Account manager salaries are one of the more interesting account management salaries because they can vary quite a bit. It depends on what kind of company you’re working for, how long you’ve been in the field, and where you’re located. My aim is to have a resource people can use to determine their salary or figure out if they are being paid fairly. Also, I will be updating this annually as new information is released by Payscale.com .
Account managers are a crucial part of any business, and the salary for an account manager can vary greatly depending on a number of factors.
The first factor that will affect your salary is where you work. Account managers in large cities tend to make more than those who work in rural areas. The next factor is how long you’ve been working as an account manager. If you have less experience under your belt, you’ll likely earn less than someone with years of experience at their craft.
The third factor that affects your salary as an account manager is whether or not you’re self-employed or working for someone else. If you’re self-employed, there’s no one else to pay besides yourself. However, if you work for someone else, then your employer will be responsible for paying your salary and benefits package.
The fourth factor is what kind of company you work for: whether it’s a small business or large corporation will determine how much money they can offer their employees in terms of salaries and benefits packages – so keep that in mind when looking for work!
Salary for account manager
A person working as an Accounting Manager in Nigeria typically earns around 504,000 NGN per month. Salaries range from 272,000 NGN (lowest) to 761,000 NGN (highest).
This is the average monthly salary including housing, transport, and other benefits. Accounting Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Accounting Manager Salary Distribution in Nigeria
The median, the maximum, the minimum, and the range
- Salary RangeAccounting Manager salaries in Nigeria range from 272,000 NGN per month (minimum salary) to 761,000 NGN per month (maximum salary).
- Median SalaryThe median salary is 464,000 NGN per month, which means that half (50%) of people working as Accounting Manager(s) are earning less than 464,000 NGN while the other half are earning more than 464,000 NGN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
- PercentilesClosely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Accounting Manager(s) are earning less than 331,000 NGN while 75% of them are earning more than 331,000 NGN. Also from the diagram, 75% of Accounting Manager(s) are earning less than 563,000 NGN while 25% are earning more than 563,000 NGN.
Accounting Manager Salary Comparison by Years of Experience
How does experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Accounting Manager salaries by experience level and this is what we found.
An Accounting Manager with less than two years of experience makes approximately 316,000 NGN per month.
While someone with an experience level between two and five years is expected to earn 399,000 NGN per month, 26% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 526,000 NGN per month, 32% more than someone with two to five years of experience.
Additionally, Accounting Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 619,000 NGN per month, 18% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 685,000 NGN per month, 11% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 729,000 NGN per month, 6% more than people with fifteen to twenty years of experience.
Accounting Manager average salary change by experience in Nigeria
0 – 2 Years | 316,000 NGN | |
2 – 5 Years | +26% | 399,000 NGN |
5 – 10 Years | +32% | 526,000 NGN |
10 – 15 Years | +18% | 619,000 NGN |
15 – 20 Years | +11% | 685,000 NGN |
20+ Years | +6% | 729,000 NGN |
Percentage increase and decrease are relative to the previous value
Accounting Manager Salary Comparison By Education
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Accounting Manager salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of an Accounting Manager is 399,000 NGN per month.
While someone with a Bachelor’s Degree gets a salary of 526,000 NGN per month, 32% more than someone having a Certificate or Diploma degree.
A Master’s Degree gets its holder an average salary of 722,000 NGN per month, 37% more than someone with a Bachelor’s Degree.
Accounting Manager average salary difference by education level in Nigeria
Certificate or Diploma | 399,000 NGN | |
Bachelor’s Degree | +32% | 526,000 NGN |
Master’s Degree | +37% | 722,000 NGN |
Percentage increase and decrease are relative to the previous value
Accounting Manager Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Accounting Manager employees in Nigeria earn 10% more than their female counterparts on average.
Male | 523,000 NGN | |
Female | -9% | 476,000 NGN |
Percentage increase and decrease are relative to the previous value