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The Hard Truth About Your Salary - Career (5) - Nairaland

Nairaland ForumNairaland GeneralCareerThe Hard Truth About Your Salary (59779 Views)

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Re: The Hard Truth About Your Salary by aariwa(m): 4:15pm On Dec 03, 2015
hahn:
I got this from facebook and thought it is worth sharing



Source: https://m.facebook.com/story.php?story_fbid=10208363981207537&id=1545267988
Re: The Hard Truth About Your Salary by AngryNigerian(m): 4:19pm On Dec 03, 2015
Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.
I believe you die...

He also forgot to mention anything about the pension scheme, NHF, NHIS, & other deductions...

He also forgot to mention how they come late to work, don't come @ all or take incesant permission, pass & different types of leave...my LG worker neighbour no go work pass 1 month last year; like say she spent the whole year on maternity leave!
Re: The Hard Truth About Your Salary by ttmacoy: 4:20pm On Dec 03, 2015
Spot on.

And this is ignoring the fact that it will probably take some years for the entrepreneurs to build their business and have such steady revenue which at that time the bankers or other workers will not still be earning entry level pay.

Entrepreneurship is good for those who have the skills and ability for it, but it is wrong to give the impression that every entrepreneur is successful or wealthy. Many entrepreneurs make it and many don't same as many white collar types make it and many don't.

Also pushing everyone into entrepreneurship is very bad for the future of the country as critical areas such as science, medicine etc are ignored as everyone pursues money through business.

Many so called entrepreneurs in Nigeria have the wrong mindset as it is all about the money with no passion for service or desire to make a difference. Successful entrepreneurs are not just motivated by money but by the impact they can make in their chosen market.

Some people her eon nairaland also seem to have this impression that owning your business means you can sleep late and work whenever you want. Hell no, you work when your customers need you to work if not you go out of business. Owning your business brings about increased risks and requires a lot of work to build the business.
Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.
Re: The Hard Truth About Your Salary by eleshin(m): 4:23pm On Dec 03, 2015
And if we all become Enterpreneur how do we now get employees?
Re: The Hard Truth About Your Salary by Rockstar2014(m): 4:26pm On Dec 03, 2015
An what is your insinuation OP that all salary earners should resign and be self employed? note however that success through wealth is sometimes not all about how much you make but about how much you can save out of the little you earn or make. I know of so many salary earners who have built their own houses and train their children and wards in higher institutions, so people should not be misled by this kind of post. My view though.
Re: The Hard Truth About Your Salary by mustybobo(m): 4:26pm On Dec 03, 2015
Dear poster, divide d pay by 30 means yew work on wknds
Re: The Hard Truth About Your Salary by adegeye38(m): 4:27pm On Dec 03, 2015
Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.
what you just typed is all bullshit, my mum makes close to 200,000 as a level 15 officer working on a govt job that an average of 6000 per day if divided by 30 and 10000 per day if divided by 20 but the monthly 200,000 remain dsame, and she works 7 hours daily monday to friday

Now I, as an undergraduate i work in the transport business and i earn an ever sure 8000 naira per day after paying my assistants and working for around 7 hours also 6 days a week, and due to the fact that i still live with my family i tend to save each moneyvi make per day in the bank, that about 50000 per week, and about 208,000 per month and my monthly earnings have never been less than195,000 per month before and am in full control of my business and i earn more than my parents who have been working in the civil service for about 25 years.

Nigeria is a gold mine graduates and youths arent just willing and always myopic to see it they are thousands of ways to make it without waiting or looking for a white collar job around.
Re: The Hard Truth About Your Salary by MrSmith007: 4:30pm On Dec 03, 2015
I hope yu know these business men dont make this turn overs everyday..

Some days are really bad, dey go home without a dime.
I get yur point.. diversify yur income and all dat. But if you look closely, those civil servants, bankers live better lives compared to the 'average' business man.
Re: The Hard Truth About Your Salary by wytecat: 4:33pm On Dec 03, 2015
Timely and accurate! Let some sit and wait for N5,000 while those with dreams have doors of business capital loans opened to them.

