Have you ever wondered what your accounts receivable position is worth? Or did the owner of your company ever ask you to calculate it? Chances are, either you or someone in your company has been asked to do this. But calculating AR’s value isn’t as easy as taking its annual turnover. In order to know whether your accounts receivable are worth their salt or not, you’ll have to employ a different way of measuring its total cost of capital. Given that information, it will be up to you whether your employees can afford to pay you back…!
The salary for accounts receivable is not a fixed amount, but rather a percentage of the total revenue from accounts receivable each month. Accounts receivable are usually paid out within 30 days, so the company needs to have enough money coming in to cover those payments.
The percentage varies based on the size of the company, but it is usually between 6% and 10%.
Salary for accounts receivable
A person working as an Accounts Receivable Manager in Nigeria typically earns around 476,000 NGN per month. Salaries range from 247,000 NGN (lowest) to 728,000 NGN (highest).
This is the average monthly salary including housing, transport, and other benefits. Accounts Receivable Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Accounts Receivable Manager Salary Distribution in Nigeria
The median, the maximum, the minimum, and the range
- Salary RangeAccounts Receivable Manager salaries in Nigeria range from 247,000 NGN per month (minimum salary) to 728,000 NGN per month (maximum salary).
- Median SalaryThe median salary is 457,000 NGN per month, which means that half (50%) of people working as Accounts Receivable Manager(s) are earning less than 457,000 NGN while the other half are earning more than 457,000 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 Accounts Receivable Manager(s) are earning less than 317,000 NGN while 75% of them are earning more than 317,000 NGN. Also from the diagram, 75% of Accounts Receivable Manager(s) are earning less than 569,000 NGN while 25% are earning more than 569,000 NGN.
Accounts Receivable 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 Accounts Receivable Manager salaries by experience level and this is what we found.
An Accounts Receivable Manager with less than two years of experience makes approximately 281,000 NGN per month.
While someone with an experience level between two and five years is expected to earn 377,000 NGN per month, 34% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 490,000 NGN per month, 30% more than someone with two to five years of experience.
Additionally, Accounts Receivable Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 593,000 NGN per month, 21% 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 649,000 NGN per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 682,000 NGN per month, 5% more than people with fifteen to twenty years of experience.
Accounts Receivable Manager average salary change by experience in Nigeria
| 0 – 2 Years | 281,000 NGN | |
| 2 – 5 Years | +34% | 377,000 NGN |
| 5 – 10 Years | +30% | 490,000 NGN |
| 10 – 15 Years | +21% | 593,000 NGN |
| 15 – 20 Years | +9% | 649,000 NGN |
| 20+ Years | +5% | 682,000 NGN |
Percentage increase and decrease are relative to the previous value
Accounts Receivable 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 Accounts Receivable Manager salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of an Accounts Receivable Manager is 334,000 NGN per month.
While someone with a Bachelor’s Degree gets a salary of 507,000 NGN per month, 52% more than someone having a Certificate or Diploma degree.
A Master’s Degree gets its holder an average salary of 718,000 NGN per month, 42% more than someone with a Bachelor’s Degree.
Accounts Receivable Manager average salary difference by education level in Nigeria
| Certificate or Diploma | 334,000 NGN | |
| Bachelor’s Degree | +52% | 507,000 NGN |
| Master’s Degree | +42% | 718,000 NGN |
Percentage increase and decrease are relative to the previous value
