What is my hourly wage?
ISK 3,463 net per paid hour
Example: ISK 850,000 gross a month, 40 hours a week. For each hour actually worked: ISK 4,020.
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Questions about pay and money in Iceland
Quick answers with the 2026 rules. Each one opens a page with the calculator already set up for it and a short article; change the inputs there for your own answer.
How much is left of my salary?
Gross a month → net a month. Single, aged 35, no children, 12 salaries a year, 2026 rules.
- ISK 600,000ISK 454,606 a month
- ISK 700,000ISK 512,896 a month
- ISK 800,000ISK 571,185 a month
- ISK 900,000ISK 629,475 a month
- ISK 1,000,000ISK 687,764 a month
- ISK 1,100,000ISK 746,053 a month
- ISK 1,200,000ISK 804,343 a month
- ISK 1,300,000ISK 862,632 a month
- ISK 1,400,000ISK 920,922 a month
- ISK 1,500,000ISK 978,252 a month
- ISK 1,600,000ISK 1,028,740 a month
- ISK 1,700,000ISK 1,079,227 a month
- ISK 1,800,000ISK 1,129,714 a month
- ISK 1,900,000ISK 1,180,202 a month
- ISK 2,000,000ISK 1,230,689 a month
- ISK 2,200,000ISK 1,331,664 a month
- ISK 2,400,000ISK 1,432,639 a month
- ISK 2,600,000ISK 1,533,614 a month
- ISK 3,000,000ISK 1,735,563 a month
- ISK 4,000,000ISK 2,240,437 a month
What do I take home part-time?
ISK 476,465 net a month
Example: ISK 850,000 gross full-time. You keep 79.4% of the full-time net pay for 75% of the hours.
How much unemployment benefit would I get?
ISK 595,000 a month for the first 3 months (70% of your average pay, at most ISK 605,159), then ISK 383,870, for up to 24 months in total
Example: ISK 850,000 gross a month, age 35, single. Total ISK 9,846,270.
How much notice must my employer give?
From 1 month to 3 months
By years with the employer: 3 months after 5 years, 3 months after 10.
When can I retire?
At 67, or from 65 with a cut
Born in 1991: earliest pension at 65 with a 12.0% cut; full pension at 67.
What is my money worth after inflation?
ISK 100,000 from 2016 = ISK 136,100 today
Prices rose 36.1% since 2016, by the official consumer price index. Any year since 2006.