Jarus:
There are actually 10m in the energy sector. 2 or 3 IOCs pay more than 10m at entry level.

Bsc or PHd job?
Sorry to disgrace, why is Naija argument always " that's not true or I don't believe it" without providing another data/proof? I'd like to read another published ariticle on CEO wages in Naija. In 2013, we should strive to counter facts with facts not I don't believe it or it's a lie argument. I'm dying to read a well published article with different figures covering IOCs and telecoms. Since these are public companies, shouldn't there compensation packages be on public domain?

doesn't work like that in naija unfortunately, thats why most argument/debate end up looking like beer parlour discussions

That's why the list itself is a bit skewed, most info are from 'insiders', think about it even job adverts dont come with salary scales except perhaps for civil servants


Mobil is 11m starting according to 'insiders'

Pls which kind of job opportunities is for those dat study sociology

Dis Guy: doesn't work like that in naija unfortunately, thats why most argument/debate end up looking like beer parlour discussions

That's why the list itself is a bit skewed, most info are from 'insiders', think about it even job adverts dont come with salary scales except perhaps for civil servants


Mobil is 11m starting according to 'insiders'

"Insider" Naija way of giving too much power to rumour millers and incompetent folks. An insider to fix a failed JAMB score, an inside to help u talk to JEG, but u have to pay N100milion. A recent incident where an "insider"offered to "help" my friend check 3 of his bags as two without paying for one, but the same "insider" didn't know that my friend as a frequent flyer can check in 3 bags without any charges.

Sadia1992: Pls which kind of job opportunities is for those dat study sociology

Hey bro, not to worry I studied sociology too @ first degree later got an MBA and also a professional qualification in Marketing. Its a life changing discipline and I'll assure you that you can get formal employment in any sector mentioned in the above mentioned sector. Have 2 classmates @ Mobil, 1 @ NLNG and I work in a commercial Bank. You will do well I assure you.

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.

I dnt blame u because sentiment runs in vains

That list is a pure joke...

Yorub vs ibo shit, when una go stop!

Being ibo, working with yorubas was an almost impossible task.

They steal, gosssip and do all sorts of ridiculous things.

Sometimes I wish I cn have an youruba wiper missile, to take these disgruntled, naïve people out of the face of the earth ..


All of you! Fucking slaves
quote author=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.[/quote]

The list can't be founded. I know ordinary workers who earn in excess of 40m per annum. For your list to be credible, the least paid should be in the region of 100m. I

When will these "Yoruba vs Igbo" stuff end.It is very childish for someone to insult another's tribe as if we choose to be born in our tribes.I wonder how it even stated.

Hehehehehehehe

I laugh at some people's ignorance here. Why argue about salaries anyway?

I wonder when this salary argument on Nairaland will end....

Sagamite:

I am pretty sure there will be no sector in Nigeria where starting salaries would be up to N10m, talkless of N15m.

@sagamite, 17m annually is everywhere open your eyes

Goodleader: I work in salary unit of Firstbank Ltd.My Ceo earns far more than the highest on this list.I make bold to say and stand to be corrected that he is among the highest paid CEOs in Africa. Doubting Thomases may prove me wrong.

does it mean banks pay the ceo everyone else's salary?
with 56b on declared profit last year, I understand completely where you are coming from.

ngozievergreen:

Go and check the tribe that produced more lecturers in d western /northern region bfr 1970, am not talking of now. presently, tribalism n quota sys have displaced merit.
Besides, zik didn't make any Igbo VC! the white men handed univ of Ibadan to capable hands, coincidentally igbos.
zik wasn't even clannish as Ahmadu bello and Awo.
He usu told igbos those days to imbibe self reliance and competition; and he was more of a nationalist/Africanist-Zik of Africa.
.
About the multinationals, Awo and Gowon deliberately schemed igbos out of shareholding and bereaucracy thru d 20 pounds stuff and outright marginalization.
If Igbos were allowed to have their millions and their pre war positions, u and i knew wat the situation will be like.
.
Again those oil/banking/civil service were handed to yorubas while hausas took the armed forces n politics.
The result is what we have till today: yorubas being more visible in multinationals and Hausa in army/ politics.
Though the statistics are getting better these days.
.
The lesson from this is that yorubas can rise ONLY when the igbos are already flat on the floor.
On a good day, u can't even compete.
Even after everything, the wealth distribution among igbos remains the best in the country and Ibadan/oshogbo appears more war torn than Enugu/owerri.

I pity the kind of children that will come out of a mother whose brain thinks nothing else but igbo, yoruba and Hausa.

you need serious education and re orientation, you are a disgrace to insanity.
people who take you serious are mere degenerates like you.
every thread, every post same nonsense.
Please kill yourself so we can have peace here.

hmmmm

kayce19: Being a successful and influential chief executive officer takes hard work, guts, sacrifice and a more-than-average knowledge of how the business environment works. Many who wish to be successful and influential wonder how others have achieved great things, thinking such feats are impossible in their bid to toe same path.

