How Much is Investment Banker Salary in Nigeria (2024)
Investment banking is one of the top-paying careers in Nigeria, and specialists in this field can readily transition into other sectors due to the profession’s vitality. According to Investopedia, investment bankers assist clients in raising capital in the capital markets by issuing loans or selling shares in the companies. Other responsibilities include supporting clients with mergers and acquisitions (M&As) and advising them on innovative investment options such as derivatives.
An image showing an investment banker in Nigeria
Everything you’ve heard about the investment banking profession is probably true. Apart from the fact that their monthly compensation is extremely appealing, the work environment, nature of the job, and exposure are just a few of the benefits of the career.
Investment banking is one of those lucrative occupations that you can pursue if you want to make a lot of money in the professional world. Investment banking is one of the best and most appealing job options for recent graduates, particularly those with backgrounds in economics and accounting. Investment bankers are critical in organising various financial transactions, particularly when it comes to the economy.
These highly skilled experts provide stock and share advice to businesses. They also counsel clients on various choices such as mergers, acquisitions, joint ventures, and other related industries. Investment banking is a specialist sector of banking that focuses on the financial market and is mostly concerned with investment. ALSO SEE: TOP HIGHEST PAYING BANKS IN NIGERIA.
In Nigeria today, investment banking has provided graduates in the financial sector the possibility to earn more money than traditional bankers. This opportunity is not as easy as it appears, but those who truly succeed on the job earn extremely large monthly wages.
If you’ve ever wondered how much investment bankers make in Nigeria, this article will provide you with the answers as well as further information on this industry.
HOW TO BECOME AN INVESTMENT BANKER IN NIGERIA
If you wish to work as an investment banker in the country, complete the steps below:
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BE CERTIFIED
Basically, investment banking, like the traditional banking and consulting professions, is an ever-changing area that any graduate with a degree in any discipline may enter as long as they are willing to achieve and have the desire for it.
Originally a field for individuals who studied accounting, economics, or any course in the social sciences, more and more graduates from other fields are observed delving into it these days.
If you wish to work in this sector, you should first complete your secondary school education and obtain your SSCE certificate, ensuring that you pass English, Mathematics, and three other core topics such as economics, accounting, and other related disciplines.
If you are a commercial or arts student, you should study Accounting/Accountancy, Economics, or any other comparable topic at university or polytechnic. However, you must first sit for the UTME and meet or above the required cut-off mark. After you have completed this and passed your post-UTME, you will be offered provisional admission to your course. Be aware that there is no special degree required for employment as an investment banker, and graduates from a variety of disciplines can pursue a career in this profession.
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NATIONAL YOUTH SERVICE CORPS
After graduation, you must complete your NYSC, which is a one-year duty to your fatherland after which you are eligible for work in the country.
INVESTMENT BANKERS’ SALARY STRUCTURE IN NIGERIA
In Nigeria, entry-level monthly earnings for investment bankers in 2024 vary from ₦300,000 to ₦600,000. Allowances and incentives, as well as profit sharing, are not included. When all of this is factored in, your guess is as good as mine that their monthly incomes will be even more remarkable.
One thing to keep in mind is that yearly bonuses for top performers on the work might amount to millions of Naira. With just this information, it is safe to say that investment bankers are among the highest paid professionals in the country. Their pay can be comparable to those of NNPC employees as well as Chevron employees in Nigeria.
Below is the yearly salary range for Investment Bankers in Nigeria (July, 2024)
| Job Title | Salary Range (NGN) | Average Salary (NGN) | Source |
|---|---|---|---|
| Investment Analyst | No available data | NGN 1,420,000 (Estimated) | PayScale |
| Investment Banking Analyst | NGN 3,900,000 – NGN 5,700,000 | NGN 4,800,000 | PayScale, IIM Skills |
| Investment Banker | NGN 5,000,000 – NGN 21,000,000 | NGN 13,000,000 | PayScale, LinkedIn |
| Investment Advisor | NGN 10,000,000 – NGN 30,000,000 | NGN 20,000,000 | PayScale |
CONCLUSION
It is difficult to break into the profession of investment banking because only the strong survive. You must attend some of the best institutions in the country and graduate with good grades, preferably a second class upper degree. This will help you be hired, but keep in mind that you must prepare thoroughly for your aptitude exam in order to be hired. Familiarize yourself with the GMAT so that you will be prepared if your future employer asks questions from that perspective.
Just keep in mind that if you acquire the job and do well, you will set yourself up to be paid quite intriguing monthly sums. Your bonuses will increase your monthly pay even further. It is feasible to keep your job as an investment banker and advance your career through promotions and on-the-job experience with a lot of hard work and dedication.
