[/quote][quote author=jay bee link=topic=768160.msg9778793#msg9778793 date=1324046704]
Surely you don't need big money to do most of the things you've outline in your post.
What guarantees you had even touch any once the big money arrives? Isn't it the same way politicians go about promising this and that before they win election?

The point is worry less about money as a graduate. Hard work usually pays in the end
Graduates should worry more about getting good quality experience rather than the salary they stand to gain.

Mhen, I need big money O. she na my monthly stipend of $1800 I wan from comot give people scholarships ni? how i go survive- na owu go finish me here now, haba.

Your counsel on getting good quality experience is surely strong, there is no gainsaying that fact. And I earnestly thank you for reminding me of hard work; it sure does pay in the long run.

However, it is also not impossible to thread the path of hard work, good quality experience PLUS excellent start-up pay. Yes, few companies offer such opportunities, but the fact remains that such companies exist. Based on our collective findings so far, Total is one of such companies.

T22

Jarus:

I very much agree with jay bee. With honesty, diligence and hard work at the early stages of your career, you will always end up with money irrespective of where you start. Truth is, these extermely paying coys have space for no more 5% of grads for entry level.
Oh, tears!!! This reminds me of Abubakar, one very brilliant small kid in Balle, a village in Sokoto state, few miles away from Niger republic. As his teacher during my NYSC, I was so impressed with that young boy in that village that I wrote a letter to his parent to please ensure they take him to a good secondary in Sokoto township when he completes his primary education and ensures he goes ahead to obtain university. I recommended ABU to them. The boy was very promising.

I hope many of such talents do not go to waste. It can be dolefully melancholic.

tanimola22:

With big money, I can start giving scholarships to those very smart but unfortunate kids like the ones I came across at one of those forsaken villages during my NYSC some years back. I can particularly recall one of them who showed so much promise that, till today, I am still regretting that I could not bring him to stay with my momsi and popsi in Lagos, register him in a better school and generally make him a better person. That boy was a super kid, with talents that surpassed those of many smart kids in the cities. I hope God will forgive me.

With big money, big difference can be made.

Thanks.

T22.

Personally, I welcome any opportunity for young Nigerians to earn big money in their own country. So I'm with tanimola22 on this one.

In Nigeria, most organizations don't pay well, most people have no job, cost of living is high, and government is a permanent loot-ocracy.
With more people in good jobs earning good money, (rather than people taking 40 million of Nigerian naira to so-called 'prestige' institutions like Harvard ), the middle class will grow. This 'big' money will be spent in Nigeria one way or the other, and will empower Nigerians ultimately. A lot of the 'big boys' in O&G are the ones powering indigenous enterprises in that sector now, and creating new jobs for Nigerians.

So, guys, go for Total if you can. .

How much do OND/HND grads earn in total?, just asking. Seems they have so many staff with polytechnic qualification.

tanimola22:


Yeepa, a sister, I guess, you have finished me oooooooooooooooooooooooooooooo. What other confirmation do we need ooooooooooooooooooo. Yeeeeeeee, this is the 4th person wey dey confirm ooooooooooooooo. 11-17 millaaalalala yee. yeah see me dey mix all languages together, Yeeeeeepapapapap TotalllllllllllllTOOOOOOOOOOOOOtttttttttttallll yeeeeeeeeee.


On a more serious note, Total is one of the best places to be. Considering this kinda salary, I don't think many people working as entry level staff in the best of companies in the West earn or command such. I mean, JP Morgan UK pays just 38000 pounds per annum to entry level dudes. RBS currently pays the highest. However, they pay a maximum of 45K Pounds and this money includes every bonus. Others pay less this level, do your research to confirm.

I mean, why did a number of Naijans decide to go and study abroad? No be for better pay or opportunities? Don't we have schools in Niaja?

I thank you all for exposing me or us to this opportunity. My guy with zero abroad qualification is really having a field day with Total. What I went abroad to purshuu, he got that same thing in Nigeria and even sef with just a good XYZ. hahaha. The guy knows how to pass ability tests sha. He also knows how to interview wella. In my opinion, these are skills that beat excellent grades any time. I cannot begin to count former excellent colleagues who lack high level test taking skills or oratory skills or both. They are many in the money houses we call banks in Nigeria earning less than 120k per month and smiling

May God helps us, Amen.

