Every so often the President of Iceland’s salary needs reviewing. This elected official doesn’t get a salary interview with his boss, the nation, nor does he have the legal refuge to go on strike. Instead there is an independent institution that decrees the fate of the President’s personal bank account.
Because inflation is high in Iceland, pay-rises are frequently needed to adjust for this. So it seems to many that the fine folk who govern the land keep rising in pay while the little people stay in place. But, if we adjust for inflation, are they really ascending disproportionally?
The chart shows the salaries of the President of Iceland, the members of Parliament, the Prime Minister, and other Cabinet minsters. Adjusting for inflation and after tax.