State-Employed Directors Still Earn More than PM Skip to content

State-Employed Directors Still Earn More than PM

The reduction of wages of directors of state-run institutions, called for with legislation in July, has yet to be executed. The goal was for no state employee to earn more than the prime minister, who has a monthly salary of ISK 935,000 (USD 7,500, EUR 4,700).

Photo by Páll Stefánsson.

The matter is still being prepared at the wage council, which determines the salaries of state employees, according to the council’s chairwoman, Gudrún Zoëga. She finds it unlikely that the wage reduction can be executed this month, Fréttabladid reports.

Among directors of state-run institutions who earn more than the PM is Már Gudmundsson, governor of the Central Bank, who took office in August.

Gudmundsson earns approximately ISK 1.6 million (USD 12,800, EUR 8,000) per month—almost 70 percent more than the PM.

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