Updated Entry Level Salaries for Nigerian Companies (2024)
If you are a recent graduate or looking to start your career in Nigeria, one of the most important factors to consider is the entry-level salary offered by potential employers. Entry-level salaries vary widely across different industries and companies in Nigeria. It is important to have a good understanding of the average entry-level salaries for different sectors and companies to make an informed decision when considering job offers.
According to recent research, the oil and gas industry is the highest paying sector in Nigeria, with entry-level salaries ranging from N200,000 to N500,000. Multinational oil companies such as ExxonMobil and Total Oil pay their entry-level staff as much as one million naira per month. Other sectors such as banking, telecommunications, and IT also offer competitive entry-level salaries. However, the salary range varies depending on the company and job position.
It is worth noting that entry-level salaries are not the only factor to consider when choosing a job. Other factors such as job security, growth opportunities, and work-life balance should also be taken into account. Nonetheless, having a good understanding of the entry-level salaries for different sectors and companies can help you negotiate a fair salary and make an informed decision when considering job offers.
OVERVIEW OF ENTRY LEVEL SALARIES IN NIGERIA
If you are a recent graduate looking for a job in Nigeria, you may be wondering what kind of salary you can expect as an entry-level employee. Entry-level salaries in Nigeria can vary greatly depending on the industry, company, and location. However, there are some general figures that can give you an idea of what to expect.
According to various sources, the average entry-level salary in Nigeria is around N100,000 to N150,000 per month. However, this figure can be higher or lower depending on the industry and company. For example, the oil and gas industry is known for paying some of the highest salaries in Nigeria, with entry-level salaries ranging from N500,000 to N1,000,000 per month.
Other industries that pay well for entry-level positions include banking, telecommunications, and IT. Banks such as Access Bank and Guaranty Trust Bank are known for paying their entry-level employees well above the average, with salaries ranging from N200,000 to N300,000 per month. Telecommunications and IT companies such as MTN, Airtel, and Huawei also offer competitive salaries to their entry-level employees.
It is important to note that salaries can vary greatly depending on the location of the company. For example, companies based in Lagos, Nigeria’s commercial capital, may offer higher salaries than those based in other parts of the country. Additionally, multinational companies may offer higher salaries to their entry-level employees to match global standards.
ENTRY LEVEL SALARIES IN BANKING SECTOR
If you are looking to start your career in the banking sector in Nigeria, it’s essential to know what you can expect to earn. Entry-level salaries in the banking sector vary depending on various factors such as your level of experience, the type of bank, and your job role.
According to Payscale in 2024, the average salary for a Bank Officer in Nigeria is NGN 7,455,771 per year, with a base salary ranging from NGN 4m – NGN 8m. However, this can vary depending on the bank and your job role.
For example, at Union Bank, an entry-level graduate trainee earns a monthly salary of around NGN 250,000, while a teller earns around NGN 170,000 per month. At United Bank for Africa (UBA), an entry-level graduate trainee earns around NGN 200,000 per month, while a customer service officer earns around NGN 180,000 per month.
At First Bank, an entry-level graduate trainee earns around NGN 230,000 per month, while a customer service officer earns around NGN 175,000 per month. At Access Bank, an entry-level graduate trainee earns around NGN 280,000 per month, while a customer service officer earns around NGN 140,000 per month.
Guaranty Trust Bank (GTBank) pays its entry-level staff an average of NGN 289,000 per month, while Polaris Bank pays its entry-level staff an average of NGN 285,000 per month.
ENTRY LEVEL SALARIES IN OIL AND GAS SECTOR
The oil and gas sector is one of the highest paying industries in Nigeria. The sector is dominated by multinational oil companies such as Shell, Total, Chevron, Exxon Mobil, and Schlumberger, among others. These companies pay their employees according to global standards because their employees can be deployed to anywhere in the world. This explains why they pay the highest salaries.
Entry level salaries in the oil and gas sector are relatively high compared to other sectors. The starting salary for entry level employees in oil exploration companies is at least N500,000, while servicing companies pay at least N200,000. The volume of salary paid to employees in the oil and gas sector is among the highest in Nigeria.
The table below shows the entry level salaries of some of the major players in the oil and gas sector in Nigeria.
| Company | Entry Level Salary |
|---|---|
| Shell | N750,000 – N950,000 |
| Total | N500,000 – N800,000 |
| Chevron | N750,000 – N1,200,000 |
| Exxon Mobil | N750,000 – N1,000,000 |
| Schlumberger | N500,000 – N800,000 |
It is important to note that the salaries listed above are subject to change and are dependent on factors such as years of experience, job position, and educational qualification.
ENTRY LEVEL SALARIES IN MANUFACTURING SECTOR
If you’re interested in working in the manufacturing sector in Nigeria, you’re probably wondering what kind of entry-level salaries you can expect. While salaries can vary depending on the specific company and position, we’ve compiled some information on the average entry-level salaries for several major manufacturing companies in Nigeria.
PZ Cussons, a leading manufacturer of personal care and home care products in Nigeria, offers an average starting salary of around ₦80,000 per month for entry-level positions. Guinness Nigeria, a subsidiary of Diageo and one of the largest beverage manufacturers in Nigeria, offers an average starting salary of around ₦150,000 per month for entry-level positions.
Dangote Sugar, a major producer of sugar in Nigeria, offers an average starting salary of around ₦100,000 per month for entry-level positions. Dangote Cement, one of the largest cement manufacturers in Africa, offers an average starting salary of around ₦120,000 per month for entry-level positions.
