Minimum wage in Iceland
Iceland has no general statutory minimum wage. Pay floors come from collective agreements or sector rules; see the notes and any sector rows below.
No statutory minimum wage; Act No. 55/1980 makes the wages agreed by the labour market organisations the binding minimum terms for everyone in the occupation and area covered. Eurostat (world-eurostat-minimum-wages, July 2026) lists it among the countries without a national minimum wage.
1 level of law
How this rate is resolved
The highest minimum that covers the work location applies.
Employers must pay the highest minimum that covers the work location. WageTable checks each level in turn:
- Iceland
Iceland sets no rule of its own on record.
Iceland
Enforcement
Enforced by Vinnumalastofnun (Directorate of Labour).