Bookmarked for future reference.
Thanks Op!
Re: The Hard Truth About Your Salary by Nihilist: 4:34pm On Dec 03, 2015
adegeye38:
what you just typed is all bullshit, my mum makes close to 200,000 as a level 15 officer working on a govt job that an average of 6000 per day if divided by 30 and 10000 per day if divided by 20 but the monthly 200,000 remain dsame, and she works 7 hours daily monday to friday

Now I, as an undergraduate i work in the transport business and i earn an ever sure 8000 naira per day after paying my assistants and working for around 7 hours also 6 days a week, and due to the fact that i still live with my family i tend to save each moneyvi make per day in the bank, that about 50000 per week, and about 208,000 per month and my monthly earnings have never been less than195,000 per month before and am in full control of my business and i earn more than my parents who have been working in the civil service for about 25 years.

Nigeria is a gold mine graduates and youths arent just willing and always myopic to see it they are thousands of ways to make it without waiting or looking for a white collar job around.
You are an undergraduate working 7hours a day, 6 days a week...

Are you actually studying at all? cheesy

Anyway, all you've done is tell me that you are running a successful business. I don't know how true it is, but congratulations all the same.
You must remember that just because a business is running smoothly for you doesn't mean it's the same for everybody else out there...
Re: The Hard Truth About Your Salary by asatemple(f): 4:34pm On Dec 03, 2015
In that case, me that is jobless for more than one year now should go and die. Bros at all at all. Na witch, forget
Re: The Hard Truth About Your Salary by arabianights: 4:35pm On Dec 03, 2015
dearpreye:
I visited a supermarket last week and heard the owner tell his son to grow up and become a banker. I shook my head and politely asked the man to tell his son to grow up and employ many bankers. The son's mother gave me a warm handshake. That's the new spirit.

The era of going to school with the sole aim of becoming an employee is long gone. We need more job creators these days.

While I know not everyone's got the knack and courage to be an entrepreneur, emphasising it will certainly create more of them.
Most people really want to be entrepreneurs but fear of the unknown and the lack of focus or foresight as well as well as fear of failing is stopping them
Re: The Hard Truth About Your Salary by mfm04622: 4:37pm On Dec 03, 2015
hahn:
I got this from facebook and thought it is worth sharing



Source: https://m.facebook.com/story.php?story_fbid=10208363981207537&id=1545267988
I have some issues with the op.

1) in paid employment, your salary is guaranteed! Not so for a self employed person. The days H is ill, no income, the day it rained too much, no income! The say his work tools break down, less/no income! 2) in paid employment, your salary is guaranteed, not so for th self employed person. You can't be sure you will make a certain amount in the day! 3) in Paid employment, you grow. You get promotion or move to another job. Your ability to earn increase with your experience. Not so for the self employed. Yes, if you are exceptional, you can charge a premium but the premium can't be too high or you won't get business. For example, my 1st job was 18k per month 14 years later I earn nearly that everyday
Re: The Hard Truth About Your Salary by Drdonzeez(m): 4:37pm On Dec 03, 2015
How can a grade level 12 officer earn 60k in a month?
Re: The Hard Truth About Your Salary by Tonel09(m): 4:38pm On Dec 03, 2015
Pidggin:
Knowing your salary will be paid at the end of the month helps you plan unlike in business where you cannot tell.
.... Supported
Re: The Hard Truth About Your Salary by Nobody: 4:41pm On Dec 03, 2015
arabianights:
Most people really want to be entrepreneurs but fear of the unknown and the lack of focus or foresight as well as well as fear of failing is stopping them
That's true.....Unfortunately if they must achieve their dream success, they must try even in the face of fear. Their passion must be greater than their fears. When people aren't too sure of their lives and purposes, then fear and uncertainty step in.

At the moment, I've identified some business I'm willing to risk in come 2016. And I'm currently doing all the feasible studies. I'm willing to risk failure BUT 2015 is the LAST YEAR of living paycheck to paycheck. I'm willing to FAIL.
Re: The Hard Truth About Your Salary by otunba88(m): 4:48pm On Dec 03, 2015
We wey never get job nko? Wetin make we do, abeg I'll manage the 120k average salary for a banker...biko!!
Re: The Hard Truth About Your Salary by adegeye38(m): 4:49pm On Dec 03, 2015
Nihilist:
You are an undergraduate working 7hours a day, 6 days a week...

