Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,208,612 members, 8,003,136 topics. Date: Friday, 15 November 2024 at 08:09 AM

Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? - Jobs/Vacancies (17) - Nairaland

Nairaland Forum / Nairaland / General / Jobs/Vacancies / Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? (50221 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) ... (14) (15) (16) (17) (18) (19) (20) (Reply) (Go Down)

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by twosquare(m): 5:57pm On May 26, 2022
I just replied him too.
SUPERPACK:
I spend my money on my hobbies e.g research, electronics and videogames. You must not socialise to be alive, there is much more to life. Besides, I never complained to you.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Angelfrost(m): 6:01pm On May 26, 2022
Ezidimma:

Rubbish, you only need to taste it to know that in our present Nigeria, 500k will not make you rich if you havr four or more children that you intend to give quality life. And if you have an aged mom that depends on you like I do......I & my wife earn a joint Salary of 450k & we are not vain yet we can call ourselves rich & we have 2 kids not 4 & we live in Surulere not Lekki.
Say what you know.
How much is noodles?
Beverages?
Fuel?
Garri?
Rice?
Etc etc?

You are not being objective sir.

2 Million Naira on its own is a lottery to a bachelor or spinster in Nigeria... Can you say the same 2 Million is the same to a couple with 4 kids, and several dependant relatives?!!

Is it now correct for the latter above to tell the former to shut up, that the money is not enough to call anyone Rich?!!!

You see my point?!! Wealth is subjective and a matter of perspective!

If you earned that 450k all to yourself, you won't have made that statement earlier!

So, it's really not about the amount in itself... It's about several things leaning on that amount.

That's why most young men especially in certain regions in Naija will refrain from getting married till they start earning or making 7-8 figures every month...

In summary... There is no lie in a single man with simple tastes, and limited expenses to call himself wealthy on half a million while his mate in your shoes thinks otherwise... Both are perspectively correct!

2 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Corporate2020: 6:02pm On May 26, 2022
SUPERPACK:
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.

500K is average salary oga. Talking from current experience
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by SUPERPACK: 6:02pm On May 26, 2022
wirinet:


3m will get you a tokumbo 2003 -2004 Toyota Camry (pure water). Do you consider a person buying a used Toyota Camry as rich?

30m will buy you the 2021 model Toyota Camry brand new. Do you consider someone driving a 2021 Toyota Camry rich?

A brand new Mercedes-Benz GLS-Class 2021 model will go for ₦300,000,000. Now do you consider someone driving it rich?

Which of these 3 will you consider rich?
The bone of contention is if we can consider someone earning 500k in Nigeria as being rich by International and not Nigerian standard.
Do you consider the Netherland president that take Bicycle to work poor?

Do you consider billionaires and even our governors that take train rides abroad poor?

Senator Ike Ekweremadu was beaten up in Germany because he was not given security details even as rich as he is, is he considered poor?

You don't need to buy a car to be rich, cars are just means of transportation and where a Range Rover can take you to, Camry can do same whether tokumbo or fifth hand.

Luxury is not a measure for wealth.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by MrBrownJay1(m): 6:03pm On May 26, 2022
Angelfrost:
Don't mind these people... Coming to social
Media to show off their imaginations.
Where them see the money sef?!!

The only thing this economy has done is to make people who are wise to be more prudent with their money... They confuse financial prudence with poverty!

They believe extravagance and showing off are equal to being wealthy! Such pathetic reasoning.

i guess to most of these people, a rich person is one who buys his own house in Banana Island, flies private jets and drives a Ferrari.... to them, only Dangote and Davido are rich and a single man with NO responsibilities earning 500K in Nigeria must be viewed as poor.

4 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by phr33man(m): 6:04pm 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


Oga, you are rich since you have no responsibility. Just try spend judiciously and invest wisely before they start showing up
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Slynation(m): 6:07pm On May 26, 2022
phemmyfour:
In your father's days , free quality education exist in public schools from primary to secondary.

In those days , University fees were less than minimum wage
Non of us attended any free school neither did we attend any public school, infact we all attended one of the best sec school in Kaduna state, I mean a school that can compete against Danbo college, Zamani college etc, if you know this schools in KD, then you know what I'm talking about...so life is all about planning and sacrifice

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Angelfrost(m): 6:08pm On May 26, 2022
MrBrownJay1:


i guess to most of these people, a rich person is one who buys his own house in Banana Island, flies private jets and drives a Ferrari.... to them, only Dangote and Davido are rich and a single man with NO responsibilities earning 500K in Nigeria must be viewed as poor.

This is why a young man earning good money can afford to listen to their nonsense, and start thinking of illegal things to make more money!

It's so bad that we have lost our common sense and morality on the altar of ostentatious and fake living.

4 Likes 1 Share

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Androgens: 6:10pm On May 26, 2022
SUPERPACK:
[s]Shut your dirty mouth empty barrel. As if you are even earning up to 200k. Una go just open mouth waaaa like Donkey.[/s]

You are referring to your elders at home not me. Little uncouth motherfvcking brat. Normally I always Ignore stvpid kids like you who can't really differentiate their left hand from right hand yet..
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by wirinet(m): 6:19pm On May 26, 2022
SUPERPACK:
Do you consider the Netherland president that take Bicycle to work poor?

