France Iceland

Updated 2026-03-02

France

Minimum Wage

€12.02 /hr

$13.68 USD

Avg. Gross Salary

€3,500 /mo

Iceland

No statutory minimum wage

Avg. Gross Salary

kr800,000 /mo

Avg. salary: -37% France vs Iceland

Unlike Iceland, which has no statutory minimum wage, France mandates a wage floor of $14/hr. Average salaries are lower in France at $3,984/mo compared to $6,333/mo in Iceland. Iceland has the tighter labor market, with unemployment at 3.6% compared to 7.5%.

France has lower GDP per capita ($62,557 vs $84,257). France's unemployment rate is 7.5% compared to Iceland's 3.6%.

Detailed Comparison

Detailed wage comparison between France and Iceland
Metric	France	Iceland	Diff
Minimum wage /hr	€12.02 $13.68	None	—
Minimum wage /mo	€1,823.03 $2,075.16	None	—
Minimum wage /yr	€21,876.36 $24,901.95	None	—
Avg. gross salary /mo	€3,500 /mo $3,984.06	kr800,000 /mo $6,332.62	-37.1%
Avg. net salary /mo	€2,700 /mo $3,073.42	kr560,000 /mo $4,432.83	-30.7%
Median individual income /yr	€24,000 /yr $27,319.29	kr7,800,000 /yr $61,743.05	-55.8%

Percentage differences are based on USD equivalent values. Positive means France is higher.

Work Week

France: 35 hrs/wk standard

Max 48 hrs/wk

Overtime : 1.25x pay

Legal workweek is 35 hours. Overtime: 25% premium for hours 36-43, 50% premium beyond 43 hours. Annual maximum 220 overtime hours unless collective agreement states otherwise.
Iceland: 40 hrs/wk standard

Max 48 hrs/wk

Overtime : 1.8x pay

Standard working week is 40 hours (set by collective agreements). The Act on Working Environment and Health sets maximum average of 48 hours/week per EU Working Time Directive. Overtime premiums are set by collective agreements, typically 80% premium (1.8x) for daytime overtime, higher for evenings/weekends. A landmark 2021 agreement reduced standard hours from 40 to 36 for many public sector workers, with the private sector gradually following.

What This Means for Workers

Standard work weeks differ: France mandates 35 hours while Iceland mandates 40 hours.

See this comparison from Iceland's perspective: Iceland vs France

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Frequently Asked Questions

Is the minimum wage higher in France or Iceland?

In France, the minimum wage is €12.02/hr ($13.68 USD). In Iceland, it is no statutory minimum wage.

How much less does the average worker earn in France compared to Iceland?

The average gross salary in France is €3,500/mo ($3,984.06 USD), compared to kr800,000/mo ($6,332.62 USD) in Iceland. In USD terms, workers in France earn approximately 59% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between France and Iceland is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Iceland earn more in nominal terms, though how far that income stretches depends on local prices in France.

How do work hours compare between France and Iceland?

Iceland has a longer standard work week at 40 hours, compared to 35 hours in France. Workers in France work 35 hours per week by law. Longer mandatory hours can offset a nominally higher wage; a worker in France working fewer hours may have comparable or better effective hourly earnings depending on the wage levels of each country. Total annual compensation depends on both the wage rate and the number of hours required.

What is the cost of living difference between France and Iceland?

While direct cost of living data varies by source, GDP per capita (PPP) gives a useful proxy for overall economic level. Iceland has the higher GDP per capita at $84,257, which is 1.3x that of France at $62,557. From France's perspective, this means goods and services are priced at a lower economic level. A higher GDP per capita generally correlates with higher wages, higher consumer prices, and greater availability of goods and services. Workers moving between these two countries should expect significant differences in rent, food, and transportation costs.