₦airaland Forum

Gerrard59:
We know that in Nigeria, most students and parents alike choose certain courses and career paths based on how lucrative it is. At JarusHub, we understand this. Based on this, we chronicle career paths we believe you get into and live a comfortable life (Rich is subjective). However, you’ll need to understand the trade-off between earning more and having a life outside work.

Whatever the reason, you’ll need to understand that a well-paid job comes with a price and that price is normally your free time or the amount of stress that you receive. That room full of money won’t be much comfort if you return home at midnight every weekday and only have time to cook Indomie or drink Garri. Also remember that many of the highest-paying professions will be in Lagos, Abuja and Port-Harcourt; which are amongst the most expensive places to live in the land. However, if you’re saving-savvy and know how to get around on the cheap, you may be able to mitigate the higher cost of living.


1. Investment Banking/Private Equity

Investment banking and private equity typically offer one of the highest salaries out there at entry level and are likely to provide a package of perks that could include health insurance, certification fees, profit sharing, children education fees, company cars and various discounts. The trade-off is that long days in IB and PE are the only days in your career and there is a high level of competition for positions. You will work hours that will make you arrive home late. Expect nerve breaking deadlines on modelling of charts and intense research that could keep you till midnight at the office. Additionally, the lack of free time may shrink your social circle to only include others working in the industry.

Top Investment Banking and Private Equity Corporations in Nigeria include: FBN Quest, Meristem Securities, Africa Capital Alliance, Actis Capital, Carlye Group, Abraaj Group, StanbicIBTC Capital, Cardinal Stone, Chapel Hill Denham, Vetiva Capital Management, etc.



2.Oil & Gas: The oil and gas industry offers one of the highest monetary perks, packages, bonuses and privileges in Nigeria. With salaries (before tax) starting from N300, 000 to N1,000, 000 monthly. The pay depends on the firm and the “stream” (up, mid or downstream) it belongs to. This further increases if you are posted to offshore operational sites. Although, the industry within the past years has had a lull because of low oil prices. However, things look to be changing as the price increases gradually. Trade-off: Long hours depending on the department, far away from family and friends and limited time for extra-curricular activities.

Top firms in the industry include: ExxonMobil, Royal Dutch Shell, Oando, Addax, Halliburton, Saipem Nigeria, Conoil, Forte Oil, Seplat etc.




3. Management Consulting/Auditing: The benefits: Management consultants and accountants tend to enjoy varied work and early responsibility alongside abundant employee perks, bonuses, car loans and accommodation allowance. However, workloads can fluctuate during certain periods of the year, with intense busyness and tight office schedules. Pay is good and varies across firms. With entry level salaries starting from N2.5 million annually depending on the firm and niche of consulting. Expect very long hours and travelling at the shortest interval.

Top Consulting firms include: McKinsey and Company, PwC Nigeria, Accenture, Phillips Consulting, KPMG Nigeria, Boston Consulting Group, Grant Thornton Nigeria etc.




4. Medicine: The benefits: Guaranteed employment and respect amongst the public. Medicine is a noble profession. Doctors are well paid especially in federal hospitals as a result of the Consolidated Medical Salary Scale – CONMESS. With entry level salaries starting from N195,000 – N220, 000 monthly. Earnings at private hospitals differ depending on the workload, state of residence, prestige of the hospitals etc. Earnings are further increased when working with multinational organisations such as UNICEF, WHO, NGOs such as Médecins Sans Frontières and the Red Cross. Certain medical fields pay higher, e.g. Radiology. As you specialise further, invariably, the pay increases. Yes, you might not be a(n) Dangote or Otedola as a doctor. But expect to live comfortably, as you will be able to afford life’s necessities at least. However, expect calls during emergencies, which could majority of the time come up at odd hours.

Top hospitals include: National Hospital Abuja, Reddington Hospital, VI, Federal Teaching Hospitals, LASUTH etc.



