Junior Actuarial Analyst salary in Nigeria

Average Yearly Salary of Junior Actuarial Analyst in Nigeria is approximately 5,366,071 NGN (6,422 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 Junior Actuarial Analyst do?

A junior actuarial analyst is an entry-level position in the field of actuarial science. Actuaries are professionals who use mathematical and statistical techniques to assess and manage risks in various industries, such as insurance, finance, and healthcare. As a junior actuarial analyst, your main responsibilities would include collecting and analyzing data, developing mathematical models, and assisting senior actuaries in assessing risk and making financial predictions. You would also be involved in preparing reports, conducting research, and staying updated with industry trends and regulations. This role requires strong analytical skills, attention to detail, and proficiency in mathematical modeling software. Effective communication and teamwork are also essential, as you may need to collaborate with other professionals to provide accurate assessments and recommendations.

Skills: actuarial science, risk assessment, data analysis, mathematical modeling, insurance industry, financial predictions
Job industry: Insurance

How much does Junior Actuarial Analyst make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Junior Actuarial Analyst a well paid job?

Yes, our data shows that Junior Actuarial Analyst 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 Junior Actuarial Analyst?

High salary for Junior Actuarial Analyst would be somewhere between 5,902,678 NGN and 7,780,803 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Junior Actuarial Analyst 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: 5,366,071 NGN
Estimated Monthly Salary: 447,173 NGN
Estimated Weekly Salary: 103,194 NGN per week
Estimated Hourly Salary: 2,580 NGN per hour
By working as Junior Actuarial Analyst a person can save up to 330 USD per month or 3,955 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 Junior Actuarial Analyst

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.

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Data as of 2025

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