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Lív Egilsdóttir Olsen has held various roles throughout their work experience. Lív Egilsdóttir served as the Chairman of the Board at SamFelagið starting in April 2019. Prior to that, they were the Coordinator for Marketing and Business Development at Føroya Tele samtakið (Faroese Telecom) starting in October 2018. Lív Egilsdóttir also worked at Runarvíkar kommuna, where they were involved with Visit Runavík from June 2016 to July 2019. Additionally, they served as a Member of the Board at IF Føroyar from February 2013 to June 2018. Furthermore, they held the position of Vice Chairman of the Board at Meginfelag Føroyskra Studenta (Faroe Islands Student Association) from July 2012 to February 2018. Lív Egilsdóttir worked as a Supervisor at Arp-Hansen Hotel Group from February 2012 to February 2018. Lív also completed an internship at the Mission of the Faroes to the EU from January 2017 to August 2017, as well as at Arbeiðsloysisskipanin from January 2015 to July 2015.

Lív Egilsdóttir Olsen began their education at Handilsskálin Kambsdalur, where they pursued a degree in College, HH, Business student from 2007 to 2010. Lív Egilsdóttir then joined Professionshøjskolen Metropol - Metropolitan University College from 2012 to 2016, completing a Bachelor's degree in Public Administration with a focus on Welfare. Continuing their education, Lív attended Roskilde University from 2016 to 2018, where they graduated with a cand.scient.adm degree in Administration. Lív Egilsdóttir'sfield of study at Roskilde University specifically focused on Forvaltning.