Pay Raise for Elected Officials Skip to content

Pay Raise for Elected Officials

The Icelandic Wage Council has increased the salary of the president of Iceland, members of parliament and government ministers. The increase takes effect today for the president, but took effect October 30 for the others, RÚV reports. This is their second pay increase this year.

According to the council’s ruling, the president’s salary will be ISK 2,985,000 (USD 26,500, EUR 24,000) a month (up from almost ISK 2,500,000); the salary of members of parliament will be ISK 1,101,194 (USD 9,800, EUR 8,900); that of the prime minister (including a parliamentarian’s salary) will be ISK 2,021,825 (USD 17,900, EUR 16,300) (up from about ISK 1,500,000); and that of other government ministers (including a parliamentarian’s salary) will be ISK 1,826,273 (USD 16,200, EUR 14,700).

According to RÚV, MPs could earn just over ISK 2 million (USD 17,700, EUR 16,100) total a month after the change, if all extra payments are included, such as committee work and travel costs.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article