HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS
Browse Salaries
Best Paying Jobs
Articles
Salary Increase Letters

Capital Markets Associate Average Salary in Nigeria 2023

How much money does a person working as Capital Markets Associate make in Nigeria?


Average Monthly Salary
371,000 NGN
( 4,460,000 NGN yearly)

LOW
182,000
NGN
AVERAGE
371,000
NGN
HIGH
579,000
NGN
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Capital Markets Associate in Nigeria typically earns around 371,000 NGN. Salaries range from 182,000 NGN (lowest) to 579,000 NGN (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Capital Markets Associate salaries in Nigeria vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Capital Markets Associate Pay Scale and Salaries in Nigeria

Median and salary distribution Nigeria Capital Markets Associate monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/median-and-salary-distribution-monthly-nigeria-capital-markets-associate.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
344,000 NGN or more
10% of people earn
304,000 to 344,000 NGN
20% of people earn
216,000 NGN or less
65% of people earn
216,000 to 304,000 NGN
Minimum Salary
182,000 NGN
Median
346,000 NGN
Maximum
579,000 NGN


Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Capital Markets Associate in Nigeria range from 182,000 NGN (starting salary) to 579,000 NGN (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 346,000 NGN, half of the professionals who work as Capital Markets Associate in Nigeria earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Capital Markets Associate in Nigeria earn less than 283,000 NGN, while 75% earn more. Similarly, the chart shows that 75% earn less than 396,000 NGN while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Capital Markets Associate in Nigeria compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 216,000 NGN to 304,000 NGN. About 20% of salaries are below the 216,000 NGN mark, while 10% fall within the range of 304,000 NGN to 344,000 NGN. Only 5% of individuals have salaries exceeding 344,000 NGN.

Salary Comparison by Years of Experience / Capital Markets Associate / Nigeria

How do experience and age affect pay?

0 - 2 Years
216,000 NGN
2 - 5 Years+29%
277,000 NGN
5 - 10 Years+38%
383,000 NGN
10 - 15 Years+24%
474,000 NGN
15 - 20 Years+7%
508,000 NGN
20+ Years+7%
542,000 NGN
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Nigeria Capital Markets Associate
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/salary-comparison-by-years-of-experience-monthly-nigeria-capital-markets-associate.jpg

The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Capital Markets Associate and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 216,000 NGN.

While someone with an experience level between two and five years is expected to earn 277,000 NGN, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 383,000 NGN, 38% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 474,000 NGN, 24% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 508,000 NGN, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 542,000 NGN, 7% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Salary Comparison By Education / Capital Markets Associate / Nigeria

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Capital Markets Associate.

High School
269,000 NGN
Certificate or Diploma+15%
309,000 NGN
Bachelor's Degree+35%
416,000 NGN
Master's Degree+26%
524,000 NGN
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Nigeria Capital Markets Associate
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/salary-comparison-by-education-level-monthly-nigeria-capital-markets-associate.jpg

We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Capital Markets Associate in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 269,000 NGN.


Level 2: Certificate or Diploma

At this level, the average salary becomes 309,000 NGN, 15% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 416,000 NGN, 35% more than the previous level.


Level 4: Master's Degree

At this level, the average salary becomes 524,000 NGN, 26% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Nigeria costs anywhere from 1,690,000 NGN to 5,080,000 NGN and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Salary and Compensation Comparison By Gender / Capital Markets Associate / Nigeria

Salary comparison by gender Nigeria Capital Markets Associate monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/salary-comparison-by-gender-monthly-nigeria-capital-markets-associate.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Capital Markets Associate in Nigeria, the average difference between the salary of male and female employees is 13%.

Male
388,000 NGN
Female-11%
345,000 NGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Nigeria for all Careers

Salary comparison by gender monthly Nigeria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/salary-comparison-by-gender-monthly-nigeria.jpg

Average Annual Salary Increment Percentage / Capital Markets Associate / Nigeria

How much are annual salary increments in Nigeria for individuals working as Capital Markets Associate? How often do employees get salary raises?

Individuals working as Capital Markets Associate in Nigeria are likely to observe a salary increase of approximately 11% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 19 months.

