Oman Iceland

Updated 2026-02-25

Oman

Minimum Wage

OMR1.88 /hr

$4.88 USD

Avg. Gross Salary

OMR850 /mo

Iceland

No statutory minimum wage

Avg. Gross Salary

kr800,000 /mo

Avg. salary: -66% Oman vs Iceland

Unlike Iceland, which has no statutory minimum wage, Oman mandates a wage floor of $5/hr. Average gross salaries diverge further: $2,208/mo in Oman versus $6,479/mo in Iceland, a 2.9:1 ratio. GDP per capita (PPP) in Iceland is 2.0x that of Oman, underscoring the structural economic divide.

Oman has lower GDP per capita ($41,740 vs $84,257). Oman's unemployment rate is 3.3% compared to Iceland's 3.6%.

Detailed Comparison

Detailed wage comparison between Oman and Iceland
Metric	Oman	Iceland	Diff
Minimum wage /hr	OMR1.88 $4.88	None	—
Minimum wage /mo	OMR325 $844.16	None	—
Minimum wage /yr	OMR3,900 $10,129.87	None	—
Avg. gross salary /mo	OMR850 /mo $2,207.79	kr800,000 /mo $6,478.78	-65.9%
Avg. net salary /mo	OMR820 /mo $2,129.87	kr560,000 /mo $4,535.15	-53.0%
Median individual income /yr	OMR5,400 /yr $14,025.97	kr7,800,000 /yr $63,168.12	-77.8%

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

Work Week

Oman: 45 hrs/wk standard

Max 45 hrs/wk

Overtime : 1.25x pay

Labour Law sets maximum working hours at 9 hours/day or 45 hours/week. During Ramadan, Muslim workers' hours are reduced to 6 hours/day or 30 hours/week. Overtime paid at 125% for regular days and 150% for holidays/weekends.
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: Oman mandates 45 hours while Iceland mandates 40 hours.

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

Compare Oman with...

Frequently Asked Questions

Is the minimum wage higher in Oman or Iceland?

In Oman, the minimum wage is OMR1.88/hr ($4.88 USD). In Iceland, it is no statutory minimum wage.

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

The average gross salary in Oman is OMR850/mo ($2,207.79 USD), compared to kr800,000/mo ($6,478.78 USD) in Iceland. In USD terms, workers in Oman earn approximately 193% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Oman 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 Oman.

How do work hours compare between Oman and Iceland?

Oman has a longer standard work week at 45 hours, compared to 40 hours in Iceland. Workers in Oman work 45 hours per week by law. Longer mandatory hours can offset a nominally higher wage; a worker in Iceland 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 Oman 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 2.0x that of Oman at $41,740. From Oman'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.