Average Service Manager Salary in Faroe Islands for 2024

In this article, we will look at the average Service Manager 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 Service Manager Make in Faroe Islands?

A Service Manager working in Faroe Islands will typically earn around 351,900 DKK per year, and this can range from the lowest average salary of about 176,800 DKK to the highest average salary of 543,200 DKK.

Average Annual Salary
351,900 DKK
Average Monthly Salary
29,325 DKK

Lowest Annual Salary
176,800 DKK
Lowest Monthly Salary
14,733 DKK

Highest Annual Salary
543,200 DKK
Highest Monthly Salary
45,266 DKK

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

Service 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 Service Manager Salaries in Faroe Islands

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

Salary ranges

We already know that a Service Manager can earn between 176,800 DKK and 543,200 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 Service Manager in Faroe Islands is 351,900 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 351,900 DKK, and 50% of the population earn more than 351,900 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 Service Manager salary in Faroe Islands, 25% of the population are earning less than 239,000 DKK while 75% of the population earn more than 239,000 DKK.

75% of the population earn less than 447,700 DKK, and 25% of the population earn more than 447,700 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.

Service Manager 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 service 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 Service Manager in Faroe Islands that has less than two years of experience can expect to earn somewhere in the region of 209,500 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Service Manager salary would increase to 279,400 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Service Manager, the average salary would be 372,600 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 444,300 DKK.
  • 15 - 20 Years Experience. A Service Manager with 15 to 20 years of experience can earn an average of 480,600 DKK.
  • 20+ Years Experience. For a Service Manager with more than 20 years, the expected average salary increases to 514,800 DKK.

Average Salary by Experience Chart

0-2 Years
209,500 DKK
2-5 Years +32%
279,400 DKK
5-10 Years +34%
372,600 DKK
10-15 Years +19%
444,300 DKK
15-20 Years +8%
480,600 DKK
20+ Years +7%
514,800 DKK

Service Manager 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 Service Manager 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.

  • Certificate or Diploma. A Service Manager in Faroe Islands with a certificate or diploma education can earn an average salary of 279,400 DKK.

  • Bachelor's Degree. A Service Manager in Faroe Islands with a bachelor's degree education can earn an average salary of 384,200 DKK.

  • Master's Degree. A Service Manager in Faroe Islands with a master's degree education can earn an average salary of 493,000 DKK.

Average Salary by Education Chart

Certificate or Diploma
279,400 DKK
Bachelor's Degree +37%
384,200 DKK
Master's Degree +29%
493,000 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.

Service 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 Faroe Islands, a male service manager will earn an average of 362,200 DKK, while a female service manager will earn around 340,400 DKK.

This means that a male service manager earns approximately 6% more than a female service manager for performing the same job.

Average Salary by Gender Chart in Faroe Islands

Male
362,200 DKK
Female -6%
340,400 DKK

Service Manager 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 Service Manager in Faroe Islands is around 6% 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 = ( 6 ÷ 30 ) × 12  = 2%

What this means is that a Service Manager in Faroe Islands can expect to receive an average pay raise of around 2% 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%

Service Manager 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 Service Manager is a moderate bonus based job, with 62% of employees reporting at least one bonus in the last 12 months.

38% 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 8%.

Received Bonus
62%
No Bonus
38%

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 Service Manager

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

Job Title Category Salary
After Sales Automotive Manager Automotive 315,900 DKK
Alignment Technician Automotive 109,520 DKK
Auto Damage Adjuster Automotive 128,900 DKK
Auto Detailer Automotive 123,400 DKK
Auto Parts Manager Automotive 413,900 DKK
Automotive Assembler Automotive 112,620 DKK
Automotive Assembly Manager Automotive 383,300 DKK
Automotive Assembly Operator Automotive 119,900 DKK
Automotive Body Repairer Automotive 112,660 DKK
Automotive Branch Manager Automotive 472,000 DKK
Automotive Central Planner Automotive 163,800 DKK
Automotive Electrician Automotive 136,200 DKK
Automotive Engineering Technician Automotive 159,400 DKK
Automotive Estimating Manager Automotive 318,800 DKK
Automotive Estimator Automotive 246,200 DKK
Automotive General Manager Automotive 563,000 DKK
Automotive Inventory Officer Automotive 106,440 DKK
Automotive Manager Automotive 514,300 DKK
Automotive Master Mechanic Automotive 181,600 DKK
Automotive Parts Supplier Automotive 183,700 DKK
Automotive Project Engineer Automotive 205,700 DKK
Automotive Project Manager Automotive 394,500 DKK
Automotive Purchase Manager Automotive 444,300 DKK
Automotive Sales Automotive 233,900 DKK
Automotive Service Technician Automotive 118,200 DKK
Automotive Technician Automotive 112,180 DKK
Automotive Technician Automotive 120,040 DKK
Automotive Test Engineer Automotive 197,600 DKK
Automotive Warranty Administrator Automotive 196,800 DKK
Automotive Warranty Clerk Automotive 124,400 DKK
Car Parts and Accessories Fitter Automotive 105,800 DKK
Car Salesman Automotive 228,500 DKK
Damage Appraiser Automotive 180,300 DKK
Diesel Engine Specialist Automotive 172,200 DKK
Job Card Opener Automotive 106,780 DKK
Lube Technician Automotive 96,980 DKK
Master File Maintenance Automotive 163,800 DKK
Materials Planner Automotive 176,800 DKK
Mechanic Automotive 116,180 DKK
Motor Vehicle Inspector Automotive 167,100 DKK
Motorcycle Mechanic Automotive 128,900 DKK
Service Advisor Automotive 222,300 DKK
Stock Controller Automotive 158,700 DKK
Technical Advisor Automotive 222,300 DKK
Tire Retreader Automotive 112,620 DKK
Used Car Manager Automotive 318,800 DKK
Vehicle Body Maker Automotive 143,200 DKK
Vehicle Examiner Automotive 151,800 DKK
Vehicle Painter Automotive 92,680 DKK
Vehicle Trimmer Automotive 114,940 DKK
Welder Automotive 99,560 DKK

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