Average income in Iceland 2020, by educational level (in 1,000 ISK)

The income level in Iceland generally correlates with educational levels across the country; the higher the educational level, the higher the average income. In 2020, people with a doctoral degree or an equivalent education had the highest average income in Iceland, earning 13.8 million Icelandic Krona on average. In contrast, people with a basic educational only earned 5.2 million Icelandic Krona on average in 2020.