Annual Salary Increment Rate Nigeria Capital Markets Associate
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/annual-salary-increment-rate-nigeria-capital-markets-associate.jpg


The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Nigeria / All Professions

Annual Salary Increment Rate Nigeria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/annual-salary-increment-rate-nigeria.jpg

The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Nigeria is 5%.

Annual Increment Rate By Industry 2022

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Listed above are the average annual increase rates for each industry in Nigeria for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Capital Markets Associate / Nigeria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Nigeria Capital Markets Associate
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/annual-salary-bonus-rate-nigeria-capital-markets-associate.jpg

48% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 52% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
52%
No Bonus
48%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Salary Trend and Forecast / Capital Markets Associate / Nigeria

How are salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Average Salary 2019
330,000 NGN
Average Salary 2020+4%
342,000 NGN
Average Salary 2021+3%
351,000 NGN
Average Salary 2022+2%
358,000 NGN
Percentage increase and decrease are relative to the previous value

Salaries for individuals working as Capital Markets Associate in Nigeria are on the rise in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.

Salary trends and forecast monthly Nigeria Capital Markets Associate
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/salary-trends-and-forecast-monthly-nigeria-capital-markets-associate.jpg

Average Hourly Wage / Capital Markets Associate / Nigeria


2,140 NGN per hour

The average hourly wage (pay per hour) for individuals working as Capital Markets Associate in Nigeria is 2,140 NGN.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Capital Markets Associate in Nigeria is 1,050 NGN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Capital Markets Associate VS Other Jobs

371,000 NGN
349,000 NGN
339,000 NGN
Average Salary
Capital Markets Associate
Average Salary
Accounting and Finance
Average Salary
All Jobs
Salary Comparison Between Capital Markets Associate and Accounting and Finance monthly Nigeria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/nigeria/accounting-and-finance/capital-markets-associate/salary-comparison-between-capital-markets-associate-and-accounting-and-finance-monthly-nigeria.jpg