Do you consider billionaires and even our governors that take train rides abroad poor?

Senator Ike Ekweremadu was beaten up in Germany because he was not given security details even as rich as he is, is he considered poor?

You don't need to buy a car to be rich, cars are just means of transportation and where a Range Rover can take you to, Camry can do same whether tokumbo or fifth hand.

Luxury is not a measure for wealth.

You are comparing apples to oranges. Netherlands, Germany and other European countries are socialist or rather welfarist states. There is little rich/poor dichotomy in these countries. Everyone is provide with facilities for a minimum standard of living. Food is cheap and available. Public transportation is cheap and very available. Electricity is available 24/7. You don't need a car, generator, borehole, etc, to get a reasonable high standard of living.

Contrast to Nigeria, where public transportation is not available. You have dig and maintain your own borehole, added to that you have to buy drinking water - sachet or bottle water. You have buy and maintain a generator both at work and at home almost 24/7 with petrol at N165 and diesel at N700. No matter how much you earn in Nigeria your living standard will still be poorer than someone living in Netherlands.

You cannot be said to be rich in Nigeria if you go to work trekking or riding okada, if your wife enters Danfo to the market or your children enter keke to school. A car is a necessity to live a convenient life.

Then the type of car you drive is often associated with how rich your are. Cars are sometimes used as status symbols even in Europe. You can compare someone driving a Japanese car with someone driving a Rolls Royce.

3 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by nfcshanghai(m): 6:26pm On May 26, 2022
UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.
Pls and pls you all should know that 99% of Nigerians don't have 500k in their bank accounts says CBN

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Sivou1(m): 6:47pm On May 26, 2022
UyaiIncomparabl:


I suppose you have no responsibilities?

You will live an average life, yes. But, you can not be called rich.

Depends on his definition of "rich", I can relate with your submission, if you have responsibilities you might even find it hard to save 1M to 2M annually.

1 Like 1 Share

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Kelvin3476: 6:55pm On May 26, 2022
UyaiIncomparabl:


Start earning it and you will know.

As your income increases, your taste increases. Those that know, know.
U MEAN U CNT TERM .MIL EARNER AS RICH BECAUSE HIS TASTE INCREASES ? U ALSO MEANT THAT NO ME IS RICH BECUS OF TASTE ?
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Theunbothered: 6:58pm On May 26, 2022
Angelfrost:


Even for a maximum and extravagant lifestyle, is any amount of money truly enough??!

Why do steady Billionaires still hustle for more??!

Warren Buffett is a Billionaire who has been frugal/minimalist all his Billionaire life... That's his choice!

If you wish to look down on half a million or even 1 million, that's your choice, not because the money isn't enough to get you a good life.

Many of you are just being unrealistic and bragging to the birds! tongue

You are just talking to talk.

500,000 is okay as a single man with no dependents to live a decent life but it does not by any means make you rich.

When you meet actual rich people you won't see that 500,000 as money.

Wait until you start having health issues you will know you're not rich at all.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Kelvin3476: 7:01pm On May 26, 2022
Onariii:

Which kind boring life be that undecided remember u only live once
That life isn't boring dear. Its dependent on what u call boring becus many people like myself sees clubbing, smoking etc as boring too.

3 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Aidejay(m): 7:06pm On May 26, 2022
This largely depends on the cost of maintaining your lifestyle in a month.

So how much does maintaining your current lifestyle (paying bills, fueling, travelling, recreation and others) cost you monthly?

If it takes more than half of your salary then you're not rich.

But at least you're above average.

People need to remember that there is
Extremely rich
Very rich
Rich
Average
Below average
Poor
Very poor
Extreme poverty.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by micxwell(m): 7:12pm On May 26, 2022
pongwa:
walahi I just replied someone now I a manner similar to yours. God bless you. I didn't even read this before
There's nothing wrong with aiming high. Being complacent with that sum doesn't cut it for some people.
This thread is proof that the word RICH is subjective. I don't think I've heard anyone earning a particular sum say they are okay with the sum. I have an uncle earning above 3.5m as at 2015 and he'll still tell you he wants a better pay.
I believe everyone's opinion on this is right to an extent.
Someone earning 100k will call another earning 250k a boss and it goes on and on.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by SUPERPACK: 7:13pm On May 26, 2022
Androgens:


You are referring to your elders at home not me. Little uncouth motherfvcking brat. Normally I always Ignore stvpid kids like you who can't really differentiate their left hand from right hand yet..
Shut up 21st century illiterate grin
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by smasher1(m): 7:15pm On May 26, 2022
Johnchrix:
You are Rich Oga.

Extremely correct. Although 500k is not enough. It can take care of basic needs. U can buy a good car in a year and build in say 2 years. So it's more than enough.