The Nigerian Bottling Company, a subsidiary of Coca-Cola Hellenic Bottling Company, offers an average starting salary of around ₦100,000 per month for entry-level positions. Cadbury Nigeria Plc, a subsidiary of Mondelez International and a leading confectionery manufacturer in Nigeria, offers an average starting salary of around ₦80,000 per month for entry-level positions.
Nigerian Breweries, a subsidiary of Heineken and one of the largest beer manufacturers in Nigeria, offers an average starting salary of around ₦150,000 per month for entry-level positions. Lafarge, a major producer of cement and other building materials in Nigeria, offers an average starting salary of around ₦100,000 per month for entry-level positions.
It’s important to note that these salaries are just averages and can vary depending on factors such as education, experience, and location. However, this information can give you a general idea of what you can expect to earn if you’re starting out in the manufacturing sector in Nigeria.
ENTRY LEVEL SALARIES IN TELECOMMUNICATIONS SECTOR
If you’re looking to work in the telecommunications sector in Nigeria, it’s important to know what kind of entry-level salaries you can expect. Here are some of the major companies in the telecommunications sector and their entry-level salaries:
- MTN Nigeria: N180,000 to N250,000
- Airtel Nigeria: N100,000
- GLO: N120,000
- 9 Mobile: N195,000
It’s worth noting that these salaries may vary depending on your level of experience and qualifications. Additionally, some companies may offer additional benefits such as health insurance, bonuses, and more.
MTN Nigeria is one of the largest telecommunications companies in Nigeria, and they offer some of the highest entry-level salaries in the sector. As an entry-level staff member at MTN Nigeria, you can expect to earn between N180,000 to N250,000 per month.
Airtel Nigeria is another major player in the telecommunications sector, and they offer a starting salary of N100,000 per month. While this may be lower than some other companies, Airtel Nigeria is known for offering a range of employee benefits such as health insurance, bonuses, and more.
Globacom, also known as GLO, is another telecommunications company in Nigeria that offers entry-level salaries of N120,000 per month. Like Airtel Nigeria, GLO also offers a range of employee benefits.
ENTRY LEVEL SALARIES IN AUDITING AND CONSULTING SECTOR
If you are looking for a career in the auditing and consulting sector in Nigeria, you may be wondering what kind of entry-level salary you can expect. While salaries can vary depending on the company, location, and other factors, we have compiled some information on entry-level salaries for some of the top companies in this sector.
KPMG is one of the largest auditing and consulting firms in Nigeria. According to Glassdoor, the average salary for an entry-level auditor at KPMG in Nigeria is around ₦1,500,000 per year. This is a competitive salary, and KPMG is known for offering good benefits and opportunities for career growth.
PwC is another top auditing and consulting firm in Nigeria. According to Salary Explorer, the average salary for an entry-level consultant at PwC in Nigeria is around ₦1,800,000 per year. This is a higher salary than what is offered at some other companies in the sector, and PwC is known for its strong reputation and focus on professional development.
Deloitte is also a major player in the auditing and consulting sector in Nigeria. According to PayScale, the average salary for an entry-level auditor at Deloitte in Nigeria is around ₦1,200,000 per year. While this may be lower than what is offered at some other companies, Deloitte is known for its strong company culture and opportunities for career growth.
It’s important to note that these salaries are just averages, and individual salaries may vary depending on factors such as education, experience, and location. Additionally, other factors such as benefits, bonuses, and opportunities for career growth should also be considered when evaluating potential employers.
FACTORS AFFECTING THESE SALARIES
Apart from the industry, company size, and location, there are other factors that can affect your entry-level salary in Nigeria. Here are some of them:
QUALIFICATION
Your educational qualifications play a vital role in determining your salary. Generally, the higher your degree or certification, the higher your salary. According to Salary Explorer, a Bachelor’s degree holder in Nigeria earns an average salary of ₦2,570,000 per year, while a Master’s degree holder earns an average of ₦7,590,000 per year.
ALLOWANCES
Allowances are additional payments made to employees on top of their basic salary. Some companies offer various allowances, including housing, transportation, and meal allowances, which can significantly increase your take-home pay.
CONTRACT STAFF
Contract staff typically earn less than permanent staff. This is because they do not enjoy the same benefits and job security as permanent staff. However, some companies offer contract staff competitive salaries and benefits packages.
PROFESSIONAL STAFF
Professionals with specialized skills and experience can negotiate higher salaries. For instance, a Chartered Accountant in Nigeria can earn an average salary of ₦4,930,000 per year, while a Software Developer can earn an average of ₦5,710,000 per year.
TAX DEDUCTIONS
Tax deductions can significantly reduce your take-home pay. In Nigeria, employees are subject to Pay As You Earn (PAYE) tax, which is calculated based on their income. However, some companies offer tax relief and other incentives to their employees.
GLOBAL STANDARDS
Salaries in Nigeria are generally lower than those in developed countries. However, some companies in Nigeria offer salaries that are competitive with global standards to attract and retain top talent.
CONCLUSION
In conclusion, entry-level salaries in Nigerian companies vary based on the sector, job role, and company. The oil and gas sector is the highest paying sector, with salaries ranging from N200,000 to N500,000. However, other sectors such as banking, finance, and technology also offer competitive salaries for entry-level employees.
It is important to note that salaries are not the only factor to consider when choosing a job. Other factors such as job security, career growth opportunities, and work-life balance should also be taken into consideration.
If you are looking to enter the job market as an entry-level employee, it is important to research and compare different companies and sectors to find the best fit for you. Use the information provided in this article and other sources to make an informed decision about your career path.
Remember that entry-level salaries are just the starting point, and with hard work, dedication, and experience, you can increase your earning potential and advance in your career. Good luck in your job search!