5. IT/Telecoms: The benefits: an IT career offers you the chance to work with cutting edge technology and to be part of an industry that is constantly changing. You get to create things or be part of teams producing new technologies. Entry level staff can get N110, 000 - N200, 000 monthly depending on the company and niche operated. The downside is that, particularly in IT consulting, but also with companies with multiple sites, you may have some long commutes around the country and may be away from home during the week. This might impact on your home and social life.

Top IT/Telecoms firms include: MainOne, Interswitch, Google Nigeria, MTN Nigeria, Facebook Nigeria, IHS Towers, Huawei Nigeria, Ericsson Nigeria, Globacom etc.



6. Pharmaceuticals: The benefits: A career as a pharmacist affords one with great opportunities. As a pharmacist, salaries can start from N80, 000 – N200, 000 monthly. You can also delve into community pharmacy or become a sales representative or a manufacturing personnel for a pharmaceutical company (the likes of GSK Nigeria, JUHEL, Emzor, M&B etc.). Pharmacy, which is only offered by less than 20 accredited universities by the Pharmaceutical Society of Nigeria. The country has less than 20, 000 registered pharmacists, and this offers a less crowded and lucrative industry to entrants. Compared to other high paying fields, this offers less working hours and better work-life balance. However, expect to travel more if you work as a sales rep.

Top pharmaceutical firms: Emzor, GSK Nigeria, HealthPlus, Swiss Pharma, Orange Drugs, Ranbaxy Nigeria, May and Baker, Evans Medical etc.


7. Commercial Banking: Benefits: More predictable working hours. Pay varies across firms and services offered. Starting salaries for core staff after training can range from N130, 000 – 250, 000 monthly across various financial institutions. Generally, jobs in commercial banking and allied financial services are relatively stable positions with shorter working hours than those in investment banking and private equity. However, deadlines and meeting targets are rampant in the industry, it provides more work-life balance than IB/PE, with less pay.

Top commercial and finance related institutions: First Bank Nigeria, GTB, Access Bank, UBA, etc.


http://www.jarushub.com/7-industries-and-career-fields-for-comfortable-living-in-nigeria/

What are the different IT branches and which is more lucrative in Nigeria

Try reading it like 5 times through, if after that you still don't get it then I am sorry I can't help your situation.

shankara7:
You didn't make any valid point. Are you aware?

Raiyell:
Praise be to the internet and freelancing.

I don't have to earn the shitty pay listed above when I can earn dollars and gather enough capital to bankroll my professional dreams by writing.

Pls, teach me.

[quote author=Raiyell post=64617229]Praise be to the internet and freelancing.

I dont mind learning ooooo bros

Gerrard59:
Certainly, not all doctors are not very rich, but most live a comfortable life. Yes, you need money to live a comfortable life, but not as you put it. Which is why the article uses the word comfortable as opposed to rich

.


"If and when they get paid" is missing in that statement of fact


.

Agriculture/manufacturing sector pay more than all this sectors and guaranty a lot of retirement benefit and u become self reliance b4 retirement.

You don't want to miss this

tensazangetsu20:
Many doctors don't even live a comfortable life. My mom is a consultant paediatrician and I know what am talking about. It's hell getting housemanship now and it's even worse hell getting a place for residency. There are so many underemployed doctors earning crumbs. Forget the hype, the reality in the streets is different.

Whenever I see people hyping doctors, lawyers, bankers etc, I just smile. Nigerians are too carried away with packaging to see the reality The only time people in those fields make mega bucks is when they work with big firms. The average lawyer in a modest chambers gets about 50k allowance monthly. Hawk bread with a nice suit in this country and suddenly hawking bread becomes prestigious

Tbeiz:
Please also take out Telecoms, the sector is no longer viable as the Chinese (Huawei) have taken over as the major vendor for MTN, 9jamobile and Airtel,paying far less than industry standard. More so , almost every personnel is employed as per contract basis , with no benefits whatsoever.
Ericsson, is no longer a major player in the Nigerian market , speaking from experience here.

could you elucidate pls?