Are you actually studying at all? cheesy

Anyway, all you've done is tell me that you are running a successful business. I don't know how true it is, but congratulations all the same.
You must remember that just because a business is running smoothly for you doesn't mean it's the same for everybody else out there...
am just trying to change your perception about business and entrepreneurship and yes, am studying and i also find a way to combine both perfectly
Re: The Hard Truth About Your Salary by Onlymewakacum(m): 4:50pm On Dec 03, 2015
hahn:
I got this from facebook and thought it is worth sharing



Source: https://m.facebook.com/story.php?story_fbid=10208363981207537&id=1545267988

Re: The Hard Truth About Your Salary by vislabraye(m): 4:52pm On Dec 03, 2015
hahn:
I got this from facebook and thought it is worth sharing



Source: https://m.facebook.com/story.php?story_fbid=10208363981207537&id=1545267988
Entrepreneurship is the way forward, however I don't absolutely agree with the examples you gave. Those people you mentioned like truck drivers, earning better and so on is not the whole truth. It is seasonal and with the way government is today, it's not as buoyant as before.
Good article though.
Re: The Hard Truth About Your Salary by hahn(op): 4:52pm On Dec 03, 2015
mfm04622:
I have some issues with the op.

1) in paid employment, your salary is guaranteed! Not so for a self employed person. The days H is ill, no income, the day it rained too much, no income! The say his work tools break down, less/no income!

2) in paid employment, your salary is guaranteed, not so for th self employed person. You can't be sure you will make a certain amount in the day!

3) in Paid employment, you grow. You get promotion or move to another job. Your ability to earn increase with your experience. Not so for the self employed. Yes, if you are exceptional, you can charge a premium but the premium can't be too high or you won't get business. For example, my 1st job was 18k per month 14 years later I earn nearly that everyday
You forget that entrepreneurs are ones that guarantee income to employees. I am also an entrepreneur and it's not easy really.

I agree with your points though.

But I'd like to ask, will you give up your business for guaranteed monthly salary?
Re: The Hard Truth About Your Salary by Onlymewakacum(m): 4:53pm On Dec 03, 2015
asatemple:
In that case, me that is jobless for more than one year now should go and die. Bros at all at all. Na witch, forget
I feel your pain jor.
Re: The Hard Truth About Your Salary by warrior101: 4:57pm On Dec 03, 2015
Something doesn't sound right about this. For example, In the light of the subject, the graduate is an arm of govermrnt so does it mean the private workers must consider helping them too as much as they are helping the government?

hahn:
I got this from facebook and thought it is worth sharing



Source: https://m.facebook.com/story.php?story_fbid=10208363981207537&id=1545267988
Re: The Hard Truth About Your Salary by manie(m): 4:58pm On Dec 03, 2015
MattChidi:
This got me thinking. . .entrepreneurship is the key.
it is the key, employers also want to employ workers with entrepreneurial drive and mindset, by so doing small businesses will grow to big businesses and multinationals.
Re: The Hard Truth About Your Salary by Nihilist: 5:00pm On Dec 03, 2015
adegeye38:
am just trying to change your perception about business and entrepreneurship and yes, am studying and i also find a way to combine both perfectly
You haven't at all.

By your own admission, you still live at home to cut costs; which leaves me to wonder what other aspect(s) of your business are subsidised.

Judging by your profile picture and all the other things you mentioned, I don't think I'll be wrong in assuming that the capital for your 'business' wasn't self-generated.

I may well be wrong...but I seriously doubt it

8k a day works out at just under 200k. Without any idea of what margin you're working to, your initial layout, and your deviation from projected income, it's difficult to even gauge if your 'business' is actually successful.

Not that I care,mind.

