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What Does Consolidated Salary Actually Mean - Career - Nairaland

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What Does Consolidated Salary Actually Mean by tizzdi(m): 11:59am On Mar 01, 2019
good day guy, please concerning the aforementioned, who has an idea what it actually mean?..i was told that for instance if someone retires as lets say head of civil service or something like the IG of police, thats the person collects his basic salary for life!..pls is this true?
Re: What Does Consolidated Salary Actually Mean by sunbreaker: 11:06am On Mar 02, 2019
tizzdi:
good day guy, please concerning the aforementioned, who has an idea what it actually mean?..i was told that for instance if someone retires as lets say head of civil service or something like the IG of police, thats the person collects his basic salary for life!..pls is this true?
all allowance inclusive

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Re: What Does Consolidated Salary Actually Mean by tizzdi(m): 2:11am On Mar 03, 2019
sunbreaker:
all allowance inclusive
wow!..how sure are u sir?...more inputs from others would be highly appreciated
Re: What Does Consolidated Salary Actually Mean by tizzdi(m): 6:11pm On Mar 03, 2019
haaa no anwers? or is this not the right secrion or?
Re: What Does Consolidated Salary Actually Mean by tizzdi(m): 7:06pm On Mar 04, 2019
nawa o
Re: What Does Consolidated Salary Actually Mean by Authoreety: 1:06pm On Mar 05, 2019
It means SALARY earned for CONSOLIDATION



Dazzol

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Re: What Does Consolidated Salary Actually Mean by chinavs9ja(m): 1:07pm On Mar 05, 2019
Consolidated pay or salary a person is offered is the amount a person gets for the work done, on monthly/weekly/ basis. It consists of all the entitlements joined together, without specifically stating any breakups.

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Re: What Does Consolidated Salary Actually Mean by teekay213(m): 1:08pm On Mar 05, 2019
For what now?
Re: What Does Consolidated Salary Actually Mean by Nobody: 1:08pm On Mar 05, 2019
.
Re: What Does Consolidated Salary Actually Mean by TIGRITIS: 1:08pm On Mar 05, 2019
I'm here to learn from experts.
Re: What Does Consolidated Salary Actually Mean by Vivuch: 1:09pm On Mar 05, 2019
tizzdi:
good day guy, please concerning the aforementioned, who has an idea what it actually mean?..i was told that for instance if someone retires as lets say head of civil service or something like the IG of police, thats the person collects his basic salary for life!..pls is this true?
it mean the total amount of what you earn before tax, vat etc are deducted.

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Re: What Does Consolidated Salary Actually Mean by id4sho(m): 1:09pm On Mar 05, 2019
Tell us you've gotten a job joor

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Re: What Does Consolidated Salary Actually Mean by Timekeeper: 1:10pm On Mar 05, 2019
... All of you above are olodo

Consolidation from console.
Salary

So consolidated salary mean salary giving to console people who had lost any of their family member.


Salary to console (consolidated salary )

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Re: What Does Consolidated Salary Actually Mean by Jason007: 1:10pm On Mar 05, 2019
consolidated salary means the amount you get without any perks or allowances. it is the fixed salary irrespective of target achieved or performance criteria etc. means you'll surely get 15,000 naira and rest above depends on your work and performance.

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Re: What Does Consolidated Salary Actually Mean by TIGRITIS: 1:10pm On Mar 05, 2019
Vivuch:
it mean the total amount of what you earn before tax, vat etc are deducted.
I think that is gross pay, as opposed to net pay.

What is consolidated salary?

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Re: What Does Consolidated Salary Actually Mean by kevoh(m): 1:12pm On Mar 05, 2019
It's actually a get-out-of-jail-free word for employers.

It usually is the total sum of your basic salary and allowances (like transport, meal e.t.c) that you should get for that month.

But here is the tricky part because it has been called consolidated an employer can choose to pay you 50k for example and not add any allowance but will still call it consolidated salary. While a fair employer might say your basic salary is 50k and your allowances on the job is 63 k making your consolidated salary for that month be 113k (assuming no deductions like tax are made).

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Re: What Does Consolidated Salary Actually Mean by Oblongata: 1:17pm On Mar 05, 2019
Consolidated salary has no bifurcations; you get all your allowances once...
E.g

If your basic salary is 100k

Your transportation allowance is 15k

Your house allowance is 20k

Clothing allowance is 5k

Feeding allowance is 20k

Your consolidated salary is 100+15+20+5+20=160k.

It is the same as gross salary

It is the addition of all allowances and basic salary

Income tax and all other deductions is yet to be deducted. If deducted, it becomes 'net salary'

Shalom!

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Re: What Does Consolidated Salary Actually Mean by SpaceAngel: 1:17pm On Mar 05, 2019
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Re: What Does Consolidated Salary Actually Mean by ictjobber: 1:17pm On Mar 05, 2019
Following

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Re: What Does Consolidated Salary Actually Mean by Apelex(m): 1:18pm On Mar 05, 2019
tizzdi:
good day guy, please concerning the aforementioned, who has an idea what it actually mean?..i was told that for instance if someone retires as lets say head of civil service or something like the IG of police, thats the person collects his basic salary for life!..pls is this true?

In the civil service. When you are on a consolidated Daley scale.ir means all your allowances wud be added and paid with your regular salary.

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Re: What Does Consolidated Salary Actually Mean by bluecircle470: 1:19pm On Mar 05, 2019
tizzdi:
good day guy, please concerning the aforementioned, who has an idea what it actually mean?..i was told that for instance if someone retires as lets say head of civil service or something like the IG of police, thats the person collects his basic salary for life!..pls is this true?

This applies to all civil servant and public servant after reaching the mandatory age of 60 years old or 35 years of service.
Re: What Does Consolidated Salary Actually Mean by chymeze: 1:20pm On Mar 05, 2019
...

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Re: What Does Consolidated Salary Actually Mean by Nobody: 1:21pm On Mar 05, 2019
Your title is different from your question. Are you a police woman or daughter of the IG or you want to know what consolidated salary mean
Re: What Does Consolidated Salary Actually Mean by OMEGA009(m): 1:27pm On Mar 05, 2019
chymeze:
...

If you already knew the answer, why bother us with the question? Overskill.

1 Like

Re: What Does Consolidated Salary Actually Mean by smeag0l(m): 1:28pm On Mar 05, 2019
The title of your post and what is in the body are contrasting.Consolidated salary means your gross salary(including all your fixed allowances) in simple terms. It does not include bonuses you get as a result of performance, cost savings for your company etc. It may or may not be your taxable income depending on whether your fixed monthly allowances are taxed or not. On the question of retirement for civil servants, what they get as monthly pension is a percentage that is close to their basic salary and in some instances, the entire basic salary depending in the level you retire on. It is applicable in several other companies too.
tizzdi:
good day guy, please concerning the aforementioned, who has an idea what it actually mean?..i was told that for instance if someone retires as lets say head of civil service or something like the IG of police, thats the person collects his basic salary for life!..pls is this true?

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