
Research Analyst Real Estate 6,241,000 ISK
Residential Property Manager Real Estate 9,311,400 ISK
Shopping Center Manager Real Estate 14,280,500 ISK
Town Planner Real Estate 13,319,300 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 8,545,000 ISK

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  • "Average Residential Advisor Salary in Iceland for 2024". World Salaries. Accessed on March 29, 2024. https://worldsalaries.com/average-residential-advisor-salary-in-iceland/.

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