AkamAloRaphIk:
I d expect to see Laboratory medicine within the top three on the list. Even without government employment, a lab scientist makes cool mula as a private practioner.

medical laboratory science/technology and science laboratory technology et al, might get easy access to employment but I don't really know microbiologists or do you?

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ItzEminence:
Especially Law...
to find a really good job with Law cert is really hard in Nigeria now.
most of them are working in a private chambers that are not paying that much

This bitter truth breaks my heart anytime I see it . I'm actually at the peak of my sojourn to becoming a lawyer (law school) qnd I have taken my time to research about career opportunities even as far back as 200l. To be candid if not for my brother and some peeps, I might have even opted out when I heard the crap most of these private law firms pay junior lawyers. Before anyone question my passion for the profession, apart from military, my "Passion" has always been to become a lawyer: A Human Rights activist, so I thought.

I'm not letting that discourage me anyway as I'm putting my very best efforts to graduate excellently from law school here and I'm putting in for some professional exams already like ICAMA, CIPM, Chartered Sectary among others.

So my brother you're not lying at all, private practice isn't easy especially if you or your father is a nobody who can set you up, however I believe if you can persevere and join the big boys up there, you're made forever.

I'm so rooting for cooperate work after here, I can venture into litigation subsequently.

seunny4lif:
Airport worker
Cleaners at MM1 makes more than 200k per month

pls can you link me up with this job am very interested thanks.

Informative thread.

You may even find this post helpful on the list of industries you'll find in Nigeria.

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LegitBoy:
This bitter truth breaks my heart anytime I see it . I'm actually at the peak of my sojourn to becoming a lawyer (law school) qnd I have taken my time to research about career opportunities even as far back as 200l. To be candid if not for my brother and some peeps, I might have even opted out when I heard the crap most of these private law firms pay junior lawyers. Before anyone question my passion for the profession, apart from military, my "Passion" has always been to become a lawyer: A Human Rights activist, so I thought.

I'm not letting that discourage me anyway as I'm putting my very best efforts to graduate excellently from law school here and I'm putting in for some professional exams already like ICAMA, CIPM, Chartered Sectary among others.

So my brother you're not lying at all, private practice isn't easy especially if you or your father is a nobody who can set you up, however I believe if you can persevere and join the big boys up there, you're made forever.

I'm so rooting for cooperate work after here, I can venture into litigation subsequently.

LegitBoy:
This bitter truth breaks my heart anytime I see it . I'm actually at the peak of my sojourn to becoming a lawyer (law school) qnd I have taken my time to research about career opportunities even as far back as 200l. To be candid if not for my brother and some peeps, I might have even opted out when I heard the crap most of these private law firms pay junior lawyers. Before anyone question my passion for the profession, apart from military, my "Passion" has always been to become a lawyer: A Human Rights activist, so I thought.

I'm not letting that discourage me anyway as I'm putting my very best efforts to graduate excellently from law school here and I'm putting in for some professional exams already like ICAMA, CIPM, Chartered Sectary among others.

So my brother you're not lying at all, private practice isn't easy especially if you or your father is a nobody who can set you up, however I believe if you can persevere and join the big boys up there, you're made forever.

I'm so rooting for cooperate work after here, I can venture into litigation subsequently.

LegitBoy:
This bitter truth breaks my heart anytime I see it . I'm actually at the peak of my sojourn to becoming a lawyer (law school) qnd I have taken my time to research about career opportunities even as far back as 200l. To be candid if not for my brother and some peeps, I might have even opted out when I heard the crap most of these private law firms pay junior lawyers. Before anyone question my passion for the profession, apart from military, my "Passion" has always been to become a lawyer: A Human Rights activist, so I thought.

I'm not letting that discourage me anyway as I'm putting my very best efforts to graduate excellently from law school here and I'm putting in for some professional exams already like ICAMA, CIPM, Chartered Sectary among others.

So my brother you're not lying at all, private practice isn't easy especially if you or your father is a nobody who can set you up, however I believe if you can persevere and join the big boys up there, you're made forever.

I'm so rooting for cooperate work after here, I can venture into litigation subsequently.

since its ya passion you are a multibillonaire