![]() The decision really depends on your situation and experience among many other factors. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment. Many people pursue higher education as a tactic to switch into a higher paying job. In most cases, a salary review is conducted once education is completed and the degree has been attained. You can't really expect any salary increases during the study period, assuming you already have a job. Is a Master's degree or an MBA worth it? Should you pursue higher education?Ī Master's degree program or any post-graduate program in Nigeria costs anywhere from 1,690,000 Naira(s) to 5,080,000 Naira(s) and lasts approximately two years. Only 5% of people grossed 656,000 NGN or more. Ten percent of wages are from 514,000 NGN to 656,000 NGN. Approximatly 20% fall under the 200,000 NGN cap. Around 65% of all reported figures are in the range 200,000 NGN to 514,000 NGN. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. Also from the diagram, 75% of the population are earning less than 456,000 NGN while 25% are earning more than 456,000 NGN. Reading from the salary distribution diagram, 25% of the population are earning less than 217,000 NGN while 75% of them are earning more than 217,000 NGN. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.Ĭlosely related to the median are two values: the 25th and the 75th percentiles. The median represents the middle salary value. The median salary is 301,000 NGN per month, which means that half (50%) of the population are earning less than 301,000 NGN while the other half are earning more than 301,000 NGN. This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country. Salaries in Nigeria range from 85,700 NGN per month (starting salary) to 1,510,000 NGN per month (maximum average salary, actual maximum is higher). Salary Range, Minimum Wage, and Starting Salary.Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
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