Nigeria boasts a slew of successful CEOs in almost every sector – banking, oil and gas, sports, health and manufacturing. LEADERSHIP Friday unveils some of Nigeria’s highest paid CEOs and the stories behind their rise to the top, based on authoritative reports, between 2009 and 2012.

CEO, Stanbic IBTC, Sola David-Borha

As the managing director/CEO of Stanbic IBTC Holdings Plc, David-Borha is one of the country’s highly-rated bankers. She is the highest paid director in Nigeria’s banking sector, with an annual remuneration of N177m. When broken down, this becomes N484, 931 daily, including weekends when may have no reason to go to work.

David-Borha has patiently risen through the ranks to get to where she is today. She was, at different times, responsible for overseeing the corporate finance and corporate banking, projects and structure finance, as well as asset management and private banking departments. At a time, she bore the burden of supervising treasury and finance services department.

David-Borha also headed the correspondent banking relationships’ department at Stanbic IBTC and served as a member of the executive committee. She was appointed to the bank’s board in 1994 and has held other positions, including a spell as director of Stanbic IBTC Bank Plc, Stanbic Nominees Nigeria Limited and Stanbic IBTC Stockbrokers Limited. She was also appointed a member of the board of Financial Institutions Training Centre (FITC). She did not miss serving as a member of the bank’s board credit, board nominations and risk management committees.

Having passed through these stages before rising to the pinnacle, David- Borha can be said to have, indeed, paid her dues and can be said to have exhibited a great degree of competence, experience, long career plan and hard work to get to her present position.


CEO, Mobil Oil Nigeria Limited, Tunji Oyebanji
Mobil Oil Nigeria (MON) is one of Nigeria’s major petroleum products marketing companies. As its chief executive officer, Oyebanji is on an annual remuneration of N85m. When broken down, this amounts to a daily pay of about N231, 956.

As chairman/CEO/managing director of MON, there is no doubt that Oyebanji’s hard-work, commitment and dedication has been largely responsible for the turn-around which the company’s fortune has experienced, making it stand tall among other competing oil corporates.

The company now operates more than 200 retail outlets spread across the 36 states of Nigeria and the Fedeeral Capital Territory; it owns three plants (in Apapa, Lagos State) where lubricants, petroleum jelly and insecticides are manufactured.

As at 2011, MON had an annual turn-over of N63.1bn, from N58.34bn in 2010. With a combined dividend per share of N5 and bonus issue of one for five shares, MON has, arguably, the industry’s highest priced stock.


CEO, GTBank, Olusegun Agbaje
The managing director/CEO of Guaranty Trust Bank (GTB), Olusegun J.K. Agbaje, is rated as one of the country’s highest paid CEOs. His GTB prides itself as “the biggest and most profitable bank in Nigeria” and one of the biggest companies on the shores of West Africa. Agbaje co-founded the GTB in 1990 with Tayo Aderinokun who died in 2011.His annual take-home is a whopping N77m.

Before assuming the current position, Agbaje was the deputy managing director of the bank between August 2002 and April 20, 2011. He has also served as the divisional head of the bank’s institutional banking division and also as acting MD of GTB (Ghana) Limited, from April 20, 2011.

Interestingly, Agbaje has served in a number of capacities before becoming the man at the helm of the bank’s affairs. He was, at different points in his career; member, Assets and Liability Management Committee; member, Criticised Assets Committee; member, Board, Information Technology Strategy Committee and member, Board, Risk Management Committee.

On his way to the top, Agbaje also served as member, board, Human Resources and Nomination Committee; member, Management Risk Committee and member, Management Credit Committee. Experience garnered from serving in these committees helped, in no small measure, in preparing him for the current position of CEO.


CEO, Oando Plc, Jubril Adewale Tinubu
According to recent financial reports, the second highest paid CEO in the oil sector is Wale Tinubu, with a total annual remuneration of N69m, an equivalent of N189, 041 per day.

Tinubu is the group chief executive of the company which has been hailed as Africa’s leading indigenous energy solutions provider listed on the stock exchange in Nigeria and Johannesburg. Tinubu also has a record of long-time service, having served on the board of various blue-chip companies as chairman and director.

His outstanding performance has won him several awards, among which are; Africa’s Business Leader of the Year awarded by the African Business Magazine and the Commonwealth Council on the basis of his contributions to the development of the African oil and gas sector in 2010. He won the same accolade in 2011, courtesy of the African Investor.

These accolades are proof that Tinubu’s ascension to the pinnacle of the administrative ladder in Oando was no fluke but a function of his doggedness and hard-work. Tinubu also holds key positions in a number of major financial institutions.