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner176,000 NGN-53%
Account Executive311,000 NGN-16%
Accountant238,000 NGN-36%
Accounting Assistant179,000 NGN-52%
Accounting Associate163,000 NGN-56%
Accounting Clerk143,000 NGN-61%
Accounting Coordinator211,000 NGN-43%
Accounting Manager504,000 NGN+36%
Accounting Supervisor317,000 NGN-15%
Accounting Technician168,000 NGN-55%
Accounts Executive314,000 NGN-15%
Accounts Payable and Receivable Specialist242,000 NGN-35%
Accounts Payable Clerk169,000 NGN-54%
Accounts Payable Manager476,000 NGN+28%
Accounts Receivable Clerk172,000 NGN-54%
Accounts Receivable Manager476,000 NGN+28%
Assistant Accounting Manager434,000 NGN+17%
Assistant Auditor238,000 NGN-36%
Audit Supervisor443,000 NGN+19%
Auditing Clerk191,000 NGN-49%
Auditing Manager471,000 NGN+27%
Billing Coordinator213,000 NGN-43%
Billing Specialist249,000 NGN-33%
Billing Supervisor373,000 NGN+0%
Bookkeeper154,000 NGN-59%
Bookkeeping Specialist229,000 NGN-38%
Budget Analyst386,000 NGN+4%
Budget Manager490,000 NGN+32%
Business Support Analyst269,000 NGN-28%
Capital Markets Associate371,000 NGN-0%
Cash Flow Analyst344,000 NGN-7%
Cash Management Officer266,000 NGN-28%
Cashbook Clerk166,000 NGN-55%
Chartered Accountant313,000 NGN-16%
Collections Clerk143,000 NGN-61%
Collections Specialist248,000 NGN-33%
Corporate Treasurer464,000 NGN+25%
Cost Accountant230,000 NGN-38%
Cost Accounting Manager463,000 NGN+25%
Cost Analyst393,000 NGN+6%
Credit and Collection Manager475,000 NGN+28%
Credit and Collection Staff177,000 NGN-52%
Credit and Loans Officer171,000 NGN-54%
Credit Controller326,000 NGN-12%
Debt Adviser389,000 NGN+5%
Debt Collector182,000 NGN-51%
Debtors Clerk158,000 NGN-57%
Deputy CFO662,000 NGN+78%
Derivative Trader394,000 NGN+6%
Escrow Assistant215,000 NGN-42%
External Auditor337,000 NGN-9%
Finance Associate196,000 NGN-47%
Finance Executive510,000 NGN+37%
Finance Licensing Clerk168,000 NGN-55%
Finance Licensing Manager470,000 NGN+27%
Finance Licensing Specialist256,000 NGN-31%
Finance Officer235,000 NGN-37%
Finance President684,000 NGN+84%
Finance Relationship Manager571,000 NGN+54%
Finance Release Analyst268,000 NGN-28%
Finance Team Leader 528,000 NGN+42%
Financial Actuary346,000 NGN-7%
Financial Administrator378,000 NGN+2%
Financial Analyst427,000 NGN+15%
Financial Applications Specialist287,000 NGN-23%
Financial Assistant196,000 NGN-47%
Financial Associate185,000 NGN-50%
Financial Claims Analyst318,000 NGN-14%
Financial Claims Manager402,000 NGN+8%
Financial Commercial Analyst352,000 NGN-5%
Financial Compliance Analyst391,000 NGN+5%
Financial Consultant328,000 NGN-12%
Financial Controller371,000 NGN-0%
Financial Coordinator218,000 NGN-41%
Financial Customer Service Manager439,000 NGN+18%
Financial Dealer and Broker267,000 NGN-28%
Financial Encoder203,000 NGN-45%
Financial Manager627,000 NGN+69%
Financial Operations Manager596,000 NGN+61%
Financial Policy Analyst362,000 NGN-3%
Financial Project Manager480,000 NGN+29%
Financial Quantitative Analyst419,000 NGN+13%
Financial Reporting Consultant331,000 NGN-11%
Financial Reporting Manager446,000 NGN+20%
Financial Services Sales Agent247,000 NGN-33%
Fixed Assets Administrator244,000 NGN-34%
Forensic Accountant288,000 NGN-22%
Fraud Detection Supervisor284,000 NGN-24%
Fraud Prevention Manager498,000 NGN+34%
Fund Accountant224,000 NGN-40%
Grants Coordinator168,000 NGN-55%
Internal Auditor308,000 NGN-17%
Internal Control Adviser363,000 NGN-2%
Internal Control Officer213,000 NGN-43%
Inventory Accountant256,000 NGN-31%
Investment Analyst471,000 NGN+27%
Investment Fund Manager536,000 NGN+44%
Investment Underwriter196,000 NGN-47%
Investor303,000 NGN-18%
Investor Relations Manager451,000 NGN+21%
KYC Team Leader451,000 NGN+21%
Management Economist523,000 NGN+41%
Paymaster196,000 NGN-47%
Payroll Clerk209,000 NGN-44%
Payroll Manager420,000 NGN+13%
Pensions Administrator238,000 NGN-36%
Pricing Analyst381,000 NGN+3%
Private Equity Analyst436,000 NGN+17%
Proposal Development Coordinator200,000 NGN-46%
Receivables Accountant214,000 NGN-42%
Regulatory Accountant259,000 NGN-30%
Retirement Plan Analyst368,000 NGN-1%
Revenue Management Specialist405,000 NGN+9%
Revenue Recognition Analyst419,000 NGN+13%
Risk Management Director546,000 NGN+47%
Risk Management Supervisor476,000 NGN+28%
Tax Accountant231,000 NGN-38%
Tax Advisor375,000 NGN+1%
Tax Associate199,000 NGN-46%
Tax Manager471,000 NGN+27%
Teller140,000 NGN-62%
Treasury Accountant246,000 NGN-34%
Treasury Analyst406,000 NGN+9%
Underwriter163,000 NGN-56%
Underwriting Assistant162,000 NGN-56%
Vice President of Finance632,000 NGN+70%

Salary Comparison By City

CityAverage Salary
Benin City319,000 NGN
Ibadan349,000 NGN
Kaduna349,000 NGN
Kano377,000 NGN
Lagos371,000 NGN

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Nigeria is 6% on average across all career fields.

Private Sector
328,000 NGN
Public Sector+6%
347,000 NGN
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Capital Markets Associate in Nigeria?

A good and competitive compensation would range anywhere between 346,000 NGN and 396,000 NGN. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Capital Markets Associate in Nigeria ranges from 283,000 NGN to 396,000 NGN. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison

©Salary Explorer 2023