Truly true,
T22

The bold statement above is true but that is only if and only if you are offered employment through the graduate scheme which is very very very competitive and most times not available to Non - EU workers. RBS pays circa £26,000 before tax, that's including all benefits/bonus for Back Office and Middle Office entry level analyst even though you only qualify for those roles with a degree. RBS pays low bonus or nothing at all due to the bail out by the UK gov, they are now focusing on core banking and reducing their businesses in the high risk global banking and markets, so someone working in JPM, GS and ML might even earn more cos those once still give huge bonuses.

11million Naira if for real is like blood money ooo

saxywale:

How much do OND/HND grads earn in total?, just asking. Seems they have so many staff with polytechnic qualification.


The bold statement above is true but that is only if and only if you are offered employment through the graduate scheme which is very very very competitive and most times not available to Non - EU workers. RBS pays circa £26,000 before tax, that's including all benefits/bonus for Back Office and Middle Office entry level analyst even though you only qualify for those roles with a degree. RBS pays low bonus or nothing at all due to the bail out by the UK gov, they are now focusing on core banking and reducing their businesses in the high risk global banking and markets, so someone working in JPM, GS and ML might even earn more cos those once still give huge bonuses.

11million Naira if for real is like blood money ooo   

Yes, you are correct. The graduate scheme competition has been very fierce and interesting too, both in New York and in London and maybe elsewhere; we naija grads are not bad at all at all sha. We are competing well.

Again, you are correct, Total floors all those so called global bb ibs, especially at entry level. Owo eje, ego obara, blood money indeed. ego ego owo owo


T22.

Subscribing¤¤

AjanleKoko:


You're seriously asking that, in a country where oil is 97% of GDP?

lol . . i see your point.I'll rephrase. Apart from the O&G industry what other industry should one consider in regards to high employee compensation? telcoms? How about manufacturing? corps. like Guinness and Nestle seem to be performing strongly in the stock market.

Also,with one year experience,can an individual still be classified as an entry level bound? Or does it all depend on how the individual can sell him/herself ?

Shola2009:

lol . . i see your point.I'll rephrase. Apart from the O&G industry what other industry should one consider in regards to high employee compensation? telcoms? How about manufacturing? corps. like Guinness and Nestle seem to be performing strongly in the stock market.

Also,with one year experience,can an individual still be classified as an entry level bound? Or does it all depend on how the individual can sell him/herself ?

When it comes to entry level, no industry in Nigeria even comes close to O&G in terms of compensation. Most entry jobs don't even pay up to N1m a year. A few financial institutions pay slightly above 1m, most do not. Insurance companies for example. They pay a lousy wage at entry level.

The services industry (IT and telecoms, management consulting) may pay above N1m, but their entry level usually requires some additional qualifications. Maybe masters degrees or specialized certifications. In the case of telcos (operators and service providers), they don't really have a graduate program, but with additional degrees/certifications or experience in a related industry, you can get in for a good wage.

Some of the blue-chip manufacturing coys, like Unilever, British American Tobacco, P&G, Nestle, NB Plc or Guinness, don't really pay above N1m as entry level salary, but they have lots of perks and benefits, as well as guaranteed career progression. Typically, you would be in a management trainee program and could move up the ladder quickly based on performance. Their actual compensation is more conservative than other sectors.

Averagel salary ranges for different sectors would be something like this, for entry level:

Oil and Gas (MNCs, IOCs, service providers) : 6m - 12m (or more in some instances)
Financial Services (Banking, insurance, investment management): 500k -2m
Services (IT, Telecom, Consulting): 500k - 3m. Note: Some MNC service providers in IT and consulting actually pay close to O&G wages for people with specialized qualifications and/or experience. the likes of SAP, MS, Dell, GE, and Accenture.
Manufacturing: 500k - 1.5m.

Now, the issue of experience. I think it goes hand in hand with additional qualifications. If you have, say, 1 year experience with a masters degree, you may get more money than someone with only a Bsc and 1 year experience. As in your negotiations might go much better. Conversely, if you didn't have a masters degree and you had 1 year experience that is very much in demand in that organization, you would likely get more money offered you than someone with a masters degree and no experience.
The oil companies typically go for the degrees, as relevant experience is neither here nor there for them. Unless that experience is very relevant to them, in which case we wouldn't be talking entry level.

Hope this helps.

Shola2009:

lol . . i see your point.I'll rephrase. Apart from the O&G industry what other industry should one consider in regards to high employee compensation? telcoms? How about manufacturing? corps. l[b]ike Guinness and Nestle seem to be performing strongly in the stock market.[/b]

Also,with one year experience,can an individual still be classified as an entry level bound? Or does it all depend on how the individual can sell him/herself ?