CEO, Forte Oil Plc, Akin Akinfemiwa
Forte Oil Plc. (formally African Petroleum Plc.) is a foremost indigenous major marketer of refined petroleum products with strong presence in the 36 states of the federation and Abuja. According to recent reports, as its group chief executive officer, Akinfemiwa’s annual salary is N64m (N175, 342 per day).

Prior to this appointment, Akinfemiwa had a successful career in the banking sector. He served as the CEO of Sky Bank Plc, until July 31, 2010. His expertise covers a range of areas, including; strategic planning and management, corporate banking, project financing, leadership and advisory services. He has also served as managing director/CEO of Prudent Bank.

Akinfemiwa has now brought his hard-work to bear on the fortunes of Forte Oil Plc. The public liability company which is quoted on the Nigerian Stock Exchange (NSE) has over 500 dealer-assisted and dealer-developed retail outlets spread across the country.


CEO, UBA, Phillips Oduoza
Phillips Oduoza is the chief executive officer, group managing director, and an executive director of the United Bank for Africa (UBA) Plc. He is one of the highest paid CEOs in the banking sector, with an annual remuneration of N57m (as at 2010). It suffices to say that Oduoza is one of the few who can beat their chest in fulfilment of a banking career.

He became the CEO and managing director of the bank in August 2010 and has served as its deputy managing director (South) from the 2005. Besides having the honour of having gained monumental experience from working across different banks for more than 20 years, he has served also as the bank’s executive director of Retail Financial Services. UBA’s fortune, no doubt, has snow-balled, with results from his professional services and investment of talents as proof.

His services in the bank cut across membership of the board risk committee and financial and general purpose committee. Before assuming the position of CEO, he served as deputy managing director of the bank. Among many other designations, he was an executive director of the defunct Standard Trust Bank (STB) which was acquired by the UBA in the thick of the consolidation exercise introduced by the then-governor of the Central Bank of Nigeria (CBN), Professor Charles Chukwuma Soludo.


CEO, Ecobank Nigeria, Jubril Aku
According to a Banks’ Financial Transparency report, as at 2009, the bank ranked second on the list of highest paid bank CEOs in Nigeria, with N88m per annum as salary for its CEO. But the bank reportedly slashed the CEO’s emolument to N38m per annum, perhaps, as a measure against financial stress.

Jubril Aku is the chief executive officer (CEO) of Ecobank Nigeria Plc. He has been its managing director since March 2010. Aku served as acting treasurer, Citibank, Tanzania and as country treasurer, Citibank Nigeria Plc.

He began his banking career in 1979 with the United Bank for Africa (UBA) Plc., where he worked for three years from September, 1986 to December, 1989. He served at the Continental Merchant Bank Plc., where he worked as a credit and investment analyst.

Aku has served in various capacities with different financial institutions and is, by all standards, an accomplished banker.

Au’s academic brilliance has earned him several accolades, among which are the First Bank of Nigeria Plc Prize for the Best Graduating Student in Banking and Finance at the Ahmadu Bello University, from where he graduated with honours in 1986.


CEO, Zenith Bank, Godwin Emefiele
The CEO and group managing director of Zenith Bank Plc, Godwin Emefiele, is also one of the highest paid CEOs of Nigerian companies. Emefiele succeeded the pioneer CEO of the bank, Jim Ovia, in August 2010. By his current position in the bank’s hierarchy and the number of branches it can bboast of within the country and in West Africa, it is evident that Emefiele is fulfilled.

Prior to his choice of banking as a career in Zenith Bank, Emefiele was a lecturer in University of Nigeria and University of Port Harcourt where he taught Finance, Bank Management and Insurance. However, he later left the academia for banking. He joined Zenith as a pioneer staff over 22 years ago and has proved his worth in advancing the bank as well as increasing its fortunes and profitability. In 2001, he was appointed deputy managing director before succeeding Ovia three years ago.

He has also served as member of Executive Committee, member of Board Credit Committee, member of Staff Matters, Finance and General Purpose Committee and member of Board Risk Management Committee. Emefiele’s services and impact were also felt in Management Global Credit Committee, Risk Management committee, Assets and Liabilities Committee and Information Technology Steering Committee where he served as member.

The advancements made by the bank are not without the inputs of Emefiele who served as executive director in charge of corporate banking. He as well served in the treasury, financial control and strategic planning department. He has been in the management team of Zenith Bank from its inception.


http://leadership.ng/news/221113/nigeria-s-highest-paid-ceos
http://247nigerianewsupdate.com/nigerias-highest-paid-ceos-top-on-the-list-with-an-annual-remuneration-of-n177m/

CEOs earn far more than what they say they earn in the annual reports of their companies, they always add a clause to the remunerations of CEOs" this does not include certain allowances, benefits and privileges.

