With various organisations to apply one’s expertise, the distinguishing feature for each organisation is usually centered on how much an organisation is willing to give in exchange for your labour.
Whether as a entry level staff, or a professional with years of experience, a determinant for how motivated or enthusiastic you are about that job rests on the salary grades.
What Are Salary Grades?
Salary grades are the methods in which organisations use to group jobs into various positions.
They involve systematic framework for categorizing jobs based on experience, market rates, skills and qualifications, job responsibilities, and internal equity.
Salary grades are characterized by specific salary changes, defined grade intervals, clear job descriptions, job evaluation and hierarchical structures.
Types of Salary Grades
Salary grades, also known as pay grades can either be market-based, grade-based, hybrid, traditional, or broadbanding.
Salary grade provides a structured approach that enables organisations to not only attract best talents, but retain and motivate them with a compensation management system that is transparent and rewarding. This also give room for fairness and internal equity in organisations.
What Are The Different Salary Grades and Base Salaries for New Grads?
A recent graduate is not only on the look out for experience building and opportunity to grow professionally, how much a company is willing to pay for their service is also a critical consideration? Even as a worker with experience seeking another job opportunity, especially in a sector different from what you are originally used to, it is normal to check for the different salary grades existing in Nigeria. There are different salary grades across organisations, industries, and sectors in Nigeria. However, with a focus on Nigeria, these salary grades reflect a realistic structure.
Public Sector Grade
Level 1-4 N30,000 – N70,000
Level 5-7 N60,000 – N120,000
Level 8-10 N120,000 – N200,000
Level 11-14 N200,000 – N400,000
Level 15-17 N400,000 – N800,000
For private sectors, depending on the level, the different salary grades range between N50,000 – N150,000 for entry level and executives that are on grade 13 and over, can earn as much as N1,200,000.
Meanwhile, the banking and finance sector, including oil and gas, as well as telecommunications can disburse as much as N1.4m – N2m to those in the executive level.
What Are Base Salaries of New Grads Software Developer?
A new grad software developer in Nigeria may not necessarily earn like a new grad software developer in the US. However, with more opportunities and experiences, a new grad software developer will earn more.
To fully determine how much software developers earn, different factors are considered; such as: education and experience.
For entry level, a software developer with less than 3 years of experience can earn between N118,000 – N164,000 monthly. While those with mid level can earn between N218,000 – N323,000 monthly. Senior level, which includes those with 10 years and more experience, can earn between N393,000 – N465,000 monthly.
Lastly, in addition to these figures, companies have other means of compensation such as bonus and appraisals.
