Salary for Entry Level Financial Analyst. If you are interested in a career and wondering what salary is expected by a person as entry level financial analyst, we have the answer. We will break down the average salary to provide you simple facts.
Salaries for entry-level financial analysts vary widely.
According to PayScale, the average salary for an entry-level financial analyst is $50,000 per year. The range varies from $10,000 to $60,000.
Salary for entry level financial analyst
A person working as a Financial Analyst in Nigeria typically earns around 427,000 NGN per month. Salaries range from 205,000 NGN (lowest) to 670,000 NGN (highest).
This is the average monthly salary including housing, transport, and other benefits. Financial Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Analyst Salary Distribution in Nigeria
The median, the maximum, the minimum, and the range
- Salary RangeFinancial Analyst salaries in Nigeria range from 205,000 NGN per month (minimum salary) to 670,000 NGN per month (maximum salary).
- Median SalaryThe median salary is 444,000 NGN per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 444,000 NGN while the other half are earning more than 444,000 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 Financial Analyst(s) are earning less than 292,000 NGN while 75% of them are earning more than 292,000 NGN. Also from the diagram, 75% of Financial Analyst(s) are earning less than 579,000 NGN while 25% are earning more than 579,000 NGN.
Financial Analyst 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 Financial Analyst salaries by experience level and this is what we found.
A Financial Analyst with less than two years of experience makes approximately 240,000 NGN per month.
While someone with an experience level between two and five years is expected to earn 340,000 NGN per month, 42% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 447,000 NGN per month, 31% more than someone with two to five years of experience.
Additionally, Financial Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 549,000 NGN per month, 23% 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 584,000 NGN per month, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 640,000 NGN per month, 10% more than people with fifteen to twenty years of experience.
Financial Analyst average salary change by experience in Nigeria
| 0 – 2 Years | 240,000 NGN | |
| 2 – 5 Years | +42% | 340,000 NGN |
| 5 – 10 Years | +31% | 447,000 NGN |
| 10 – 15 Years | +23% | 549,000 NGN |
| 15 – 20 Years | +6% | 584,000 NGN |
| 20+ Years | +10% | 640,000 NGN |
Percentage increase and decrease are relative to the previous value
Financial Analyst 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 Financial Analyst salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Financial Analyst is 298,000 NGN per month.
While someone with a Certificate or Diploma gets a salary of 344,000 NGN per month, 16% more than someone having a High School degree.
A Bachelor’s Degree gets its holder an average salary of 502,000 NGN per month, 46% more than someone with a Certificate or Diploma.
Professionals who hold a Master’s Degree are rewarded with an average salary of 619,000 NGN per month, 23% more than someone with Bachelor’s Degree.
Financial Analyst average salary difference by education level in Nigeria
| High School | 298,000 NGN | |
| Certificate or Diploma | +16% | 344,000 NGN |
| Bachelor’s Degree | +46% | 502,000 NGN |
| Master’s Degree | +23% | 619,000 NGN |
Percentage increase and decrease are relative to the previous value
