Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,191,340 members, 7,943,849 topics. Date: Monday, 09 September 2024 at 06:23 AM

Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? - Jobs/Vacancies (13) - Nairaland

Nairaland Forum / Nairaland / General / Jobs/Vacancies / Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? (47851 Views)

500k Per Month In Nigeria Or 2000pounds Per Month In The Uk / Can He Still Be Considered 26 Years old or not? / Business Idea For A Budget Of 500k (2) (3) (4)

(1) (2) (3) ... (10) (11) (12) (13) (14) (15) (16) ... (20) (Reply) (Go Down)

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Calebzer: 2:43pm On May 26, 2022
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by SUPERPACK: 2:44pm On May 26, 2022
bigman001:

Na broke ass mentality be this, guy when the money starts raking in, your mentality will surely change and you will want better things at higher cost.
Did I tell you I am complaining? Being a millionaire or billionaire doesn't change peoples test, society and social group does. We still have millionaires even in America that take train or Bicycle rides to and from work and they are okay.

2 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by micxwell(m): 2:46pm On May 26, 2022
DroppingLiquid:


you are not earning up to hundred thousand a month. You are just a runs girl taht doesn't know how to manage money. Look at this twenty four year old talking so sternly. They'll think you've seen life because you're fvcking other supposedly high earners that use their money to chase women like you.

People with good money management know that 500k is more than enough with a family of three kids. No be to marry slay rubbish put for house call am wife.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Esales(m): 2:46pm On May 26, 2022
wirinet:


Save 3m ke? On a 6m per annum salary? I have friends earning over 12m per year and they can't save zilch. When you have 1 kid in secondary school, 2 kids in a private university and you live in lekki, how will you save?

I said let me indulge them na, in their mind, they'll spend 50k monthly and save 4m+ because they won't spend much grin grin grin
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by JBoss25(m): 2:47pm On May 26, 2022
franchasofficia:
cheesy cheesy
Funny abi
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by sirsugar(m): 2:47pm On May 26, 2022
LagBae:
It depends. If you are single, yes. If you are married, no. Especially if your spouse isn't working.

Modified: Since you are single, I think I can refer to you as well to do.
babe forget, a responsible man who take care of wife and children bills is damn rich in Nigeria,even if you earn 60k in Nigeria with wife and kids u can't be responsible yet u will be missing some aspect with that earning so that's not a rich dude, a rich dude in Nigeria is person that take responsibility of his family
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by newoffer: 2:49pm On May 26, 2022
Remove rent school fees and feeding. Check if u still rich
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Androgens: 2:49pm On May 26, 2022
SUPERPACK:
[s]500k average salary in Nigeria? Same amount that can pay salary of entire staff of a small private primary/ secondary school monthly. Women and their wahala sha.[/s]

500k Is Just an Average Salary In a Working Nation..

5 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Esales(m): 2:49pm On May 26, 2022
WIZGUY69:
[s][/s]

I have been reading enough nonsense from page 1. Among all the stupid opinions, yours crowns it all. Tf grin Do we earn in $$ in Nigeria? Or does your sister spend in naira over there? undecided

Ps: 500k is not rich but everyone is a trillionare on social media.

You obviously don't know anything. Even the pure water you drink has moved from #5 each to #20 each all because of the naira devaluation and you're talking bs.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Generalkontrato(m): 2:49pm On May 26, 2022
Bro,you are f*cking rich,here in naija, u dey collect 500k every month,u talk say u no be rich man,
bro,u suppose dey go out with escort o.hah! 500k every month.

Boss,abeg una stil get vacancy for ther,mek dem just pay me 200k,hah i don blow be dat.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by rickleye: 2:49pm On May 26, 2022
What is your definition of rich is the argument here.
We have low class, mid class, high class. Each of those groups have levels.
Now let’s say the average salary is about $50,000 annually divide by 26 = $1900 per pay cheque.
Taxes = leaves you with $1900x65% = $1250
Mobile Phone bills $60
Monthly Rent $1000 spilt in two $500 per pay
School loans $100
Bus Pass $30
RRSP/TFSA $50
Food $100
Electricity $20
Credit Card/Line of credit $100
Home Internet $50
Netflix /Prime $20 per month
So one is left with $1250 - $1100 ( $100) per pay cheque.
Now if you are married, rent is split so you could save an additional $500 = $600 a month.

I have not added people like the dude/fool who wanted his brother to buy him a 2017 vehicle instead of the es330.
Or money sent home to support his parent back home.
Or Miscellaneous ( rent insurance , health insurance, tithe and offering , clothes )

Compare that to someone who gets N500,000 a month.
Who says he can save half of it 50%
Whilst my brother abroad can only save 10%

So who is Richer ? It’s all contextual.

