The largest market salary survey in Iceland
Detailed salary statistics for more than 150 job titles.
Reliable data straight from payroll system of participating companies.
Based on the salaries of approximately 10% of the Icelandic workforce.
Analysis of base pay and total pay.
The survey is done annually and based on September salaries each year.
Keep track with the current market salaries and ensure that key employees are paid accordingly.
Commission
All amounts are exclusive of VAT.
| Participation fee 2023 | 300.000 |
| Results tables in Excel | 60.000 |
| Three year commitment discount | 15% |
| Custom analysis | Contact us |
| Information and analysis without participation | Contact us |
| Market salary for one job title | 95.000 |
Equal Pay Laws in Iceland and PwC´s expertise
In 2008 the Icelandic Parliament adopted so called Equality laws (10/2008), which were by big part set to eliminate the long consisting Gender Pay Gap. According to Icelandic laws it is illegal to differentiate in salaries between men and women who are doing the same job or job of equal value. An Icelandic Equal Pay Quality Standard (ÍST-85) was made with the participation of all major beneficiaries and introduced in 2012.
The ÍST-85 Standard was set forward as a non-binding standard, but in 2017 the Government agreed to an addition to these laws which made them obligatory for all companies which employs 25 people or more.
Those companies are obligated to implement a structured equality plan for their company, which follows the requirement set forward in the ÍST-85 standard and to have it validated by authorized audit personals, who are required to attend seminars and pass an extensive test with 1st grade.
Equal Pay Measurements - PwC Iceland
PwC Iceland has a great experience in equal pay measurements since 2011 and we have been working for over 100 companies and municipalities in Iceland during this time.
Equal Pay Measurements
We have developed a mostly standard technique and reporting using a number of HR and pay variables to do Equal Pay Measurement by using multiple regression analysis method. We have rewarded companies that have less than 3.5% pay gap (both in fixed salaries and total salaries) with a gold award, and the right to bear a logo designed by PwC in Iceland. It is common to use companies use the PwC Gold Award in their ads for available job positions. In these measurements we have based the job position categorization using the International Standard Classification of Occupations (ISCO).
Fair Pay Analysis
In addition to assisting companies and municipalities to measure their pay gap we further developed a measurement tool called Fair Pay Analysis, which helps identify the individual employees within the company whose salaries need to change in order to lower the pay gap.
The Fair Pay Analysis is a model that projects a salary for an individual in a certain job position with regards to the employee´s education, years for experience and rank of position. The model furthermore suggests the amount of a pay increase per employee given a projected outcome of an acceptable pay gap in the company. It provides the best results for lowering the pay gap with the least possible extra cost for the company.
Equal Pay Verification
On the grounds of the new Icelandic Equal Pay legislation, we are now also advising companies and municipalities and assisting them to prepare their strategic equality plan and pay decision system to be in line with the requirements of the ÍST-85. That involves extensive job classification on the grounds of job ingredient, salary analysis, Pay Gap measurements and overview of filing and documentation in the companies.
