Top 20 Most Lucrative Professions In Nigeria
When you hear the term lucrative job, what comes to mind is a job that is challenging, pays well, doesn’t wear one out, and also offers room for advancement as well as provide a satisfying work-life balance.
Like many other countries in the world, Nigeria also has its most sought after professions in the both the formal and informal sectors
Here is our list of 20 of our top earners in Nigeria:
Aerospace Engineers
Most, if not all Aerospace engineers working in the country’s aviation sector acquired their technical and professional training outside the country. Aerospace Engineering is a tasking profession that requires technical expertise and sound judgment. The Nigerian system is yet to develop a functioning aerospace engineering department in Nigerian universities, hence the need to acquire human resources from abroad and pay them handsomely.
Petroleum/Production Engineers
Highly skilled engineers in the various production aspects of the petroleum industry are rare and thy fall among the best paid professional Engineers in Nigeria. A Production Engineer is responsible for making sure manufacturing equipment and production processes run safely and cost effectively. Their work is usually split into three main areas: maintenance, optimization and installation. The job is one that is detail and attention oriented, hence the need to hire the best hands and pay generously.
Investment Bankers
Investment bankers are not just ordinary bankers. They help multinational companies, governments and other top agencies in the process of gaining money by issuing and trading in securities in the primary market. Part of their job also includes assisting private organisations source funds in the capital markets. Investment bankers also offer services like giving strategic advisory for mergers, acquisitions and any other type of financial transactions. These set of professionals are not always found in banks, but mainly work in asset management companies, Investment advisory and consulting firms. Their services are not easy to come by; neither is the kind of money they get rewarded with at the end of the day.
Commercial Airline Pilots
In the past, most airlines in Nigeria were dominated by expatriate pilots, but nowadays, most Nigerians are taking up the job. As more carriers are getting on the airspace in Nigeria, this profession is getting even more competitive and well-trained and skilled pilots are in high demand. Asides from the monthly salary compensation and other attractive bonuses, pilots get a handsome reward after each successful landing.
Project Managers
The term Project Manager may seem vague, but the truth is that those that take their time to study, understand and embrace this profession are regularly smiling to the bank. Their job mostly includes planning and executing various projects either within their organizations or that of their respective clients. Project managers’ take home pay varies depending on the size of the company. Senior Project Managers carry out functions ranging from setting up new manufacturing plants to rolling out of telecom products. Project Manager that are associated with in Telecom, Manufacturing industries, oil & gas sectors and banking earn the biggest pay packets.
IT/Telecom Engineers
IT engineers are billed with the task of implementing software and hardware solutions in an organisation and the position may also include administration duties and support. As the IT and telecom industries are becoming fiercer, skilled IT and Telecom engineers will be more in demand and earn high.
Software Programmers/IT Security Analysts/Hackers
The demand for programmers well versed in object-oriented computer programming language has been on the increase of recent. Software programmes are not usually employees of one company, but generally secure contract jobs with several top organisations.
Ethical Hackers and IT Security Analyst work to improve cyber security, prevent security breaches and maintain the security of web and online platforms and are hard to find in the Nigerian job market. As more businesses are buying into the online environment, it is highly essential to enforce low risk of security breach against online operations, thus IT Security Analyst and Hacking careers are looking more lucrative. Cyber crime is on the increase all over the world, hence the need for organisations that indulge in online business transactions to secure a safe method to combat and checkmate the activities of these with the services of top IT Security Analysts whose services do not come cheap.
Accountants
Accountancy nowadays seems like a generic career choice, but on the other hand, it is a very appealing career choice for many professionals. Well qualified experts in the field are rewarded with an attractive salary and several other benefits. Accountants that are willing to reap all the perks the career has to offer get qualifications which make them hireable by auditing companies and other top firms.
IT Web Designers
The Information Technology sector has grown to become a goldmine and even those at the bottom of the rung of the ladder in this field get well compensated. There is a huge market for IT experts and the more qualified and experienced they are, the better the compensation package.
