[throwaway22032]

For everyone discussing the 1M thing:

The median Icelandic salary is approx 600,000 ISK for context. So it's higher than the median, but not insane by any means.

It seems logical to me that you'd only want to grant visas to people who are "above average".

[nebula8804]

Dumb question...but is this considering income before or after taxes?

[mmstan]

Since tax situation is usually very different for different people and in different tax jurisdictions, it would be safe to say that this is considered income before taxes.