Duplo, a financial technology brand dedicated to developing solutions for a truly cashless world, has released a report on finance salaries in Nigeria.
According to an official statement by the brand, the conversation around salaries is a constant undertone for professionals striving for a better life. It said the report gives information that covers salary satisfaction, to negotiation insights, numbers and trends anyone needs to know.
It further notes: “Nigeria, grappling with inflation challenges, sees finance experts navigating through salaryrevisions that often fall prey to the eroding effects of economic pressures. Duplo’s 2023 “Finance Salaries In Nigeria: Negotiation Trends and Salary Satisfaction” report, 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.
The statement revealed that the recent report is drawn from a survey of 249 finance professionals across diverse sectors in Nigeria, and it 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.
Giving details on what to expect from the report the statement said the report goes beyond stereotypes, demonstratingthat 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.”
The statement added that this report is truly a roadmap to equitable andsatisfying 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.
