New Survey: Iceland’s Fishermen Earn More than CEOs Skip to content

New Survey: Iceland’s Fishermen Earn More than CEOs

fv06_2012_forsidaThe annual salary issue, Tekjublaðið, of Icelandic business magazine Frjáls verslun was published today. It lists the salaries of approximately 3,000 well known Icelanders, including the salaries of the directors of the country’s largest companies.

The highest-earning profession in Iceland today is fishing, the salary of which tops that of CEOs, employees of financial companies, deputy directors (second-in-commands) and physicians.

The salaries of the 200 highest-earning fishermen amounted to ISK 2.4 million (USD 19,000, EUR 16,000) per month on average in 2011, while the 200 highest-earning CEOs had an average monthly income of ISK 2.2 million, even though their salaries had increased by ISK 200,000 (USD 1,600, EUR 1,300) since 2010.

The salaries of next-in-commands and middle managers have increased significantly, by deputy directors now earn ISK 2 million per month on average and are closing in on their superiors.

Prime Minister Jóhanna Sigurðardóttir earned ISK 1,241,000 per month last year, up by ISK 165,000 since 2009. President of Iceland Ólafur Ragnar Grímsson had a monthly salary of ISK 1,613,000, up by ISK 51,000 per month.

Editor of daily newspaper Morgunblaðið Davíð Oddsson, former prime minister and Central Bank governor, is the highest-earning media representative, earning more than ISK 2 million per month.

Hörður Arnarson, CEO of Landsvirkjun, the national power company, is the country’s highest-earning CEO with ISK 10.2 million (USD 82,000, EUR 67,000) per month.

He is followed by Finnur Árnason, CEO of Hagar, who earns ISK 6.2 million per month and managing director of Bónus Guðmundur Marteinsson, who has a monthly salary of ISK 5.9 million.

Managing director of the bank Straumur, Jakob Már Ásmundsson, was the highest-earning employee of financial companies in 2011, same as the year prior, with a monthly salary of ISK 7.7 million.

This is the 24th year that Frjáls Verslun lists the salaries of individuals based on tax assessment files that have been made public by the Directorate of Inland Revenue. Tekjublaðið will be available for sale in stores in Iceland for 13 days only.


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