Like I said earlier, if indeed you're telling the truth about your so called business, then congrats to you. My point wasn't that you cannot be successful as a Nigerian businessman. My point was that the OP failed to acknowledge the inherent risks and cash flow problems of entrepreneurship especially at that level, when promoting those kind of businesses over paid employment.
Re: The Hard Truth About Your Salary by vislabraye(m): 5:00pm On Dec 03, 2015
adegeye38:
what you just typed is all bullshit, my mum makes close to 200,000 as a level 15 officer working on a govt job that an average of 6000 per day if divided by 30 and 10000 per day if divided by 20 but the monthly 200,000 remain dsame, and she works 7 hours daily monday to friday

Now I, as an undergraduate i work in the transport business and i earn an ever sure 8000 naira per day after paying my assistants and working for around 7 hours also 6 days a week, and due to the fact that i still live with my family i tend to save each moneyvi make per day in the bank, that about 50000 per week, and about 208,000 per month and my monthly earnings have never been less than195,000 per month before and am in full control of my business and i earn more than my parents who have been working in the civil service for about 25 years.

Nigeria is a gold mine graduates and youths arent just willing and always myopic to see it they are thousands of ways to make it without waiting or looking for a white collar job around.
Good point you have made. Transportation business is lucrative but capital intensive. But government workers get other pecks too which includes runs.
Re: The Hard Truth About Your Salary by manie(m): 5:12pm On Dec 03, 2015
mykel20:
You just spoke my mind. Everybody keeps screaming the word entrepreneur. Many fail to realise that we still need people who practice what they studied. If everyone goes into business who would then be our doctors, lawyers, nurses, Academicians, etc Aliens?? Please note that I am not trying to discredit entrepreneurs, but we need to be realistic, we are losing some of our best professionals to this "Be your own boss" thing.
The doctor and nurse can plan to have their own hospitals, the lawyer can establish a law firm after gaining the neccesary experience, the teacher can plan to have his own school or educational consulting firms. We need more than 1 million entrepreneurs or employees with entrepreneurial drive in Nigeria.
Re: The Hard Truth About Your Salary by folks4luv(f): 5:16pm On Dec 03, 2015
Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.
Add this
I love d analysis and am not a fan of Govt job especially. But d person that made d calculation didn't remember to add that states differ in payment, that a person retired earning 75k will cont to receive at least 65k all Tru his life after he stops working and his family can receive same for like 5 year even after his death, plus gratuity will will be almost 3 million naira.
Also add that a self employed man may b making up to 4k a day, but he may not eat if d guy earning 2k is not paid.
That is d situation of d country now.
The economy is bad, that is the point. I love reality, not trying to explain away things that should b addressed.
Of cos we shud be creative, but if 70 of d population are job creator, who will they employ? One man said if everyone go to sch, who'll be the plumber, d Carpenter, d mechanic? There must b balance.
They told those in sch to learn a trade and those with a trade to go to school, now on one tiny street, u have like 10 fashion designer, pls how will they cope?
Re: The Hard Truth About Your Salary by babadem2much(m): 5:17pm On Dec 03, 2015
gunners160:
Hmm,this is indeed captivating and an eye opener. ABEG MAKE TOPIC LIKE THIS DEY MAKE FRONT PAGE AND NT ALL THOSE TOPICS LIKE: Davido and Olamide who rock the mad jeans beta,Davido sips kunu b4 going to a meeting,Tonto Dike kisses her gay husband etc.Internet should be a positive source of information and not all for all those nitwit topics.
U make sence die ma guy. better n educative threads for positive minded men
Re: The Hard Truth About Your Salary by Raalsalghul: 5:19pm On Dec 03, 2015
Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.
Nice one here! Despite the fact that I agree with the op, you did a good job of countering his arguments. I just wished you could have turned it to a counter-thread.
Re: The Hard Truth About Your Salary by folks4luv(f): 5:19pm On Dec 03, 2015
manie:
The doctor and nurse can plan to have their own hospitals, the lawyer can establish a law firm after gaining the neccesary experience, the teacher can plan to have his own school or educational consulting firms. We need more than 1 million entrepreneurs or employees with entrepreneurial drive in Nigeria.
And if 70% of doctors have there own hospital, 80% of lawyers have a law firm, 60% of teachers are consultants, how will they cope? Where is d balance?
Re: The Hard Truth About Your Salary by manie(m): 5:22pm On Dec 03, 2015
eleshin:
And if we all become Enterpreneur how do we now get employees?
it is not possible for everybody to be an entrepreneur, just the same everybody can never be a landlord. But it will be good if just 5% of the work force are entreprenuers.
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