Study shows Nigerian graduates are under-compensated

A study by Stutern, an online platform that connects interns with employers, has revealed that Nigerian graduates are grossly underpaid by local companies in the country but that’s not all. The report also indicates that graduates from Covenant University are the most employable in Nigeria.

The Nigerian Graduate Report 2016
Graduates getting a raw deal

According to the survey, 75% of new graduates earn less than N50,000 ($125) in their first job. And a deeper look at the number reveals 1 in 4 new graduates earn less than N20,000 ($50) as their first salary in Nigeria.

“Graduate unemployment is a massive waste of resources – 36.26% of our graduates are unemployed. But what could be worse is the under-compensation of talent. It has implications for security, health, and economic growth,” said Kehinde Ayanleye, Stutern’s Co-founder. The employability of Nigerian graduates has always been a prominent theme in entrepreneurial conversations in Nigeria

The employability factor

The report by Stutern finds that graduates from Covenant University are the most employable in Nigeria. A reasonable number of graduates from this university possessed a set of achievements, understanding as well as personal attributes that make them more likely to gain employment and to be successful in their chosen careers.

Meanwhile, the University of Ilorin ranks as the top University in terms of return on investment to the students. By return on investment here, we mean the difference between the average tuition paid by the graduates while in school and the average salary starting salary upon graduation. This is because the average tuition is affordable while the first salary for graduates from this institution is very attractive.

Graduate jobs across industries

The study also illustrated the spread of first graduate jobs across industries. According to the survey, the education sector absorbs most graduates for their first jobs – a trend that could be a function of the national NYSC program where most graduates are mandated to teach at secondary schools.

Meanwhile, the technology, nonprofit, banking, and finance sectors begin to absorb more graduates as they get their second jobs.

The report also revealed that most graduates affirmed that communication skill and knowledge of the job are the two least skills their academic institution prepared them for.

The Nigerian graduates deserve to be under-compensated because they are under-qualified.
Is there any world class university in Nigeria
Have you ever seen or heard any Nigerian University among the top 1000 in the world...
Most of them have no practical knowledge.
Our Engineering graduates think that solving calculus for five years is what they were meant to do in school.

Abi ooo. Education does it really worth it again?

eezeribe:
The Nigerian graduates deserve to be under-compensated because they are under-qualified.
Is there any world class university in Nigeria
Have you ever seen or heard any Nigerian University among the top 1000 in the world...
Most of them have no practical knowledge.
Our Engineering graduates think that solving calculus for five years is what they were meant to do in school.

YES! UI is on Times Higher Education Rankings.

KillerBeauty:
Study shows Nigerian graduates are under-compensated

Graduates getting a raw deal

According to the survey, 75% of new graduates earn less than N50,000 ($125) in their first job. And a deeper look at the number reveals 1 in 4 new graduates earn less than N20,000 ($50) as their first salary in Nigeria.

Interesting piece

Why use the word "compensated"?

The way I understand it, you get compensated for rendering a service. That's why employees receive compensation for services rendered.

Is being a graduate a job? I don't think so.

The marketplace pays based on several factors (negotiation, the market demand for the skills, etc)

A graduate who is desperate for ANY job and applies for a security man job will certainly get a low-paying job as his first job.

However, at the same time, there are many medical doctors whose first job (even from NYSC camp) pays them FAR above what that study suggests.

By the way, I wonder how big the sample size of the survey was.

Thanks for sharing this.

alignacademy:


Interesting piece

Why use the word "compensated"?

The way I understand it, you get compensated for rendering a service. That's why employees receive compensation for services rendered.

Is being a graduate a job? I don't think so.

The marketplace pays based on several factors (negotiation, the market demand for the skills, etc)

A graduate who is desperate for ANY job and applies for a security man job will certainly get a low-paying job as his first job.

However, at the same time, there are many medical doctors whose first job (even from NYSC camp) pays them FAR above what that study suggests.

By the way, I wonder how big the sample size of the survey was.

Thanks for sharing this.

Hmmm ...wise words!