Caracta: I was expecting the CEO of Zenith bank to be number 1 or 2. As for the list, only banks and oil companies?

When Jim was the CEO of Zenith his salary was about N40 million, but he gets over N800 million as dividends. Based on the current shareholding of Jim in Zenith, the dividends he got in 2012 should be higher than N1bilion .

dahmie2013: What of First bank? Father of Banks in Nigeria(FBN).

I will check the current annual report, it used to be higher than N100 million

Exponental: Does it mean[b] Dangote[/b], Mike Adenuga, Femi Otedola n d likes dont earn salaries? Or is d op trying to tell us dat d writer cannot fix theirs or it's outrageous?
Abeg, I dont want to worry, my time will come long before my death!

Don't go there, Dangote's dividend from Dangote Sugar in 2011 was N7 billion

boneruns: This figures are not true. I know Senior Managers earn circa 20million per annum in banks. Then compare with GMs, EDs and CEOs.

Also, no bank will disclose the actual take-home pay of their top executives.

Those figures seem to be done by guessing.

The figures can be found in the company's annual report, but it does not include certain benefits, allowances and privileges. Can you evr believe that Tony did not earn N40 million when he was the CEO of UBA.

orgasticdance: this is sorta pathetic to be honest. u selll ur soul to a company doing idioti.c drudgery for someone else ( capital owners, shareholders) for 20+ yrs and u still cnt crack a billion(10m usd) a year. y bother. a slave is still a slave sha. better to run or own show where the possibilities are limitless with a combination of smart hardwork and luck.

That is very true, but everybody can not be an entrepreneur. Being an entrepreneur does not mean you are more financial independent than your so called executive slaves.

okito: I do not completely agree with this. MDs of oil producing companies earn well over 1M dollars per annum. I know this for sure! So if the list is properly compiled, only the stanbic lady stands a chance of being in the top 10 (assuming the figures are correct).

Most of the Oil producing companies are not listed on the exchange, therefore it will not be easy getting relevant information from them.

jp philips:
@sagamite, 17m annually is everywhere open your eyes

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?

scobaba:
Sagamite I understand how you feel about that line. I also felt like you some 9months ago until I got my employment letter in one of the top 5 6months ago..............and everything changed.

That figure is reaaaaaaaaaaal.

Really?

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

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

Jarus:
There are actually 10m in the energy sector. 2 or 3 IOCs pay more than 10m at entry level.

How is that structured?

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?

not structured any specially. Total annual pay (exclusive of bonus which could even be as high as 1m), not tied to anything. As in, annual pay 10m plus for entry level. Chevron pays 21-24m pa for 2nd level (3-5 years experience), I have friends there. Do the math for entry level. Shell was paying about 7m for entry level far back 2008. Inflation and other adjustments, it can't be less tha 10m today

Jarus: not structured any specially. Total annual pay (exclusive of bonus which could even be as high as 1m), not tied to anything. As in, annual pay 10m plus for entry level. Chevron pays 21-24m pa for 2nd level (3-5 years experience), I have friends there. Do the math for entry level. Shell was paying about 7m for entry level far back 2008. Inflation and other adjustments, it can't be less tha 10m today

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.

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.

Bros, it is real. It is true. This is first-hand experience. I don't work for IOC, I work for a relatively small player in the industry, I have 5 years experience in the industry, and my total annual pay is well above 10m. And bonus is not even included. My company is not even an IOC and doesn't have the assets (and profits of IOCs).

Bros, it is real. I don't know how else to explain to you again. If an IOC spends N10 billion as staff costs in a year, it is a drop in an ocean. Guy, it doesn't significantly affect bottom line.

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.

These may answer some of your questions.


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



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

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.

U never jam. That's why everybody wants to work in an 'oyel' company na. Biiiig bucks for mostly small work. The gravy train may be coming to an end as iocs continue to scale down operations

oyb:

U never jam. That's why everybody wants to work in an 'oyel' company na. Biiiig bucks for mostly small work. The gravy train may be coming to an end as iocs continue to scale down operations

That is very true, my younger brother who has 10 years experience in one of the IOCs confirmed this.

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.

You remind me of someone on this very forum, whom I sabi wella.
Working in a very blue chip environment sef, in the UK.
One of the oil majors breathed his way, and he 'forgot' himself, and reported in Lagos sharply!

Come to think of it, I never see am around these parts in a while.
[size=3pt]Obviously na those of us wey no dey peel better cash dey hang out for NL[/size]

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.

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 ,( 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? 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

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 ,( 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? 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

Hun.....Deep sigh
which way

victorD3: You just went to your village in ijebu just to dig out your Yoruba names. Stupid tribalist.

ua simply a f.oool