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Executive and Management Average Salaries in Nigeria 2022

How much money does a person working in Executive and Management make in Nigeria?


Average Monthly Salary
458,000 NGN
( 5,500,000 NGN yearly)

LOW
151,000
NGN
AVERAGE
458,000
NGN
HIGH
756,000
NGN

A person working in Executive and Management in Nigeria typically earns around 458,000 NGN per month. Salaries range from 151,000 NGN (lowest average) to 756,000 NGN (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Executive and Management careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Account Coordinator316,000 NGN
Administration Manager369,000 NGN
Area Manager357,000 NGN
Asset Protection Associate400,000 NGN
Assistant Director399,000 NGN
Assistant Manager431,000 NGN
Assistant Operations Manager437,000 NGN
Assistant Project Manager386,000 NGN
Assistant Section Head326,000 NGN
Assistant to CEO347,000 NGN
Assistant Vice President405,000 NGN
Associate Director401,000 NGN
Bid Manager427,000 NGN
Branch Manager435,000 NGN
Business Development Manager501,000 NGN
Business Operations Associate407,000 NGN
Business Operations Lead403,000 NGN
Campaign Manager426,000 NGN
Chairman of The Board747,000 NGN
Chairman Office Manager471,000 NGN
Chief Corporate Officer607,000 NGN
Chief Executive Officer729,000 NGN
Chief Financial Officer689,000 NGN
Chief of Staff333,000 NGN
Chief Operating Officer579,000 NGN
Chief Risk Officer480,000 NGN
Client Services Manager495,000 NGN
Commercial Project Manager416,000 NGN
Commodity Broker313,000 NGN
Corporate Affairs Executive442,000 NGN
Corporate Compliance Director482,000 NGN
Corporate Director536,000 NGN
Corporate Officer366,000 NGN
Corporate Partnerships Officer344,000 NGN
Country Manager597,000 NGN
Deputy Director531,000 NGN
Director583,000 NGN
Director of Accreditation477,000 NGN
Director of Catering Services455,000 NGN
Director of Client Services492,000 NGN
Director of Facilities Management399,000 NGN
Director of Operations477,000 NGN
Director of Process Simplification395,000 NGN
Director of Project Management520,000 NGN
Director of Revenue Management450,000 NGN
Director of Training and Development476,000 NGN
Distribution Manager488,000 NGN
Division Manager421,000 NGN
Duty Manager418,000 NGN
Engagement Manager540,000 NGN
Executive Director745,000 NGN
Executive Manager618,000 NGN
Franchise Manager654,000 NGN
General Manager565,000 NGN
Global Master Data Manager518,000 NGN
Head of Middle Office485,000 NGN
Head of Projects499,000 NGN
Head of Sustainability433,000 NGN
Housing Manager383,000 NGN
HSE Manager413,000 NGN
Key Account Manager427,000 NGN
Knowledge Manager498,000 NGN
Location Manager489,000 NGN
Logistics Manager369,000 NGN
Management Consultant406,000 NGN
Management Executive542,000 NGN
Manager486,000 NGN
Managing Director590,000 NGN
MIS Executive498,000 NGN
Ocean Services Manager522,000 NGN
Operations Assistant349,000 NGN
Operations Director566,000 NGN
Operations Executive552,000 NGN
Operations Manager575,000 NGN
Operations Supervisor441,000 NGN
Policy Administration Executive417,000 NGN
Private Sector Executive441,000 NGN
Product Development Manager510,000 NGN
Product Executive424,000 NGN
Production Executive504,000 NGN
Production Manager482,000 NGN
Production Supervisor418,000 NGN
Program Manager506,000 NGN
Programme Coordinator365,000 NGN
Project Control Manager500,000 NGN
Project Coordinator305,000 NGN
Project Management Officer356,000 NGN
Project Manager359,000 NGN
Project Portfolio Manager386,000 NGN
Quality Manager411,000 NGN
R/D Director430,000 NGN
Regional Director670,000 NGN
Regional Manager499,000 NGN
Relationship Manager512,000 NGN
Retail District Manager358,000 NGN
Revenue Manager394,000 NGN
Risk and Capital Manager559,000 NGN
Risk Officer396,000 NGN
Safety Manager372,000 NGN
Section Head366,000 NGN
Service Manager391,000 NGN
Shift Supervisor298,000 NGN
Solutions Manager368,000 NGN
Supervisor305,000 NGN
Supply Chain Manager537,000 NGN
Surveyor345,000 NGN
Technical Manager468,000 NGN
Territory Manager496,000 NGN
Validation Manager441,000 NGN
Vice President633,000 NGN
Zone Manager524,000 NGN

Executive and Management Jobs Salary Distribution in Nigeria

Median and salary distribution monthly Nigeria Executive and Management
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The median, the maximum, the minimum, and the range

  • Salary Range

    Executive and Management salaries in Nigeria range from 151,000 NGN per month (minimum average salary) to 756,000 NGN per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 440,000 NGN per month, which means that half (50%) of people working in Executive and Management are earning less than 440,000 NGN while the other half are earning more than 440,000 NGN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Executive and Management are earning less than 266,000 NGN while 75% of them are earning more than 266,000 NGN. Also from the diagram, 75% of people working in Executive and Management are earning less than 574,000 NGN while 25% are earning more than 574,000 NGN.


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

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

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.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


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 Naira(s) to 5,080,000 Naira(s) 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 into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Executive and Management Salary Comparison By Gender

Salary comparison by gender monthly Nigeria Executive and Management
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Nigeria who work in Executive and Management earn 12% more than their female counterparts on average.

Male
492,000 NGN
Female-11%
437,000 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
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Executive and Management Average Annual Salary Increment Percentage in Nigeria

How much are annual salary increments in Nigeria for Executive and Management professionals? How often do employees get salary raises?

Executive and Management

Executive and Management professionals in Nigeria are likely to observe a salary increase of approximately 11% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 19 months.

Annual Salary Increment Rate Nigeria Executive and Management
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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

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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 2021

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 2021. 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

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Executive and Management Bonus and Incentive Rates in Nigeria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Nigeria Executive and Management
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Executive and Management is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

28% of surveyed staff in Executive and Management reported that they haven't received any bonuses or incentives in the previous year while 72% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
72%
No Bonus
28%

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.

Executive and Management Hourly Average Wage in Nigeria


2,640 NGN per hour

The average hourly wage (pay per hour) in Nigeria is 2,640 NGN. This means that the average person in Nigeria earns approximately 2,640 NGN for every worked hour.


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

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 fix 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.

Executive and Management VS Other Jobs

Salary Comparison Between Executive and Management and Executive and Management monthly Nigeria
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The average salary for Executive and Management is 35% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Benin City390,000 NGN
Ibadan437,000 NGN
Kaduna412,000 NGN
Kano454,000 NGN
Lagos475,000 NGN

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Nigeria earn 6% more than their private sector counterparts on average across all sectors.

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

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