November 16, 2023

Unlocking the Trends of Salary Satisfaction within the Nigerian Finance Industry

Have you ever wondered what your peers in the finance industry are earning? Do you struggle with negotiating your salary or wonder what you can do to improve your salary satisfaction? If you have, then this is definitely for you.

Have you ever wondered what your peers in the finance industry are earning? Do you struggle with negotiating your salary or wonder what you can do to improve your salary satisfaction? If you have, then this is definitely for you.

We recently launched the 2023 “Finance Salaries In Nigeria: Negotiation Trends and Salary Satisfaction” report which peels back the layers of the financial industry’s salary trends by exploring negotiation habits and salary satisfaction across gender, job titles, and experience levels, among others.

This report, drawn from a survey of 249 finance professionals across diverse sectors in Nigeria, unravels critical insights that can help finance experts redefine their career trajectory.

Key insights include:

  • The intriguing correlation between negotiation comfort and salary bands, where professionals earning 1 million Naira and above per month exhibit the highest negotiation comfort (100%).
  • Surprisingly, as experience grows, satisfaction levels decrease, with only 8.82% of those with 11 to 15 years of experience expressing contentment.
  • Gender dynamics add an extra layer of complexity, unveiling that while 50% of surveyed female finance professionals are comfortable negotiating, only 17% express satisfaction with their salaries. The report goes beyond stereotypes, demonstrating that negotiation trends align between genders as experience levels increase.

The report also provides a roadmap for employers and hiring managers to tailor compensation and engagement strategies to fit the diverse needs of finance professionals in Nigeria.

The recommendations derived from these insights are a call to action for hiring managers, CFOs, and experienced finance professionals. This report is a roadmap to equitable and satisfying work environments, sparking positive change within Nigeria’s finance sector.

To read the full report by Duplo and get recommendations on improving salary satisfaction as a hiring manager or finance professional, click here.

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