Accountants are often seen by other Nigerians as moneybags. Well, this is not surprising seeing that what accountants do is the calculation and handling of money. They aren’t really paid as high as people think. In this post, we’ll be looking at the salary structure of accountants and how much are accountants plaid in Nigeria?
The Salary Structure of Accountants in Nigeria and How Much are Accountants Paid in Nigeria?
We are going to examine this by differentiating the accountants into different roles and classes. Accountants, just like other jobs in Nigeria, are paid according to their experience and level in the company. It is important you know that the higher you move in experience and level, the more amount you are paid as salary.
The major division among accountants is Chattered and Non-Chattered Accountants. Chattered Accountants are ones who have gotten professional certification in accounting aside their university degrees or HND like ICAN. While some companies pay them widely different, for others, it is not like that.
Now, let’s take a look at the different levels.
1. Interns Accountants
These are mostly non-chattered accountants done with their NYSC or doing their NYSC. They have little or no experience. They are usually paid lowest among accountants in a firm. As an intern accountant, you can be paid between 70,000 naira to 150,000 naira, depending on the company.
2. Chattered and Intermediate Experience Accountants
These ones have worked for 4 to 6 years in a firm, and must have gained the needed experience while going for their professional certification. At the end of 4 years in a firm, and you are chattered and certified, you are paid 150,000 naira to 300,000 naira depending on the company.
In case you get a job elsewhere and it is validated that you have over 4 years experience, and you are chattered, you are paid the amount above.
3. Senior Level Chattered Accountants
For this level, the person is chattered and has good experience of more than 10 years, sometimes it can be as high as 20 years. Thus, let us say 11 to 20 years experience, chattered, while obtaining higher certifications like Masters degree, and sometimes a PhD.
These ones are paid so well. They are paid more for their invaluable experience, and the type of work they do for the company. They are paid between 350,000 naira to 700,000 naira or more depending on the company.
These are the main levels of accountants. Then, if you end up owning an accounting firm, your salary is according to the profits and services rendered by the company.
Meanwhile for government employed accountants, they are paid at the same level with other workers in whatever agencies they find themselves. Government doesn’t differentiate according to the course you read. It is what they pay someone on another job in the same level with you that they pay you. Salary vary from government agency to government agency, though.
This post has shown you the salary structure of accountants in Nigeria and how much are accountants paid in Nigeria. It is up to you to know if the career is a good one for you. It might not be paying too well from the starting level but it’s definitely a good job as you advance im your career and get more certifications.