Are salaries and returns on stocks correlated in any way?

Teach me something today, my brother. I have been thinking of coming up with a novel idea to wow my finance profs

T22

tanimola22:

Are salaries and returns on stocks correlated in any way?

Teach me something today, my brother. I have been thinking of coming up with a novel idea to wow my finance profs

T22

I think, what he means is, these companies seem to be making good money and should be paying well.

AjanleKoko:

When it comes to entry level, no industry in Nigeria even comes close to O&G in terms of compensation. Most entry jobs don't even pay up to N1m a year. A few financial institutions pay slightly above 1m, most do not. Insurance companies for example. They pay a lousy wage at entry level.

The services industry (IT and telecoms, management consulting) may pay above N1m, but their entry level usually requires some additional qualifications. Maybe masters degrees or specialized certifications. In the case of telcos (operators and service providers), they don't really have a graduate program, but with additional degrees/certifications or experience in a related industry, you can get in for a good wage.

Some of the blue-chip manufacturing coys, like Unilever, British American Tobacco, P&G, Nestle, NB Plc or Guinness, don't really pay above N1m as entry level salary, but they have lots of perks and benefits, as well as guaranteed career progression. Typically, you would be in a management trainee program and could move up the ladder quickly based on performance. Their actual compensation is more conservative than other sectors.

Averagel salary ranges for different sectors would be something like this, for entry level:

Oil and Gas (MNCs, IOCs, service providers) : 6m - 12m (or more in some instances)
Financial Services (Banking, insurance, investment management): 500k -2m
Services (IT, Telecom, Consulting): 500k - 3m. Note: Some MNC service providers in IT and consulting actually pay close to O&G wages for people with specialized qualifications and/or experience. the likes of SAP, MS, Dell, GE, and Accenture.
Manufacturing: 500k - 1.5m.

Now, the issue of experience. I think it goes hand in hand with additional qualifications. If you have, say, 1 year experience with a masters degree, you may get more money than someone with only a Bsc and 1 year experience. As in your negotiations might go much better. Conversely, if you didn't have a masters degree and you had 1 year experience that is very much in demand in that organization, you would likely get more money offered you than someone with a masters degree and no experience.
The oil companies typically go for the degrees, as relevant experience is neither here nor there for them. Unless that experience is very relevant to them, in which case we wouldn't be talking entry level.

Hope this helps.

The highlighted is unfortunately very true for local banks. However, some foreign banks pay as much as twice the least upper bound salary you stated or even more. For instance, Standard Chartered Bank pays its International Graduates roughly 5Milla per annum (4.8 milla actually). The term International Graduate does not necessarily mean someone that graduated from an oyinbo school. It means a graduate of the bank's International Graduate Programme dubbed IGP. The IGP is done yearly; there is one currently on as we speak.

*** I am aware that these are average salaries. I just wanted to state an outlier.

GT actually pay 3m plus for entry level.
Some O&G companies, especially indigenous and downstream operators, also fall way below that 5m minimum cap, some as low as 3m.

AjanleKoko:

When it comes to entry level, no industry in Nigeria even comes close to O&G in terms of compensation. Most entry jobs don't even pay up to N1m a year. A few financial institutions pay slightly above 1m, most do not. Insurance companies for example. They pay a lousy wage at entry level.

The services industry (IT and telecoms, management consulting) may pay above N1m, but their entry level usually requires some additional qualifications. Maybe masters degrees or specialized certifications. In the case of telcos (operators and service providers), they don't really have a graduate program, but with additional degrees/certifications or experience in a related industry, you can get in for a good wage.

Some of the blue-chip manufacturing coys, like Unilever, British American Tobacco, P&G, Nestle, NB Plc or Guinness, don't really pay above N1m as entry level salary, but they have lots of perks and benefits, as well as guaranteed career progression. Typically, you would be in a management trainee program and could move up the ladder quickly based on performance. Their actual compensation is more conservative than other sectors.

Averagel salary ranges for different sectors would be something like this, for entry level:

Oil and Gas (MNCs, IOCs, service providers) : 6m - 12m (or more in some instances)
Financial Services (Banking, insurance, investment management): 500k -2m
Services (IT, Telecom, Consulting): 500k - 3m. Note: Some MNC service providers in IT and consulting actually pay close to O&G wages for people with specialized qualifications and/or experience. the likes of SAP, MS, Dell, GE, and Accenture.
Manufacturing: 500k - 1.5m.