2 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by WIZGUY69(m): 2:50pm On May 26, 2022
[s]
UyaiIncomparabl:


Rich is another synonym for "wealthy". Please, get your facts right.

So, while saving the whole of that 500k for 5 years, what would he living on? Papers?

43M can not even buy a 5 bedroom duplex at Lekki Phase one. What's wrong with you guys?
[/s]

Any small thing Lekki. Is Lekki the only good place in Nigeria? Some of you mention Lekki all the time just to sound woke. angry Unfortunately, it shows your level of exposure.

NB: Lekki is overrated even in Nigeria's level. Yes. The roads are not smooth, okada everywhere, just clubs and oloshos everywhere. lipsrsealed

7 Likes 1 Share

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by hush15: 2:51pm On May 26, 2022
ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions
its depends...
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by WIZGUY69(m): 2:51pm On May 26, 2022
Lokomoney:
[s]English and poverty is the problem here, how can you say 500k naira which is 1200 us dollars monthly take a home makes you rich.....smh[/s]

Another illiterate.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by micxwell(m): 2:51pm On May 26, 2022
Ayinke93:


So because she said 500k isn’t a lot of money made her a runs girl. Some of you are so stupid, it hurts my eyes. The fact that you’ve never earned up to that still doesn’t change the fact that someone earning 500k is just an average earner in Nigeria.
Lol, calm down now.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Akharmony: 2:51pm On May 26, 2022
If you dont live for showoff then i think 500k is a good amount of money to earn per month and you can b considered rich if you know how to use your money . and i'm sure there are other basic allowances that will also come alongside for someone receiving such an month of money. . Just imagin if a private school teacher with Bsc / masters Degree can be earning such an amount. . ??

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by t2luv1: 2:52pm On May 26, 2022
sumboty:
I read some comments and I laff,
500k per Month
6m per annum

Now let's do small analysis
Has a family man of 4 in family husband & wife and 2 kids
For feeding, let's say minimum 50k monthly
= 600k per annum..
School fees, 2 kids @ 150k per term
= 900k per annum,
NHIS family health plan 7,500 per month
= 90k per annum
House rent 600k per annum
NEPA bills on prepare meter 10k card per month
= 120k per annum
Let's say you have a car, or not 25k per month
= 300k per annum
Other expenses 20k per month
= 240k per annum
Miscellaneous per month 10k per month
= 120k per annum

Total = 2.97m let's round it up 3m
Giving additional spending of 500k to the above analysis making 3.5m spending per annum, then you have 2.5m balance as savings x in 5yrs = 12.5m
In 10yrs = 25m

Also take in mind, that 2.5m savings per annum can still increase if other business is involve.....

The above analysis is just an average assumption..

What I've noticed about many of us in Nigeria is that most of us want to get rich in a day or in one single business deal or investment.
Forgetting Rome wasn't built in a Day....




Hummm Thanks for the analysis. Think I can retire in 5 yrs and start taking Social Security @ 62 monthly payment $1987 plus $4000 per month in 401k. Making it close to $6000. House paid for, Kids all grown. That means I can live large in Nigeria. Why freaking wait until 65!!!
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Neoteny7: 2:52pm On May 26, 2022
Kzinne:
that's the road to poverty. Never let your tastes grow as your income increases.

That's the road to misery and stinginess.

You want to earn more to live more, not less.

You've this false equivalency between profligacy and leveling up.

If your standards of living are not in lockstep with your income....well, that's poverty.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Kentuforchrist(m): 2:55pm On May 26, 2022
WIZGUY69:
[s][/s]

Any small thing Lekki. Is Lekki the only good place in Nigeria? Some of you mention Lekki all the time just to sound woke. angry Unfortunately, it shows your level of exposure.

NB: Lekki is overrated even in Nigeria's level. Yes. The roads are not smooth, okada everywhere, just clubs and oloshos everywhere. lipsrsealed

Bro I tire for some people ooo the way they hype that lekki is something else if small rain fall booom everywhere don turn river….I stayed in lekki for 4 yrs and I tell u the truth apart from the hotels and clubs and some business hubs and houses that place looks like a glorified village

I stay at magodo now and I could tell u this place better pass some place for that lekki

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Androgens: 2:56pm On May 26, 2022
meobizy:
It’s average salary in a working system. Nigeria is not a properly working system hence OP is seen as wealthy. If OP japa he’ll find out he’s only one level above high school graduates.