Medical Practitioners
When one takes into consideration the amount of time they spend training in medical school, the amount of responsibility they carry and the fact that they are entrusted with lives, it is hardly surprising that the medical practice as a career is potentially lucrative. Depending on the rank, the number of years of experience and area of specialization, medical practitioners are sure to benefit from an attractive salary and other fantastic benefits throughout their careers.
Property Developers
Getting a job as a property developer could prove to be an excellent career move. There is a huge market for the real estate industry as well as attractive gains that come along with it. The government, as well as private investors, are coming up with ways to enrich the economy and real estate is one of the options they are falling back on. Property development is a hugely profitable career move for those given the privilege to broker such deals.
Insurance Brokers/Analysts
There are a lot of great opportunities in the Nigerian insurance sector, and no one knows this better than top Insurance Brokers. Asides from an attractive salary, high percentage commissions, brilliant benefits and lots of opportunities to rise to the top, working in the insurance industry is a lucrative possibility to consider.
Solicitors
The legal profession is one that is admired by many in Nigeria, not only because of the prestige associated with it, but also the fees and earnings that pop up regularly. The specialist legal knowledge and experience required for a solicitor mean it’s an occupation that pays particularly well. However, the industry is hugely competitive.
PR Experts
We have most likely heard the phrase image is everything, and the importance of the media in spreading information cannot be underestimated in this modern age. Individuals who have built their identity to become public figures realize the importance and necessity of a good image and also the damage bad press or a poor public image can cause. Hence, the great demand for public relation expert is a must, and their services come with accompanying high paycheques. Most big businesses usually prefer to employ the services of an external public relations team rather than an in-house employee, and of course the former earns much more.
Commissioned Salespersons
Looking at it from a layman’s view, the job of a commissioned salesperson may seem to be one at filled with stress that pays sparingly. But interestingly, these are one of the highest earners in the job market. For those who have acquired the tricks and the tools of the trade, they are usually seen smiling to the bank regularly. This does, of course, depend largely on what exactly you are selling. At the top of the list lie financial services, pharmaceuticals and automobiles.
Professional Athletes
Becoming a professional athlete or sportsperson is a very admirable career. Not only are the salaries good, but most pro athletes also get endorsement deals, get paid royalties and other forms of compensation packages and deals other which result in huge bonuses; and let’s not forget the job satisfaction, aura, and prestige associated with being a sports personality. This takes time to achieve in Nigeria but when you do it’s more than worth it!
Entertainers
The entertainment industry in Nigeria is one of the most booming industries around. Successful entertainers like actors, artistes, models, comedians, most of the time get paid higher than the regular white collar professional. An entertainer who has found his feet in the business gets paid per show, and this is much more desirable than sitting and waiting to get paid at the end of the month. Another attractive side to their paycheque is the fact that they get juicy endorsement deals, which is enough to sustain them the whole year.
Show Promoters
Show promoters are another set of big guns in the Nigerian entertainment industry. These are the set of people that make the performances of entertainers possible. Their jobs a very are very tasking yet fun. The put together music concerts, comedy shows, and other entertainment shows even wrestling and boxing. The amount show promoters earn depend on factors like the capacity of the venue booked, the awareness given to the show and most especially the popularity of the acts they promote.
Contract specialists (Purchasing and Inventory)
If you are a Nigerian who knows at least a little about the business environment, the word ‘contract’ on its own sounds very juicy. The job contract specialists are to create, and oversee contractual agreements between establishments and suppliers of materials or labour. Much is expected of them as they are meant to act as tough negotiators who will secure the best deal for the company they represent. After the deal is secured, they will monitor and administer these contracts. The rewards that come at the end of the deals is very mouth-watering, to say the least.
Controller (Accounting and Finance)
A controller is responsible for managerial accounting, high-level accounting, and other delicate finance activities. This job is a very sensitive position which involves taking critical financial situations in a company, hence the need to hire a well-skilled expert. Other major duties a controller performs include preparation of the operating budgets, overseeing financial reporting and performing tasks relating to payroll. Controllers are usually found in multinational companies, FMCGs, 5-star hotels and other large organisations.
The amount earned by these careers depend on many factors but most especially the number of years of experience and the organization they work for.