Now, the issue of experience. I think it goes hand in hand with additional qualifications. If you have, say, 1 year experience with a masters degree, you may get more money than someone with only a Bsc and 1 year experience. As in your negotiations might go much better. Conversely, if you didn't have a masters degree and you had 1 year experience that is very much in demand in that organization, you would likely get more money offered you than someone with a masters degree and no experience.
The oil companies typically go for the degrees, as relevant experience is neither here nor there for them. Unless that experience is very relevant to them, in which case we wouldn't be talking entry level.

Hope this helps.

I disagree with the fact that most blue chip companies don't pay up to 1m per year for entry level. I will like to say that all the blue chip companies I know pay far more than 1m year. At least, I know at least six blue chip companies paying fresh grads above 1m per month. I want to believe you made a mistake cos 1m per year is equivalent to less than 85k per month! I joined one of the companies you mentioned on entry level basis and the pay is well above 1m per month. Cheers

@97% GDP

please kindly check your figures very well. Agric is the larger contributor to our GDP at about 40%. Oil is our largest foreign earner but not the largest contributor to our economy/GDP.


Anywayz, this is the most enlightening thread I have seen on NL. Kudos to all contributors, including ofcourse the witty T22.

9jaCrusade:

@97% GDP

please kindly check your figures very well. Agric is the larger contributor to our GDP at about 40%. Oil is our largest foreign earner but not the largest contributor to our economy/GDP.


Anywayz, this is the most enlightening thread I have seen on NL. Kudos to all contributors, including ofcourse the witty T22.

Apologies. I meant to say foreign exchange earner. Thanks.

AjanleKoko:

When it comes to entry level, no industry in Nigeria even comes close to O&G in terms of compensation. Most entry jobs don't even pay up to N1m a year. A few financial institutions pay slightly above 1m, most do not. Insurance companies for example. They pay a lousy wage at entry level.

The services industry (IT and telecoms, management consulting) may pay above N1m, but their entry level usually requires some additional qualifications. Maybe masters degrees or specialized certifications. In the case of telcos (operators and service providers), they don't really have a graduate program, but with additional degrees/certifications or experience in a related industry, you can get in for a good wage.

Some of the blue-chip manufacturing coys, like Unilever, British American Tobacco, P&G, Nestle, NB Plc or Guinness, don't really pay above N1m as entry level salary, but they have lots of perks and benefits, as well as guaranteed career progression. Typically, you would be in a management trainee program and could move up the ladder quickly based on performance. Their actual compensation is more conservative than other sectors.

Averagel salary ranges for different sectors would be something like this, for entry level:

Oil and Gas (MNCs, IOCs, service providers) : 6m - 12m (or more in some instances)
Financial Services (Banking, insurance, investment management): 500k -2m
Services (IT, Telecom, Consulting): 500k - 3m. Note: Some MNC service providers in IT and consulting actually pay close to O&G wages for people with specialized qualifications and/or experience. the likes of SAP, MS, Dell, GE, and Accenture.
Manufacturing: 500k - 1.5m.

Now, the issue of experience. I think it goes hand in hand with additional qualifications. If you have, say, 1 year experience with a masters degree, you may get more money than someone with only a Bsc and 1 year experience. As in your negotiations might go much better. Conversely, if you didn't have a masters degree and you had 1 year experience that is very much in demand in that organization, you would likely get more money offered you than someone with a masters degree and no experience.
The oil companies typically go for the degrees, as relevant experience is neither here nor there for them. Unless that experience is very relevant to them, in which case we wouldn't be talking entry level.

Hope this helps.

Wow . . .thanks a lot. This definitely helps. So it seems it's one of those O&G corps. or nothing. 

Are salaries and returns on stocks correlated in any way?

Teach me something today, my brother. I have been thinking of coming up with a novel idea to wow my finance profs

T22

I think, what he means is, these companies seem to be making good money and should be paying well.

^^That's exactly what i meant.
A strong performance at the NSE indicates increasing consumer confidence towards their brand (Guinness etc.), increase in sales,revenue etc. and would definitely lead to a bumper year-end bonus for their employees, increased dividends for shareholders, etc. At least that's how it should be.

Shola2009:

Wow . . .thanks a lot. This definitely helps. So it seems it's one of those O&G corps. or nothing. 


^^That's exactly what i meant.
A strong performance at the NSE indicates increasing consumer confidence towards their brand (Guinness etc.), increase in sales,revenue etc. and would definitely lead to a bumper year-end bonus for their employees, increased dividends for shareholders, etc. At least that's how it should be.

