Master Degree Holder Salary in Nigeria

This article will give you an insight into Master degree holders’ salary in Nigeria.

Keep reading below to find out. 

Master Degree in Nigeria

Nigeria is a country with so many opportunities. In fact, Nigeria has been said to have the potential to become one of the largest economies. Although, this was said looking at its potential richest attributed to its abundance in crude oil.

Upon showing great potential of wealth and an expanding economic base, many Nigerians still suffers from poverty.

According to some researches, more than half of the population of Nigeria suffers from extreme poverty; having to live with less than 1 dollar a day. This is quite an alarming situation that shows that the economy has truly been affected.

It is worth saying that there is a strong relationship between the employment rate and the state of the economy. This is because the state of the economy would determine the number of available jobs for graduates.

No doubt, the cripple economy has led to the collapsing of many existing companies in Nigeria. So many Nigerians have lost their jobs. This ugly situation of Nigeria does speak ill of the faith of graduates in the country.

As a result, so many graduates find it difficult to get profitable jobs.

Amidst this tough period, some people are still enjoying a fairer part of the economy of Nigeria. They are able to get a profitable job and live big.

Amidst this tough time, there are companies still thriving and are able to accept a large number of applicants as employees.

With a small portion of lucrative jobs in Nigeria, the fight increases among graduates. There is a critical need to get more qualified. Hence, the need for a Master’s degree.

Master Degree Holders and the Labor Market of Nigeria

Master degree holders can be found in different parts of Nigeria.

As it is part of life, master degree holders find themselves in different situations.

These conditions or situations are presented below;

·        Employed by a Big Establishment

·        Employed by a Small Establishment

·        Self –Employed

·        Jobless

Master degree holders’ salary in Nigeria is influenced by several factors and they are;

     1.     Employers or Industry they offer their services to

     2.     Course of Study

     3.     Career Path

     4.    Acquiring an additional certificate such as being professional certified.

Master Degree Salary in Nigeria

This article has been purposed to reveal to you master degree holders salary in Nigeria.

As said before, master degree holders find themselves in different situations. This, therefore, influences the master's degree holder salary in Nigeria.

1.     Master Degree Holders Employed in Big Establishments:

Establishments found in the following industries in Nigeria has been said to be performing very well in Nigeria. These industries include oil and gas, food processing, banks, construction, medicine, telecommunication industry, etc.

Master degree holders in these industries would likely earn between N120, 000 to N2, 500, 000. This is considered to be the high end.

2. Master Degree Holders Employed in Small Establishments:

Small establishments include labs, secondary schools, medium-sized hospitals, medium-sized trading firms, etc.

Master degree holders’ salary in these small establishments would be likely between N50, 000 to N200, 000

3.  Master Degree Holder who are Employed not According to their Certificate or Qualification:

There are some master's degree holders who offer services that are not related to their qualifications. These master degree holders do not really get paid as master degree holders. They are rather paid according to the services they are offering. Some of these places include; factories, cyber café, hotels, etc.

They are likely to earn N20, 000 to N70, 000. This is considered as the lower end.

Most master's degree holders are considered to be underpaid. Only a few are paid a high amount of salary a month. The labor market would only be highly favorable if the economy flourish.

That is pals on “master degree holders’ salary in Nigeria