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by smasher1(m): 7:16pm On May 26, 2022
UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

Op doesn't have responsibility. For him he is rich
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by micxwell(m): 7:19pm On May 26, 2022
SeunTheOwner:


This is not true.
Over the last 12 months, my earnings increased by an excellent percentage and I have more savings than in any other year.
The reason is simple, I did not change my lifestyle. Besides Food, TP, and rent, what took money out of my pocket was gifting.
Exactly. I don't know why people have to change their lifestyle completely just because they now earn more.
I got another job this January and I still maintain my monthly budget. Well, different strokes for different folks.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by ford101: 7:24pm On May 26, 2022
UyaiIncomparabl:


Start earning it and you will know.

As your income increases, your taste increases. Those that know, know.
for people that have no brains.once there income increase there test increase.lol. I got over 10million last Yr August.my sister asked me to move into a flat of 300k a Yr.i refused and am still living in a selfcon of 90k.in aso c in maraba kabayi.i still eat same beans and rice okada men eat in aso c that iv always ate.infact I call it chicken Republic.i mean a big plate of test less rice and beans for 100naia.wen my level changes truely I ll no.am planning to build a simple 2bed room flat on my land.so once I marry there wouldn't be rent wahala.so most of u ask for problem by ur self.i don't take my car to car wash.i do it my self.

3 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Optimistk87: 7:35pm On May 26, 2022
Imagine..... 500k that even professors in our universities are not earning.... Oga you are rich if you are a good money manager....
But if you are not, even with triple of that amount, you may still be found wanting

2 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Realguyman1(m): 7:36pm On May 26, 2022
UyaiIncomparabl:


This is no argument, so forget it.

As I said before, 500k is an average salary. And what comparison does 50k have to do with 500k? When you are calling monthly stipends? 50k follow?

Na average money, biko.
I knew a lot of people with families and other responsibilities who were earning between 55k, 50k and below back then in Lagos ( I knew this, because I once work with some of them in the same company, and were also closed to others as well). Those kind of people are the ones who should be saying their salary is average and can't cover their expenses in present day naija.

But if those once can manage a salary of 55k, 50k, then someone earning 500k is rich and good to go in Naija.

2 Likes

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by KingDamzzy(m): 7:53pm On May 26, 2022
It's obvious that you are looking for validation from people to confirm your status so it makes you feel better about yourself compared to others.

Well done. We see right through this thread.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by LINTUNE(m): 8:04pm On May 26, 2022
UyaiIncomparabl:


LMAO. cheesy

You don't expect me to read this gibberish you wrote, right?
how would u have known it is gibberish if u never read it grin..can u see how st*pid u sound.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Benwallt(m): 8:10pm On May 26, 2022
zoroby:


U get time to quote that girl. Maybe she earns 10 million monthly
I just wanna set her straight

1 Like

Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by meobizy(f): 8:31pm On May 26, 2022
uuzba:

Compare Nigerian salary with Nigerian living only.
Never compare with Western nations O.
--
After my studies in UK, I remained and worked fulltime in a call centre (8hrs x 5 days).
Salary was about £950 per month.
Then GPB to NGN was about N250 to £1.
So I earned N237,500 a month by Nigerian money.
That was big boy money abi? But over there, ordinary transport, electricity and food (bread!!! BREAD OOOOO, Not Shawama, BREAD)....
.... the money still finished before month end.
To even remain one careless £50 for account was wahala.
Today 2022, people doing that same work might be earning £1500 monthly (inflation).
And at N522 to £1 exchange, that gives N783,000 PER MONTH.
But just like me, they too will end up with £0 at the end of the month eating BREAD O!!!! and entering public transport.

Each couthy has VERY VERY DIFFERENT LEVELS of living standard.
The people in those jobs are high school graduates. OP is one level above them.
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Sainttops(m): 8:36pm On May 26, 2022
Lord this Nigerian is ungrateful to your mercy.


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 Olaitan2019(m): 8:41pm On May 26, 2022
well that money is something in this country if you want to consider richer than your friend
you have to invest in a good investment that that will give you massive returns on your investment

the investment is called real estate there are many opportunity to make money from In real estate

many billionaire in Nigeria invest in real estate because they knows that appreciation rate is very fast that will give you consistent cash flow

there are many benefits in investing in real estate expecially in Lagos state so it depends on your purpose of your investment

if you want to 10x of your income take a bold step to invest in real estate

I will take you through the journey of 10x income and you will thank me later

take a bold step by calling
call: 09025462416
Whatsapp: 08127588833
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Funkybabee(f): 8:43pm On May 26, 2022
Compare it with other person annual salary

Some ain't collecting that in a year

So judge yourself
Re: Is A Nigerian Salary Earner Of 500k Per Month Considered Rich? by Funkybabee(f): 8:46pm On May 26, 2022
micxwell:

Exactly. I don't know why people have to change their lifestyle completely just because they now earn more.
I got another job this January and I still maintain my monthly budget. Well, different strokes for different folks.

It's because you have extremely learned and trained

1 Like

(1) (2) (3) ... (14) (15) (16) (17) (18) (19) (20) (Reply)

NLNG Experienced Hire Result Is Out!! / Unilever Future Leaders Program For Graduates (full Time Role) / Apply For 2017 Msc And Phd Commonwealth Scholarship In The Uk

(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. 66
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.