Business Analyst Average Salary in Lagos 2024
How much money does a person working as Business Analyst make in Lagos?
LOW
217,000
NGN AVERAGE
434,000
NGN HIGH
672,000
NGN
A person working as Business Analyst in Lagos typically earns around 434,000 NGN. Salaries range from 217,000 NGN (lowest) to 672,000 NGN (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Business Analyst salaries in Lagos vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Business Analyst Pay Scale and Salaries in Lagos
Salary Structure and Pay Scale Comparison
399,000 NGN or more
353,000 to 399,000 NGN
253,000 NGN or less
253,000 to 353,000 NGN
 217,000 NGN |
401,000 NGN |
672,000 NGN |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Business Analyst in Lagos range from 217,000 NGN (starting salary) to 672,000 NGN (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 401,000 NGN, half of the professionals who work as Business Analyst in Lagos earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Business Analyst in Lagos earn less than 330,000 NGN, while 75% earn more. Similarly, the chart shows that 75% earn less than 458,000 NGN while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Business Analyst in Lagos compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 253,000 NGN to 353,000 NGN. About 20% of salaries are below the 253,000 NGN mark, while 10% fall within the range of 353,000 NGN to 399,000 NGN. Only 5% of individuals have salaries exceeding 399,000 NGN.
Salary Comparison by Years of Experience / Business Analyst / Lagos
How do experience and age affect pay?
| 0 - 2 Years | 260,000 NGN | |
| 2 - 5 Years | +32% | 344,000 NGN |
| 5 - 10 Years | +34% | 460,000 NGN |
| 10 - 15 Years | +19% | 549,000 NGN |
| 15 - 20 Years | +8% | 593,000 NGN |
| 20+ Years | +7% | 636,000 NGN |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Business Analyst and this is what we found.
Employees with less than two years of experience earn approximately 260,000 NGN.
While someone with an experience level between two and five years is expected to earn 344,000 NGN, 32% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 460,000 NGN, 34% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 549,000 NGN, 19% 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 593,000 NGN, 8% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 636,000 NGN, 7% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Business Analyst / Lagos
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Business Analyst.
| High School | 326,000 NGN | |
| Certificate or Diploma | +14% | 372,000 NGN |
| Bachelor's Degree | +36% | 504,000 NGN |
| Master's Degree | +26% | 636,000 NGN |
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 salaries by education level for the position Business Analyst in order to make a comparison.
Level 1: High School
Employees at this education level have an average salary of 326,000 NGN.
Level 2: Certificate or Diploma
At this level, the average salary becomes 372,000 NGN, 14% more than the previous level.
Level 3: Bachelor's Degree
At this level, the average salary becomes 504,000 NGN, 36% more than the previous level.
Level 4: Master's Degree
At this level, the average salary becomes 636,000 NGN, 26% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Nigeria costs anywhere from 1,700,000 NGN to 5,100,000 NGN and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Business Analyst / Lagos
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Business Analyst in Nigeria, the average difference between the salary of male and female employees is 9%.
| Male | 463,000 NGN | |
| Female | -9% | 422,000 NGN |
Salary Comparison By Gender in Nigeria for all Careers
Average Annual Salary Increment Percentage / Business Analyst / Lagos
How much are annual salary increments in Lagos for individuals working as Business Analyst? How often do employees get salary raises?
Individuals working as Business Analyst in Nigeria are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 19 months.
Nigeria / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Business Analyst / Nigeria
How much and how often are bonuses being awarded?