I see your point. But sorry, Guinness, NB, Nestle etc pay crappy crap!

Indeed, O&G or nothing. Seccoonnddeedd

T22.

Hello Nairalanders,

I have read through most of your posts, and they are quite encouraging and motivating. I am to take a test on the 4th for a leading oil and gas firm, which I believe to be Total.

Please, I beg in the name of God, I need ideas. I know I have to study SHLs, but is there any particular area of concentration?

Thanks in advance.

^^^^^

Is Chams city your centre? Or is it the TOT that is making you suspect that the company is Total?

T22

TOT, I guess. But we are getting the venue details tomorrow.

^^^^

Alright, all the best. You should be fine since you have worked through SHL, Assessment-Day, Kenexa and co.

Even if it's not Total, any O&G is da bomb in Naija. I am sure you knew this.

Do share your good news with us.

T22

Thanks T22, I appreciate your encouragement and concern. Amen, there will be enough good newsssssssssssssses to share. Not just from me.

Sweet dreams.

Being a worker wit one of the IOC it was very interesting reading thru,
i can confirm that u can raen up to 11m per annum wit no experience wat so ever,thats entry level.

What will be the basis for such a high earning, especially considering the fact that there is no experience?

ewds:

What will be the basis for such a high earning, especially considering the fact that there is no experience?

Globally, oil is a high-paying and high revenue-earning industry, so Nigerian IOCs just try to benchmark their pay with global standards.

Experience is irrelevant. Usually they target the best graduates, and get them. The pay is a magnet for attracting the best talent. When you have the best brains working for you, experience is not so important. You can always mold them into anything you want, high-performing staff is the expected result at the end of the day.

IOCs typically shy away from recruiting staff over a particular age or experience level.

Very well said.

I'm still awaiting result from an interview of an "unidentified "leading"" O&G firm in Nigeria organized by Dragnet. I'm a bit anxious cos I'm wondering if it usually takes this long or if (God forbid) I've been kicked out of the process

Muza:

Being a worker wit one of the IOC it was very interesting reading thru,
i can confirm that u can raen up to 11m per annum wit no experience wat so ever,thats entry level.

At first it sounded weird to many forum members, but I am sure that the repeated confirmation has driven it into them that it is indeed possible to earn that much, even without the so called 10 years work experience.

One just has to be lucky to join them there. And I completely agree with @AJ when he says that the best way to attract the most competitive people is to offer great pecuniary incentives. That is why, for example, American graduate schools (PhD) have the most competitive students the world can boast of. Not even the whole European schools put together can stand them. Just in case someone wants to debate this, I have proofs to back up my claim(s).


May He help us.

T22.

Wow money is good o. So people earn this big, imagine an entry level getting 11m, hmmm very very good indeed. That about what a coordinator earn in my org. But seriously, development organisations are not doing badly either although it's a rather quiet sector and you won't hear anybody mentioning them among well paying sectors, maybe it's because there are so many small NGOs that are trying to survive. Working for development agencies like UN, WHO or USAID, Global fund, DFID etc supported projects can be rewarding, although employment is sometimes tied to the lifespan of the program. Average earning of Program Officers with 1-2years is btw 4.5m-5.5m depending on the organisation but I'm sure UN and few others pay much higher.

^^^^

That is impressive. How long does it take to become a coordinatorß

This depends on a number of factors:

1)organisation structure/rate of promotion- some organisation has so many reporting levels while others have fewer level. In my org, with a steady rise, a Coordinator's position could be attained in  10-12years and above.

2)One common trend with development work is that people move a lot, hopping from one project to another for an higher position/pay. This could be as a resulf of the completion/life span of a project; moreso some organisations don't have the culture of retaining their staff or redeploying them to a new project. So the lucky ones who get higher positions consecutively could be coordinator in 8 years. There are cases where someone is a manager on project A but few years after accepts appointment as Program officer on Project B.

3) Size of the project/coverage: Programs vary in size; it may be nation wide, a particular zone or in specific state. Due to differences in program design, the title attached to positions vary. While a Coordinator in my org is a very high position next to Director, a Coordinator in another org may be manning just a state or coordinating a very small project.

^^^^

Good. Hope people will be patient enough sha.

ewds:

What will be the basis for such a high earning, especially considering the fact that there is no experience?

Like AJ said, just try to get employed by passing thru their rigorous tests and interviews, thats the only basis, not even a single day of experience needed.