Loss Mitigation Specialist salary in Nigeria

Average Yearly Salary of Loss Mitigation Specialist in Nigeria is approximately 3,014,687 NGN (3,594 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 Loss Mitigation Specialist do?

A loss mitigation specialist is an individual who works in the financial industry, specifically in the field of mortgage loans. Their primary responsibility is to assess and manage the risk associated with delinquent or defaulted loans. They work closely with borrowers who are facing financial difficulties to find viable solutions that will help them avoid foreclosure. This involves reviewing financial documents, analyzing loan terms, negotiating with borrowers, and recommending appropriate alternatives such as loan modifications, repayment plans, or short sales.

Skills: Loss mitigation specialist, Mortgage industry, Risk management, Loan modification, Foreclosure prevention, Financial analysis
Job industry: Finance

How much does Loss Mitigation Specialist make?

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


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Salary comparison to National average

Is Loss Mitigation Specialist a well paid job?

No, our data shows that Loss Mitigation Specialist is typically not a well-paid job. The salary varies based on experience. Meaning that even though Loss Mitigation Specialist might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Loss Mitigation Specialist?

High salary for Loss Mitigation Specialist would be somewhere between 3,316,156 NGN and 4,371,296 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loss Mitigation Specialist 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: 3,014,687 NGN
Estimated Monthly Salary: 251,224 NGN
Estimated Weekly Salary: 57,975 NGN per week
Estimated Hourly Salary: 1,449 NGN per hour
By working as Loss Mitigation Specialist a person can save up to 94 USD per month or 1,127 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 Loss Mitigation Specialist

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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