Average Capital Risk Manager Salary in Nigeria for 2024

In this article, we will look at the average Capital Risk Manager salary for 2024 in Nigeria and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Nigerian naira. To keep things simple, we are using the NGN currency code instead of the currency symbol โ‚ฆ.

How Much Does a Capital Risk Manager Make in Nigeria?

A Capital Risk Manager working in Nigeria will typically earn around 8,339,300 NGN per year, and this can range from the lowest average salary of about 4,249,700 NGN to the highest average salary of 12,841,200 NGN.

Average Annual Salary
8,339,300 NGN
Average Monthly Salary
694,941 NGN

Lowest Annual Salary
4,249,700 NGN
Lowest Monthly Salary
354,141 NGN

Highest Annual Salary
12,841,200 NGN
Highest Monthly Salary
1,070,100 NGN

These are average salaries for a Capital Risk Manager in Nigeria and include benefits such as housing and transport. It's also possible for a Capital Risk Manager to earn more or less than the average salaries shown above.

Capital Risk Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Capital Risk Manager Salaries in Nigeria

So we've looked at the average salaries a Capital Risk Manager will earn in Nigeria. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Capital Risk Manager can earn between 4,249,700 NGN and 12,841,200 NGN on average in Nigeria. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Capital Risk Manager in Nigeria is 8,172,900 NGN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 8,172,900 NGN, and 50% of the population earn more than 8,172,900 NGN.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Capital Risk Manager salary in Nigeria, 25% of the population are earning less than 5,591,900 NGN while 75% of the population earn more than 5,591,900 NGN.

75% of the population earn less than 10,297,600 NGN, and 25% of the population earn more than 10,297,600 NGN.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Capital Risk Manager Salary by Experience Level in Nigeria

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average capital risk manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Capital Risk Manager in Nigeria that has less than two years of experience can expect to earn somewhere in the region of 4,762,300 NGN.
  • 2 - 5 Years Experience. With two to five years of experience the average Capital Risk Manager salary would increase to 6,228,100 NGN.
  • 5 - 10 Years Experience. From five to ten years of experience as a Capital Risk Manager, the average salary would be 8,724,700 NGN.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 10,475,000 NGN.
  • 15 - 20 Years Experience. A Capital Risk Manager with 15 to 20 years of experience can earn an average of 11,389,900 NGN.
  • 20+ Years Experience. For a Capital Risk Manager with more than 20 years, the expected average salary increases to 12,239,700 NGN.

Average Salary by Experience Chart

0-2 Years
4,762,300 NGN
2-5 Years +31%
6,228,100 NGN
5-10 Years +40%
8,724,700 NGN
10-15 Years +20%
10,475,000 NGN
15-20 Years +9%
11,389,900 NGN
20+ Years +8%
12,239,700 NGN

Capital Risk Manager Salary by Education Level in Nigeria

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Capital Risk Manager in Nigeria based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Capital Risk Manager in Nigeria with a bachelor's degree education can earn an average salary of 5,880,300 NGN.

  • Master's Degree. A Capital Risk Manager in Nigeria with a master's degree education can earn an average salary of 10,440,100 NGN.

Average Salary by Education Chart

Bachelor's Degree
5,880,300 NGN
Master's Degree +77%
10,440,100 NGN

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Nigeria is around 1,690,000 to 5,080,000 NGN and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Capital Risk Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Nigeria, a male capital risk manager will earn an average of 9,082,500 NGN, while a female capital risk manager will earn around 7,669,900 NGN.

This means that a male capital risk manager earns approximately 18% more than a female capital risk manager for performing the same job.

Average Salary by Gender Chart in Nigeria

Male
9,082,500 NGN
Female -18%
7,669,900 NGN

Capital Risk Manager Average Pay Raise in Nigeria

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Capital Risk Manager in Nigeria is around 13% every 19 months.

The national average pay raise across all professions and industries in Nigeria is around 8% every 19 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 13 ÷ 19 ) × 12  = 8%

What this means is that a Capital Risk Manager in Nigeria can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Nigeria for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Nigeria.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Capital Risk Manager Bonus and Incentive Rates in Nigeria

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Capital Risk Manager is a high bonus based job, with 78% of employees reporting at least one bonus in the last 12 months.

22% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 6% to 8%.

Received Bonus
78%
No Bonus
22%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Nigeria earn approximately 6% more than private sector employees in the same role.

Public Sector
4,162,800 NGN
Private Sector -6%
3,934,900 NGN

Salaries for Jobs Similar to a Capital Risk Manager

In the table below, we have salary information for jobs that are similar to a Capital Risk Manager in Nigeria.

Job Title Category Salary
AML Analyst Banking 6,347,100 NGN
Assistant Bank Branch Manager Banking 5,461,900 NGN
Assistant Bank Manager Banking 6,862,900 NGN
ATM Manager Banking 6,142,600 NGN
ATM Service Technician Banking 1,621,400 NGN
Bank Accounts Analyst Banking 2,281,800 NGN
Bank Accounts Collector Banking 1,440,700 NGN
Bank Accounts Controller Banking 3,035,200 NGN
Bank Accounts Executive Banking 4,320,200 NGN
Bank Accounts Manager Banking 5,305,100 NGN
Bank Auditing Manager Banking 5,017,100 NGN
Bank Branch Manager Banking 7,030,600 NGN
Bank Branch Operations Coordinator Banking 3,085,500 NGN
Bank Clerk Banking 1,357,900 NGN
Bank Client Service Associate Banking 2,015,600 NGN
Bank Collector Banking 1,500,800 NGN
Bank Compliance Specialist Banking 3,934,900 NGN
Bank Manager Banking 7,993,600 NGN
Bank Operational Risk Manager Banking 8,242,900 NGN
Bank Operations Head Banking 8,891,600 NGN
Bank Operations Officer Banking 3,277,900 NGN
Bank Operations Specialist Banking 5,305,100 NGN
Bank Process Manager Banking 4,931,400 NGN
Bank Product Manager Banking 5,423,100 NGN
Bank Programme Manager Banking 5,952,700 NGN
Bank Project Manager Banking 6,780,300 NGN
Bank Propositions Manager Banking 5,784,200 NGN
Bank Quantitative Analyst Banking 4,380,400 NGN
Bank Regional Manager Banking 9,133,400 NGN
Bank Regional Risk Officer Banking 4,429,300 NGN
Bank Relationship Manager Banking 6,420,700 NGN
Bank Relationship Officer Banking 2,987,000 NGN
Bank Teller Banking 1,450,700 NGN
Banker Banking 3,061,300 NGN
Banking Business Analyst Banking 4,465,800 NGN
Banking Business Development Officer Banking 2,782,600 NGN
Banking Business Planning Executive Banking 6,493,000 NGN
Banking Product Manager Banking 5,399,900 NGN
Banking Reference Data Manager Banking 5,017,100 NGN
Banking Risk Analyst Banking 4,162,800 NGN
Banking Technical Analyst Banking 2,304,300 NGN
Bankruptcy Coordinator Banking 3,023,200 NGN
Bill and Account Collector Banking 1,547,500 NGN
Budget Analyst Banking 4,320,200 NGN
Cards Marketing Manager Banking 5,376,200 NGN
Cash Management Manager Banking 7,453,000 NGN
Check Processing Manager Banking 5,833,500 NGN
Commercial Vault Associate Banking 4,162,800 NGN
Corporate Banker Banking 3,071,100 NGN
Corporate Dealer Banking 4,585,100 NGN
Credit Analyst Banking 3,406,900 NGN
Credit and Collections Manager Banking 5,676,700 NGN
Credit Card Fraud Investigator Banking 4,609,700 NGN
Credit Portfolio Manager Banking 7,907,600 NGN
Credit Risk Analyst Banking 5,088,900 NGN
Credit Risk Associate Banking 4,690,500 NGN
Direct Bank Sales Representative Banking 3,035,200 NGN
Exchange Control Consultant Banking 4,777,400 NGN
Executive Account Analyst Banking 4,162,800 NGN
