Political wages rose this month
Members of Alþingi are paid extra if they chair or vice-chair parliamentary committees, are party leaders, or leaders of parties’ parliamentary groups. Most MPs therefore earn more than the basic rate of pay.
MPs’ wages are displayed on the Alþingi website, while the wages of ministers and the president, their assistants, and judges are not displayed—though they are all set in law and not decided through individual negotiation.
The wages of the president and ministers, as confirmed with RÚV by Fjársýsla ríkisins ( the Financial Management Authority) are as follows:
President, 3,484,357 krónur, up from 3,280,939 krónur
Prime minister, 2,360,053 krónur, up from 2,222,272 krónur
Other ministers, 2,131,788 krónur, up from 2,007,333 krónur
Under the laws on parliamentarians’ wages and on the government, it is stated that the salary of MPs, ministers, and the president will change once a year, on 1st July, in line with changes in basic public sector wages over the past year.
This provision of the law was introduced when the wage council was abolished in 2018. That council had previously increased members’ wages by 45 percent in one go.
The annual rise was delayed last year and the year before—first due to the long negotiation of the ‘quality of life contract’ with many trades unions, and then due to the pandemic. In both years, the raise occurred on 1st January instead of 1st July.
This article has been updated. The previous version contained unconfirmed wages for the president, prime minister and other ministers, provided by a trusted source. These figures have since been confirmed by Fjársýsla ríkisins (the Financial Management Authority). The initial figures for the president were wrong by one króna.