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Aslaug Magnusdottir has worked in a variety of roles since 2000. Aslaug began their career as an Engagement Manager at McKinsey & Company, followed by an Investment Director role at Baugur Group. In 2006, they became Vice President at Marvin Traub Associates, and in 2007 they Co-Founded and became Managing Director of TSM Capital. From 2009 to 2013, Aslaug held roles at Gilt Groupe, House of Waris, Tinker Tailor, and Moda Operandi, Inc. In 2017, they became Owner/ Developer of Six Senses Össurá Valley, Iceland, and in 2019 they founded and became CEO of Katla.

Aslaug Magnusdottir began their education in 1987 at Háskóli Íslands, where they completed their Cand. Juris in Law in 1993. Aslaug then attended Duke University School of Law from 1997 to 1998, where they earned their LLM in Law. In 1998, they began their MBA at Harvard Business School, which they completed in 2000. Aslaug also attended Verzlunarskoli Islands, though the degree and field of study are unknown.