Financial Bank Planning Consultant Banking 5,628,400 NGN
Financial Banking Analysis Manager Banking 6,407,600 NGN
Financial Banking Assistant Banking 2,197,700 NGN
Financial Banking Systems Manager Banking 6,024,400 NGN
Foreign Exchange Manager Banking 6,179,700 NGN
Fraud Analyst Banking 4,777,400 NGN
Fraud Detection Associate Banking 3,239,400 NGN
Fraud Detection Manager Banking 7,020,500 NGN
Fraud Detection Supervisor Banking 3,755,300 NGN
Internal Bank Audit Manager Banking 7,957,900 NGN
Internal Bank Auditor Banking 4,056,200 NGN
Internal Private Banker Banking 3,168,300 NGN
International Banking Manager Banking 9,094,100 NGN
Investment Banking Analyst Banking 6,179,700 NGN
Loan Analyst Banking 4,414,800 NGN
Loan Area Manager Banking 5,099,700 NGN
Loan Audit Team Leader Banking 4,777,400 NGN
Loan Branch Manager Banking 5,017,100 NGN
Loan Business Development Officer Banking 2,593,900 NGN
Loan Clerk Banking 1,606,100 NGN
Loan Collection and Recovery Manager Banking 5,518,700 NGN
Loan Collection Manager Banking 5,221,800 NGN
Loan Collector Banking 1,440,700 NGN
Loan Examiner Banking 1,846,200 NGN
Loan Officer Banking 1,728,900 NGN
Loan Processing Manager Banking 4,834,900 NGN
Loan Processor Banking 1,930,500 NGN
Loan Quality Assurance Auditor Banking 4,609,700 NGN
Loan Quality Assurance Manager Banking 4,919,600 NGN
Loan Quality Assurance Representative Banking 3,144,700 NGN
Loan Review Manager Banking 5,029,900 NGN
Loan Team Leader Banking 4,309,300 NGN
Loans Manager Banking 5,724,700 NGN
Mortgage Advisor Banking 3,144,700 NGN
Mortgage Collection Manager Banking 5,076,600 NGN
Mortgage Collector Banking 1,500,800 NGN
Mortgage Credit Analyst Banking 2,339,200 NGN
Mortgage Credit Manager Banking 4,714,900 NGN
Mortgage Development Manager Banking 5,735,900 NGN
Mortgage Document Reviewer Banking 1,870,400 NGN
Mortgage Funding Manager Banking 5,880,300 NGN
Mortgage Operations Manager Banking 7,789,700 NGN
Mortgage Payment Processing Clerk Banking 1,645,600 NGN
Mortgage Processing Manager Banking 4,991,200 NGN
Mortgage Processor Banking 2,076,600 NGN
Mortgage Quality Assurance Auditor Banking 4,510,700 NGN
Mortgage Quality Assurance Manager Banking 4,956,800 NGN
Mortgage Servicing Clerk Banking 1,537,500 NGN
Mortgage Servicing Manager Banking 4,681,400 NGN
Mortgage Underwriter Banking 1,777,700 NGN
Online Banking Manager Banking 7,404,700 NGN
Payment Processing Clerk Banking 1,594,500 NGN
Personal Banker Banking 3,205,100 NGN
Personal Banking Advisor Banking 3,144,700 NGN
Phone Banker Banking 2,100,900 NGN
Private Banker Banking 3,132,800 NGN
Reconciliation and Investigation Specialist Banking 3,432,600 NGN
Tax Officer Banking 2,566,100 NGN
Teller Banking 1,440,700 NGN
Trade Officer Banking 1,765,300 NGN
Trade Product Manager Banking 5,351,400 NGN
Trader Banking 2,146,100 NGN
Treasury Operations Officer Banking 3,934,900 NGN

Salary Comparison by City

If you want to compare salaries with different cities in Nigeria, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Benin City 7,129,200 NGN
Ibadan 8,425,800 NGN
Kaduna 8,123,400 NGN
Kano 8,545,000 NGN
Lagos 8,713,800 NGN

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