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100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Business Analyst / Lagos
2,500 NGN per hourThe average hourly wage (pay per hour) for individuals working as Business Analyst in Lagos is 2,500 NGN.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Business Analyst in Lagos is 1,250 NGN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Business Planning |  -100% | |
| Agile Coach | 408,000 NGN | -6% |
| Assistant Business Development Manager | 465,000 NGN |  +7% |
| Assistant Merchandise Planner | 272,000 NGN | -37% |
| Business Advisor | 439,000 NGN | +1% |
| Business Analyst | 434,000 NGN | +0% |
| Business Consultant | 422,000 NGN | -3% |
| Business Continuity Associate | 261,000 NGN | -40% |
| Business Developer | 277,000 NGN | -36% |
| Business Development Analyst | 314,000 NGN | -28% |
| Business Development Associate | 225,000 NGN | -48% |
| Business Development Coordinator | 240,000 NGN | -45% |
| Business Development Director | 610,000 NGN | +41% |
| Business Development Engineer | 340,000 NGN | -22% |
| Business Development Executive | 444,000 NGN | +2% |
| Business Development Manager | 549,000 NGN | +27% |
| Business Development Specialist | 409,000 NGN | -6% |
| Business Manager | 501,000 NGN | +16% |
| Business Operations Specialist | 409,000 NGN | -6% |
| Business Process Writer | 246,000 NGN | -43% |
| Business Systems Analyst | 434,000 NGN | +0% |
| Capacity Planner | 303,000 NGN | -30% |
| Capacity Planning Supervisor | 405,000 NGN | -7% |
| Change Communications Analyst | 396,000 NGN | -9% |
| Change Control Analyst | 405,000 NGN | -7% |
| Change Impact Analyst | 409,000 NGN | -6% |
| Chief Automation Officer | 533,000 NGN | +23% |
| Chief Innovation Officer | 564,000 NGN | +30% |
| Contracts Executive | 418,000 NGN | -4% |
| Corporate Strategy Analyst | 435,000 NGN | +0% |
| Cost Control Engineer | 277,000 NGN | -36% |
| Cost Controller | 314,000 NGN | -28% |
| Cost Estimator | 282,000 NGN | -35% |
| Crisis Management Specialist | 457,000 NGN | +5% |
| Data Executive | 225,000 NGN | -48% |
| Data Manager | 340,000 NGN | -22% |
| Data Processing Manager | 388,000 NGN | -11% |
| Development Researcher | 327,000 NGN | -25% |
| Digital Strategist | 428,000 NGN | -1% |
| Digital Transformation Manager | 449,000 NGN | +4% |
| Director of Business Development | 610,000 NGN | +41% |
| Director of Production Planning | 523,000 NGN | +21% |
| Drop Shipping Consultant | 371,000 NGN | -14% |
| Due Diligence Analyst | 457,000 NGN | +5% |
| Estimating Manager | 466,000 NGN | +7% |
| General Manager | 523,000 NGN | +21% |
| Growth Hacker | 330,000 NGN | -24% |
| Impact Assessment Specialist | 388,000 NGN | -11% |
| Impact Investing Analyst | 388,000 NGN | -11% |
| Incident Handler | 298,000 NGN | -31% |
| Incident Specialist | 366,000 NGN | -16% |
| Lean Consultant | 324,000 NGN | -25% |
| Manager | 575,000 NGN | +33% |
| Marketing and Business Development Manager | 523,000 NGN | +21% |
| Materials Planner | 188,000 NGN | -57% |
| Merchandise Assistant | 183,000 NGN | -58% |
| Merchandise Controller | 183,000 NGN | -58% |
| Merchandise Planner | 188,000 NGN | -57% |
| Online Consultant | 356,000 NGN | -18% |
| Online Reputation Manager | 330,000 NGN | -24% |
| Operations Analyst | 392,000 NGN | -10% |
| Operations Manager | 449,000 NGN | +4% |
| Operations Research Analyst | 261,000 NGN | -40% |
| Planning and Reporting Manager | 470,000 NGN | +8% |
| Planning Director | 562,000 NGN | +30% |
| Product Designer | 314,000 NGN | -28% |
| Product Manager | 366,000 NGN | -16% |
| Project Administrator | 277,000 NGN | -36% |
| Project Manager | 444,000 NGN | +2% |
| Project Planner | 272,000 NGN | -37% |
| Research Assistant | 235,000 NGN | -46% |
| Research Engineer | 272,000 NGN | -37% |
| Research Officer | 214,000 NGN | -51% |
| Risk Management Specialist | 409,000 NGN | -6% |
| Scholarship Coordinator | 214,000 NGN | -51% |
| Store Planner | 209,000 NGN | -52% |
| Strategy Director | 588,000 NGN | +36% |
| Top Research and Development Executive | 631,000 NGN | +46% |
Salary Comparison By City
| City | Average Salary |
| Lagos | 434,000 NGN |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Nigeria is 6% on average across all career fields.
| Private Sector | 329,000 NGN | |
| Public Sector | +6% | 349,000 NGN |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Business Analyst in Lagos?
A good and competitive compensation would range anywhere between 401,000 NGN and 458,000 NGN. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Business Analyst in Lagos ranges from 217,000 NGN to 330,000 NGN. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
