Have you ever wondered what a CEO earns? A CEO is the highest paid officer and employee in a company. He runs it so that it is successful. There are also other names for this, such as a chief executive officer or chairman but no matter what, in almost all companies, the CEO is the highest paid person. And how much money do they earn, you might ask? What is the average salary for CEO? If you’ve wondered about this, then this article will answer those questions and give other interesting facts too!
Chief Executive Officer (CEO)
We are a fast-paced, growing company that is looking to hire a new CEO who will be focused on increasing sales and profit.
You will be responsible for the overall management of the company, including:
• Developing and implementing strategies to increase sales and profit
• Overseeing all aspects of our operations, including budgeting and forecasting
• Ensuring a positive working environment for all employees by managing conflict resolution and making sure people feel heard
• Leading any strategic partnerships or mergers that may come up in the future
This position comes with an excellent compensation package based on your experience level.
Salary for chief executive officer
A person working as a Chief Executive Officer in Nigeria typically earns around 729,000 NGN per month. Salaries range from 357,000 NGN (lowest) to 1,140,000 NGN (highest).
This is the average monthly salary including housing, transport, and other benefits. Chief Executive Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Executive Officer Salary Distribution in Nigeria
The median, the maximum, the minimum, and the range
- Salary RangeChief Executive Officer salaries in Nigeria range from 357,000 NGN per month (minimum salary) to 1,140,000 NGN per month (maximum salary).
- Median SalaryThe median salary is 744,000 NGN per month, which means that half (50%) of people working as Chief Executive Officer(s) are earning less than 744,000 NGN while the other half are earning more than 744,000 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 Chief Executive Officer(s) are earning less than 495,000 NGN while 75% of them are earning more than 495,000 NGN. Also from the diagram, 75% of Chief Executive Officer(s) are earning less than 959,000 NGN while 25% are earning more than 959,000 NGN.
Chief Executive Officer 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 Chief Executive Officer salaries by experience level and this is what we found.
A Chief Executive Officer with less than two years of experience makes approximately 424,000 NGN per month.
While someone with an experience level between two and five years is expected to earn 544,000 NGN per month, 29% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 751,000 NGN per month, 38% more than someone with two to five years of experience.
Additionally, Chief Executive Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 931,000 NGN per month, 24% 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 997,000 NGN per month, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 1,060,000 NGN per month, 7% more than people with fifteen to twenty years of experience.
Chief Executive Officer average salary change by experience in Nigeria
| 0 – 2 Years | 424,000 NGN | |
| 2 – 5 Years | +29% | 544,000 NGN |
| 5 – 10 Years | +38% | 751,000 NGN |
| 10 – 15 Years | +24% | 931,000 NGN |
| 15 – 20 Years | +7% | 997,000 NGN |
| 20+ Years | +7% | 1,060,000 NGN |
Percentage increase and decrease are relative to the previous value
Chief Executive Officer Salary Comparison By Education
How do education levels affect salaries?
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 Chief Executive Officer salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Chief Executive Officer is 412,000 NGN per month.
While someone with a Certificate or Diploma gets a salary of 490,000 NGN per month, 19% more than someone having a High School degree.
A Bachelor’s Degree gets its holder an average salary of 622,000 NGN per month, 27% more than someone with a Certificate or Diploma.
Professionals who hold a Master’s Degree are rewarded with an average salary of 950,000 NGN per month, 53% more than someone with Bachelor’s Degree.
PhD holders are compensated with wage equivelant to 1,130,000 NGN per month, 19% more than someone with Master’s Degree.
Chief Executive Officer average salary difference by education level in Nigeria
| High School | 412,000 NGN | |
| Certificate or Diploma | +19% | 490,000 NGN |
| Bachelor’s Degree | +27% | 622,000 NGN |
| Master’s Degree | +53% | 950,000 NGN |
| PhD | +19% | 1,130,000 NGN |
