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Nigeria’s Highest Paid CEOs - Career (6) - Nairaland

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Re: Nigeria’s Highest Paid CEOs by 1stola: 8:38pm On Nov 27, 2013
imsparkling: I will get there
very soon.
Re: Nigeria’s Highest Paid CEOs by Sagamite(m): 1:48am On Nov 30, 2013
emmanuel ewumi:


These may answer some of your questions.


http://www.graduates.co.uk/graduate-starting-salaries-in-2013-14/



http://www.oilgrads.com/artMoneyMatters.asp

That does not answer any of my questions at all.

All that tells me is that Western O&G engineers do not make as much as Nigerian O&G engineers despite living in a place with higher cost of living, the quality of the graduates are tens of times better and salaries are normally far higher than in Nigeria. And worse still, in America, engineering grads are postgrads and yet make roughly the same as an undergraduate Nigerian.

That just looks crazy.
Re: Nigeria’s Highest Paid CEOs by Sagamite(m): 1:54am On Nov 30, 2013
mikekhan:


I understand ur struggle to believe. But it is the whole truth. Let me start by saying I have about 7 classmates who all got jobs in Chevron, Mobil and Shell specifically, even I was supposed to get the Shell job in December 2012 after I had done medicals and was eventually rejected. I sighted the offer letters of these 3 companies. I can authoritatively tell you that basic salary in Shell is 7.5m and allowances take it to about 15m before tax, -all these are on the letter- now for the monies not on the letter; for accomodation- they were offered either free accomodation for 3 months OR cash equivalent of 2.6m. For the next 2 yrs so allme of them will be doing off-location jobs within Rivers state for which they get daily allowances in tens of thousands. Now this is excluding some unexpected bonuses that may be given in honour of the companies' successes for the year. Now tell me how that will not go over 20m for a B.Eng fresh graduate without experience- That is Shell. For Mobil what is on the letter is about 18m, for Chevron it is 21m.

Now this is a little enlightenment for all-- A job with an OIL EXPLORATION AND PRODUCTION COMPANY is different from a PETROLEUM PRODUCT MARKETING COMPANY and is also different from a OIL SERVICING COMPANY ( E & P >> SERVICING>>>>>>>>>>>>>> OIL MARKETING even if they are part of the larger ENERGY INDUSTRY, that is why when people are usually doubtful when they say TOTAL pays the most. There is TOTAL EXPLORATION AND PRODUCTION NIGERIA LTD and there is TOTAL NIGERIA PLC(Oil marketing) both are Nigerian subsidiaries of France's TOTAL S.A. so when u hear or say TOTAL be specific ccos they have totally different salary scales.

Now for all doubting Thomas jobs with OIL EXPLORATION AND PRODUCTION COMPANIES are amongst the highest paying jobs WORLDWIDE, for Nigeria I make bold to say they are ABSOLUTELY the highest at virtually all levels for entry level to MD. This is an industry that accounts for 80% of Nigeria' account balance grin,( so I wonder how you doubt that. Do you know how much is generated by an average sized oil rig in a day- you are talking about $5m/day.

Please do not doubt- This is BIG OIL that drives a larger part of the Middle East economies. And you Harvard vs Unilag graduate analogy does not hold sway here, I'm sorry to tell you. The jobs are not rocket science , any sharp individual can handle them.

Bros no ever use OIL play ooooo. Hian!!. They should not ever come up in your comparison with any other in industry in Nigeria specifically, much less Banks,( who be Banks? angry Those ones that go to lobby to even get the salary or vendors/contractors payment accounts for these companies.) MTCHEEEEEWWWWW . Abeg make una no make me vex. Signing out

Well, what can I say.

Maybe this is just one of those crazy and unexplainable things in the world.

It does not make sense but it happens.
Re: Nigeria’s Highest Paid CEOs by Sagamite(m): 2:00am On Dec 08, 2013
Still more information that adds to the bewilderment.

http://www.hays.com/prd_consump/groups/hays_common/@og/@content/documents/digitalasset/hays_724929.pdf
Re: Nigeria’s Highest Paid CEOs by AjanleKoko: 5:58pm On Dec 08, 2013
^^^
Stop being bewildered jare tongue

It's no secret that oil and gas workers in Nigeria are paid at least 40% above the average salaries in the West.
Any HR person in the industry can tell you that. There are many reasons for this, including union agitation and enforcement by JV arrangements.
But it is what it is.