Like WTF lol 500k Is Just $1000. Buharii have truly finished these Zombies..grin

4 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by niel63(m): 2:56pm On May 26, 2022
SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.
Story. How then do you enjoy your money? Please enlighten me.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by MaZee1: 2:56pm On May 26, 2022
I earn 2.7m monthly and I don't consider myself rich yet
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by mailemy(m): 2:59pm On May 26, 2022
500k per month in Nigeria is a big money. You are rich.
ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Androgens: 2:59pm On May 26, 2022
..
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by zuto4u(m): 3:00pm On May 26, 2022
Stop this nonsense oga. His lifestyle is not boring at all. I also live that kind of lifestyle and I am a very happy young man. Most guys around me have tried all they could to influence my lifestyle but I resisted them all and they resorted to calling me boring but I don't care. My beautiful wife and family love me the way I am and that is all that matters
Onariii:

Which kind boring life be that undecided remember u only live once

2 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by 43Ronin: 3:00pm On May 26, 2022
Bro don't ever use naira to pay bills for someone abroad plss. That guy is not a friend but an opportunist. 500k for a single guy is ok, but you married with kids in school, it ain't shiit. Pls save as much as you can so u can japa. Nigerias inflation will make you poor over time as it makes things more expensive. $1= =N= 610 currently divide it by 510k = $840 bro.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by olyrayy(m): 3:01pm On May 26, 2022
meobizy:
It’s average salary in a working system. Nigeria is not a properly working system hence OP is seen as wealthy. If OP japa he’ll find out he’s only one level above high school graduates.

Laughs in Purchasing Power Parity.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Androgens: 3:02pm On May 26, 2022
Lokomoney:
English and poverty is the problem here, how can you say 500k naira which is 1200 us dollars monthly take a home makes you rich.....smh

Lol The Youths of this Nation are worse than their elders believe me. I am planning my Jakpa already...
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by OurSeun(m): 3:03pm On May 26, 2022
ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

Bro na intimidation be this oo....
512k/ month? This is much.
Sir help me find work oo
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by WIZGUY69(m): 3:04pm On May 26, 2022
Kentuforchrist:


Bro I tire for some people ooo the way they hype that lekki is something else if small rain fall booom everywhere don turn river….I stayed in lekki for 4 yrs and I tell u the truth apart from the hotels and clubs and some business hubs and houses that place looks like a glorified village

I stay at magodo now and I could tell u this place better pass some place for that lekki

I swear. grin
Very irritating lifestyle. It's even the morons that stays in the ghetto part of Lagos that hypes Lekki the most. I have been to all major cities in Nigeria. Lekki no just follow when it comes to good location with good living conditions. Just because it's overpriced doesn't mean everybody there are millionaires. Any small thing, you can't do this and that in Lekki. Magodo will give Lekki a run for it's money any day any time. Unexposed lots. We haven't talked about Dope places in Abuja, Kano and PH o. If it' rains there, every one will still go about their daily activities. And Okada no de move up and down for those places. Ugly oloshos too won't charge you huge amount of money too. There are up to 10 places in Lagos that are better than that Lekki.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by WIZGUY69(m): 3:07pm On May 26, 2022
Esales:


You obviously don't know anything. Even the pure water you drink has moved from #5 each to #20 each all because of the naira devaluation and you're talking bs.

That's not what I am saying grin
When people are talking about income and standards of living in Nigeria or any other country of the world, use the local currency as the S.I units in the standard of living. This is me advising you in case of next time. grin
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Kentuforchrist(m): 3:08pm On May 26, 2022
WIZGUY69:


I swear. grin
Very irritating lifestyle. It's even the morons that stays in the ghetto part of Lagos that hypes Lekki the most. I have been to all major cities in Nigeria. Lekki no just follow when it comes to good location with good living conditions. Just because it's overpriced doesn't mean everybody there are millionaires. Any small thing, you can't do this and that in Lekki. Magodo will give Lekki a run for it's money any day any time. Unexposed lots. We haven't talked about Dope places in Abuja, Kano and PH o. If it' rains there, every one will still go about their daily activities. And Okada no de move up and down for those places. Ugly oloshos too won't charge you huge amount of money too. There are up to 10 places in Lagos that are better than that Lekki.

Aswear and most of those places na mainland e dea oooo

I wish to visit abuja soon

(1) (2) (3) ... (10) (11) (12) (13) (14) (15) (16) ... (20) (Reply)

Should I Leave My Job And Japa To The UK / I Give Up On Job Hunt. I Received Two Regret Mails Same Day / Lady Quits Bank Job After Getting Offer In Dubai, Gets There & Told No More Work

Viewing this topic: 4 guest(s)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 57
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.