1 January 2027
Wages increase by 3.50% to ISK 23,750, at a minimum.
1 January 2026
Wages increase by 3.50% to ISK 23,750, at a minimum.
1 January 2025
Wages increase by 3.50% to ISK 23,750, at a minimum.
1 February 2024
Wages increase by 3.25% to ISK 23,750 at a minimum.
1 November 2022
The agreement includes a wage increase of 6.75% from November 1, with a maximum of ISK 66,000.
Significant changes will be made to the VR wage table; new wage rates will apply from 1 November. See PDF of the collective wage agreement here.
1 April 2022
Pay scales increase by 10.500 ISK and other monthly wages increase by 7.875 ISK.
1 January 2022
Pay scales increase by 25.000 ISK and a general wage increase is 17.250 ISK on 1 January 2022.
1 January 2021
Pay scales increase by 24.000 ISK and a general wage increase is 15.750 ISK on 1 January 2021.
1 April 2020
Pay scales increase by 24.000 ISK and a general wage increase is 18.000 ISK on 1 April 2020.
1 April 2019
All wages increase by 17.000 ISK on 1 April 2019.
1 May 2018
VR and SA
Wages and wage-related items increase on 1 May 2018 by 3%.
Minimum income for a full-time position, i.e. 171.15 hours worked per month (39.5 hours per week), are to be as follows for an employee who has reached the age of 18 and has worked for at least six months in the same company (a minimum of, however, 900 hours) should be 300.000 from 1 may 2018. In this connection, wages mean any payments, including any type of bonus payments or allowances and extra pay, that accrue within the period of the above working hours.
VR and FA
Wages and wage-related items increase on 1 May 2018 by 3%.
All minimum rates increase by 3%.
1 May 2017
VR and SA
Wages and wage-related items increase on 1 May 2017 by 4.5%.
All minimum wage rates increase by 4.5% but the starting wages additionally by ISK 1,700 per month.
Minimum income for full time work, 171.15 hours per month /39.5 hours per week) for 18-year-olds and older after 6 months with the same company (although 900 hours minimum) must be kr. 280,000 from 1 May 2017.
VR and FA
Wages and wage-related items increase on 1 May 2017 by 4.5%.
All minimum rates increase by 4.5%.
1 January 2016
A general wage increase of 6.2%, minimum increase of ISK 15,000 on monthly wages for daytime work, including an increase in other wage-related items other than the December and holiday bonus.