In their defence though, I'd say that the oil majors easily employ the most brilliant graduates Nigeria produces. They have a reasonably standard selection process, and invest a lot in on- and off-the-job training. The average Nigerian employee in upstream oil and gas isn't the average Nigerian graduate, to a large extent.
Re: Nigeria’s Highest Paid CEOs by saintgwizard(m): 1:46am On Aug 04, 2014
stankezzy: do not decieve ur self.ibos are now leading in education.both in quality nd quantity.if u doubt it ask jamb nd waec.d records are there.in d whole univrrsitys eastern state have d highest cut off.each year in jamb nd waec,d first 100 always have 80%eastern or ibo state.so where is yoruba leading,u can google it.I GET AM BEFORE NO BE PROPERTY.BROS DIS UR TALK NA FOR 20YEARS AGO ,NO BE NOW.IN LIFE OVERTAKEING IS ALLOWED.

While we were both saying same thing , you were even attacking my comments without getting to understand its content. Advice; read clearfully before commenting
Re: Nigeria’s Highest Paid CEOs by Orikinla(m): 3:42pm On Aug 04, 2014
My annual salary will be more than US$3 million as the CEO of my own company. So, will that make me the highest paid CEO in Nigeria?
Re: Nigeria’s Highest Paid CEOs by jpphilips(m): 3:10pm On Aug 06, 2014
Sagamite:

For someone with no experience?

In a country where thousands of graduates would bite your hands off for a fraction of that with a promise of that figure in another 5 years?



Really?

£100K for 3 or 4 years experience? In Nigeria?

Please explain to me using your employment letter how the remuneration is structured?



How is that structured?

Any reasonable explanation I will give to you will serve us lunch on a personal plate, just take my word for it.
Re: Nigeria’s Highest Paid CEOs by jpphilips(m): 3:17pm On Aug 06, 2014
Sagamite:

Maybe that could be true, but I find it a struggle to believe that can be basic salary for an entry staff or even someone with 3-5 years experience.

Why

- Because even the Engineers in more affluent and developed countries do not make that. So if they are paying fresh local grads that, what will they pay Oyinbo expatriate with 10 years experience moving to Nigeria? N150m?

- Because I wonder how the management can justify such figures to their shareholders considering they can find 4 Nigerian grads for those salary figures and those 4 would be over the moon and bite their hands off. Why pay over market-dictated prices?

- Because the labour market has too much supply and there is virtually not much that adds a premium to the hired students to justify such salaries. Even Harvard grads will struggle to get such salaries for entry level in the developed world. So why pay a Unilag grad more than an Harvard grad?

- Because I have a close older friend that is an experienced oil sector staff. Someone who has experience working in Nigeria and the UK for the biggest brands in senior-mid roles and when he moved back to Nigeria after his stint in the UK to take a regional leadership role with a top firm, he blatantly told me his whole salary package and it was in no way extortionate as these figures (and I knew his salary package in the UK too). The Nigerian job's salary was high but very aligned to international comparative figures. This was a guy with over 15 years experience. Now he is in a new position with another of the international firms in Nigeria where he has only 2 superiors in the entire firm in Nigeria. So if his salary was not extortionate despite his years of direct, international and locally relevant experience, I struggle to believe entry level grads can make that much.

Just realized that this discussion was last year, guess you know better now grin grin grin grin
Re: Nigeria’s Highest Paid CEOs by henryc2(m): 4:23pm On Aug 16, 2014
The banking sector in any country plays a fundamental role in increasing the level of economic activity. As intermediaries to both suppliers and users of funds banks are situated in a continuum that determines the pulse of the economy. Worldwide, the ability or inability of banks to successfully fulfill

http://www.scharticles.com/earnings-management-share-prices-nigerian-banking-industry/
Re: Nigeria’s Highest Paid CEOs by geophyscist: 12:05pm On Sep 12, 2014
chiefinalowo:

I am 100% sure that you are ibo. You can prove me wrong.
While your people are saying casting down, Yorubas are saying lifting up.
my frnd the list is nonsense you want to tell me that banking is the most lucrative job in nigeria,bullshit !!!i expected oil and gas ceo to occupy the list then telecomunication ceo before considering banking sector.you if i offer you a job in these 3 sector i mentioned which will you go for,you just type any thing that comes into your mind.
Re: Nigeria’s Highest Paid CEOs by Felix799(m): 4:13pm On Feb 21, 2016
Mine on the way. So shall it be.
Re: Nigeria’s Highest Paid CEOs by asalimpo(m): 4:41pm On Feb 21, 2016
Orikinla:
My annual salary will be more than US$3 million as the CEO of my own company. So, will that make me the highest paid CEO in Nigeria?
$3m on a capital base of how much?

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