Consultant Banking salary in Nigeria

Average Yearly Salary of Consultant Banking in Nigeria is approximately 5,542,313 NGN (6,592 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Consultant Banking do?

A consultant in banking is a professional who provides expert advice and guidance to financial institutions and banks. They analyze the bank's operations, processes, and strategies to identify areas for improvement and recommend solutions to enhance efficiency, profitability, and risk management. Consultants in banking may specialize in various areas such as risk management, regulatory compliance, technology implementation, or mergers and acquisitions. Their responsibilities include conducting thorough research, data analysis, and market assessments to develop effective strategies and action plans. They collaborate with bank executives and teams to implement changes, monitor progress, and provide ongoing support. Consultants in banking also stay updated with industry trends, regulations, and best practices to ensure their recommendations align with current market conditions.

Skills: consultant banking, financial advisory, risk management, regulatory compliance, financial strategy, process improvement
Job industry: Finance

How much does Consultant Banking make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Consultant Banking a well paid job?

Yes, our data shows that Consultant Banking is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Consultant Banking?

High salary for Consultant Banking would be somewhere between 6,096,544 NGN and 8,036,354 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Consultant Banking in Nigeria?

Living in Nigeria the approximate monthly expenses are: 206 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 5,542,313 NGN
Estimated Monthly Salary: 461,859 NGN
Estimated Weekly Salary: 106,583 NGN per week
Estimated Hourly Salary: 2,665 NGN per hour
By working as Consultant Banking a person can save up to 344 USD per month or 4,125 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Nigeria, see costs of living in Nigeria.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Niger, Chad, Cameroon, Benin.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Consultant Banking

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Nigeria

Data as of 2025

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